we can take for example the things like the toyota unintended acceleration problem where three-quartersf the vehicles were never fixed by any recall whatsoever, and the only solution was floor mats for sticky pedals. the same kinds of things we're starting to see with other issues, too. these are playing into the cost benefit analyst. we're seeing the government role and government management they're managed as political issues rather than technical oneones. >> secretary lahood, admissions of fault like that are costly to the reputation of a company. and yet they also have to worry about whether the product is going to kill people, whether there is going to be liability. we see now that they decided not to do anything. weren't they just rolling the dice that this wouldn't turn into a bigger problem down the road? >> but twenty20 hindsight is perfect and it's obvious that they made very poor judgment calls. i talked directly with mr. toyota, and i told him the evidence that we had, i told him what we were able to find. he knew it they fessed up and paid two huge fines. when companies do

toyota, unintended acceleration, lost a little market share, rebounded nicely. right? erican car buyers have a very short memory. >> american car buyers do. their memory is very short. if you look back at the toyota recall, we definitely saw a hit in consumer interest during those few months. the difference being the vehicles that were recalled were for sale at that moment. whereas the general motors recall, you can't buy any of those cars. so, again, will people remember this in a few years' time? probably not. >> jessica caldwell. hey, jessica, great to have you on the show again. thanks very much. >> thank you. >>> here's another big consumer story making waves today. the fda announcing it will begin regulating e-cigarettes. the most important new rule will ban anyone under 18 from buying them. other rules require e-cig makers to place health warning labels on their products and expose the ingredients. some experts think this could be the end of the traditional cigarette. here's another thing. is this just all a pretense? for more tax? you can't tax, of course, e-cig

nhtsa was conducting its investigation of possible electronic problems with, concerning the toyota sudden unintended acceleration investigation nhtsa did bring in nasa to get consultation on electronic problems. here you have a mechanical problem. it is not really an electronic problem. i wonder if it is something of a smoke screen. i can't believe general motors doesn't know its own product and has to bring in space engineers to tell them about a mechanical problem with their own vehicle. that is pretty hard to believe. gerri: they're takinge from logs of folks right now, i think mary barra is. i want to ask you about comments we got this week from a personal injury attorney, mr. bob hilyard. who talked about what should happen right now given the kind of problems that we've seen and in a case he is building in texas one of his clients they use ad single key on one of these cars that has been recalled and still had problems. here is hilyard. >> listen, gerri, there are two million vehicles right now on the roads of the united states that have this defect. and they can not yet be repaired. so regard

toyota also wants to avoid its painful experience of 2010 when it recalled 10 million vehicles because of unintendedcceleration. back then, the president of toyota spent a lot of time in washington. regulators had punished the company for covering up information and being too slow in making the 2010 recall. toyota has pledged to improve the process. he has instituted a three-year freeze on car plans to focus on quality and efficiency. it appears progress has been slow and as just last month -- toyota pledged $10 billion to address safety defects. >> rather than promptly disclosing and correcting safety issues about which they were aware, toyota made misleading public statements to consumers and gave inaccurate fax to -- facts to members of congress. >> in a misguided and ill advised crisis management, toyota made the decision to mislead the public to protect it brand. rather than come clean, the company covered up and misled again and again and again. >> put simply, toyota's conduct was shameful. >> it seems like a lot of that is going around in the auto industry. gm's ceo mary barra is done with he

actually i think it was more devastating to the brand and the company was the toyota situation with the so-called unintendedeleration. that had to do with vehicles currently in the marketplace and at the same time it had an immediate effect but toyota has bounced back very strongly from that position of just three years ago. i think this will get in the rearview mirror of most consumers very, very quickly. >> jack, we're going to leave it there. thanks for your time. we appreciate it. >> my pleasure. >> i think those are excellent points in terms of the cars are not on the market right now and the other issue with toyota was much more devastating and therefore it had an immediate impact. now it's like nothing happened. >> you haven't seen impact in the sales and he makes the point that you do go to a g.m. dealer but you're buying a pontiac. dan is buying a pontiac gt. >> you just offended all these people out there. >> there's nothing wrong with that. >> i spent the last week driving a g.m., the yukons, the suburban. loved it. >> fuel efficient, dan, nice. >> time now for pops and drops, the big movers of t

i led the committee's hearing on toyota's problems with unintended acceleration in 2010. each time, we heard about how auto manufacturers knew about potential defects and about how federal safety officials at the national highway traffic safety administration missed signals that should have alerted them to defective cars on the road. and here we are today under similar circumstances. over the last month, the full dimensions of another auto safety disaster have unfolded. general motors has recalled 2.5 million vehicles due to a defective ignition switch and the company has acknowledged that these cars have caused dozens of crashes and 13 fatalities. mr. chairman, i know the families of some of these victims are in the audience for today's hearing. i want to acknowledge them. thank them for coming. we owe it to them to find out what happened. the facts that we already know are hard to believe. gm has known for years about this safety defect and has failed to take appropriate action to fix the problem. the company installed an ignition switch it knew did not meet its own spe

don't forget, we all remember the unintended acceleration issues that toyota motor had back in the daythey just finished paying 1.2 about dollars criminal penalty to settle that because they continued to produce those cars without even knowing that there were issues. so i think a lot of the automakers, melissa, are really under scrutiny with the safety regulators. back to you. melissa: nicole, did a cheer bo off on the floor when the fed were released? you were right there. >> we did. market is running on the fed minutes. and i chatted with arthur cashin from ubs he said, market is running up, accommodative fed. higher rates will come later. the bond market is reacting. bond market is 2.69%, melissa. you see it right under 2.7%. back to you. melissa: nicole, thank you so much. if your mom or daughter is staying out of the workforce might be the best thing you can do for their financial future. i know. a new study by the pew research center, daughters of stay-at-home moms grow up to have higher household incomes than their peers and that is because they tend to pick wealthier spouses. l

i led the committee's hearing on toyota's problems with unintended acceleration in 2010. each time, we heard about how auto manufacturers knew about potential defects and about how federal safety officials at the national highway traffic safety administration missed signals that should have alerted them to defective cars on the road. and here we are today under similar circumstances. over the last month, the full dimensions of another auto safety disaster have unfolded. general motors has recalled 2.5 million vehicles due to a defective ignition switch and the company has acknowledged that these cars have caused dozens of crashes and 13 fatalities. mr. chairman, i know the families of some of these victims are in the audience for today's hearing. i want to acknowledge them. thank them for coming. we owe it to them to find out what happened. the facts that we already know are hard to believe. gm has known for years about this safety defect and has failed to take appropriate action to fix the problem. the company installed an ignition switch it knew did not meet its own spe

toyota. it resulted in a massive recall unintended acceleration. we talked about it in these hearings. what is particularly bothered to you and i want to put this on the record is the facts around the redesign of a part in a criminal case and going to quote from the facts of that settlement. toyota prius i'm a part using quote a designation that entailed no part number change end of quote. department of justice said toyota engineers did it explicitly to quote prevent their detection and nhtsa. and i know this is gone over with the time and time again but it wanted to make sure we got that in the record that we have had it occur with another car manufacturer. finally i want to talk just a minute about the nature of the defect. i'm confused about this. when i was going through the documents preparing for the hearing from his testimony, acting administradministr ator stephen said gm specifications for the cobalt called for the airbag system to contain an independent power source that is armed and ready to fire for up to 60 seconds after the vehicle's power is cut off. that's in gm specifi

toyota had already recalled six million vehicles for unintended acceleration problems and other issues> being innovative can also be entertaining. >> don ford shows us that's especially true when robots are involved. >> reporter: where else would you celebrate national robotics week except in silicon valley? where else would you find a robot block party? there's the classic, the silly and the serious. this is a real prototype device that could be worn in battle artificial strength. >> to develop a lightweight conformable undergarment that soldiers can wear to reduce the carrying of heavy loads. >> reporter: 50 exhibitors some simple, some sophisticated most of them interesting. this mind control toy helicopter this. 3d remote surgical robot was up and running. of course someone was wearing glass. >> okay, glass, take a picture. >> reporter: would you consider glass to be a robot? >> i would consider glass to be a form of artificial intelligence. >> reporter: easter is coming so you need this egg-bot. >> people are interested. >> reporter: how much do they cost? >> 220. >> reporter: hig

it's toyota's second major recall this year, following a record fine for the handling of its unintended symboleration recall four years ago. save the environment in style. bentley will showcase a plug-in hybrid of its flagship sedan at the auto show but hybrid models won't be on the market until 2017. >>> teens cutting back for prom night pap new visa survey finds the average family will shell out $978 this year. that's down 14% from last year. need to juice your phone fast? an israeli company developed technology that can charge your phone in 30 seconds. the battery is too large to fit into today's smartphones. the company says a smaller version could hit the market two years. >>> up next, are bubbles bursting in the tech sector? twitter, linked inn shares falling back to earth but stocks that could be on the rise. check bargains, next. ♪ [ male announcer ] when fixed income experts... ♪ ...work with equity experts... ♪ ...who work with regional experts... ♪ ...who work with portfolio management experts, that's when expertise happens. mfs. because there is no expertise without collabor

you remember that it was just a few weeks ago that toyota announced a settlement with the u.s. over sudden unintendeds. so you have that settlement which is more than $1 billion looming. and you also have really some sort of disappointing earnings from some of their competitors that show you that there are challenges ahead for the industry. > challenges indeed. thanks so much for that. coming up next, time for the gem. 're going to be hearing from the man with whipping fitness first back into shape. our interview with the company ceo is coming up after the short break. >> it's a familiar tale. you know, join the gym at the start of the year you're so excited about that. months you quit two later after getting board with workouts on the tread mill perhaps. over in singapore, we're joined by one fitness chain hoping to months l of that. later after getting tough stayi. i know that. the gym chain you're talking about is >> you're right about that. it's fitness fed. mustling in after a huge rebranding trying to get back in shape following a financial breakdown. the health club operator came close to gett

yesterday how they think this compares from a perception standpoint to audi's unintended acceleration three decades ago, the toyota do you think this recall is for gm? >> i think it's very similar to the toyota situation, which i described, carl, you'll recall, we spoke back then at the moment. i saw that the confidence and the trust in the brand toyota remained and as long as they did everything that was appropriate now that the facts were out, that they would keep the trust of the toyota customers and that indeed is a fact and they have 15% of the marketplace today. i see the same thing right now. there's confidence in our general motors showrooms from the customers at today's general motors is going to do the right thing. now, the potential is there. if they mishandle the situation and make wrong decisions, the stakes are high and it can do tremendous damage to the company. but everything i've seen from this point, i believe that mary barra will lead general motors through this crisis. >> mike, it's good to get your take. of course, we're well aware that you have an interesting in selling some of their cars, to

real estate pair its image after problems with unintended ak seg rags of vehicles. 1.3 million recalled in the u.s. >> the world's largest car maker, toyota announced defects or monday than 6 million of its vehicles today with five different safety hazards it is one of the biggest recalls in automotive history. it's in 27 toyota models including the highlander matrix, and rave 4. some models affected could have more than one detective. one is a faulty module cable. other recalls on the list include replacing faulty driver seat rails that hold a passenger in place and damaged steering columns that can loosen when the wheel is turned. this isn't the first time that vehicles have been linked to safety issues. the announcement comes less than a month agreed to a $1.2 billion settlement with the justice department in connection to how it handled problems to acceleration. >> toyota is in that position because it cared more about its own brand than bottom line and truth. >> since then, the company aagreed to be monitored by a third party to improve its safety reporting process. it's unclear if the recent recalls are related, but analysts expect

toyota down 1.6%. out 1732. worldwide recall. this is shortly after they are paying their criminal settlement of $1.2 billion, that was the penalty for the unintended they produced cars even knowing that that was a potential problem, so we are hearing these automakers pride to be more proactive with recalls and the like, but it seems-- i feel uncomfortable. they are doing this recall, you have gm reap avoiding questions. i read this week the honda pilot was having issues as well as the mazda suv and i'm being very careful to go around for company to come because it seems that all the automakers just don't have it that easy. they have to put out some sound of vehicles that need to be safe. stuart: what strikes me is the affect on toyota stock where just a couple months ago that thing was around $130 a share now it's about $107 and i notice general motors broke below $34 a share at it those interesting do it coming to this, lauren? >> the issue with toyota is that after that string of recalls, about four years ago after the earthquake and tsunami in japan they're finally getting their profits back. every thing was looking good for the company and now

toyota. certainly the largest coming back in 2009 when there were, what, almost 10 million vehicles recalled due to unintendede looking at. there are a number of recalls involved here. two major ones. altogether, number of vehicles impacted, 6.76 million vehicles worldwide. 2.3 million of those in north america. we should point out, some of the vehicles are named in both recalls. that's why you see a number -- numbers that are flying out there right now in terms of total number. 27 models. the corolla, yiris, rav 4, and depending on the recall, we're talking about vehicles made between 2004 and 2013. so what are the recalls involving? well, toyota says there could potentially be faulty air bags, problems with the seat rails, or potentially the steering involved in some of the vehicles. but we should point out, toyota says there are no known accidents or deaths related to the recalls being announced today. toyota is trying to determine exactly what the repair-fix will be for the recalls. remember, with a recall, you don't have to come out and announce the fix right away. you simply have to say there is a recal

toyota recalls more than 6 million cars because of five different effects. -- defects. the cars being recalled include top sellers. restoreany is trying to its reputation after the massive recall back in 2009, 2010 because of unintended acceleration. >> it is a stunning size. >> think of all the different gm recalls and become a be close to the number when all was said and done. this is all at once. >> there are so far, no deaths attributed to the faults identified in these cars. that is an extremely important distinction to be made. >> you look at the why. you wonder if every other company is trying to get out in front of the uproar over gm. is ford's next? -- his ford next -- is ford next? >> they did on medicare. -- big data on medicare. >> i am too young for this story. >> yeah, right. some doctors are making a fortune off of medicare. almost 4000nt paid doctors more than $1 million each in 2012. million, -- one doctor got what he $1 million from the government -- what he $1 million from the government $21 million from the government. imagine?u >> i would like to see some better math. i am going to defend the doctors here. is it a few doctors benefiting or is it more than a few? >> we are going to be talking to s