>> welcome to "lunch money" where we tie together the best videos, stories in today's news. adamden johnson -- i am johnson. there will be someone new in the driver seat at gm, and it will be a first in the global automotive industry. will talk about it. on wall street, the volker rule is about to become the new reality on banks. we are about to go inside ups, the biggest shipper of packages in the world. in world -- celebration nelson mandela as the world says goodbye on a high note. in the wild card, 12 days of it going -- 12 days of bitcoin. someone new in the driver seat at general motors. mary burroughs is succeeding dan

ackerson. she started as a plant engineer on the factory floor when she was just 18, and the rest of her resume stands on its own. she was head of manufacturing, but religious given the second half, head of product of element in 2011. her real calling card is cutting management layers, cutting red tape costs, and trying to taper what gm does while still building cool cars to make money. >> barra's appointment would make her the first female ceo for an auto company on the entire planet. she was asked what it was like to be a woman in a traditionally male-dominated business. >> i worked at general motors for 33 years with wonderful people. i always have been evaluated on what i contributed and what results i was able to obtain into your organization, but we come together as a team. putting a car or truck on the road is a team sport.

i just view myself as part of a team. if by being a woman i can encourage young women who like math and science to not shy away from it and to pursue technical careers, i love doing that, but at general motors, i think i have the best job in the field, to be able to work on product all day long. >> reaction so far? very positive. >> mary has a lot of talent, and a lot of experience. she is very personal. she did a terrific job in the human resources function at general motors. >> what was it specifically about her and continues to be about her that makes her the kind of leader general motors needs right now? >> she's very experienced, very good with people. she has excellent experience

working with people. she knows general motors backwards and forwards. she has been there quite a while. she just had all the attributes necessary to be a great leader. >> what a great way for gm to celebrate its free at last from government ownership, but it is a bold move, regardless of qualifications, and what a shattering of the glass ceiling in this industry. i think it's a great day for gm. >> for me, she is a surprise. i thought steve gursky might have been a candidate. bringing her into this role gives the company somebody who has had the exposure now to the international product lineup. you know, gm is going to be a global company, and it aspires to be a more rational global company. >> the promotion follows another big announcement yesterday -- five years and 4.5 billion dollars later, the treasury department has sold the rest of its stake in gm. taxpayers actually lost about

$10.5 billion on this bailout -- sorry to say that -- but the stock actually hit a record yesterday. $40.90. back to barra, she has her work cut out for her. >> the biggest race going on is in technology and who comes up with the best powertrains at the lowest fuel burn. therefore, i think experience in r&d, engineering, which she has had some of, is really critical. i think the new challenge for safety and the new challenge for high-tech convenience all combine r&d, engineering, really critical. for general motors, as is true of some other auto companies, others are trying to achieve what i call worldwide cars. you buy the same car the same day, whether you are in europe or the u.s. or japan, and gm is

a bit behind. those are the areas that i think mary will be challenged with, and i think she has had the background to do it. >> for separate brands actually comprise gm -- buick, sit -- four separate brands comprise gm buick, chevrolet, cadillac. >> we are right here at the l a car show. -- l.a. car show. is this like the prom for you? >> i would not consider it the prom. it is kind of like a traveling circus. >> i'm looking around on the floor, and this does not look like my old man's cadillac. the cadillac behind me looks more like the kind i would buy after my second or third divorce as a guy, right? >> we are having a lot of fun

with cadillac. i have to tell you, we have more cadillacs under the belt today than at any other time in the 110-year history of the brand. it is that busy. >> when i look at the brand, bankrupt company, bankrupt city, does not beat of luxury brand anymore. what are the challenges for you? >> the challenges are many. one is time. we don't have time. the customers and markets are not going to wait for us to do the right thing. they are not going to a three years, four years -- >> how many years do you have? >> we need to move fast. there are certain gaps we have in our portfolio that we need to fill. >> is this one of the gaps? the big muscle car? >> that is one of the gaps. i would love to see that car in production. this is a very different proportion, and we will kenyan shilling -- we will continue to move and eve all the brand.

>> what was it that made you guys say that we cannot be our dad cadillac? >> we had to look in the mirror and see what the challenges were and get out of detroit and take a look at the whole industry. i think during the darkest days >> which were when? >> during bankruptcy. every day, you would hear this terrible headlines, and i the entire design team together, and i talked about how we were going to get this -- through this bankruptcy. when we come out the other side, everyone will look. >> how do you measure at the end for a design team success? >> it is a lot more than a pretty picture or a pretty car. we are not designing this to hang in the museum of modern art. we want people to purchase it. it has to be the kind of compelling design that connects with people on an emotional level that they have got to have this vehicle. >> you can watch "c-suite" tonight right here and only on bloomberg television. from cadillacs to delivery

trucks, we take you inside ups and the massive louisville processing center during the busiest time of the year. that is coming up. first, big day for the banks. even though they may not like it. we will break down the final version of the volcker rule coming up. and that's the end of the road for the volkswagen minibus. they are going to stop making it altogether because of new safety and environmental regulations. there is a beautiful old one. it has been on the road since 1950. ♪

>> in wall street, this is a big day for the volcker rule, the one with a bunch of new regulations meant to ban proprietary trading at big banks.

that means they cannot trade money that does not help the clients. fed chair ben bernanke says the volcker rule will limit risk- taking. it has been many years in the making. >> i don't think they should make it all that complicated. why are we sitting here three years later? >> where do we stand now, and what exactly is this? >> it does ban proprietary trading for banks on wall street, trading off their own accounts, trying to profit off their own accounts. it also bans them from participating with some limitations and hedge funds and private equity funds. the language is very important. it is tougher on the hedging side of things, things like the london whale trading that jpmorgan went through.

>> we might not know exactly how the rule will impact banks. one analyst is not expect all that much. >> traditional market-making activities will be perfectly allowable. what the fed will ultimately be looking at is defining this as a gray area. they probably will not define market-making specifically. they probably will take a "we know it when we see it" approach and if they see too much volatility, that will be punishable, so it will end up reducing liquidity. you will end up seeing more of the shadow banking system step in. >> one bloomberg contributor who is usually a harsh critic of banks is fighting this time with the anti-volcker camp. >> they're trying to fix something that was not broken. i have been a supporter paul volcker, but i think he is

really off that balance of this one. they will figure out a way to get around it. there's too much money to be made. two, the problem was not proprietary trading. this was not about her prior terry trading. proprietary trading. we are honest, the fact of the matter is goldman sachs saved itself as a firm by putting on a $4 billion proprietary trade. forget the hedge part. it was a proprietary trade against the mortgage market in december 2006. the firm made $4 billion on one trait alone, made $17 billion pretax profit in 2007 when everyone else was going down the tubes. they save themselves. >> we are going to live with the

volcker rule. how should we amend it to make it a value? >> take it, tom, move it to the wastebasket, and drop it in. >> the first thing that regulators need to do is rename the volcker rule the diamond rule because that is the only part of the statute, this regulation, that has any teeth, the hedging part. the idea of tying every risk to every trade will surely throw compliance offices around the country in these banking divisions in a tailspin. how did you do that? how do you tie specific risks to specific trades? that comes directly from the jpmorgan whale trade debacle, and that will be the real teeth of this legislation. >> as this rule becomes a reality, what actually matters most? >> what really matters is how aggressively these regulators actually implement it. >> how will be volker rule affect competition among banks themselves? there are two different views on

this one. >> i don't think it will stop banks from being competitive. i think it will safeguard our financial system. >> i think that it will hurt the competitiveness of american banks -- how can it not? when you have other banks that are not subject to restrictions on hedging, are not subject to restrictions on trading, can provide capital cheaper to their clients because they can be more effectively hedge, how can that not marginally hurt a competitive edge? >> bottom line, they do agree on one thing. >> the language is not very specific at all. how you determine the reasonable expectations, that's a fake. saying hedging against a specific identifiable risk -- what on earth does that mean? >> the rules are necessarily a bit vague. it will depend how they are enforced, and culture matters. that's why i really hope we see

ceo's taking the spirit of the rule on board. >> the commissioner of the cftc even pushed for a tougher volcker ruler. >> it does a lot of good things, which i think are the full intent of the law. >> banks will have until july 2015 to comply. we are off to ups next. it's the busiest time of the year for the world's largest package moving company, and it takes a lot of muscle to do it. we are going inside ups next. ♪

>> we are going inside ups.

it's the busiest season of the year for the world's biggest package delivery company. >> this year is different for ups. ♪ ♪

♪ >> this year is different for ups. the holiday shopping season is shorter, which means workers have fewer days to get the job done. carol massar sat down with the cfo. just so you know, it's noisy. >> this shopping season between thanksgiving and christmas has six less shopping days. what typically happens when the calendar is suppressed like that is we see much more on a daily basis. we expect average volume between thanksgiving and christmas will be up about eight percent on a

per-day basis. >> last year, you had your busiest day, i think, of 4 million packages either december 20 or december 20 one. -- 21. do you think you guys might break that mark? >> there's a good chance of it. we will process over three point 5 million packages just in this -- 3.5 million packages just in this building a lone. >> you guys are also working with brick and mortar retail as well to help them compete against all that online activity, are you not? >> we have seen a lot of activity over the last decade as e-commerce becomes a bigger part of every retailer's business, so we have helped very hard to help brick and mortar stores figure out how they can compete. one of the things we've seen recently is that a lot of good retailers are using individual local stores as shipping locations, so we may have ups

drivers making pickups at 400 or 500 different stores around the country, and then delivering those goods next day and that local area. >> we love talking to ups because you guys really are an economic bellwether. what do you see in terms of volume -- what does it tell you about the consumer, the holiday shopping season, and the economy overall? >> in general, we have seen the u.s. economy improving steadily that not as fast as anyone would like. that has been the story all year. during this holiday season, you know, you see different numbers. i think if you look at the surveys that are primarily brick-and-mortar retail stores, they show slightly disappointing results. at the same time, we have seen e-commerce sales up several digits. oh that averages out, we will see. >> i know sustainability is an

important area for you. i see it in the company, you want to be fast, but you are also thinking about the impact on the environment. >> right. doing more with less has always been cultural at ups. we realize we do have a huge impact on the environment, so we spent a lot of time researching new technologies. one of the biggest things -- we just committed to purchasing over 1000 tractors run on natural gas, so we are very excited about that. it is a much more efficient way to power vehicles, and we are a big supporter of that. >> ups, by the way, also working on a system of algorithms to shave fractions of a mile off every driver's route. added up, this thing could save millions. we will have more on this technology they call or ryan as -- orion as we go inside ups all day on bloomberg television, bloomberg.com, and btv+ -- more on this tall -- more on this technology they call orion. next, world leaders join to

celebrate nelson mandela. ♪

>> bankrupt company, bankruptcy d -- howdy be a luxury brand? >> for 30 years, we lost our way. sales had declined. away with not listening to customers? how do i know you are listening now? >> the biggest thing is still pushing through that perception that it is the old man car. best produce the world's cars again. we can do th