right across the street from 1 dillards doing $125 a foot.ou can run enough -- if you read set up, say a portion of that, you would get to a much much higher number then when the retailers . the family and client to this now when you have sears and macy's dumping in one million square footage on the market? you could argue there's too much supply. look at the core portfolio that dillards has, it's an attractive portfolio. if you have mauled $1000 per square foot -- and the list of --t doing similar to that there's a lot of throughput and dollars there. i could open up a store and generate a lot of income at the right rent. i could find a concept that would generate a lot of income. know where that clears is at a price. it's just a mass game -- where the price, you can look at where this is playing -- it's a better portfolio than that. >> obviously you look at shareholders of jailer dillard, family controls most of it. biggest outside shareholder with a stake under 10%, he spoken with david come in to what extent are your basel and here? >> i'

there is a sears wrapper instead of a dillards rapper but i would argue the dillards wrapper is worthot more. the average rent is 470% for. as they capture that space, we think the average quality within a diverse portfolio has better demographics, higher growth, and higher household income. over time, if you just converted this. this isn't the strategy we've been advocating for. over time, if the retailer didn't work -- if you converted that rent to $11 a square foot and we have done a mall by mall analysis, we think that would be market rent that would get you to 500 million in net oi. and that gets you to a $300 stock price. not pushing for dillards to spin off the assets and put it into a real estate investment trusts, right? >> was $400 million. there is no reason to, you know, over leverage the story. you can do this with cash flow. you can put any market rent you want on it and you will get to a number in the hundreds. a lot of people feel it is undervalued, but it has a lot less at the top rate. ,f you put the first valuation that is about $150 per square foot. the marginal bu

activist investor snow park is looking at property value of dillards. shares up 5% earlier.y are now trading down more than 5%. abigail, wise the stock low? >> i think what could be happening is it is already price. shares are up about 60% from may and the year today and it is probably the fact investors think they will unlock this real estate potential or take the company private. the bloomberg -- -- we seethe same they are going in the wrong section. investors want help. if we take a look at another great function, is a mavs function. this is a map of the united states. -- snow park is saying this dollars -- $200 per share. it seems somewhat reasonable and our analysts says they are very likely to step in and in terms of reach, they have got to do something so maybe it will happen. very interesting, but a family is involved. --she was saying she thought however, they tried to buy them then. also, maybe it is going to be a little different. if we take a look at the bloomberg, this is a long-term look at the shares of dillards and this channel suggests they the case perhaps

i've been a good at dillard's. over . the philadelphia. does it but what about your part of me did you feel like it was good thank. you but only if you need to find him. in down there i mean. no nobody can i mean no one. here to take him he just he just he's. here where you said ok i'll have a you didn't do doesn't it don't have an internet you gotta i mean. she can see what . she should do just. for us is just a month or so just as i said that and you know i'm here if you own through when. i don't. well. when i said to myself that i think. you want to see how government documents on your fish. i mean i. guess is you. know you know couldn't. have made me someone coming to me more fuk you know what i mean a division of each. leg like. a look i want to. tell. you of my if you look up you look. up in english. and you. measure like you don't know. if. i've. got to shit. like. that nor does that mean for me you know it's. as cynical as if you. contributed for the progress of the war. the minutes of. the economy off the wards. and many many coun

out xr up more than 3% it was a number of department stores that actually outperformed, kohl's and dillards up 5% tj maxx, up 4% macy's and j.c. penny both up 4% is that th the start of a retail resurgence let's go to the man who called the worst chart in the whole world. >> it has been for six or so months making it a series of higher lows and lower -- you got it got the point. here's the deal. we are overstored as it relates to department stores they've been going down for almost two years now, the fact we're starting to see these bounce a little bit after a series of strategic deals. back to the amazon purchasing whole foods for $14 billion. the announcement that i think helped nike a whole lot today. that they are going to be opening a store front on amazon, a digital store front. these are strategic deals. they speak to the challenges in retail and when you look at the store, we know this well that there is just way too many of them. they need to consolidate and close some of the underperforming stores some of the names have a lot of opportunities as it relates to the real estate marke

3% this week alone it was a number of the department stores that actually outperformed kohl's and dillard's. max and macy's and jcpenne were up 3% let's go straight to the man who called the xrp the worst chart in the world. >> it has been it's been making a series of higher lows and higher highs -- excuse me, lower lows. you've got the point here's the deal. we are over stores department stores have been going down for two years now the fact that we're starting to see some of these names bounce a little bit after we've had a series of strategic deals. amazon purchasing whole foods for $14 billion. the announcement that i think helped nike a whole heck of a lot that they are going to be opening a store front on amazon. these are strategic deals. they speak to some of the deals in retail and i think when you look at the department stores we know this very well, that there is just way too many of them they need to consolidate they need to close some of the under performing stores. the real estate market there's some good real estate to monetize there they're cheap. we all know thesentiment is

barry dillard says while he's not a fan of consolidation for his own companies, he thinks more deals are inevitable. >> i think all traditional media players are towers because they no longer have any pricing power. but the internet has done is taken away pricing power used to be when ever you have a closed system, cable close d system, network closed system, it's easy to race prices when those systems are in vaded by the ber neber net, they're vulnerable >> weighing in on the acquisition of time warner, he said he think it is deal will be approved despite president trump's criticism. >> i think it's superb for warner shareholders. but like all of these things, i question the strategy of if growth this, you add that on argument of synergy or not really consolidation, they don't really compete but not really, they don't really compete or not in same line of business, but i'm always skeptical. >> there's a lot of talk about what deals will follow at&t time warner, what rivals verizon might look to buy in the content space to keep up the ce oh, shot down the idea that verizon is interes

dillard. for our music, it's alou

dillard for his commitment to our community. george is a welcoming part of the fayette county, community. the grace he's shown in peachtree city is unparalleled. i'm truly honored to have dr. george dillard with us today. thank you, mr. speaker. i yield back. the speaker pro tempore: the gentleman yields back. the chair will entertain up to 15 further questions for one-minute speeches on each side of the aisle. for what purpose does the gentleman from new york rise? >> to address the house for one minute and to revise and extend my remarks. the speaker pro tempore: without objection, the gentleman is recognized for one minute. >> mr. speaker, my colleagues, i rise today to honor and congratulate mr. ralph p. avery of new york who will soon be awarded the french legion of honor medal. mr. faso: mr. avery served in the u.s. navy during world war ii as a crewmember of an lct-571 landing craft built in upstate new york, he bravely stormed the beach on d-day. on that historic day, he courageously manned a .20 millimeter gun, firing u

dillards is unleveraged real estate company that is mass cace raiding as a low from duck activi -- productiveany's entire income as a retailer back to you sarah. >> more activist activity in retail thank you. meantime apple enjoying a sizable run so far this year stock is up nearly 30% the company does report earnings tomorrow after the close can ceo tim cook keep up the momentum josh joins us with a preview. >> that's right. q-3 eps 57-on-revenue of 44.9 billion that would represent gains. not focused on q-3 specifically that quarters guidance they're 7.1 billion and revenue has fallen for five straight quarters apple appointed the director of that region. and forced to play a political game with beijing. for example in order to comply with new regulations it's now removing vpn apps. those are apps that can allow users to break through government imposed firewalls it's up nearly 30% trying to trade it am does not miss earnings expectations too often when it did does the stock does typically get punished one week later it's down on average 4.5% >> josh thank you very much. when we come back t

an active investor is targeting dillards and wants to unlock real estate portfolios.n we get rotation down in retail. the broader macro question, you look at the ten-year yield and they wind upcally and positive correlation. you wind up a buying the smp, selling the bonds and have yields when it is going higher. hence, positive correlation when it comes to yields and equities. in the past three years you have only seen it three times or you have a negative correlation between the ten-year yield and s&p meaning you are buying equities and bonds at the same time. now they correlation is deeply negative and it looks to be touching the negative saw back in 2015 in march, potentially should we get there. what does that mean for rotation? we talk about volatility being low, but within the sector there is a time of movement, you have a lot of buying and bonds. russ, make sense of it for me. russ: this is a big deal. ,his is a pretty geeky topic correlation. but when you think about multi-asset portfolio, the one thing bonds have in good for is they are reliable hedge. bonds

the market right now, the dow is hitting an all time high and the day is boosted by boeing dillar dillard's falling , small capitol is pushing the company to lease its states. >>> right now steven mnuchin is speaking >> we are going to make business tax competitive again and bring back trillions of dollars money that's offshore that's going to invest in america in jobs and factories and capitol. >> he's speaking at an event that's hosted by freedom partners and americans for prosperi prosperity those are two conservative groups affiliated with the cope brothers that's the same theme that i heard from gary cohn he said the next three to four weeks are quote, "crunch time" for tax reforms. that was the topic of the white house cabinet meeting that was held earlier today everyone was talking about how to get it done sometimes this year he said he's still working on the baseline of 15% corporate rate there is been some mixed messages from the administration president trump tweeting just this weekend, the nasenate shou vote against on the healthcare before taking on big votes ga gary cohn reassu