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Money in Your Pocket: 6-19-17

By Clip Syndicate
Rick Reagan joins Dan Cummings to see how Amazon buying out Whole Foods affects your shopping and your investments.

http://eplayer.clipsyndicate.com/view/12463/6965195 Video: Money in Your Pocket: 6-19-17
Rick Reagan joins Dan Cummings to see how Amazon buying out Whole Foods affects your shopping and your investments.
http://chic.clipsyndicate.com/video/playlist/12463/6965195?cpt=8&wpid=2637 Mon, 19 Jun 2017 10:43:35 +0000 Money in Your Pocket: 6-19-17 Rick Reagan joins Dan Cummings to see how Amazon buying out Whole Foods affects your shopping and your investments. http://chic.clipsyndicate.com/video/playlist/12463/6965195?cpt=8&wpid=2637 WSYR ABC 9 Syracuse sunday. dan: on friday amazon surprised competitors and wall street by buying whole foods. while we don't have a whole foods right here in cny, it can still make a big impact on us. rick reagan is here to explain why. rick, it was a big day for amazon and pretty much all grocery stocks. why? rick: friday stock price moves amazon +3.1% wal-mart - 6.5% costco - 6.9% target - 8.4% kroger - 14.6% dan: so without a whole foods close to most of us, how does this directly impact the average viewer? rick: widening food gap dan: so how do you see this changing the industry? rick: there is no other disruptor like amazon. none. they don't care about profits so much as they do dominating the marketplace. they did it to books, and then the cloud and internet retail. wal-mart makes billions a year more than amazon, yet they are worth half as much. amazon is a bet on the future. dan: you said you think this will drive down food prices or at least contain them. that is a good thing. is there a downside to this? rick: yes the local mom and pop store and even some big well respected regional players like wegmans. dan: do you own amazon stock? rick: yes, and anybody who owns a growth mutual




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