Transcript for Radio Shack Shake-Up, Two New Nooks, Microsoft 8 Woes
Wednesday September 26 hello everyone I'm -- -- in New York. We're coming -- -- -- triple digit drop in the Dow yesterday and it looks like the slide may continue. Joining me now to discuss the top business headlines at this hour is Jeff MacKey -- -- break out on our partners and finance good morning Jeff. Good morning you've got off to kind of well he faced a well we knew that rally wouldn't last -- -- We did it got a little ahead of itself and market never ever goes down it's probably headed for something little Graham. We had it been ages I don't think we've fallen more than 1% tonight sixty trading days and so this -- long overdue. And to be honest errors were talking about it is a matter of scale what you get enough kind of down point 1% days -- -- If -- 1% this seems like a big hairy deal -- gonna panic this is business as usual. But what what we -- here because we did have strong numbers yesterday on home sales and consumer confidence. So why now why did the market -- this moment to move our. We really saw a lot of weakness related to Spain Spain is a wild Harvard background before when things -- gone wrong in Europe the traders get nervous because we have no control over that whatsoever. And things -- hairy over -- -- austerity riots going on Spain. That's ugly and take a look at those riots because several hours as they want to crack down and tighten their belts and -- this monetary stimulus idea because that -- austerity. That posterity looks like that's what people are hungry in the streets looked like. That's very very battle and human tall and yours seems almost -- to imagine -- a financial told lots of people on the street worried about yesterday. And it came time to -- pulling your horns a little bit maybe see how the -- them off plays out so -- this all resonating from Spain or are also. You know we've been getting some criticism from the fat from within the -- Yeah you know it -- and there should be that was as we've discussed during the quantity is and three. Was he who she sort -- -- forty odd billion dollars a month. And these mortgage backed securities rich guy as we'd last time we -- -- -- Baxter's like 2008. That didn't seem to turn out so wells of the Fed's buying -- -- those things. We're not sure why and it seems like me it's not agreed that many jobs that matters problem in the first place seems a little any factual. And very expensive and you're gonna see some criticism -- the Fed. The alternative would be under the old regime the Federal Reserve would be to not hear anything from any other fed governors. So I guess it's good that we have open communications its -- sense that to be open communications are telling us that they don't know what's going on -- You're certainly not that spreading confidence the shore. Now a shake up this morning at RadioShack CEO James who stepped down. Now does he blame for the company's recent troubles or is this just a business that can't compete with the online -- -- They religion resurrect Henry Ford himself -- Current -- this company back -- -- It's just RadioShack you got like ten billion dollars tiny little shack just soars it's not a matter -- competing online are competing with obsolescence. -- of course they're going out of business of course in huge trouble. And it doesn't matter you you change CEO as a -- -- some of the the activist investors. Pour out there and they don't really have an -- forward either these are five and dime stores. There they're just kind of can go away you know risen to a five and dimes or or is a molten metal can -- -- kind of sit around on the -- -- -- -- categories -- your facts either. It's tough to -- but then again I'm not offending Japanese shareholders disappears items helped earn our shareholders left. Again. It's -- let me isn't ours I wanted to. Have never ever matter as a graphic warm and now also. About Microsoft. Out that -- Great but yet Microsoft. -- History. I don't know nothing is a great hasn't stopped Microsoft the last three decades arms and -- stop them now. When it -- didn't kind of it's an aggressive move for Microsoft are actually changing the entire construct of windows. Which is new for them and it's a little touch Tamil any type of thing that people by all accounts after used to. And terms they're being flawed well of course it's -- also offers -- when it comes out. Apple away they talk -- flawed mail send out little fixes. That you download and as closely gets better has -- yeah I mean that this product is not being acclaimed as anything great but then again. It I don't know why anyone expected to all the -- need Microsoft is that corporations -- this product -- and that we just fine and corporations will in fact adopters because they don't have many choices. That's right -- out now Barnes & Noble hasn't failed to new note tablet how do you think. These are gonna -- competitors like -- patent Amazon Kindle this this market is getting really fears. India and yell -- her husband is a positive I think Apple's going to kill the Barnes & Noble -- the -- when it was I flipped it made some positive. I'd like yeah. Yeah that's nice -- -- I don't know we did if you wanna hire certain company I -- -- steer away from making another tablet type of products -- we can compete with. Apple and cool and everyone else is getting. Vary -- -- meltdowns at Barnes & Noble doesn't have a ton of alternatives I understand why they're doing is that a nice installed base of book buyers. But they don't really have an edge in this business there's a lot of -- alternatives and you get books on albums so I'm not sure what special sauce they think their inhabitants Amazon who was. Got more money to compete -- Barnes -- frankly. But hey hey they're -- swing how -- holding on our Barnes & Noble are they okay. No -- they're holding on the way you think -- -- what they're doing better than borders did riches beyond borders is getting boarded up so. That's damning -- with faint -- they're trying something but in terms of whether or not gonna succeed you know the bookstore. I used to love bookstores are still love the smell of -- good books or -- don't get to see them -- often. Yeah there's a reason for back has it's kind of a luxury of way to spend your afternoon verses just downloading a book and having it. I now but I NSA -- old school that way I like the touch and the feel of the book -- tried that I download books to my Kindle. But it's it's just not the same satisfying read somehow I lose track where I am in the book the whole thing it's just not it's -- time. -- area knowing you're saying and I like that two of them again nice guy drive around a lot I commute and not carrying a huge book. That makes a big difference to me so I'd like -- -- in the room with all the smell of books and read off my -- Point ticket. Take one look at the -- before it looks like it's out of it up about ten points we'll see merry -- Miles to get sick of -- on him.
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