Transcript: Nightly Business Report – July 21, 2017

ANNOUNCER: This is NIGHTLY BUSINESS REPORT with Tyler Mathisen and Sue
Herera.

TYLER MATHISEN, NIGHTLY BUSINESS REPORT ANCHOR: GE`s profit slump, so does
its stock price and fixing the company now rests on the shoulders of the
incoming CEO.

SUE HERERA, NIGHTLY BUSINESS REPORT ANCHOR: Feeling the heat. It`s
summer. The mosquitoes are out and now, a Silicon Valley firm is launching
an experiment to cut the numbers of them and reduce disease.

MATHISEN: Cooking up success. How a few hard working entrepreneurs became
food truck millionaires.

Those stories and more tonight on NIGHTLY BUSINESS REPORT for Friday, July
21st.

HERERA: Good evening, everyone, and welcome.

An uphill battle for General Electric (NYSE:GE). Its challenges were
magnified today when the company reported nearly a 60 percent drop in
profit. Its earnings forecast for the year, disappointing. Revenue in the
most current quarter also fell.

The problems are well-known. Its energy business continues to reel from
low oil prices. Its transformation back to a pure industrial company yet
to take hold.

Investors were not pleased with CEO Jeff Immelt`s final earnings report.
The stock which you likely own in a mutual fund, an ETF or a retirement
account was off nearly 3 percent.

So, how deep did do the problems at GE run? Well, just take look at this.
General Electric (NYSE:GE) the worst performing Dow stock since Mr. Immelt
took over in 2001, off 36 percent.

Turning things around will be up to the incoming CEO, but he didn`t offer
any details of his plan during his guest appearance on today`s earnings
conference call.

Dominic Chu has more.

(BEGIN VIDEOTAPE)

DOMINIC CHU, NIGHTLY BUSINESS REPORT CORRESPONDENT: If there`s one word
that could be used to describe the story of General Electric (NYSE:GE)
these days, that would be transition. And in some ways, it`s that
transition that helped drive GE shares to multiyear lows in trading today.
While GE did reiterate its current year guidance, it declined to go into
what it thinks about next year. Incoming CEO John Flannery spoke on the
company`s earnings conference call about why.

JOHN FLANNERY, INCOMING CEO, GENERAL ELECTRIC: As you know, my official
start date is August 1st and was indicted earlier that I`d be doing a full
review of the company and be back to investors in the fall with my views.
We`re on track with this process. I`m in a middle of a serious of deep
dives into each of the businesses, looking at everything you would expect.
What is the market outlook, where can we grow, where can we improve
margins? How is the cash conversion? What returns are we getting on
investment?

CHU: The transition to CEO John Flannery from current CEO Jeff Immelt
means the next few months will be spent taking stock and evaluating each of
GE`s businesses to set an appropriate outlook. General Electric (NYSE:GE)
stock has been a notable laggard in the market and has yet to recover its
record highs dating back to the dotcom boom of the late 1990s and early
2000s. Over the past decade, GE has made bigger bets on oil and gas, as
well as power generation systems, bets that haven`t paid off and remain a
drag on the company`s revenues. But experts still think clarity about
future plans is key for GE.

ANDREW KAPLOWITZ, CITI GE ANALYST: People want to hear something about the
2018 outlook and there really wasn`t much about 2018. I think Jeff Immelt
and Jeff Bornstein kind of talked down the numbers here in 2017 a little
bit towards the low end of $1.60 to $1.70 range. You know, I don`t think
people necessarily like that.

But I think we knew coming in that power and oil and gas are going to be a
bit weak. So, nothing`s really surprising there. I think the biggest
issue is that they kind of left us a bit in limbo without, you know,
waiting for this November analyst day.

CHU: Incoming CEO John Flannery will have the daunting task of trying to
turn around one of the most storied and complex businesses in the world.
But investors may have to wait until at least November before any
turnaround plans become evident.

For NIGHTLY BUSINESS REPORT, I`m Dominic Chu.

(END VIDEOTAPE)

MATHISEN: So, why is GE struggling and how could it get its mojo back in
business and in the market?

Kevin Quigg is chief strategist with ACSI Funds, joins us now to discuss.

What GE in your view, Kevin?

KEVIN QUIGG, ACSI FUNDS CHIEF STRATEGIST: GE is a company in transition.
I think you just talked about it. Really, their challenges are twofold.
Number one, they`re a company that`s going back to basics, back to their
core, and that obviously provides a real challenge in deciphering their
numbers. The other challenge they have frankly is their direction.

So, the change of CEO on top of the change of corporate headquarters on top
of all the other changes they have going on is creating a lot of
uncertainty in stock —

(CROSSTALK)

MATHISEN: They`ve sold some of their core. They`ve gotten rid of the
appliances. The light bulbs and so forth and they`re focused, I guess, on
infrastructure, energy, medical devices, locomotives, jet engines.

QUIGG: That`s right. So, they`re going back to those businesses and the
really the effect you`re seeing is the cash flow in the earnings today was
affected by the lack of appliance revenue. Some of those businesses have
injected volatility into the GE model and it`s going to change the way you
have to look at the stock moving forward.

HERERA: Kevin, you know, basically, the stock has been dead money for 10
years or more. Why hold GE? They`ve been trying to transition since 2001.
Since Mr. Immelt took the helm and they haven`t been able to execute quite
as effectively as the market certainly thinks they should have, and they`ve
had an activist investor as well, which usually moves the stock. It hasn`t
moved GE.

QUIGG: It hasn`t moved GE because I think they haven`t clearly stated
effectively what their plan is for the future. So, I do agree that the
pressure they`re getting from Trian, some of the other pressure they`re
getting on the street is affecting their decisions day to day. And really,
the way they could clear the deck is to state which businesses they want to
invest in, state how they`re going to invest in. And most importantly, as
investor, what should I be looking at in terms of progress? What areas of
those earnings are important?

MATHISEN: Do you own it in your funds right now? And would you add to it
if you did?

QUIGG: We do own GE on our funds, and right now, we would consider it a
hold because again, our guidance internally has been it`s not moving down
or up. It`s kind just treading water until the new CEO takes place, until
the new plan takes place.

And at this point, from an investment standpoint, you`re right. You`ve
waited 10 years to take action on GE. At this point, you know, the light
is at the end of the tunnel and Flannery is going to be a successor, he`s
not. I want to give him an opportunity to see what the plan looks like, to
see what the stock is going to do.

HERERA: Well, he was in one of the most successful arms of GE. And it has
been able to execute in that division. I guess the question is, can he
take what he was able to achieve — I believe it was in health care — into
the other aspects of this industrial company?

QUIGG: Well, I think he has and the real challenge for him, frankly, and
he did do well in the health care part of the organization, but how clear
are the decks going to be when he gets there. So, they`ve reduced about
$650 million off their industrial expenses. The goal was a billion. Is he
going to have free, you know, choice to make decisions or is he going to
have to continue some of the things that are taking place under Immelt
moving forward?

MATHISEN: Kevin, thanks very much. Kevin Quigg with ACSI Funds.

QUIGG: Thank you for your time.

HERERA: And on Wall Street, General Electric (NYSE:GE) was a drag on the
Dow and the Nasdaq snapped its 10-day win streak. The blue chip Dow index
fell 31 points to 21,580, the Nasdaq was off two and the S&P 500 was lower
by a fraction. Their performance was mixed for the week, which saw all of
the major averages hit new highs. As for oil prices, they fell today after
a report came out and it doubted OPEC`s commitment to its production cuts.

MATHISEN: Oil prices and energy costs are a key component of the economy,
an economy that hasn`t been growing as fast as many, including many
investors, would like. But a few economists say there is a way to increase
growth and maybe even get it above that elusive 3 percent rate.

Steve Liesman takes a look.

(BEGIN VIDEOTAPE)

STEVE LIESMAN, NIGHTLY BUSINESS REPORT CORRESPONDENT: A quartet of leading
conservative economists are arguing in a new paper that the U.S. isn`t
stuck forever with sub 2 percent growth. They say 3 percent is realistic
if the right policies are pursued. John Hogan joined with John Taylor and
Kevin Warsh and Glenn Hubbard to say that attaining 3 percent annual GDP
growth rate is based upon enactment and implementation of a package
containing significant tax reform, regulatory reform, budgetary reform and
monetary reform.

Taylor, Warsh and Hubbard are believed to be under consideration by the
Trump administration for positions at the Federal Reserve.

GLENN HUBBARD, COLUMBIA BUSINESS SCHOOL: The thing that this business
cycle was different in was the collapse in capital spending. That`s been
the biggest explanation of the decline in productivity. Better tax policy
can help to turn that around. Tax policy can also help with hours worked.
But we`ve got to actually do it. We can`t just talk about it.

LIESMAN: Productivity growth or how efficient the economy is and growth in
hours worked for growth in the labor force are the lynchpins of overall
economic growth. If you work more and work more efficiently, you grow
more. The paper argues that the wrong economic policy of the Obama
administration are the chief culprits in the U.S. slow down.

The Congressional Budget Office and many economists think that economic
growth is capped below 2 percent. Liberal economists blamed more of
shrinking workforce on baby boomer retirement, and they`re skeptical
government policy can boost productivity by a full percentage point as
claimed by the authors of the paper.

JARED BERNSTEIN, CENTER ON BUDGET AND POLICY PRIORITIES: There are lots of
credible studies that show cuts in marginal tax rate will boost
productivity growth, will boost investment a tiny little bit.

LIESMAN: Putting in place policies that lead to better growth, that`s one
thing. The dangers of the Trump administration and Congress budget and
spend for those higher growth numbers and then they don`t appear. Deficits
could surge and that can reduce the impact of the pro growth policies.
Even the authors of the paper agree with that.

For NIGHTLY BUSINESS REPORT, I`m Steve Liesman.

(END VIDEOTAPE)

HERERA: On Wall Street, next week is a big one for earnings. Thirteen Dow
components and about one-third of the S&P 500 release their quarterly
results. There`s one school of thought that earnings could drive the stock
market rally.

Bob Pisani tells us why next week is a big one for investors.

(BEGIN VIDEOTAPE)

BOB PISANI, NIGHTLY BUSINESS REPORT CORRESPONDENT: Earnings season is
heating up and things really get off to the races next week. We`re about
to enter the busy stretch for earnings of roughly 180 S&P 500 companies and
more than a dozen Dow components reporting quarterly results. That
includes a number of big oil companies like Chevron (NYSE:CVX) and
ExxonMobil (NYSE:XOM), industrial names like Caterpillar (NYSE:CAT),
consumer goods giants like Procter & Gamble (NYSE:PG) and tech titans like
Facebook (NASDAQ:FB) and Amazon (NASDAQ:AMZN). And that`s just the tip of
the iceberg.

Next week will be b crucial to watch because so far, analysts have high
hopes for the season. Second quarter earnings are expected to jump almost
10 percent from last quarter. That`s up from 8 percent at the start of
earnings season from the second quarter. And revenues are also picking up.
That`s why the stock market`s up.

More companies have been beating on earnings and they have been beating by
more than usual, but the growth has been confined to few key sectors. So,
other than energy, technology is supposed to be the single biggest
contributor to earnings growth this season, and tech stocks have been the
biggest winners so far this year. Tech earnings are expected to be up 16
percent.

Keep an eye on energy. Earnings in energy stocks are way above historic
values because everyone has gotten the price of oil wrong this year. They
jacked up estimates because they assumed oil would be $60 now, but stuck in
the mid-40 range and those earnings estimates have already been coming
down. That`s why energy stocks have been down this year.

For NIGHTLY BUSINESS REPORT, I`m Bob Pisani at the New York Stock Exchange.

(END VIDEOTAPE)

MATHISEN: A shakeup at the White House today. The veteran Wall Streeter
Anthony Scaramucci is the administration`s new communications director.
He`s the founder of the investment firm SkyBridge Capital, a firm he has
since sold. He`s expected to begin his new job in August.

Leaving the White House meantime in August is Press Secretary Sean Spicer,
who resigned today and who reportedly disagreed with the appointment of Mr.
Scaramucci.

HERERA: Still ahead, the economy is changing quickly and our market
monitor has a few ideas of how you can invest in the future.

(MUSIC)

HERERA: The government has decided to drop criminal charges against former
J.P. Morgan traders in the London Whale case. According to a court filing,
efforts to extradite the defendants have been unsuccessful. Officials also
say they can no longer rely on the testimony of one of the former traders.
The traders as you may recall, made some risky bets on complex financial
instruments which resulted in losses of more than $6 billion for the bank.

MATHISEN: Step outside in the evening these days, and you probably have to
shoo away a lot of mosquitoes. The insects seem to be everywhere this year
and some, of course, carry disease. After all, it was just a year ago,
there was rising concern about the bug born Zika virus. Now, there are
some new experiments on the way to limit the mosquito population, including
one being done by a big technology company.

Meg Tirrell reports tonight from the Florida Keys.

(BEGIN VIDEOTAPE)

MEG TIRRELL, NIGHTLY BUSINESS REPORT CORRESPONDENT: Here on this block in
Key West, Florida, scientists are working on a new method of controlling
the world`s deadliest animal, the mosquito.

(voice-over): It accounts for more human deaths than any other animal on
the planet, most due to malaria.

Here in the U.S., we have a mosquito that carries Zika, dengue finger, and
other diseases, the Aedes Aegypti.

DR. ANTHONY FAUCI, NATIONAL INSTITUTE OF ALLERGY AND INFECTIOUS DISEASES:
The history of mankind tells you mosquitoes are bad news.

TIRRELL: Scientists are now trying to suppress numbers of those mosquitoes
by releasing more mosquitoes. It sounds counterintuitive, but these bugs
carry a secret weapon, a bacteria called Wolbachia. When these male
mosquitoes with Wolbachia mate with wild females, the offspring don`t
hatch.

In its trial, Key West is releasing 75,000 male Wolbachia mosquitoes every
week.

LINDA O`CONNOR, MOSQUITOMATE: Because males do not bite, they`re harmless
to people, and so they can`t spread diseases.

TIRRELL (on camera): These are not going to bite us.

O`CONNOR: These are not going to bite you.

TIRRELL: OK.

(voice-over): Three thousand miles away in Fresno, California, a similar
experiment is taking place on a larger scale. Tech giant Google
(NASDAQ:GOOG), through its health subsidiary, Verily is conducting a trial
it calls debug Fresno. And no, this isn`t software. Google`s working on
actual bugs, releasing a million male Wolbachia-carrying mosquitoes each
week.

LINUS UPSON, VERILY: We`ve developed automation that can automatically ear
mosquitoes, separate the males from the females and then release them in
the field. And so, we`ve lowered the cost of being able to do this
tremendously.

TIRRELL: Many may ask, given the toll they take on humanity, why not just
kill all the mosquitoes?

KEVIN ESVELT, MIT: With the gene drive system, we could simply spread
infertility.

TIRRELL: Kevin Esvelt studies evolution at MIT, a technology calls the
gene drive he says could be used to force inheritance of genes that cause
sterility, wiping out a population. But he warns that technology is
considered too powerful to be taken lightly.

ESVELT: Spread them definitely. There are only a handful of problems
where that are so severe, that it might be worth using this kind of gene
drive.

TIRRELL: Malaria, he says, may be one of them.

(on camera): But for now, tests here in the U.S. are starting smaller.
Just this one mosquito, and a technology that doesn`t spread indefinitely.

For NIGHTLY BUSINESS REPORT, I`m Meg Tirrell in the Florida Keys.

(END VIDEOTAPE)

HERERA: Honeywell raises its outlook for the year and that`s where we
begin tonight`s “Market Focus”.

The aerospace and defense giant raised its earnings and revenue guidance
for 2017 after it reported profit and sales that grew and topped estimates.
The company said the strength in the latest quarter came from its
performance materials and technologies businesses. Shares rose 1 percent
to $136.35.

Schlumberger (NYSE:SLB) said it plans to take a controlling stake in
Russia`s Eurasia drilling. The oil services giant attempted to acquire a
45 percent stake in the Russian company back in 2015 for nearly $2 billion,
but that deal fell apart. Schlumberger (NYSE:SLB) also posted quarterly
results that were better than expect. Shares of Schlumberger (NYSE:SLB)
fell a fraction to $66.53.

Sales slipped at Colgate-Palmolive (NYSE:CL), missing analysts`
expectations. Earnings were in line with estimate and the consumer
products company said it expects revenue for this year to rise in the low
single digits due to uncertainty in global market, but the shares managed
to gain more than 1 percent, ending the day at $73.27.

MATHISEN: Despite facing higher costs, credit company Moody`s (NYSE:MCO)
saw both profit and revenue edge higher. The results were stronger than
expected. The firm also raised its full year sales and profit outlook.
Shares jumped 4 percent to $132.57.

The Swedish auto safety equipment maker Autoliv (NYSE:ALV-Z) (NYSE:ALV)
said lower than expected vehicle production in China and North America
would cause organic sales growth to slow this year. For the latest
quarter, the company reported earnings and revenue that came in shy of
estimates and shares fell today nearly 8 percent to $106.78.

The pet medication distributor, PetIQ, went public on Nasdaq today. The
company priced more than 6 million shares at $16 a piece.

The CEO said going public is the right move.

(BEGIN VIDEO CLIP)

CORD CHRISTENSEN, PETIQ CEO: We`ve got a lot of growth strategies. The
company has put out there that are important. There`s a very large number
of consumers that are unaware that they need to provide the kind of pet
health care that`s available. So, being (ph) in position of more capital
just makes us be available and in a market that we can do what`s required
to expand that.

So, it`s a time for us to really implement our grow strategies, bring
consumers in, hopefully help those pet parents.

(END VIDEO CLIP)

MATHISEN: A good day for PetIQ. Shares up 45 percent to $23.32.

HERERA: Our market monitor has some names of growth stocks he says that
are all about the future. The last time he was on in January, he
recommended Blackstone, which is up 14 percent. Global X Master Limited
Partnership, that`s down 5 percent. And Microsoft (NASDAQ:MSFT), which is
18 percent higher.

Joining us tonight is Ron Weiner. He`s a partner at RDM Financial Group at
Hightower.

Ron, welcome back. Nice to have you here.

RON WEINER, RDM FINANCIAL GROUP PARTNER: Hi, sue. How are you?

HERERA: I`m good, thank you. You say the future is in technology,
utilization of the Internet and by biotechnology in health care. So, your
first pick is the Spider S&P Biotech ETF, XBI.

WEINER: Right. There`s about 90 companies. They`re equally weighted.
They`re small, mid and large companies. A lot of investors that go in this
space by the IBB, which are large companies, but we see the action in the
small and mid companies.

We just saw a big cystic fibrosis discovery, XBI moved up on that. It was
a holding. There`s a lot of future in biotech and it`s going to be the
future and that`s where we want to go. We want to go to the future.

They dropped significantly last year, so there was an opportunity starting
around January to get in here. It`s got a long way to go.

MATHISEN: All right. Let`s move the to your second pick, which is Google
(NASDAQ:GOOG). Tell me about why you like that one.

WEINER: Well, we just heard from Meg about Verily. Google`s in a lot of
businesses. You think about it, Android, YouTube. YouTube downloads 300
hours of video per hour. They are the future. They`re into artificial
intelligence, machine learning, they`re smart management.

If we`ve got to look to the future, Google`s part of that future. So, it`s
a good business to buy.

HERERA: And your third pick is Baba, Alibaba. And you say Alibaba is
Amazon (NASDAQ:AMZN) on steroids. Tell me. Tell me why.

WEINER: Yes. Full disclosure, we were down for a whole year owning that
stock. Now, it`s up — I came out with it on market monitor`s year ago.
It`s up 89 percent. Still, I brought it back because it`s got a long way
to go. They`re 57 percent of the B2B in China. They`re the Amazon
(NASDAQ:AMZN) of China. They`re now got into Ali Cloud. They`re
multinational now. They`re just growing like a weed.

The consumption in China is going to go from 42 trillion to 65 trillion in
five years. That`s 1.3 times the entire size of Germany. So, there`s so
much growth. It`s almost scary.

MATHISEN: We like that you come back to one that you mentioned a year ago
and as you did with Google (NASDAQ:GOOG), they`ve both done well and you
come back to them. I think that really shows your commitment.

Talk to us a little bit about this Global Master X Limited Partnership,
which is the only one of the ones that`s down a little, though you point
out that it`s outperformed the energy sector. And has a nice yield of 7
percent. You still like it?

WEINER: Sure. Oh, yes. We still own it. We did trim a little because of
opportunities and other things, but the yields a little over 7 percent and
it`s tax advantaged.

But the key is that they`re pipelines. They`re storage. They`re
processing. It`s not oil. It gets lumped with oil — I think oil was down
17 percent in the same time period as we were down four, but half of our
investors are retired.

So, we search for yields other than bonds, which we think are not going to
yield a lot. Not go — interest rates are probably going up. So, it is a
solid company. All the export — and the U.S. is going to be a major
exporter of oil and natural gas. And we got to get pipes to the Gulf
Coast. We got to get pipes, you know, to the Northeast.

It`s a great business. It just gets caught in oil, but it`s not oil. It`s
a great growing business.

HERERA: All right. On that note, Ron, thank you so much. Have a great
weekend.

WEINER: All right. Thank you. You too.

HERERA: Ron is with RDM Financial Group at Hightower.

MATHISEN: And coming up, rolling along and making millions in the process.

(MUSIC)

HERERA: The Federal Trade Commission is reportedly looking into whether
Amazon`s discounts are as good as they seem. As first reported by
“Reuters”, a consumer watchdog group said the online retailer routinely
uses inflated and fictitious previous prices to mislead consumers. The FTC
had no comment, but Amazon (NASDAQ:AMZN) refuted the group`s pricing
report, calling it deeply flawed.

MATHISEN: Ford is fighting an immediate recall of Takata air bag
inflators. Earlier this month, Takata added more than 2.5 million vehicles
to a recall that already affects more than 40 million cars. These
inflators were once thought to be safe, but the government says they pose a
safety risk if not replaced. Ford says there`s no data suggesting that a
recall is needed.

HERERA: Lyft is now building its own self-driving car technology. The
ride hailing company believes that by 2021, the majority of its rides will
be in autonomous vehicles. Today`s announcement marks a shift in that
company`s strategy. In the past, it had been content to partner with
automakers and tech firms. Now, it`s developing its own software.

MATHISEN: Well, from self-driving cars to food trucks, there are a growing
number of them. You probably see `em. For entrepreneurs who love to cook,
the meals on wheels route is a lot less expensive than opening up a
traditional restaurant, and food trucks are turning out to be very
lucrative for the best operators.

Kate Rogers (NYSE:ROG) has our story.

(BEGIN VIDEOTAPE)

KATE ROGERS, NIGHTLY BUSINESS REPORT CORRESPONDENT (voice-over): When Ben
Van Leeuween and his partners started making their artisan ice cream in
Green Point, Brooklyn, back in 2008, they had no idea what a hit it would
become.

BEN VAN LEEUWEEN, CEO, VAN LEEUWEN ICE CREAM: There you go.

ROGERS: With just $50,000, Van Leeuween ice cream hit the streets of New
York City looking for the perfect location.

VAN LEEUWEN: We drove of corner of Green and Friends, and by the time we
had opened the window, there was a line of 30 people.

This is a peanut butter chip.

ROGERS: And the crowds kept coming. Today, the company has six food
trucks and nine store fronts in both New York and Los Angeles. Their ice
cream features unique flavors like honeycomb and vegan mint chocolate chip
even retails in Whole Foods in the Northeast and California.

And the business is on track to do $20 million in revenue next year.

(on camera): Food trucks like Van Leeuween have been growing at a faster
rate than traditional restaurants over the past decades. But that growth
is expected to slow in the years to come due to regulatory hurdles.

VAN LEEUWEEN: It`s very challenging to make them work financially in New
York City. In other markets, it`s much better. In Los Angeles, it`s very
truck friendly.

ROGERS (voice-over): In Austin, Texas, former attorney Eric Silverstein
launched his food truck the Peached Tortilla back in 2010 after he couldn`t
raise the capital he needed for a brick and mortar restaurant.

ERIC SILVERSTEIN, THE PEACHED TORTILLA FOUNDER: Biggest challenge early
was to stay mentally strong and try to run this business when you`re not
taking a paycheck. If you`re doing it, you`ve got to be ready for, you
know, an all out war on the street basically.

ROGERS: Silverstein won that war, eventually opening a restaurant
featuring his Asian and Southern (NYSE:SO) influenced tacos. He still
takes his two trucks out for lunch and catering and expects to do more than
$3 million in revenue this year.

UNIDENTIFIED FEMALE: You are all set with your (INAUDIBLE) pack.

ROGERS: Mac Mart`s Marti Lieberman also went that brick and mortar route
after her mac and cheese food truck became a hit in Philadelphia in 2013.

MARTI LIEBERMAN, MAC MART CO-OWNER: It was only within the first few
months of being on the truck that our first catering jobs came in, which is
an aspect of the business we didn`t even realize would be so lucrative.

ROGERS: She and her sister Pamela wound up launching a Mac Mart store
front, still using the truck for catering and private events. The truck is
booked up through 2018 and her business is set to do about $1.5 million in
sales in 2017.

PAMELA LIEBERMAN, MAC MART CO-OWNER: People come from New York. People
come from Los Angeles. People come from England. We get requests from
Brazil. It`s just super rewarding to hear how many people love o products.

You have a wonderful day.

ROGERS: For NIGHTLY BUSINESS REPORT, I`m Kate Rogers (NYSE:ROG).

(END VIDEOTAPE)

MATHISEN: And to read more about food truck millionaires, head to our
website, NBR.com.

HERERA: Every time we do a food story at the end of the show, feels like
you`re hungry.

MATHISEN: It`s hungry time, right?

HERERA: It`s dinner time.

That does it for us. I`m Sue Herera. Thanks for watching.

MATHISEN: Thanks from me as well. I`m Tyler Mathisen. We`ll see you back
here Monday.

END

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