the chamber is made up of 1500 members and some of them are small retailers and small restaurants that see competition from formula retail. at the same time, as was brought up here this afternoon, our concern is that controls allow for appropriate regulation within the law. that san francisco not go down an anti-competitive path. no. 1 that is illegal. not well-defined necessarily to-date by state law, but it is there. there are cases around california and the country. because i think the issue, you bring up super dooper. we all like it and it's an expanding change, but you know who won't like it? some competitor hamburger store whether they have nine outlets or 12. it's not any of us or it's not most of the neighborhoods, the residents. it's time and time again, neighborhood character being used as an excuse to argue against a particular competitor and that is something that we have to be careful about and with any new change by the board of supervisors sometimes, they are franchisees, to give them a fair chance through the cu process and not have two arms -- both arms tied behind the

the biggest problem is small businesses like mine small businesses as a business that has one hundred employees but there's a big business and that category of small business. i suggest if there's anything that come out of that maybe we can have a new federal category for small business that diversifies the mom and pop and micro business from the educator of small business that exists today because we fall through the cracks >> thank you so much for here today. >> next speaker. >> (clapping.) good afternoon honorable supervisors i appreciate the chance to be human resources. i'm not rep anyone. the things - >> ma'am, could you pull the microphone closer to our mouth. >> is this better. anyway. i've heard look good researcher today but in terms of not being able to afford anything but sugary drinks and carbons i'm poor. we raised our 9 children without drinking soda and none of them have diabetes and yeah. sugary drinks are not only the only contributor to diabetes. i mean i like to drink beer and wine i can't afford that and if i looked soda i wouldn't be able to afford that. where i

so this is a big challenge for these small businesses, and i think as advocates of small business, we have to be concerned about that. >> commissioner yee riley. >> yes, this minimum wage is mandated for employers in san francisco? >> that is correct. >> now i know you all know there are a lot of people that commute from other cities in the bay area to work in san francisco? >> right. >> so one of the reasons why they wanted to raise the minimum wage because they can't afford to live in san francisco. would this really be benefit san franciscan residents or are we raising the minimum wage and they still live out of san francisco? >> ted egan has presented data on the percentage of minimum wage employees who are residents of the city as of today. and it ranges from 75% in certain sectors or in the 70% range in restaurants actually, down to lower numbers in various other sectors. i think that again the challenge of looking at the numbers as they exist today does not take into account the acceleration of people being pushed out of the city. and i don't mean by evictions, but just by peop

gerri: i know a lot of small business owners out there. small bank operators are going away.ind the right loan. mark, appreciate your time, have a great weekend. >> thank you, gerri, you, too. cleanup under way in the lone star state after four tornadoes touched down in north texas yesterday. the tornadoes and heavy thunderstorms caused damage throughout the state. homes and roofs damaged, including two homes completely destroyed and hunt county, texas. nobody was hurt and no word on the cost of the damage. take a look at the cars parked at a walmart in denton, texas outside dallas. look at the holes in the windows. unbelievable! that's hail smashed through the car windows. tornadoes spotted in missouri yesterday. national weather service getting reports of a damaging twister with quarter-sized hail spotted near washington, missouri. reports in arkansas, kansas and oklahoma hit with large hailstorms. here it comes. coming up later why, a smoke detector feature that allows consumers to wave to turn it off? it's working too well. >>> why one baseball field walking on the field

all it's a small, small world ♪ ♪ it's a small world after all it's a small, small world ♪ [ cheersl -- even out in outer space. nasa astronaut, rick mastracchio. he's a veteran of three space shuttle missions. he is aboard the international space station since november 2013. thank you, rick. and thank you to the young people's chorus. >> it continues. i mean, wow. >> it is a small world after all, right? thank you. you guys sounded great. we want to thank everybody for taking part of this. it was really amazing. it came to life because of you. go to goodmorningamerica.com on yahoo! to find out more about how you can celebrate "it's a small world" by uploading your version of the song. >>> ginger? you want to talk about the gorgeous weather in new york? >> the perfect weather. in case you missed it, these are the dolls that are actually from the ride. >> really? >> you go around. nobody told me not to. they are the ones that sing "it's a small world," in their language. just a little piece of home. we want to give you a worldwide forecast on this special day. how about we check that

business -- the small business tissue of ocean avenue. we just don't want an expansion and proliferation of these kind of uses on ocean avenue. but maintaining the diversity of the uses. i remain available for commissioner questions. >> any commissioner comments? so you have reached out to ocean avenue? that is good. >> and they have endorsed the legislation with a letter i can provide to commissioners. >> it's pretty clean-cut. >> i have seen -- [ inaudible ] are you proposing to have the conditional use? >> correct. >> so yes the legislation would create a conditional use requirement for any new medical cannabis dispensary that is seeking to locate within 500' of an existing cannabis dispensary and currently the way the green zone, the areas where cannabis dispensaries are allowed along ocean avenue makes this an automatic conditional use since it's only in a two-block radius. >> so far from a school? >> right, very limited area. >> and the merchant association and the neighbors support it? >> they are supportive. >> we do know that you

their learning process can help your small business succeed, coming up next on "your business." >> small businesses revitalize the economy. >>> hi everyone. i'm jj ramberg and welcome to "your business." we all make mistakes, ask any successful entrepreneur and they won't have enough fingers and toes to count all of the bad calls they made. but what you do with those mistakes makes all the difference. we met two entrepreneurs who started a company selling shaving products, who instead of beating themselves up over wrong decisions used them as teaching moments. and while their bottom line took some hits it was part of the learning process. ♪ >> we've been told more than once that if we knew what we were getting into we probably wouldn't have tried. >> we made the decision we were going to enter this for better or worse. >> men's line j paul may have entered crowded field in 2007, but for founders paul and paul, that was no deterrent. >> our products really are targeted for those guys that do have thick beards like myself. and my business partner paul strong has very sensitive skin. we fel

no details too small. american express open forum. this is what membership is.his is what membership does. >>> if you're on a limited budget i always give people the advice, get the prototype made and make sure it can be mass produced. and that is the most important place to put your money. there, and also in the packaging and the marketing of it. you've got to be different. you've got to make it stand out, and worry about the patent and protecting yourself later. you've got to spend the money to be first to market. >> let's catch up now with what's hot in the world of entrepreneurship with three things you need to know about small business this week. the weather finally got better in march, and so did small business confidence. the nfib's small business optimism index was up two points last month to 93.4. the survey also showed an upward trend in expected sales and future demands. another survey showing that despite fears about the affordable care act, small business hiring remains steady. payroll services surveyed 3500 firms with 300 or fewer employees. 26% of

the nfib's small business optimism index was up two points to 93.4. it showed an upward trend in future demands. another survey showing despite fears about the affordable care act, small business hiring remains steady. cbiz payroll services certified 3500 firms with 300 or fewer employees. 26 of those companies added employees in march, 20% cut jobs while about half were holding steady. and maria con temporary ra sweet was sworn in by vice president joe biden as the new head of the small business service. she was born in mexico and immigrated to the u.s. when she was five. she formed the pro american bank which helped fund hispanic owned businesses. >>> swag, whether you know it as souvenirs, free gifts or promotional products, no matter what you know it as, it can't be beat when it comes to getting the new business of clients. we headed over to the advertising specialty institute's whacky product show to get an up close look at the latest unique items for promos with a purpose. ♪ ♪ >>> welcome to the asi show. down these rows you'll find all the t-sh

their learning process can help your small business succeed. coming up next on "your business." >>> small businesses are revitalizing the economy, and american express open is here to help. that's why we are proud to present "your business," on msnbc. >>> hi, everyone, i'm j.j. ramberg and welcome to "your business." we all make mistakes. ask any successful entrepreneur, and they won't have enough fingers and toes to count all the bad calls they make. but what you do with those mistakes makes all the difference. we met two entrepreneurs who started a company selling shaving products, who, instead of beating themselves up over all their wrong decisions used them as teaching moments. and while their bottom line took some hits along the way, it was all part of the learning process. >> we've been told more than once that if we knew what we were getting into, we probably never would have even tried. >> we made that conscious decision that we were going to enter this market space for better or worse. >> men's skin care line j. paul may have entered a

this is a pretty small town. the commitment to the town, you can say those in words, but will be saw the people do was try to figure out how to make their sustainable and built for a future where they could create a family life that usually meant small town life where you know your neighbors and everyone is watching out for one another. that was a definite aspect of it. town,e the assets of the take advantage of them and build them up in a modern way. in maine it was all about being a town that wasn't really living up to its ability. there are going to make that into a world-class port. >> they are the main depot for shipping pregnant cow from texas to turkey. it is a long story. [laughter] >> go ahead. >> eastport has 1300 people. every one of whom looms in our imagination. the first night, they are doing this production of the glassman manager. the guy selling tickets was the editor of a local newspaper, which is thriving. >> the stage manager was the barista at the coffee shop. >> the people who urges making i

and steve strauss is the senior small business columnist at "usa today." great to see both of you guys. >> good to see you. >> great to be here. >> 4r09s of books between you two. >> how do i turn my social media followers in to loyal customers? >> i love this question, mike, because you can spend all of this time getting this question. you can spend all this time getting followers, but if they're not customers, what's the point? >> you have to recognize the vast majority of people following you are just free loaders, coming through and going by. you have to pick out the ones who are loyal customers. first of all, you have to identify who they are. the trick is give your group a name. jimmy buffet did it with parrot heads. those are the people who loved his stuff the most. once you give them a name and they start using it, that's your local group of customers. second, ask their permission to market to them. get their e-mail address, address, phone numbers. and third, give them exclusive offers, stuff specific to them that they can get that no one else can

little guys who do what the bankers don't, small community banks and their important place on the main streets of america. i am ali velshi. this is "real money." ♪ >>> this is "real money." you are the most important part of the show. tell me what is on your mind by tweeting or using facebook.com/alivelshi. china's economy is slowing down from the torrid pace. if you listen to some people, you would think the sky is falling. it's not. china remains extremely attractive destination for businesses and invest whorz take a long view and want a piece of the action.ors who take a long view and want a piece of the action. we learned chinaas gross domestic product, the broadest measure of economic activity grew 7.4% in the first three months of 2014. now, this 7.4% is compared to the same period last year. >> growth is pretty good. but it's down from 7.7% which took place in the last three months of 2013. 2-4 is the first quarter of 2013. 7.4% is the slowest growth recorded by china in 18 months. china's real estate sector is struggling. there is reduced investment in stuff like machinery and

also in their 10th year, small business week as you know provides a showcase for city's unique small businesses. similar legislation waiving [speaker not understood] co-sponsored by different supervisors over the years. 24 merchant's corridors are hoping to participate by presenting each of the city's supervisorial districts. we're thankful for pro local who helped with the outreach who helped to in crease participation to such a high level compared to previous years. as you know there is one merchant area that couldn't participate and that would be june 21st, the castro merchant [speaker not understood]. supervisors respectfully request your support of legislation to benefit the small business groups. thank you. >> thanks very much. supervisor avalos? >> thank you. i'll be supporting legislation and i've been a sponsor in the past. how is it ocean avenue is not on here? it's been typically on here year after year. is it certain district? >> sir, i'd have to check our partner for pro local as i mentioned did the one on one engagement due to our staff in the office. i'll report back t

diamonds we're taking a thousand cubic meter the author of small carrot and compressing his use of small green. and it would be different versions of the three countries that meeting he loves to get like a real diamonds diamonds and what the larger series will be too sick to compress it into the business to get chris to life. so you still see it's small but it's beautiful. and by sharing or selling a diamond diamond ring like that the small ring you've donated thousands to their health care to visit it alleges that projects like these the way of drawing attention to the problem rather than a viable solution to the jeans and peace. real ounces would require skill and beds to treat a cane industry in the cars and adopt an altogether different lifestyle. eleven of his projects will make a radical statement by allowing the city's residents to realize the difference between breeding scheme and small field and seven one yen stages of the taste testers technology because it's in an alley so there is a must win it's not new to me and ideas has already went on several projects to recycle and eigh

completely consistent with the actions that we're presently taking and i think it would be fine for small business commission to go on record as making those recommendations and i will of course carry those to the various forums, including the minimum wage task force. >> perfect. so do you want a motion? >> i would like to move that. >> commissioners, this is agendized as a discussion item only. so no action necessary. >> we'll formalize it and take action next week. >> okay. >> and i will let you know if this list should be modified in any way, increased or some of these items -- some of it is just finding out what is legally possible to do? and or practical? so i will work with director dick-endrizzi to make sure that the list that we present next time is this plus or minus whatever else needs to be on there. >> great. thank you. >> next item. >> item 7 director's report. discussion item. >> commissioners, due to the time, i don't have anything substantial to report. so i'm not going to provide a full report today. >> item 8 president's report, discussion item. >> i don't have anything

>> small businesses revitalizing the economy and american express open is here to help. that's why we are proud to present "your business" on msnbc. >>> hi there everyone. i'm jj ramberg. welcome to "your business." data, for any one who is not into crunching it sounds like a scary word and sounds like something for big companies with big budgets. you know what, it is not. we all have information hidden in the data we're collecting on customers and it's a matter of figuring out how to look at it and what to do with it. we found a corner bar in san diego that has done a great job at both collecting data and then acting on what they learned. just a little research has resulted in a big increase in revenue. >> here in san diego's famous gas lamp quarter is a bar called the tipsy crow. >> we bring a lot of people in here and all we focus on is hospitality and people having a good time. >> frank miller is the manager. and he's discovered that making sure people have a good time takes a lot more than just a cold beer and a bowl of chips. >> we're not re-creating the wheel with

even a small impact. when you have a small u-6 unemployment rate of 13% or 14% it makes a huge difference. we are right now at kind of the break even before falling back into a recession or, god forbid, a depression. any little thing like this, i don't think obama care is a little thing, can have a huge impact in centers teetering down. >> gary is so smart. he uses things we don't always understand. but you think the unemployment rate and the under employment rate -- david, what do you read about all of this? are you seeing any job losses from obama care? >> well, i think it can be simply looked at. if you look at the numbers of jobs created under bush for eight years, that was 1.1 million. and that was of course without any health care reform. with health care reform, you've seen in the last 48 months, straight 48 months, you've seen 8.7 jobs created. so just taking those numbers, i think it simplifies it for us all that even with obama care, you still have job growth. i would ask anybody, you know, woul

>> it's small. (laughter) it's small for anybody. well, it's small for anybody. you got a better chance of being a surgeon or a -- you know, statistically. >> reporter: whether or not he makes the tour, dan's experiment could shed light on an age-old question -- are elite athletes

world. >> it's a small, small world ♪ >> reporter: it was 50 years ago today it's a small world debutedork world's fair. a creation of walt disney, it found a home at disneyland in anaheim in 1966. >> there's so much that we share that it's time we're aware ♪ it's a small world after all ♪ >> reporter: marking today's 50th anniversary of it's a small world richard sherman, he and his late brother robert wrote the song. >> that's what it's all about. it's a small world after all. >> reporter: since 1964, a billion people have seen the attraction at disney's five resorts around the world. at disneyland in anaheim the song plays 1200 times a day. >> it's a small world ♪ after all ♪ >> it's a small world after all ♪ >> every time you talk to somebody about it's a small world, you see it in their eyes. they become a 6-year-old and remember holding mummy's hand going on that ride. >> reporter: it was disney that put this unicef round the world sing-along project together to mark the 50th anniversary. >> you could be in the bush in the out back of australia in the jungle of the middle of afric

have industrial uses, large industrial uses. we have office use. we have restaurant uses them we have small maker type uses and accommodate all those together. then we have commendation of public space and private space. there's major balancing act between things like loading and public areas, but it's up there with extremely focused on that the transaction documents cover and that the community have been very involved in and that ought not to talk about. following are just a few examples of the kinds of uses we put into other projects and which may be indicative of the kinds of uses we would see at pier 70. in terms of industrial which is many of the buildings on the south side, this is a picture of the project called [inaudible] that we did in 2009 and 2010. this would look like when we acquired it had a lot of the same problems. this would've looks like today. this tenant is a donkey and goat their winery and this is a page of the interior of their space. this is one set of industrial space the micro to pier 70. one aspect of the way they operate which also seems like something you would

it is still a very small business. on the flipside, pet food express, a company that is revered by its customers for customer service and its outreach to the community and all that it does for charity was denied access. and a company that started here in san francisco, albeit it moved out of the city. so i don't think that we can say that the good ones will automatically get through and the bad ones won't and that the small ones are really small or the large ones are really as large as they seem to be, because they are not. so to your point, yes, we need to fix the process. because what we are doing here, much of this debate center s around how to avoid the process because it's so onerous, as are so many things in san francisco? i don't see like we are doing about the process, but we are talking about the gates, how to get around it or avoid it? >> i just wanted to say that you are certainly welcome in this recommendation in response to the report, to say regardless of whatever gates we need to set up, this also, too,

enterprise program was established and it's really intended to expand contracting opportunities for small businesses in the city. prime contractors so the main contractors applying for contracts may be given business accounts for being local enterprises. then, in addition to that additional benefit the contract monitoring division actually gives sick subcontinent goals for approved contracts. through the life of the contract, so by the end of the contract that subcontracting goals must be met. then in addition to that port staff is really starting to monitor overall local business enterprise contracts. so, in addition to watching our subcontract use you see all the reporting on how much money is not going to prime contractors as well. so [inaudible] is really looking out for the life of eye contact our meeting of contracting goals,, but i want to engage in a conversation with you that includes the amount of money going to the ponds. primes. for the newly awarded contracts of their 5 newly awarded contracts totaling $1.818 million. one of these is large enough and so within the requirement

the amount released in small earthquakes is that they are so small in you need many of those. >> i think would you probably have to have maybe hundreds of magnitude earthquakes of 4.7. >> so small earthquakes are not making our lives better in the future? >> not anyway that you can count on. >> i have heard that buildings in san francisco are on rollers and isolated? >> it's not true. it's a conventional foundation like almost all the circumstances buildings in san francisco. >> the trans-america was built way before. it's a pretty conventional foundation design. >> i have heard about this thing called the triangle of life and up you are supposed to go to the edge of your bed to save yourself. is there anything of value to that ? >> yes, if you are in your room. you should drop, cover and hold onto something. if you are in school, same thing, kitchen same thing. if you happen to be in your bed, and you rollover your bed, it's not a bad place to be. >> the reality is when we have a major earthquake the ground shaking so pronounced that you are not going to be able to get up and go anywher

a $1.2 trillion tax on our small businesses, killing jobs, and turning small businesses. i am standing up for economic freedom. with united states is 12th, i understand rankings. -- 12 behind estonia, something is wrong. for ourg to stand up religious freedoms. this administration continues to assault those religious freedoms protected by our first amendment. they are going after a second minute rides. they're going after our fourth amendment rights. i believe that standing up for freedom is the calling of our time. join me in this effort. i need your help. i need your support. i am asking for your vote on june 3. i am asking for your prayers for my family. god bless you and may god bless the united states of america. thank you. [applause] >> thank you. our next candidate is joni

the wings been refused on companies big and small. i'm using these tools to gain access to the left. friends and likes to get the contacts that will cost of living can expect the actual truth to both the companies are laying in it. the creation was then known as pontiff the visiting my front and on the base to see what's what it's up and coming young mutants. i mean. it is also the global capital funds the country is where the pores to the world. it's also completely on the robo middletown. it uses digital media and smart phones and computers. the muscle condition is doing business we contacted eighteen kicks always been one of the companies agreed to assume. we set off to oxford it wasn't easy. he states he had to use. finally we found plenty in small streams on the outskirts of dhaka wouldn't want to switch the summer ninety company has announced six story building. the most were from twenty nine year old. and to students. he employs twenty people. bring to the conditions. it shows us how easy it is. i do want to stay with us here a

all ♪ it's a small, small world >> that will be in your head all day long.inal attraction opened at 1964 new york world fair and was designed by walt disney himself and if you want to take part in the festivities you can join the global sing along online by recording a video of yourself singing. the details are on abc7news.com. disney is our parent company. we will leave you with more images. have a great day. ♪ it's a small world [cheers and applause] [cheers and appl [dramatic music] ♪ >> oh! hey! what up, buddy? how you doing? what up, what up, what up? what up, what up, what up? what up, what up, what up? hey, how's it going? there he is. >> yeah, how's it going? >> good. good. come on, man. good. [cheers and applause] hello, and welcome to millionaire. today's returning contestant is a flight attendant who is about to face his $250,000 question. from las cruces, new mexico, give it up for todd-michael hayes. let him hear it. [cheers and applause] todd-michael, man. >> how's it going? >> so you about to go for $250,000, sir. >> yes. >> what would that mo

business definition to focus on our small businesses in our community, arts san francisco businesses. again, here are some of the pictures of the site. with the approval of this rfp we will issue the rfp come hold an open house for anyone that wants to come and visit, and see what the opportunities look like. we are going to take our time. we have, i am working on putting together a community selection review panel that is comprised of hopefully, representatives from every quadrant of our led community and cbo community that are business owners and business consultants that can make sure that whoever takes this space is going to be successful. so it's going to work for all of us. so, i will be back before you once we have received all of these proposals, reviewed the proposals, and will come back with a recommendation for your approval. >> so moved. >> 2nd >> public comment? >> regina [inaudible] >> thank you. thank you pres. katz and commissioners and dir. moyer. i'm happy to be here this afternoon to give our support for the great work that susan has done with this space and the co

, shaky boat. >> small, shaky boat. >> what you don't want to see when you're on a small, shaky boatis this. that is a 16-foot long great white shark that's very close to their boat, circling their boat. 9 news says the shark was bigger than the boat. >> what? >> they fed it. they tried to pet this thing. you can see how pumped up these guys are. >> bros. >> that's australians for you. they live on a giant continental island full of weird animals. that's how you live. >> at one point started chewing on their boat. >> what? >> they had to slap it on the head and make the thing swim away. >> that is a small shaky boat. >> that's a big, humongous shark. >> yeah. this is south of the gold coast in australia. after they slapped the giant great white jaws their buddy's boat was behind them, shannon ryan, his boat was sort of the next target for this thing. >> this is right out of the movie. >> the funny part about this video, all the guys in the video are like not like -- you know. >> because you wonder they don't fall in the water they're safe. >> they were eating the boat! >> he didn't e

this new tax on small businesses will raise insurance costs for already struggling small businesses and is contrary to the goals of health care reform. they hit was clearly included for the sole purpose of being a revenue raiser. this burdensome tax will raise eight al-youm dollars in 2014 increasing to 14.3 billion in 2018 and creates premium trend thereafter. the congressional budget office and the joint committee on taxation have reported that this tax will be passed along to individuals, fancy that and small business in the form of a higher health insurance premiums increasing the cost of health care coverage for small business and families. furthermore the national federation of independent businesses actually projects they hit tax will add an additional $475 per year for the average individually purchased family policy. that's nearly $5000 over the course of a decade. at this time i will withdraw both of my amendments or this last amendment but i firmly believe these tax provisions are badly hurting our economy and need to be revealed immediately. thank you. >> i thank my colleagu

documents are approved. the 3rd type of use that we have worked very hard to create at pier 70 are small maker type uses. one of the changes we have that right now the spaces are huge and we have a lot of historical constraints of cutting them up so we looked upon as many small existing structures as possible. were also look at some opportunities for temporary container or other type structures in the courtyard where you could have uses that are smaller, that our local, that are affiliated for example sf made and they would be faced with 50,000 square-foot space. instead they maybe have 1000 square-foot space. so this a picture of a small space of a protocol 1414 product. b became [inaudible] which is a local boutique and it is uninsured and their shirts in the back warehouse their shirts and so their shirts. and it really been a huge part in turning around the block in the epicenter of where a lot of the [inaudible] had happen and change the way the community sees this portion of downtown [inaudible]. that's great a lot of the small combined spaces as well. if something we can continue

intended consequences specifically for small businesses but in relation to larger businesses. you say the tax a levied at the point of distribution, of course, the taxes get passed along to the businesses. small businesses are hanging on by the skin of their teeth are going to have to raise their taxes but safest way can absorb the costs i want to see more small mom and pop businesses my feeling is this tax will hit them particularly hard that's why i oppose it >> thank you. next speaker, please. >> hi i'm kevin i don't know where to begin i think i'm only volunteering i don't work for the soda industry person i'm here as a voter in san francisco. what about the fact this is a regressive fact that's the truth and you're trying to white wash over it. that another fact i don't drink soda i don't justifies my habits to politicians that's really a nightmare and first is not a taxable event and it shouldn't be and herng hunger neither and if the board of supervisors will pass the real estate complex as the soda industrial complex the city will be a much healthier place. the way the

the amount released in small earthquakes is that they are so small in you need

even small cap companies have some overseas exposure.ou go through sectors would be industrials. we like industrials. we like technology. they have a lot more overseas exposure, do well when economies are improving, when rates go higher. the once we don't like are consumer staples and discretionary. liz: that is interesting you say that, because utilities and telecom done well this year in the broader market. >> right. that is the reason why they have done well where interest rates have actually gone on where most people anticipated rates to go higher. our forecast is for rates to go higher. they're really expensive group. they're domestically focused. same for domestically focused. don't have international exposure we're looking for. consumer discretionary same situation. very expensive. have worked since the bottom of '09. look expensive. the revision trend actually gotten a lot worse, a lot worse than it had been in the past. companies have been missing numbers in that space. so sort of like, more global cyclicals versus dough es mick