Title: TWIB: Business beat

" Welcome back it is time for the business -- as always each week we focus on some of the business stories making headlines. With any CN's own Dow marker Peter now he is indeed. Good to see it. Does well they don't -- as well. We're talking about that in the last segment -- up. All right we start with -- you know unpleasant thing not all that unexpected for the state of Massachusetts Governor Patrick said this past week that he's. Got close to a 600 million dollar budget shortfall. And that means up to 10000 state workers may need to be late job I mean this is tough first of all for anybody that may lose their job very tough for him politically --"

" Yeah -- technically 2000 positions eliminated -- that can you know that concluded attrition that could include you know things aside from. Layoffs. I think Al -- limits say I don't think this over I think the 600. You know million dollars is potentially a worse problem than that. That -- get a little bit gubernatorial campaign Charlie Baker Republican candidate he's the NF secretary said the thing you gotta do a situation like this is playing for the worst. And over and over again state masters hasn't plan for the worst -- get to talk with Steve -- tacos the Senate ways and means chairman. Put it up you know you take away all the onetime federal money you stirred up next here with a billion dollar hole the got to plug so I think we can -- into the sun -- I think you're --"

" Who sent the 600 million dollar for this fiscal year is more -- going to be the number. But the big issue is what you just said this a structural deficit going forward. The other thing Peter and Mike that I think has to be noted it doesn't give us much consolation. Every other state in the nation is going through this New York I think has any. Fifteen billion dollar projected deficit over the next three years so this is hit all states. Including messages."

" Absolutely California hit New Hampshire this past week as well. Also this week much anticipated milestone was reached the doubt crossed over the 10000 mark and did finish. Over 10000 for the first time in a year so I don't know if these are these psychological things I don't know how important is how important is it really too because emotional component is a big part of investing its --"

" at a stock market definitely has you know is prone to sort of manic depression. I -- really I like I know I liked out 10000 the first time around on March 20 ninth 1990 now and I sort of wish. No the last ten years maybe it kept going higher instead of -- what it had done but. You know it's very addition to see this milestone he'll get even as so many analysts say you know the market -- oversold to march. And now this appears to be a rally -- getting ahead of the fundamentals so you know it's if it stays around 10000 but. Sure wish the last year hadn't happened. And all of that at at."

" One I think it's psychological I think that's positive and I think it reflects confidence and as jobs are lagging indicator in theory the market is forward thinking. Indicator the other thing is I wouldn't be surprised to see us go back under 10000 but within six months we're gonna be at 11000."

" All right you heard it here in front well all right also this past week of flip flop from the New York Times this was interesting there are no longer selling the Boston Globe. The times says papers finances have improved since the unions agreed to concessions not only that but they didn't get. I think what they're hoping for the bids for the -- well."

" I think -- that's exactly it I mean I hate to say it. Let's we all have to hope the globe survives and thrives because it's so important to this whole region. I really think this is much more an indication of what low ball -- they got back from the Steve Taylor group and from the private equity firm rather than you know real -- health for the globe. And you know if you're looking at getting maybe eighty million dollars for the paper you -- just kind of sit on for a while the real estate alone in this twenty acres in Dorchester. You know to. -- quality and hope that a year from now the economy really is better in the Dallas not just at 11012. Or thirteen Peter let me universities sometimes ask me questions. You had a distinguished career at the Boston Globe used they'll know folks who are there. What is up morale and psychological impact of all this inside the globe. You know it it's certainly. It's nice to know you have some stability there's not a lot of love for the new York times company and many people feel that they've really been kind of put through the -- by the near times company -- six months but. At least you don't have the sort of wrenching change of going to yet another owner whose first job I hate to say would be getting rid of several hundred positions that the globe is it still. As old you know a major fundamental structural problem but the business."

" Okay we have just a few seconds us we wanna talk about this because I know you're doing just a few seconds about Cisco Systems paying three billion dollars for star what you think. Great news for the region. This a cool company that does a lot of neat things like video -- your cell -- Really a great sci -- by Cisco in New England talent and great deal for -- to -- the CEO fourth company that he started. Successfully sold great news great note to end on that is it for this week in business I'm Mike Davis and I'm Paul -- thanks for joining us believe in the patriots. Have a great week."