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