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It's noon here in Venter City, New Jersey, and our nation's capital, Washington, D.C.
03:34
And this is Car Edge Live for a shocking Monday, September 8th.
03:40
Well, every day is a shocking day here at Car Edge Live with your hosts, me, Ray, here
03:45
in Venter and well, Zach in D.C., that's where you are, where I will be tomorrow.
03:54
How are you today, handsome?
03:57
Y'all doing fantastic.
03:58
Grateful to be here with my dad and with the hundreds and golly, man, thousands of
04:02
you that tune in every day.
04:05
We're going to be talking about General Motors here in just a moment.
04:08
Two big stories from GM that honestly, both of them have really blown me away, so excited
04:14
But before we do, a friendly reminder, caredge.com, if we can help you out with anything, folks,
04:20
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We do have a sponsor for today's program, so in about, I don't know, eight minutes or
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so, we'll talk about Delete Me Debt.
04:42
Before we dive into GM, you get to choose your own adventure today.
04:46
Do you want to talk about CEO compensation and decisions that are being made at the
04:49
CEO level at General Motors?
04:51
Or do you want to talk about destination charges and the insane reality that they
04:56
are increasing even more?
04:58
Which path would you like to go down first, Pops?
05:01
I think I'd like to save my CEO compensation rant for later and talk about destination charges
05:09
first because, well, what the CEOs pay themselves really doesn't impact the car buyers out
05:15
there as much as these new destination charges from General Motors will.
05:20
So we're going to play a quick game, folks.
05:21
The headline, though, from the end of last week, GM vehicle prices going up with
05:25
destination freight charge increases.
05:27
So we've seen a lot of automakers say, hey, car prices aren't going to go crazy
05:31
because of tariffs or anything like that.
05:33
They're just model year changeovers and car prices go up.
05:36
We are now seeing payments or, excuse me, prices for cars go up because they're packing
05:42
the destination charge and increasing it even more.
05:44
I am going to put you and our community to the test stat.
05:47
What do you think the destination charge is on a Chevy Corvette?
05:52
We got a sports car.
05:53
It's made in the United States.
05:54
What do you think the current destination charge is on the Corvette?
06:01
That would be $1,695 would be my guess.
06:05
Let's get some guesses in the chat for the Chevy Corvette, what you think the average
06:09
or not the average, the destination charge is the same.
06:11
Regardless of where the vehicle is sold, it's produced here in the United States.
06:15
My dad thinks it's $1,695.
06:18
Dan thinks it's $2,300.
06:20
David thinks it's over $4,000, $5,000.
06:23
Wow, these are some big guesses from our community.
06:26
I was shocked, dad, when I saw that the destination charge on the Chevy Corvette, $1,995.
06:33
Now, we're going to go down in price here, but this is the highest destination charge
06:37
we have over at Buick.
06:38
What do you think the average destination, God, I got a drop average.
06:42
What do you think the destination charge is, excuse me, on the Buick Enclave also
06:46
produced here in the United States?
06:49
That would be $1,695, ladies and gentlemen.
06:56
Dad, let's keep going.
06:58
You want a Chevy Colorado?
06:59
You want to pick up truck from Chevrolet?
07:01
What do you think the destination charge is on that vehicle?
07:03
You know, they got some big mountains in Colorado that they got to get around.
07:08
It's got to be what, $1,895?
07:11
$2,995, GMC Canyon.
07:14
You want a GMC version of the Colorado?
07:16
What do you think that runs you for a destination charge, just the destination charge?
07:20
Well, it's got to be the same $2,995.
07:23
What about the Cadillac Escalade IQ?
07:25
This thing's massive.
07:26
You and I have been on GM lots, on Chevy lots, on Cadillac lots.
07:29
We've seen the Escalade IQ.
07:31
What do you think the destination charge is on that massive new Escalade?
07:34
It's got to be what, $1,995.
07:38
That would be $1,995, ladies and gentlemen.
07:46
The GMC Hummer EV, Dad, it gets even more expensive.
07:49
What do you think the destination charge is on the Hummer EV?
07:53
Well, that's what, a 9,000-pound unit.
07:57
Let's figure they go by the pound, $2,595.
08:00
Dad, it's $2,495, $2,495.
08:04
Now, Dad, with Chevy Silverado 1500, their number one seller.
08:09
What do you think the destination charge is on their volume full-size pickup truck?
08:24
Look at this data, folks.
08:27
You're in Fort Wayne, Indiana, where they produce this, where they do final assembly
08:31
of the Chevy Silverado 1500.
08:33
There is a Chevrolet dealership 19 minutes away from the final assembly plant.
08:41
And no matter where you are buying a GM's, excuse me, a Chevy Silverado 1500
08:45
or a GMC Sierra 1500 or any of these vehicles,
08:48
you are charged the same destination fee of $2,595.
08:55
Consumer Reports has done a great job documenting over the years
08:59
the most of these expensive car destination charges
09:01
and how they've gone up significantly.
09:03
The latest and greatest updates here from GM, Dad.
09:06
$2,600 for their volume unit, the Silverado 1500.
09:10
This is shocking lunacy, whatever word you want to use.
09:16
This is how the tariffs impact your prices without saying,
09:27
well, the tariffs are impacting the prices.
09:31
You know, there is someone somewhere who doesn't want to hear the tariffs
09:35
are raising the prices of goods that are bought and sold in America.
09:40
So rather than GM saying, well, we've had to raise the prices of our vehicles,
09:47
$500, $600, $800 because of the cost of tariffs.
09:52
We're just going to increase the destination charge
09:57
and make it seem as if the price of the vehicle itself didn't go up all that much.
10:05
Just the cost to get it from where it's manufactured to the dealer is going up.
10:10
That is about as bogus a way to increase the price of the goods that you're selling.
10:24
Do we have a breakdown of how much they went up?
10:26
Yeah, a lot of them went up $600.
10:28
A lot of them went up $600 year over year.
10:31
Some of them only went up a couple hundred dollars.
10:33
But the Silverado, for example, went up $600 year over year.
10:36
The GMC Sierra 1500, $600 year over year.
10:39
And let's spend a moment that on this.
10:41
What is the destination charge?
10:43
Can you explain this and break this down?
10:44
And this is a great reminder, folks.
10:46
You can actually get Windows stickers, the manufacturers,
10:49
Monroni label, the Windows sticker back on CarEdge.com.
10:52
We have a free Windows sticker generator,
10:54
and it has obviously the destination charge on it.
10:56
Just Google search Windows stickers, CarEdge, and it'll pop up.
10:59
Can you help us understand?
11:00
Because this shows up on the Monroni label on all new cars
11:03
on the Windows sticker.
11:05
And, you know, when this all sort of kind of came about,
11:09
was that, well, dealers that were located like 19 minutes away
11:13
from the final assembly plant in Fort Wayne,
11:17
at one point in time,
11:20
they didn't pay a destination charge of $25.95.
11:26
And then they thought it would be more fair for everyone.
11:31
If they averaged out what the cost of transporting vehicles
11:38
was to all their dealers, and they would just charge every
11:42
dealer what that average was.
11:46
Well, the problem with that is that you can artificially
11:51
inflate the costs of those destination charges
11:57
so that on some cars out there that are sold in this country,
12:00
the destination charge might be, I don't know, $1,095 or $1,295,
12:06
but on a Chevy Silverado, it's $2,595.
12:11
It is a hidden, it is like the doc fee at dealerships.
12:18
Yeah, I wanted to start there, Dad.
12:19
Let's just start there.
12:20
So this is a profit center for the manufacturer.
12:23
This is 100% a profit center.
12:25
We're going to have to talk about our sponsor for a moment here.
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But then when we come back, I really want to hone in on that.
12:30
Let's just start there because you pay for this.
12:33
You, the dealer, pay for this.
12:34
Then you, the customer, pay for this.
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13:32
That's the nation charge now.
13:33
Let's just start there.
13:36
It's a profit center for the manufacturer.
13:38
And yes, the dealer gets charged the same $25.95
13:45
The consumer gets charged $25.95.
13:49
And in reality, it is similar to the doc fee
13:57
that dealerships charge customers when they buy a car.
14:01
The difference is that with the destination charge,
14:04
there is actually some cost involved
14:08
in getting the vehicle from the final assembly
14:11
place to the dealership.
14:14
With the doc fee, there is zero cost involved.
14:17
It's just pure profit.
14:19
But you can see there is I trying
14:24
to think of a politically correct way of saying this.
14:29
So I'll just say it.
14:31
There is absolutely no reason for the destination charge
14:37
on a Chevy Silverado pickup to go up $600 from 2025 to 2026
14:45
The cost of oil is down.
14:47
The cost of fuel for gas and diesel is down.
14:53
So how do you justify a $600 price increase in the destination
15:02
fee to get the vehicle from the final assembly plant
15:09
You'll just have it go up.
15:12
And it'll appear on the Monroney label
15:15
under transportation, destination, and handling.
15:20
And that is a way for the manufacturer
15:25
to just pick up extra profit when they wholesale every vehicle
15:31
to their dealer network.
15:34
The difference is that maybe it costs them, I don't know,
15:37
$1,500 to get the vehicle from the final assembly point
15:44
But they're charging $2,600.
15:48
And truth be told, the dealer doesn't pick up any profit
15:52
on the destination charge.
15:54
Only the manufacturer does.
15:56
And the only one that gets hurt here, ultimately,
16:01
is the retail customer that buys the vehicle
16:04
because they are overpaying in destination and handling
16:09
charges to get that.
16:10
I mean, there's no way that the cost of that
16:17
went up $600 year over year.
16:20
Something might have gone up that has impacted
16:24
the cost of the vehicle.
16:26
But it wasn't getting it from point A to point B.
16:30
What's remarkable to me, Dad, is it's their volume unit.
16:34
The Colorado 1500 and the Sierra 1500
16:38
are two of their higher volume vehicles sold.
16:41
And that's where we saw a $600 year over year increase
16:44
in the destination charge to $2,595.
16:49
You could almost make a case for the Hummer EV,
16:52
having a $2,495 destination charge
16:55
if that was kind of the outlier here.
16:57
But it's not even the high water mark.
16:58
And the reason I'm saying you could potentially make a case
17:00
for that, it's so heavy.
17:03
Same for the Cadillac Escalade IQ.
17:04
You ever go stand next to one of those
17:06
if it's in your area?
17:07
Look at it, it's freaking massive.
17:09
But your full-size pickup trucks,
17:10
they're your volume movers, to your point,
17:12
these are just volume profit centers for the manufacturer.
17:16
Help me here, I am no good with math
17:19
and I get confused with all the zero.
17:22
But let's say between the Silverado and the Sierra,
17:27
which are the identical models,
17:29
just one's a tad bit more
17:31
because it's a professional grade,
17:32
it's a GMC as opposed to a Chevy.
17:35
But let's just assume for a second, round numbers.
17:39
Let's assume for a second
17:40
that between those two models,
17:42
they sell 500,000, look.
17:46
I just Googled it then.
17:47
We've got last year in 2024,
17:50
560,000 Chevy Silverados sold and 322,000
17:57
So we're up to, yeah.
17:59
Okay, so let's just say for a second.
18:03
Well, I was gonna go call a million.
18:06
Okay, just so we can do easy math.
18:10
So they're gonna wholesale a million of these vehicles
18:17
to their dealers and they're going to charge
18:21
an extra $600 per vehicle.
18:28
Please tell me, young man,
18:30
what $600 times a million is that 60 million bucks?
18:36
Is that $600 million?
18:39
So that's $600 million in extra profit
18:47
because they didn't want to call it a price increase
18:51
It is just, it is such, it's just such BS.
18:57
And we're supposed to pretend, okay,
19:01
that we are too stupid to realize what it is.
19:06
Okay, oh, it can't be the tariffs,
19:10
but it can't be the cost of fuel either.
19:14
I bet you they must be paying them truck drivers
19:16
a whole lot more for each vehicle that they live.
19:19
It's tariffs and they're just finding a way
19:23
to hide that cost to placate somebody.
19:30
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Let's stick to the impact that it has on the auto industry,
20:41
which again, if I'm that customer
20:43
who lives in Fort Wayne, Indiana,
20:45
where the vehicle has final assembly,
20:47
this is ridiculous.
20:48
This is absolutely ridiculous
20:49
that I'm paying even more of a premium
20:52
and ultimately just drives up the price
20:53
of these vehicles nationwide.
20:55
And I know we're picking on GM
20:56
because I have the data for the model year.
20:58
Increases for destination charges,
21:00
but this has been a theme amongst many automakers
21:02
for a long time now just to share it on the screen,
21:04
for example here, Dad.
21:05
This is Consumer Reports and they have an update
21:07
this since February of last year.
21:09
So maybe on our end, we'll have to do some updates here
21:12
because escalated destination charges
21:15
We just reviewed that Jeep's destination charge $2,000
21:19
for some vehicles forwards over $2,000 as well.
21:22
This was back when Chevrolet had the $19.95,
21:27
So we see all of these automakers,
21:29
domestics at least, with really high destination charges,
21:32
which ultimately just jacks up the selling price
21:36
But here's the other thing
21:37
that we're not even discussing, which we should.
21:41
My guess is, this is just a guess
21:43
because I haven't looked yet,
21:45
but how much did the Silverado go up
21:49
besides the destination charge?
21:52
Okay, just the cost of the vehicle,
21:54
the MSRP of the vehicle without the destination.
21:57
So let's just say for fun, it's $400 bucks.
22:05
Okay, my guess it could be a little more, I don't know.
22:08
But call it $400 bucks.
22:10
So you take $400 and you take $6,
22:12
you got $1,000 that these vehicles went up in price
22:19
because they just cost so much more to get to the dealership.
22:22
Now, every $1,000 financed
22:26
cost you about $20 in monthly payment on a 72 month loan.
22:33
I don't know what that breaks out to on an 84 month loan
22:37
plus all the interest,
22:39
but it's gonna cost anybody who buys these,
22:43
whether they pay cash or they finance it,
22:47
it's gonna cost them a boatload more money to do it.
22:50
This is not making anything more affordable
22:55
for people to be able to buy.
22:58
And it's all hidden under the guise of,
23:02
it just costs more to get it from here to there.
23:06
Yeah, we've got from Mark
23:07
and then we're gonna come to Matthew, thank you Matthew.
23:10
Pick it up at the factory.
23:11
This is not an option, unfortunately.
23:14
Well, even if you didn't pick it up at the factory,
23:16
they're still charging you the $25.90
23:18
because they have to, okay?
23:21
There's no, you get to pick it up at the factory
23:23
and maybe you get to avoid the destination charge.
23:26
It doesn't work that way.
23:27
Wish it did, but it doesn't did,
23:30
all the dealerships in Michigan wish it worked that way
23:34
because it'd be a lot cheaper for them
23:36
to go pick up the vehicles
23:37
than to have to pay $2,600 to have it dropped off
23:40
with their lot, but it doesn't work that way.
23:47
It's just a big profit center for the manufacturer.
23:49
I see some comments talking about,
23:50
well, dealers are sleazy.
23:52
It happens at the manufacturing level too.
23:55
This shows up on the dealer invoice,
23:57
they're paying for it and unfortunately,
23:59
you can't just show up at the factory and take delivery
24:01
and even if you could,
24:02
they're still gonna have that on the window sticker.
24:04
It's still gonna be on the MSRP of the vehicle.
24:07
As a friendly reminder,
24:07
that destination charge just show up
24:09
and is rolled into the MSRP.
24:11
So it's not like, here's the MSRP plus the destination,
24:16
It's mandated by federal law, okay?
24:19
That it has to show all the costs have to be itemized
24:23
on a Monroni label on the window sticker of the vehicle
24:26
as mandated by federal law
24:29
so that everybody can see what the breakdown is.
24:34
Hey, again, friendly reminder folks,
24:35
Google search car edge window sticker
24:37
and you can get free window stickers
24:39
back on caredge.com.
24:41
So play around with that.
24:42
You can also access them from the car edge.
24:45
Dad, from Matthew earlier in the show,
24:46
then we're gonna switch gears.
24:48
Thank you, Matthew.
24:49
Cayman will be loaded on truck driven to train,
24:51
to port, driven on a boat through the Panama Canal,
24:54
driven off the boat and onto a truck to the dealer,
24:56
all for 1995, evidently a steal.
25:00
It is kind of wild.
25:01
I'm gonna ask Justin on our team
25:02
when he has time for me to do some research.
25:05
It does seem like the domestic automakers
25:07
are the ones with the highest destination charges.
25:10
Yeah, it used to amaze me
25:13
when I was at the mini dealership
25:15
because if I remember correctly at the mini dealership,
25:19
the destination charge was like $995.
25:22
And none of them were built here, okay?
25:26
And so they were built in England
25:29
or they were built in Austria,
25:30
wherever they were built.
25:31
And then they had to get built
25:33
and then they had to go to a dock
25:35
and then they had to get loaded onto a giant ass ship
25:38
and then they had to sail the ocean,
25:41
the ocean blew to get the, you know,
25:43
whether it was a Baltimore or wherever
25:47
or somewhere in Florida or in the Northwest.
25:51
And then they had to be taken off the boat
25:53
and then they had to either be trained somewhere
25:56
or put on a truck and you think yourself,
25:59
how did they do that for $995
26:02
on each one of these little bad boys?
26:05
And then Chevrolet Silverado is 2,600 bucks.
26:10
Make it make sense, okay?
26:14
Please, how does any of that make sense?
26:18
No, it really doesn't.
26:19
It really, really doesn't.
26:21
You're right, many consumer reports has that data
26:23
that it's under $1,000 for the destination charge
26:25
and that's going all over the place.
26:27
Sort of Matthew's point with his Porsche, $1,995.
26:30
It's getting on boats, it's getting on trains,
26:32
it's going on trucks.
26:33
It's like John Chinde and Steve Martin
26:36
and planes, trains and automobiles, okay?
26:39
It's like doing it all
26:42
and yet it's only $1,995.
26:45
Earlier as well from Matthew, we appreciate it.
26:48
Thank you for the kind contribution.
26:49
Yes, we just did the math on Silverado 1500s and GMCC eras.
26:55
We're thinking GM's picking up an extra $600 million a year
26:59
in revenue because of these increased destination charges.
27:02
Today is full screen.
27:04
Ray, yeah, you know when I cook off full screen
27:07
things are going off the rails.
27:08
Things are gonna go off the rails
27:09
a little bit more here, Dad.
27:10
Another story from General Motors.
27:13
This was from last week as well.
27:16
This is somewhat frequent in public markets
27:18
and also especially an auto GM CEO, Mary Baras,
27:21
sells 40% of her personal stock in the company.
27:24
This was actually getting a lot of traction
27:26
within the industry because a lot of dealers
27:28
are questioning, okay, if the CEO of the manufacturer
27:31
is selling 40%, not 4%, not 8%, 40%,
27:35
is that a sign of something bigger going on
27:38
at the storied automaker here?
27:41
I thought this was really interesting.
27:42
We see Carvana's CEO and family selling stock all the time,
27:46
but that feels a little bit different than this
27:48
when GM CEO sells 40% of her personal stock in the company.
27:52
Well, the first thing that comes,
27:56
it makes you wonder what she knows
27:59
that the rest of us don't.
28:01
This could truly be the epitome of insider trading
28:05
in the sense that she knows what direction GM is going.
28:11
She might know what troubles lie ahead
28:14
and she probably understands that the value of the stock
28:19
could take a hit because of what might be coming up
28:22
And so for her to sell almost 50%
28:26
of her personal stocks in the company,
28:31
that I would think would be some type of learning sign
28:35
for investors that there could be some major issues
28:39
for GM moving forward.
28:42
Because I don't believe just between you and me
28:46
that somebody who makes $28 million a year
28:50
in salary and stock options and everything else
28:55
for compensation as the CEO of that company,
28:59
you know, is suddenly thinking to yourself,
29:01
man, I feel broke, I only made $28 million last year.
29:05
I think I'll sell 40% of my stake in the company
29:10
I just think she knows something that we don't know.
29:14
So probably the best thing to do is to check
29:17
with your Congressperson or Senator
29:20
and see what they're buying and selling
29:21
in the way of GM stock.
29:23
Before we get too far down that,
29:24
I want to turn our attention to here.
29:26
You are here keeping you on the tracks, it's fun.
29:29
Here is your insider activity for General Motors
29:34
You can see there have been six buys
29:36
in the past 12 months and 22 cells of stock.
29:40
In the past three months, zero by six cells.
29:42
And you can see if I scroll down here a little bit more.
29:44
So there have been zero shares bought by insiders
29:48
in the past three months,
29:49
but 1.1 million shares sold by insiders
29:53
in the past three months.
29:55
Obviously you can see Mary Barra,
29:57
it looks like some other executives selling their stock
30:01
So yeah, you could be, and to be clear,
30:03
this was like an option, they executed an option.
30:05
So she bought 607,000 shares at $35 and 49 cents
30:11
and then sold 907,000 at $58 and 24 cents.
30:15
Pretty easy way to pick up some money.
30:18
Those options were definitely in the money
30:19
by the tune of 23 bucks per share,
30:22
23 bucks times, you know, 600,000.
30:25
It's a lot of money, millions,
30:26
tens of millions of dollars going back
30:27
from the pocket of the CEO, which to be clear,
30:29
these CEOs that get these compact packages,
30:31
more power to them, it though, to your point,
30:33
could be very telling the timing of all this,
30:36
especially amidst, we're starting to see signs
30:38
of a potential slowdown for new car sales
30:40
and these domestic automakers
30:43
are certainly impacted by that.
30:44
Well, you know, I gotta believe,
30:46
I mean, obviously she's a pretty smart woman.
30:50
She is an insanely capable woman
30:52
to think about what she's doing as a,
30:54
especially as a woman leading a publicly traded company
30:57
like she is a role model through the roof.
30:59
So maybe she knows that by increasing the price
31:06
of vehicles by as much as they are,
31:08
just through destination charges,
31:10
that that is going to have a detrimental impact
31:15
on the amount of vehicles that they'll be able to sell.
31:18
And so that perhaps the net profit
31:25
could go down, the profit margin percentage could go down.
31:30
And she is well aware of that
31:33
and preparing herself now for that future.
31:38
It just seems to me, I mean, when you raise
31:43
the destination charges as much as they have,
31:46
and what's the average destination increase
31:54
between all of their models? 400 bucks?
31:58
Yeah, somewhere around there.
32:00
And how many millions of cars did GM sell last year?
32:07
How many cars did GM sell in 2024?
32:10
2.7 million vehicles.
32:12
Okay, so what's 2.7 million times $400?
32:18
We're up. Okay, call it three million.
32:20
It's like a billion dollars.
32:21
We're talking about a billion dollars.
32:25
Okay, yeah, jeez, jeez, Louise.
32:30
Yeah, if the American public has to pay an extra 1.2 billion
32:36
this year for their GM products,
32:38
it might impact the amount of sales that GM has
32:43
and could impact profits.
32:46
I'm spitballing here.
32:48
As everybody knows, who's ever watched the show,
32:52
I am not the brightest bulb
32:54
or the sharpest tool in the shed.
32:57
So just spitballing.
33:00
If you are in the market to buy a car,
33:01
do not get taken advantage of.
33:03
Folks, use caredge.com.
33:05
Let us and our incredible team help you.
33:07
So as you're watching this,
33:08
we're definitely focusing a lot on General Motors today
33:10
because of these two stories.
33:12
But if you're not dissuaded,
33:13
we're coming up to the fourth quarter,
33:14
which is the best time of year
33:16
to be in the market for buying a car.
33:19
Use the resources back at caredge.com
33:24
Maybe they needed to sell their stock
33:25
so they could afford the down payment
33:26
on a 2026 GM vehicle at 84 months.
33:29
Corgai's on to sell them.
33:31
But to your point, Dad, what's her salary?
33:33
I mean, she doesn't need to sell any stock
33:34
and she's still making $20, $30 million a year.
33:42
Corporate America is great.
33:44
I mean, it's one of the wonderful things
33:46
you can say about America is that
33:48
if you find yourself in the right position,
33:51
you can do very, very well fine, actually.
33:55
And this just be one of those situations.
33:58
This certainly seems to be one of those situations.
34:01
All right, folks, that's a show.
34:02
Tomorrow we're back at 12 p.m. Eastern time, 9 a.m. Pacific.
34:06
And then on Wednesday,
34:07
we'll be side by side here in Washington, D.C.
34:10
I think we'll do it from the office, but who knows?
34:12
Maybe we'll go somewhere, have some fun.
34:15
Can we do it outdoors?
34:16
You know, I kind of want to.
34:17
We've got the mics.
34:20
I kind of do. The weather is going to be nice.
34:22
Yeah, you know, we could have people accidentally interrupt us.
34:27
It could be a showish interrupt us.
34:30
It could be just it could just be really an interesting day.
34:35
We'll see. We'll see.
34:35
Anyway, folks, tune in.
34:37
Like I said earlier, check out caredge.com
34:39
and subscribe to the channel.
34:40
We appreciate everyone that does and tunes in with us here.
34:43
Pops, enjoy the afternoons.
34:45
I'm going to go work from a little place
34:47
where I can sit outside and yeah,
34:49
do it all again tomorrow.
34:51
Thank you, everybody, for being here today and I love you, Hanson.
34:58
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