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01:38
It's noon here in Venture City, New Jersey
01:41
and our nation's capital, Washington, D.C.
01:46
And this is Carage Live for Tuesday, September 2nd
01:49
with your host, me, Ray, in Venture, New Jersey
01:53
and well, Zach, recently on the New York Stock Exchange
01:57
Live program this morning in Washington, D.C.
02:01
Well, Mr. Celebrity, how are you today?
02:04
Felt pretty cool, man.
02:05
Felt really, really cool.
02:07
Yeah, loved being able to do a little press stuff
02:09
every once in a while.
02:10
So thanks to our community
02:12
for helping us gain the notoriety.
02:14
Dad, today's show is brought to you by caredge.com.
02:18
Great company I hear.
02:19
What a great, what a phenomenal, I'm sorry, go ahead.
02:23
Labor less, save more shop like a pro this Labor Day.
02:25
We saw over 20% off promotion running folks,
02:28
insights and our car buying services.
02:30
Take advantage of that back at caredge.com.
02:34
And yes, my dad mentioned it just a second ago.
02:36
I posted this over on LinkedIn.
02:38
What a cool moment this morning.
02:40
I was on this little live New York Stock Exchange
02:43
broadcast, how cool, how cool.
02:45
Thank you again to everyone who supports us.
02:47
The big story this morning pops comes by way of Mazda.
02:52
Mazda output plunges as import dependent car makers
02:55
shifts focus to big crossovers from CX-30 and the Mazda 3.
02:59
What's going on here over at Mazda pops
03:02
and let's also talk a little bit about the strategy
03:04
decision here that Mazda's making
03:06
and potentially some of the downsides it could have.
03:09
But first, output plunges, what's going on?
03:12
Well, you know, when there's tariffs
03:17
and they're expecting the tariffs to cost them
03:19
about $1.1 billion for the fiscal year,
03:24
they have to look at ways to offset or counteract
03:29
some of those tariffs.
03:30
Now, the CX-30, which I drive, well,
03:33
that's a small vehicle with a small profit margin
03:37
that's built in Mexico that has a high tariff rate.
03:41
They only build one vehicle in the United States,
03:48
The CX-70 and the CX-90 are built in Japan,
03:52
but they have much higher profit margins
03:54
so they can absorb the tariffs a little easier
04:00
So they've increased production of those,
04:04
to ship those to the United States from Japan.
04:08
And they decreased the production of the CX-30
04:14
and the CX-3 or the Mazda-3.
04:18
And so ultimately, the way I look at it,
04:22
I mean, because they're really manipulating the vehicles
04:26
they're going to produce and try and sell in this country
04:29
and the sales figures back it up,
04:32
it is getting more expensive for Americans
04:34
to find less expensive vehicles
04:38
because the manufacturers can't afford to build them,
04:43
import them and sell them in this country
04:46
at the profit margins that they have.
04:49
So ultimately, we, the American consumer gets to pay more
04:56
and in many cases have fewer choices.
05:00
It's a wonderful thing.
05:02
And this has been a multi-year push for Mazda, Dad.
05:06
Here you've got a story on automotive news.
05:08
This is from 2022, Mazda dealer's excitement
05:12
as the brand moves up market.
05:14
This is from March 10th, 2022.
05:17
Then you have another headline,
05:18
Mazda product line is pushing the brand up market.
05:21
This is from September 3rd, 2023.
05:25
You can push up market.
05:26
You can push up market.
05:27
You can push up market.
05:28
But eventually customers will stop purchasing your vehicles.
05:32
And we saw this a little bit, Dad.
05:34
Mazda is banking on a higher Mazda CX-90 sales in the US.
05:37
Okay, well what did Mazda have to do last month
05:40
that actually continues through the fourth?
05:42
They had to do a $10,000 lease cash incentive
05:44
on the Mazda CX-90 Phev.
05:46
Now you could make a case.
05:47
The reason they have to do that is because it's a Phev,
05:49
plug-in hybrid electric vehicle.
05:51
So maybe it's a powertrain issue.
05:52
But I think in a lot of ways
05:53
at a $60,000 price point, which should be clear,
05:55
the CX-90 starts at a much lower price point.
05:58
The CX-90 Phev, 60 grand is what's just gonna,
06:00
typically going to run you.
06:02
They've had to add a $10,000 incentive.
06:04
So they've been pushing up market for years now,
06:07
we're in year three or four of this push.
06:09
And eventually that's going to undercut some of their sales.
06:12
And this latest data we got from them
06:14
really does demonstrate that production
06:16
is coming back significantly, being cut back significantly.
06:19
And they have that same $10,000 lease cash,
06:22
which includes the $7,500 federal tax credit
06:29
So they're pretty much putting their eggs
06:33
at this point in time in the CX-50, CX-70, and CX-90.
06:38
Because they have a bigger profit margins
06:43
in all three of those vehicles.
06:45
We'll see what the CX-5, the new redesigned CX-5
06:50
has in store for them next year
06:52
or whenever the 2026 is coming out.
06:57
But the sales of the Mazda 3 and the CX-30
07:03
have dropped dramatically as production
07:06
has dropped dramatically.
07:09
So it is a situation where we just,
07:15
what choices we have as consumers
07:18
have grown more and more expensive
07:21
when we are still in the throes
07:24
of an affordability crisis in this country
07:27
when it comes to automotive?
07:28
Have we not watched this story already with Jeep prices?
07:32
This is data from February of 2024.
07:34
Jeep had increased their prices 61%
07:37
over those prior five years sales
07:39
than crashing 34% during that same period of time.
07:43
Haven't we seen automakers do this, Dad,
07:46
and what this may it causes for their brand?
07:48
Oh, we can continue to go up market, up market,
07:51
up market, higher profit margin vehicles.
07:53
But eventually those customers say, no more.
07:55
I don't wanna pay for a $70,000 Jeep
07:58
or in this case a $60,000 Mazda.
08:01
And you made the comment earlier
08:02
the thing that concerns you most about this.
08:04
We're just losing another economical affordable brand
08:09
Yes, I mean, you know, one of the things that
08:12
in my mind made Mazda a great opportunity vehicle
08:18
for people was the bang for the buck that you get.
08:21
It is a good quality vehicle
08:24
that is well equipped and well appointed
08:27
at a reasonably inexpensive price point in today's world.
08:33
And what we're seeing is that those price points
08:37
are going to go up or going to disappear
08:42
because there's going to be less availability
08:46
of some of those models than we had seen in the past.
08:51
And that to me, that's the unfortunate part.
08:55
You know, if you have an affordability crisis
08:59
and hopefully I think we can all agree
09:02
that we do when it comes to automotive.
09:04
Yeah, we totally do.
09:05
So if you have that affordability crisis
09:09
and brands are finding it harder and harder
09:12
to be able to produce vehicles
09:15
to be able to sell at the cheaper end of the spectrum,
09:19
it means that there's just less choices for people.
09:22
And you know, if the average car payment today
09:26
is $750 a month for a new car for 70.2 months,
09:33
that's not gonna get any better
09:35
if the less expensive cars become harder and harder to get
09:41
or just don't exist at all anymore.
09:45
Let's look at those data points, Dad.
09:47
Output at Mazda's factories in Japan fell 28% last month.
09:50
Worldwide production fell 23% to 86,551 vehicles
09:55
in July for a six consecutive month of declines.
09:58
Their exports from Japan fell 18% in July
10:02
with exports also trending lower for the sixth straight month.
10:05
Exports to North America fell 12%
10:07
while shipments to Europe declined 16%.
10:09
Overall, exports of the Mazda 3 dropped 27%.
10:13
Last month, global sales of the Mazda 3 fell 18%
10:16
in July, the fifth month of declines
10:18
while worldwide deliveries of the CX-30 fell 19%
10:21
in that last month,
10:22
working in decline for every month this year.
10:25
According to Markline's company,
10:26
a global automotive research portal.
10:28
So think about that for a second.
10:31
That option is just going to go away.
10:33
You drive a Mazda CX-30.
10:36
The reason you chose a CX-30
10:37
is because it's insanely affordable.
10:39
Your lease payment on that is what?
10:40
$374 a month for 36 months.
10:44
The average monthly payment right now
10:45
for financing a vehicle is well
10:47
in its in excess of $700 a month.
10:49
So you're at half that, you're leasing, sure,
10:51
but no matter how you slice it folks,
10:53
he's got transportation from point A to point B.
10:55
People for a long time have asked us that,
10:58
what's a reliable brand that you'd recommend?
11:00
Mazda, we would say Mazda.
11:02
And what are they showing here in this data
11:04
and most importantly with their production?
11:05
Slashing, slashing is using the production
11:07
of the Mazda 3 and Mazda CX-30.
11:10
Is they're saying, you know what?
11:10
Those vehicles don't make us money right now.
11:13
So we're going to stop producing them.
11:15
It's the same strategy we watched over at Jeep
11:17
and now Jeep's obviously reverting back
11:19
and trying to go a little bit more downmarket
11:21
because they ostracized
11:22
and pushed away so many of their customers.
11:24
It is one of the unintended consequences
11:30
of these trade policies that we have at the moment.
11:34
And it's an unfortunate consequence
11:37
but it is in reality one of the consequences.
11:41
That many of the brands or many of the models
11:45
that have been doing well in the GM lineup,
11:50
well, they're built in either South Korea or China.
11:55
And so those vehicles are impacted.
11:59
We're going to see some of those prices go up
12:02
or perhaps we'll see some of those production
12:06
and the quantities go down.
12:09
It is one of the unintended consequences
12:13
where you're going to unfortunately make it more difficult
12:18
for more people to be able to participate in the new car market.
12:22
Yeah, you absolutely will, Dad.
12:24
The other story I wanted to touch on this morning
12:26
and then we'll jump over to the chat would be from Nissan.
12:29
This is super interesting here, folks,
12:31
because it plays a role in all of this.
12:33
Not only do we have prices going up
12:35
because automakers are making a decision
12:36
to get rid of some of their more entry level options.
12:39
That's the story with Mazda.
12:41
You then have this.
12:41
Nissan turns the hybrids for sales sizzle
12:44
as EV demand fizzles.
12:46
Quite the headline from automotive news,
12:48
but we know producing electric vehicles is more expensive.
12:51
Dad, and the average transaction price for electric vehicles
12:53
is more expensive than internal combustion engine vehicles
12:56
and hybrid powertrain vehicles.
12:57
And you have Nissan here,
12:59
a manufacturer that has been struggling for a long time.
13:02
Yes. They've been on our watch list of OEMs
13:05
that may not make it into the future.
13:07
Well, Dad, they're pivoting on their strategy,
13:09
which must be expensive.
13:11
All these automakers were going down the path
13:12
of producing electric vehicles.
13:14
Well, it's not easy, I don't think,
13:15
and can't be cheap to say,
13:16
OK, you know what, scratch that EV future.
13:19
We're going back to internal combustion engines.
13:21
There's costs associated with that.
13:22
But anyway, what's going on here with Nissan?
13:25
Well, Nissan, in a valiant attempt
13:28
to save themselves from from disappearing forever,
13:34
has decided that, yes,
13:37
some type of hybrid powertrain
13:41
would be the way to get us to where we need to be.
13:44
And in order to do that,
13:47
we need to come out with 20 new vehicle
13:52
or updated vehicles in the next two to three years.
13:56
So you are going to see from a dying company,
14:00
a last ditch effort to win back some market share
14:05
by just continually bringing out
14:08
20 new models over the next two to three
14:12
model years in order to be able to compete.
14:14
And the vast majority of them will be either gas
14:19
or gas hybrid vehicles and not full battery electric vehicles.
14:24
They have determined,
14:26
and I think rightfully so, especially here in the United States,
14:30
with the EV sales flattening,
14:33
that that the direction they need to go
14:36
is more ice vehicles and ice hybrid vehicles
14:40
as opposed to just full battery electric vehicles.
14:44
We'll see if if this works,
14:50
you know, typically what does build traffic
14:54
at at the dealership level for a manufacturer
14:57
is when they come out with new models.
15:00
You know, there's typically a lot of buzz
15:03
associated around new models.
15:05
And if if they're good looking enough and compelling enough,
15:08
it usually increases foot traffic into a dealership.
15:13
And oftentimes, you know,
15:16
sales are commensurate with that where they'll go up.
15:20
We will see if that strategy
15:23
will work for Nissan moving forward.
15:26
My hope would be that it does for sure.
15:29
Because I started my career, you know,
15:32
selling Nissan's back in the in in the Flintstone era in 1977.
15:38
And and so, you know, I would hate to see them disappear.
15:41
Two things that I think are at play for Nissan.
15:43
One is obviously 20 refreshes and new models is an absolutely crazy thing
15:48
to say you're going to do over two years.
15:50
I don't think we've ever seen an automaker
15:51
try and do something quite like that.
15:53
But to your point, last ditch effort.
15:54
And I think a lease incentives and lease payments
15:57
are going to be a big thing that Nissan leans into it.
16:00
Leads me to this other story
16:02
that I think is really important to cover that leasing in July.
16:05
New lease penetration was 11.16% of all sales up 13.27% from June.
16:12
More and more consumers are choosing leases.
16:14
And so I wouldn't be surprised here if we see Nissan over the next couple of years
16:18
really lean into leasing to be an affordable payment,
16:21
something that a consumer can, you know, stomach and also obviously new model
16:26
So I think we're going to see a lot of combination of like new stuff
16:30
from Nissan and mega mega lease incentives or lease payment oriented
16:34
things to try and get people into a kicks or a rogue, things like that.
16:38
You know, leasing is a lot of people don't a don't like leasing
16:46
because well, leasing is just a fancy term for rental.
16:49
Yeah, it's a rental.
16:51
Yes, you're renting a depreciating asset.
16:56
There there was somebody much smarter than me.
16:59
John Paul Getty from the Getty Oil Company who said you buy
17:03
things that appreciate in value and you lease things that depreciate in value.
17:09
And unless it's like an Enzo Ferrari, for the most part, vehicles depreciate.
17:16
So I get why some people hate it because you end up owning nothing.
17:24
But if you subscribe to the premise that for the most part of your life,
17:30
you're always going to have a car payment.
17:34
The least expensive car payment you can have is normally found through leasing
17:41
because you're typically only paying for the depreciation.
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Granger for the ones who get it done.
18:31
That's typically dead.
18:32
You are expressly only paying for the depreciation of the term of your contract.
18:36
We have a video coming out tomorrow on the main CarEdge channel
18:39
digging into more around leasing.
18:40
That being said, I do think there's a one-two punch here from Nissan.
18:43
Dad, I think you're going to see.
18:45
Obviously, they've already made the announcement.
18:46
20 new refreshes and models.
18:49
Number two is going to be insanely aggressive lease promotions against those.
18:54
And we're already seeing that data I just flashed on the screen a moment ago.
18:57
More people choosing leasing.
18:58
One out of every 10 customers is choosing the lease of vehicle last month.
19:01
And it's simply because they're looking for more affordable monthly payment options.
19:05
Everything we do at CarEdge, by the way, helps with leasing as well.
19:08
So check out our products and services back at CarEdge as well for leasing specifically.
19:13
I am the perfect example of that.
19:16
Could I afford the average new car payment today
19:20
if I were to buy and finance a vehicle for 70.2 months
19:26
with the average new car payment being $750 a month?
19:30
Could I afford that?
19:33
Would I be willing to do that?
19:37
OK, which is why my car payment on my lease is $374 a month.
19:45
I don't want to tie up
19:48
$1,000 a month between car payment and insurance payment
19:54
to be able to get from point A to point B.
19:58
So I'm tying up, what, $500 a month to do that somewhere around there?
20:05
To me, I just think that makes more sense.
20:07
Now, will I own it at the end?
20:11
No, I won't. I have a payment.
20:15
OK, I have I have a transportation expense.
20:19
That's how I look at it.
20:21
Again, we've got the we've got the video on lease and coming out tomorrow.
20:25
We'll we'll come in here from David Pops, come in here from David.
20:28
Yes, Nissan now approves by 50 credit score at tier one.
20:32
Same as an 850 credit score.
20:34
Effective. Now, I just spoke to a dealer principal at a Nissan dealership.
20:38
That would be absolutely asinine if that's true.
20:41
Well, if that's true as someone who has an 850 credit score, I'd be pissed.
20:49
OK, I I mean, what's the point of of handling your credit?
20:54
Well, to to to end up with a high credit score when somebody
20:59
whose credit score is typically considered subprime would be considered
21:06
the same as someone whose whose credit rating is exceptional.
21:12
Yeah, I it's crazy.
21:15
But apparently that's the only place they can find their their customers.
21:20
And so they're they're playing to their audience
21:23
that they think is going to help get them back into the game.
21:28
But it's man, I someone with a I'm pissed.
21:33
I would be pissed. OK.
21:36
But take yourself out of it for a second.
21:38
What does it mean more broadly?
21:39
It means I actually think I hate to say it.
21:42
I think what I was describing is true.
21:43
We're coming out with the new models.
21:45
We're coming out with lease incentives.
21:47
Number two, I guess number three is and we'll just approve
21:49
everyone for those lease incentives to move the metal.
21:52
You know, I mean, I can see the TV ads now come into Nissan.
21:57
Fog a mirror, sign up, you're going home in your new car.
22:01
Three hundred dollars a month.
22:02
Yeah, good credit, bad credit.
22:04
We don't care. You're riding, you're driving.
22:08
You need help getting that insurance.
22:10
We can help you with that, too.
22:12
I mean, it's just it's just absolutely insane.
22:17
You know, if human beings have such short memories,
22:22
I believe it was in 2006, 2007, 2008
22:27
that that we had a mortgage crisis in this country
22:30
because anybody could qualify for a mortgage
22:34
if you walked in, filled out a credit application
22:37
and they put a mirror under your nose and you fogged that mirror.
22:42
They didn't care what your credit looked like.
22:44
You were going to be approved for that mortgage,
22:47
whether you could afford it or not.
22:50
Then we had, I don't know, this huge real estate collapse
22:54
and mortgage collapse.
22:56
The same thing will happen to Nissan.
22:59
You can't hang your hat on people who aren't going to pay back the money
23:05
when they're supposed to, or if at all,
23:08
just because you need to move the product.
23:11
If you want to move product, just give the crap away.
23:15
You know, just tell people, come in, we'll give it to you.
23:17
Just, you know, just sign a form that says
23:20
you're going to do your best to try and take care of it
23:22
and you promise to maintain it and we'll just let you drive it.
23:26
And that way we can report it as sold.
23:28
It is pure insanity.
23:31
Dad, one more story really quick and then to the chat.
23:34
High cost short circuit Nissan's US EV plan.
23:37
This was the data point I was looking for a moment ago.
23:40
There was a $500 million investment to turn a Mississippi factory
23:44
into a center for EV manufacturing and technology.
23:47
And it's in jeopardy.
23:48
So this is, you know, an example of half a billion dollars
23:51
had been planned to be invested to go towards EVs.
23:54
And now, obviously, the pullback is happening.
23:56
Nissan and motors at all the manufacturers forward.
24:00
They've changed course and it's not cheap to change course.
24:03
No, they can use that $500 million to underwrite those bad leases
24:07
they're going to make for for people with five 50 credit scores.
24:10
Right, we shall see.
24:11
Dad, Anthony on the chat been giving us all sorts of messages here.
24:15
So let's answer some of these.
24:16
OK, you guys comment on Hertz and Amazon auto.
24:19
How do you think they'll disrupt the used car market?
24:21
How will it affect CarMax and Carvana?
24:23
So Hertz and Amazon autos announced the partnership last week, I think
24:27
that Hertz is now selling their vehicles through Amazon autos
24:30
and expansion of Amazon autos.
24:32
I don't really think I mean, I don't really understand what Amazon autos
24:35
does. You're still just buying a car from a dealer.
24:37
So I don't know you're still just buying the car from Hertz.
24:39
It's not like you're buying the car from Amazon.
24:43
They're just going to act as a coordinator to to to marry you
24:49
with the Hertz location where that vehicle is at.
24:54
Do I think that's going to negatively impact CarMax or Carvana?
25:00
No, not really. I I don't.
25:03
I mean, you know, they haven't had Amazon hasn't had all that much
25:07
success with their partnership with Hyundai to sell cars.
25:11
So why do I think that suddenly they're going to find success
25:15
with Hertz selling, I don't know, 75,000 mile used rental cars?
25:24
Hey, rental rats available through Amazon.
25:27
Hurry, come in. Let's go.
25:29
Yeah, I think I think it's relatively a nothing burger for the time being.
25:34
Here we go. Another one from Anthony.
25:35
This is the Anthony section of the show.
25:38
What car make model would you guys suggest to those who are looking
25:40
for a solid, reliable commuter point A to point B vehicle to look at?
25:44
Who has the best deals, discounts, incentives, Mazda, Jeep, Hyundai?
25:48
This would be a typical we'd go Mazda.
25:50
And I'd even still say with the CX 30, the Mazda is a great option.
25:53
I'm sticking for the time being Mazda CX 30
25:56
as a reliable point A to point B vehicle to be looking at.
26:01
Yeah, Jeep, I don't know what Jeep is going to fit into that
26:05
under the reliable portion of it.
26:08
And Hyundai, as long as it's under warranty,
26:12
you know, I think I would almost put Hyundai with their
26:17
with so many engine issues that they've had in the past.
26:20
I would almost only consider a Hyundai if it were a lease.
26:25
And so that make sure that it's under warranty the whole time that you have it.
26:30
And if anything goes wrong, Hyundai will take care of it.
26:34
But beyond their warranty period and, you know, the 10 year,
26:38
100,000 mile powertrain warranty of it, that's only for the first owner.
26:43
OK, otherwise it's 550.
26:48
I still think Hyundai has a lot to prove as far as engine quality
26:53
and things of that nature.
26:55
But they have caught the fancy of the American buying public
26:59
and their sales continue to to rise month after month.
27:05
I'm with you, though, there, though, I'm wanting one under manufacturer warranty.
27:10
That would be ideal for me.
27:11
OK, we're going to switch gears just for a second here, because we have to do it.
27:16
We're up to 109 recalls from Ford, Dad.
27:20
There were more new recalls that just came out recently.
27:24
Last week when we did this, it was 106.
27:27
Yep, we're up to 109.
27:28
I'll zoom in 109 Ford Motor Company.
27:32
This just keeps getting worse.
27:35
We don't have to spend too much time on it.
27:36
I just thought I would acknowledge that, like, it just it's damning.
27:41
I mean, it's just bad. It's just really bad.
27:43
I think their new slogan is a recall day will keep the profits away.
27:50
I mean, every day we come in here and we look, they're averaging
27:53
pretty much a recall a day.
27:55
I mean, well, how many?
27:57
No, business day, we recall per business.
27:59
How many perhaps? Yeah, I mean, it is.
28:02
It's just it's pure insanity on Ford's part.
28:07
And I've said this in the past and I'll say it again, in my opinion,
28:12
it is it is malfeasance on the part of the board
28:16
to 166, 166 business days so far this year.
28:21
Dad, they're at 109 recalls.
28:23
Yeah, then they got a little work to do if they want to do a recall a day
28:27
will keep the profit away, but they're they're trying.
28:30
That's crazy. That's crazy.
28:32
Yes, yes. And it's certainly.
28:36
I know they they like to say, well, we're being proactive
28:39
when we're taking care of our customers.
28:41
Well, if you really wanted to be proactive, build a better car.
28:44
And then, you know, you take care of your customers that way
28:47
so they wouldn't be spending time in their local dealership service departments.
28:51
But that's what I know.
28:54
Folks, friendly reminder, we've got 20 percent off.
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29:18
Dad, yeah, he wants to know did I enjoy Kentucky?
29:22
This segment of the show will be called scaring my dad on YouTube.
29:26
Sound good? Not really.
29:30
I had an absolute blast in Kentucky.
29:33
Red River Gorge is beautiful, Dad.
29:36
Yes, it's a really, really, really good time.
29:39
Yes, I can hear I got to figure out how to share this screen one moment.
29:43
Do that, do this, do this, share screen.
29:49
You ready? Yeah, yeah.
29:51
Oh, this is interesting. There we go. OK.
29:54
All right, here we go.
29:55
Let me pull this up.
29:58
So, Dad, this is a video of me falling. Excuse me.
30:03
Oh, you can't see it.
30:06
Thank God. One second.
30:10
Can you see it now? No.
30:13
Hmm. Can you see anything? No.
30:19
What a bummer. You might be you might be saved.
30:25
I still think you should take me up on my idea of that you should concentrate
30:29
on golf and tennis, golf and tennis are fun, but I don't know.
30:34
Oh, now it's so interesting.
30:37
It flashes up for a second, but then it doesn't stay.
30:39
OK, I'm going to try one more time.
30:40
Yeah. Can you see it, Dad?
30:42
Went away. It disappeared.
30:44
OK, guess you're not going to be able to watch it.
30:46
There you go. Thank God for that.
30:49
You fell? I fell so many times.
30:52
Yeah. How high was the wall you climbed?
30:57
The highest one I went up was
31:00
hmm, probably like a hundred feet, 105 feet.
31:05
Yeah. I'm going to try one more time, Dad.
31:07
Give me one second. Really?
31:09
Yeah, I think it's important for you to appreciate, fully appreciate what I got into.
31:14
OK, one more time. Share screen.
31:18
OK, let's try again. OK, we're trying again.
31:22
Ladies and gentlemen, there's Zach.
31:28
Hey, it's working this time. Ready?
31:29
Not really. There we go.
31:33
Whoa, whoa, whoa, whoa, whoa.
31:36
What is that nonsense?
31:38
Why? What is so exciting about that?
31:42
So I actually did something bad there.
31:43
I like grabbed the anchors because I got scared.
31:45
But yeah, pretty good fall.
31:50
Yeah. And I can see you're just wearing so much protection.
31:55
Don't aren't those rocks look sharp?
31:59
One more for you, Pop.
32:00
So I was climbing, doing a good job, right?
32:02
Yeah. Climbing, climbing.
32:05
Yeah. He's climbing.
32:10
Yeah, you're climbing.
32:11
Yeah. Oh, and now you're not climbing.
32:15
No, that looks like so much fun.
32:18
How many people at the bottom have to hold the rope so that
32:22
they don't go flying up in the air as you're falling down?
32:25
That's one. It's pretty cool.
32:27
Yeah. We're saying weight is you more heavier than you.
32:31
Yeah, if the person's lighter than you, they can get pulled up decent amount.
32:34
I actually, so we didn't get on video and I'm kind of glad
32:36
because I think you would you would lose it.
32:38
But there was there's this climb called air ride equipped
32:42
and I was at the anchors and yeah, I fell about 35 feet.
32:46
Excuse me. It was a big fall, man.
32:48
It was scary. It was very scary.
32:50
And now I'm like my palms are sweating just rewatching it.
32:52
But during the moment, just concentrated, you know, it's really fun.
32:56
Red River Gorge is awesome.
32:57
Miguel's super cool. It was a really fun experience.
33:00
Oh, really? Tennis, golf.
33:03
We're playing a level.
33:04
Slowing, you know, how many people like accidentally get hit
33:08
by a flying bowling ball? Not very many.
33:12
Yeah, you know, and if you fall, I mean, what, you're going to drop
33:16
what, two, three feet? That's 35.
33:20
I'll try bowling, dad.
33:21
I like tennis, but it's it's really, really, really fun.
33:25
There's like a grading system.
33:26
Dad, my goal this year is to do an 11a outside
33:28
and I got up and 11a there. I'm really, really, really proud.
33:31
OK, so now that you did that, you can quit.
33:34
We'll find something else.
33:36
Raise the bar, man.
33:37
No, no, we don't need you to raise the bar, you know,
33:39
because at a certain point you raise the bar too far.
33:43
OK. And things don't work out the way.
33:46
Yeah, pickleball and things don't work out
33:48
quite the way you hope they would.
33:50
So, you know, just find something.
33:52
You've got a company to run mid-air.
33:54
I could do mid-air.
33:55
You could, but, you know, you'd probably fall on the crochet needle
33:58
or something that hurts yourself.
34:00
So, thank you, Rich, for the kind contribution.
34:03
Wait a while before you free climb out, Cap.
34:05
I'm not free climbing anything, Rich.
34:07
Don't worry. That's craziness.
34:09
Yeah, yeah. I mean, we saw what happened when you don't
34:11
free climb and you only fell 35 feet.
34:14
Competitive napping.
34:15
I like that one. You know, that one I could win.
34:19
You're at first place.
34:20
Salsa, I do like salsa dancing.
34:22
There's so many different things that you could do.
34:25
And, you know, would we get a kick at a watching video
34:30
as you view salsa dance?
34:32
I'm not sure if it'd be a very soulful dance,
34:34
and don't worry about that.
34:35
I think so, but, you know, I don't get a kick
34:37
at a watching you climb rocks like that.
34:42
Well, maybe we'll get you outside one time for a trip.
34:44
It's really beautiful.
34:46
All right, folks, we're back with more Car Edge Live
34:50
Please tune in and join us.
34:51
Then, Pops, enjoy the afternoon.
34:52
Thanks for indulging me.
34:54
And yeah, love you.
34:56
Well, you know, I think very highly of you as well.
34:59
And congratulations, once again, on being part
35:02
of the New York Stock Exchange Live program this morning.
35:07
Make it a goal to give on more shows like that
35:10
as opposed to climbing them damn rocks.
35:14
We'll see you back here tomorrow, folks.
35:16
Thank you, everybody.
35:17
Love you too, handsome.
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