1 00:00:00,240 --> 00:00:04,960 Speaker 1: So you've got a new study that shows main street businesses, 2 00:00:05,760 --> 00:00:07,200 Speaker 1: you know, the mom and pops for lack of a 3 00:00:07,200 --> 00:00:09,400 Speaker 1: better term, are not doing well. 4 00:00:09,560 --> 00:00:11,960 Speaker 2: Yeah, there was a federal program. It was launched in 5 00:00:12,000 --> 00:00:14,640 Speaker 2: twenty twenty and it was to help small businesses and 6 00:00:14,760 --> 00:00:18,239 Speaker 2: individuals restructure their debts. And the point it was to 7 00:00:18,280 --> 00:00:22,280 Speaker 2: help them do it more cheaply and also quicker than 8 00:00:22,360 --> 00:00:27,440 Speaker 2: traditional Chapter eleven bankruptcy. But what they found out was 9 00:00:27,560 --> 00:00:31,000 Speaker 2: that there was an eight percent increase from last year, 10 00:00:31,200 --> 00:00:34,960 Speaker 2: and there are more mom and pops that are going 11 00:00:34,960 --> 00:00:38,240 Speaker 2: out of business, they're filing for bankruptcy. And some of 12 00:00:38,280 --> 00:00:41,599 Speaker 2: the reasons are because of the high borrowing costs and 13 00:00:41,840 --> 00:00:46,680 Speaker 2: weak consumer demand and economic pressures and decline in small 14 00:00:46,720 --> 00:00:51,320 Speaker 2: business ownership and optimism towards small businesses. 15 00:00:51,800 --> 00:00:56,200 Speaker 1: Now, look are small business owners in this country. You 16 00:00:56,280 --> 00:00:58,480 Speaker 1: are the heroes. You are the backbone of this country. 17 00:00:58,560 --> 00:01:01,880 Speaker 1: You don't get near their respect or things that you 18 00:01:01,880 --> 00:01:05,039 Speaker 1: you do. For many, many years, I earned my living 19 00:01:05,080 --> 00:01:08,840 Speaker 1: owning various small businesses. Still have a little side hustle 20 00:01:08,880 --> 00:01:11,880 Speaker 1: that I do, though not a you know, an integral 21 00:01:11,959 --> 00:01:15,800 Speaker 1: part of my existence. But still file all the taxes 22 00:01:15,840 --> 00:01:18,520 Speaker 1: and all the ever you know, paperwork associated with that. 23 00:01:18,560 --> 00:01:21,000 Speaker 1: So I still keep a little toe dabbled in that. 24 00:01:21,040 --> 00:01:23,720 Speaker 1: But like I remember when I sold my radio station 25 00:01:24,440 --> 00:01:27,480 Speaker 1: and it was like such a relief because it was 26 00:01:27,520 --> 00:01:31,200 Speaker 1: getting so hard. Now this is pre you know, a 27 00:01:31,240 --> 00:01:33,200 Speaker 1: couple of years ago. Now whatever, Right, it's been a 28 00:01:33,200 --> 00:01:35,720 Speaker 1: long time, but I remember being done with it and 29 00:01:35,920 --> 00:01:43,319 Speaker 1: just saying, it's gotten so hard to not only start, 30 00:01:43,480 --> 00:01:46,920 Speaker 1: even start, but maintain a small business and the work 31 00:01:46,920 --> 00:01:49,040 Speaker 1: that goes into it versus the reward that comes out 32 00:01:49,040 --> 00:01:52,240 Speaker 1: of it. I'm done with that forever, right, Like I 33 00:01:52,280 --> 00:01:55,760 Speaker 1: got the entrepreneurial spirit out of myself at a you know, 34 00:01:55,800 --> 00:01:57,200 Speaker 1: at a young age, and I used to have it. 35 00:01:57,240 --> 00:01:59,320 Speaker 1: I used to, you know, think all I would think 36 00:01:59,360 --> 00:02:03,240 Speaker 1: of was creativity, creative ways to do things, new programming, 37 00:02:03,240 --> 00:02:04,800 Speaker 1: to put on new things that you know, we could 38 00:02:04,800 --> 00:02:09,720 Speaker 1: do to broadcast. And it's just like that was so draining. 39 00:02:10,160 --> 00:02:11,840 Speaker 1: I think about it that in my twenties and thirties 40 00:02:11,919 --> 00:02:13,680 Speaker 1: versus trying to do that in your forties. And there 41 00:02:13,680 --> 00:02:15,160 Speaker 1: are people who get up and do that every single 42 00:02:15,240 --> 00:02:17,680 Speaker 1: day to make this country work, and they're getting blood drawn. 43 00:02:18,120 --> 00:02:21,799 Speaker 2: Well, like going back to the healthcare conversation that we had, earlier. 44 00:02:22,360 --> 00:02:25,679 Speaker 2: We're with a big company, so they're able to negotiate 45 00:02:25,800 --> 00:02:28,680 Speaker 2: on scale. Yeah, imagine if it's a small business and 46 00:02:28,760 --> 00:02:31,960 Speaker 2: you only have two, three, maybe four employees and you're 47 00:02:32,000 --> 00:02:36,560 Speaker 2: still providing health insurance, that cost is even higher. 48 00:02:36,639 --> 00:02:38,200 Speaker 1: Well, and it was always like the little things you 49 00:02:38,240 --> 00:02:40,600 Speaker 1: had to think about that nobody processes. So if you're 50 00:02:40,600 --> 00:02:42,959 Speaker 1: a small business and you're right like we work for 51 00:02:43,000 --> 00:02:45,519 Speaker 1: a big company. You know other Indus people that own 52 00:02:45,840 --> 00:02:50,320 Speaker 1: radio stations, TV stations in this industry, they're big companies. 53 00:02:50,639 --> 00:02:53,000 Speaker 1: But as a small entrepreneur you had to think about 54 00:02:53,000 --> 00:02:58,239 Speaker 1: things like with the FCC, there were different reporting requirements 55 00:02:58,240 --> 00:03:01,520 Speaker 1: based on how many employees you had. Employee list if 56 00:03:01,560 --> 00:03:03,880 Speaker 1: it was below a certain level was way lower. The paperwork, 57 00:03:03,919 --> 00:03:05,799 Speaker 1: the cost of at the attorney's fees, all that was 58 00:03:05,800 --> 00:03:08,200 Speaker 1: way lower. So we had to be super cognizant at 59 00:03:08,240 --> 00:03:10,440 Speaker 1: all times of how many people actually working for us 60 00:03:10,639 --> 00:03:12,080 Speaker 1: to stay under the number the. 61 00:03:12,120 --> 00:03:13,200 Speaker 2: Actually didn't want growth. 62 00:03:13,400 --> 00:03:14,799 Speaker 1: No, No, I mean like, well I would have to 63 00:03:14,880 --> 00:03:16,959 Speaker 1: do it. Every decision I would make would have to 64 00:03:17,000 --> 00:03:18,640 Speaker 1: be okay, how many people who have working for us? 65 00:03:18,680 --> 00:03:20,799 Speaker 1: Can somebody do this? If not, can I do it? 66 00:03:21,080 --> 00:03:22,799 Speaker 1: Because we have to stay under this number because of 67 00:03:22,840 --> 00:03:24,280 Speaker 1: all the things that opens up you have to do 68 00:03:24,440 --> 00:03:26,560 Speaker 1: same thing with like Osha and all these other things. 69 00:03:26,680 --> 00:03:30,239 Speaker 1: Right that the average person, and I'm not blaming anybody 70 00:03:30,280 --> 00:03:31,720 Speaker 1: goes to work each day. I'm one of those guys 71 00:03:31,800 --> 00:03:34,200 Speaker 1: now right. I'm cognizant of it because I've been on 72 00:03:34,200 --> 00:03:36,520 Speaker 1: the other end of the paycheck. I've signed checks on 73 00:03:36,600 --> 00:03:40,119 Speaker 1: the front. But the average person who gets a paycheck, 74 00:03:40,720 --> 00:03:42,040 Speaker 1: and God bless you if you go to work and 75 00:03:42,080 --> 00:03:44,520 Speaker 1: you're earning that money and nobody's saying you're not, but 76 00:03:44,640 --> 00:03:46,400 Speaker 1: you don't understand a lot of times it goes into 77 00:03:46,480 --> 00:03:48,320 Speaker 1: that check and the person behind the scenes on a 78 00:03:48,440 --> 00:03:50,760 Speaker 1: small business who especially may not have you know, some 79 00:03:51,040 --> 00:03:54,840 Speaker 1: robust HR department or or or you know, robust accounting 80 00:03:54,960 --> 00:03:58,200 Speaker 1: firm working for them. It's a war zone out there 81 00:03:58,280 --> 00:04:00,280 Speaker 1: right now, and we are not doing anything to help 82 00:04:00,360 --> 00:04:00,800 Speaker 1: these people. 83 00:04:01,360 --> 00:04:05,720 Speaker 2: Some other bankruptcy trends Chapter thirteen Consumer bankruptcy filings. They're 84 00:04:05,760 --> 00:04:08,280 Speaker 2: also on the rise. Over one hundred and eighty thousand 85 00:04:08,360 --> 00:04:11,320 Speaker 2: cases have been filed through November of this year, which 86 00:04:11,400 --> 00:04:13,640 Speaker 2: is a five percent increase from last year. 87 00:04:15,240 --> 00:04:18,800 Speaker 1: And again, the question becomes, if we get into a 88 00:04:18,920 --> 00:04:22,560 Speaker 1: world without small business owners, which is the as you're 89 00:04:22,640 --> 00:04:25,760 Speaker 1: laying out in great detail there statistically, where we're headed. 90 00:04:26,680 --> 00:04:28,960 Speaker 1: What does that look like like? 91 00:04:29,080 --> 00:04:29,120 Speaker 2: What? 92 00:04:29,279 --> 00:04:33,000 Speaker 1: What does that? What does our country look like if 93 00:04:33,040 --> 00:04:38,880 Speaker 1: we just have large companies, many of them foreign, and 94 00:04:39,000 --> 00:04:41,760 Speaker 1: those that are here detached from any sort of sense 95 00:04:41,800 --> 00:04:46,360 Speaker 1: of humanity or civic pride. I mean, remember you, you 96 00:04:47,360 --> 00:04:49,080 Speaker 1: showed this to me. I think it was you that 97 00:04:49,160 --> 00:04:53,279 Speaker 1: sent this to me. Some guy on Twitter did an 98 00:04:53,360 --> 00:04:56,599 Speaker 1: intense breakdown of the Dell guy. Right, did you send 99 00:04:56,640 --> 00:04:58,520 Speaker 1: that to me? I did, yeah, and I retweeted it 100 00:04:58,560 --> 00:05:00,760 Speaker 1: at Rob Kendall. So yes terday, Case and I did 101 00:05:00,800 --> 00:05:03,440 Speaker 1: a big segment on Michael Dell I think is the 102 00:05:03,480 --> 00:05:07,160 Speaker 1: guy's name. He's the CEO now of Dell Technologies, right, 103 00:05:07,160 --> 00:05:10,039 Speaker 1: the computers, the chips, ba blah blah blah. And he's 104 00:05:10,080 --> 00:05:14,919 Speaker 1: getting all this praise because he has given money to six. 105 00:05:14,800 --> 00:05:18,159 Speaker 2: Point twenty five billion dollars to fund the Trump accounts. Yeah, 106 00:05:18,279 --> 00:05:20,160 Speaker 2: the the twenty five million kids. 107 00:05:20,040 --> 00:05:21,760 Speaker 1: Right, these savings accounts that are being set up for 108 00:05:21,839 --> 00:05:24,840 Speaker 1: kids that are born during Trump's term, and he's giving 109 00:05:24,920 --> 00:05:26,479 Speaker 1: money to part of that. People are like, oh my gosh, 110 00:05:26,560 --> 00:05:28,279 Speaker 1: this is so great. And I said, well, wait a second, 111 00:05:28,960 --> 00:05:31,960 Speaker 1: I said, I've got a major concern not about philanthropy. 112 00:05:32,160 --> 00:05:33,840 Speaker 1: This guy wants to give his money to help kids. 113 00:05:33,880 --> 00:05:36,320 Speaker 1: It's great, but you've got a guy essentially buying his 114 00:05:36,400 --> 00:05:39,880 Speaker 1: way into the government when his company is a major 115 00:05:39,960 --> 00:05:45,640 Speaker 1: beneficiary of government policy and more importantly, government money. It's 116 00:05:45,720 --> 00:05:48,640 Speaker 1: Jim Mersay all over again. I've never given Jim Mersey 117 00:05:48,640 --> 00:05:52,120 Speaker 1: any credit for his philanthropic nature because a lot of 118 00:05:52,200 --> 00:05:55,039 Speaker 1: that money that he earned came by force from taxpayers, 119 00:05:55,080 --> 00:05:56,960 Speaker 1: because we had to pay for that stadium, which is 120 00:05:57,040 --> 00:06:00,760 Speaker 1: the primary source of his wealth, the expayers paying for 121 00:06:00,839 --> 00:06:03,560 Speaker 1: Lucas Oil stadium. It's like, we just gave him money. Well, 122 00:06:03,640 --> 00:06:05,440 Speaker 1: is he philanthropic if he took money from me and 123 00:06:05,480 --> 00:06:07,600 Speaker 1: gave it to somebody else. It's the same thing with 124 00:06:07,680 --> 00:06:13,280 Speaker 1: this guy. Dell Technologies has been an immense beneficiary a 125 00:06:13,400 --> 00:06:16,920 Speaker 1: recent government policy related to chips and things going on 126 00:06:17,080 --> 00:06:19,520 Speaker 1: here and this guy and people were like, well, there 127 00:06:19,600 --> 00:06:22,800 Speaker 1: goes rob just pouring cold water on everything again. And 128 00:06:22,880 --> 00:06:24,880 Speaker 1: then some guy on Twitter, which we reach tweeted. I 129 00:06:24,920 --> 00:06:26,880 Speaker 1: retweeted at Robin Kendall, you want to read it went 130 00:06:26,960 --> 00:06:29,719 Speaker 1: through the breakdown on how much this dude has actually 131 00:06:29,760 --> 00:06:32,279 Speaker 1: benefited from the government that now he's buying back into. 132 00:06:32,560 --> 00:06:34,680 Speaker 2: Well, the one thing that I that stood out to 133 00:06:34,800 --> 00:06:39,360 Speaker 2: me was after that announcement was made, Dell stock jumped 134 00:06:39,400 --> 00:06:44,360 Speaker 2: four percent, so they gained six billion dollars in market 135 00:06:44,480 --> 00:06:47,360 Speaker 2: value from the six billion dollar donations, so that was 136 00:06:47,400 --> 00:06:48,200 Speaker 2: in that neutral and. 137 00:06:48,240 --> 00:06:49,560 Speaker 1: He got a tax write off for all that money 138 00:06:49,560 --> 00:06:51,720 Speaker 1: he gave away. So he's made huge amounts of money 139 00:06:52,520 --> 00:06:54,560 Speaker 1: by doing this, which is exactly what I said. And 140 00:06:54,600 --> 00:06:56,200 Speaker 1: I always find this so funny that people are like 141 00:06:56,440 --> 00:06:58,040 Speaker 1: with me when I will say something that is just 142 00:06:58,360 --> 00:07:02,039 Speaker 1: it's irrefutable what I'm telling them, but because it doesn't 143 00:07:02,160 --> 00:07:05,240 Speaker 1: sound nice, well, it's like he's doing it. What am 144 00:07:05,240 --> 00:07:07,360 Speaker 1: I supposed to do? Not act like that's not happening. 145 00:07:07,440 --> 00:07:09,680 Speaker 1: Am I supposed to just not say anything about it? 146 00:07:10,200 --> 00:07:12,800 Speaker 1: It was a great business move on his part because 147 00:07:12,840 --> 00:07:15,840 Speaker 1: he's buying into the government, he's increasing his stock value, 148 00:07:15,920 --> 00:07:18,880 Speaker 1: he's getting the tax right up, and they're benefiting from 149 00:07:19,000 --> 00:07:21,800 Speaker 1: these policies that we're paying for as taxpayers. Am I 150 00:07:21,880 --> 00:07:24,480 Speaker 1: supposed to be excited that some guy who's boosting his 151 00:07:24,600 --> 00:07:27,240 Speaker 1: wealth off of my back is giving some of that 152 00:07:27,400 --> 00:07:30,200 Speaker 1: back to the taxpayers. Well, and the select ones, not me. 153 00:07:30,400 --> 00:07:33,000 Speaker 2: The other thing you have to think about is this 154 00:07:33,240 --> 00:07:38,040 Speaker 2: isn't tax free, it's tax deferred. So when that money 155 00:07:38,880 --> 00:07:41,600 Speaker 2: comes of age, when those children are eighteen, they're going 156 00:07:41,640 --> 00:07:44,680 Speaker 2: to be taxed on that money, which will go back 157 00:07:45,080 --> 00:07:45,800 Speaker 2: to the government. 158 00:07:45,880 --> 00:07:48,400 Speaker 1: That's right. Yeah, So anyway, I just thought that was 159 00:07:48,480 --> 00:07:51,640 Speaker 1: fet that we're talking about this, that we had mentioned 160 00:07:51,680 --> 00:07:54,520 Speaker 1: that yesterday, and people some people are like getting very 161 00:07:54,560 --> 00:07:57,000 Speaker 1: angry about it, Well, nothing will make you happy, and 162 00:07:57,040 --> 00:07:58,040 Speaker 1: I was like, no, you have to look at what 163 00:07:58,120 --> 00:08:01,360 Speaker 1: this guy's doing. He's using the governor meant to enhance 164 00:08:01,440 --> 00:08:04,840 Speaker 1: his own wealth and portfolio and the profile of it. 165 00:08:04,840 --> 00:08:07,720 Speaker 2: And it comes off as a pr move that he's 166 00:08:07,800 --> 00:08:08,320 Speaker 2: helping there. 167 00:08:08,440 --> 00:08:10,360 Speaker 1: That was just so great that that dude went into 168 00:08:10,360 --> 00:08:13,040 Speaker 1: great detail. But I was like, as usual, Casey least 169 00:08:13,080 --> 00:08:14,000 Speaker 1: favorite part of every show.