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May 22, 2014
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barra briefed lawmakers on the switch recall. gm could release results into a problem and a plan to compensate victims within a few weeks. barra said gm can't keep up with demand, but should catch up by july. >>> carnival is spending $400 million to reduce air pollution from the diesel engines that powers it more than 670 cruise ships. they'll use scrubbers to cut sulfur dioxide emissions and plug into the electrical grid rather than idle while in port. scott? >> seema mody, thank you very much. >> sometimes we see the big ships plugged in. >>> we're going to check the forecast city by the bay this morning and else where. christina has a look at those temperatures. >> a lot of people coming into town for the holiday weekend. if you're headed out and about, a look at your travel forecast coming up in just a little bit. right now, let's keep it local. temperatures mostly in the 50s to kick off the day and so close to that weekend now and it's going to be nice, as you know, memorial day, typically known as the unofficial kick off of summertime and we're actually going to climb all the way through sunday and then those temperatures cra
barra briefed lawmakers on the switch recall. gm could release results into a problem and a plan to compensate victims within a few weeks. barra said gm can't keep up with demand, but should catch up by july. >>> carnival is spending $400 million to reduce air pollution from the diesel engines that powers it more than 670 cruise ships. they'll use scrubbers to cut sulfur dioxide emissions and plug into the electrical grid rather than idle while in port. scott? >> seema mody,...
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May 17, 2014
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in a statement gm's ceo mary barra said gm's ultimate goes is to create an exemplar process and produce cars. >> he's in charge of highway safety, he's been in the front of this fight since the beginning. senator, thank you very much for joining us here this morning. >> good to be with you. thank you. >> $300 million. that's what secretary fox wants it to be. that would be almost ten times what it is now. is that enough? >> i'm going to impose legislation to eliminate the cap entirely $3678900 million is still a pit answer compared to $37 billion which was gm's revenue just in the first quarter this year. so it has to be more than a slap on the wrist, more than the kind of parking ticket that the cap. >> what i find fascinating is we keep hearing from mary barra and we haven't heard from any of the executives where these changes were made under their watch. is she being made a scapegoat? is she being thrown under the bus? >> that's a good question. the question is who knew what when as frequently happens in these investigations but the reason why it's also pertinent and timely is this d
in a statement gm's ceo mary barra said gm's ultimate goes is to create an exemplar process and produce cars. >> he's in charge of highway safety, he's been in the front of this fight since the beginning. senator, thank you very much for joining us here this morning. >> good to be with you. thank you. >> $300 million. that's what secretary fox wants it to be. that would be almost ten times what it is now. is that enough? >> i'm going to impose legislation to eliminate...
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May 16, 2014
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said it did not disclose details in a timely manner. the company also agrees to ongoing oversight from federal regulators. in a statement acknowledging the agreement today, gm ceo mary barra said "we have learned a great deal from this recall. we will emerge from the situation a stronger company." after therose announcement, perhaps relief that the penalties were not higher. far from over.re we also learned today the company faces more than 60 civil lawsuits as a result of this recall situation. >> peter, are there more investigations to come? >> there are. congress is still investigating g.m.'s handling of the ignition switch issue. the justice department is looking into it. and justice carries a much bigger stick here. you may remember the deferred prosecution agreement with justice died to be handling of accelerator issues. that is not lost on mary barra and the rest of gm's management. >> peter cook, thank you. meantime, general motors is recalling more than 8000 midsized cars to fix a problem with the brakes. it affects buick lacrosse and chevy malibu. recall this24th year. since january, gm has recalled million cars and trucks. coming up, does an unexpected drop in
said it did not disclose details in a timely manner. the company also agrees to ongoing oversight from federal regulators. in a statement acknowledging the agreement today, gm ceo mary barra said "we have learned a great deal from this recall. we will emerge from the situation a stronger company." after therose announcement, perhaps relief that the penalties were not higher. far from over.re we also learned today the company faces more than 60 civil lawsuits as a result of this recall...
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May 17, 2014
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gm ceo mary barra said, we will focus on becoming an industry leader in safety. this settlement gm has agreed do make internal changes. gm is still under investigation by two congressional committees as well as the justice department and could face criminal charges. bisi onile-ere, al jazeera, detroit. >> bisi, thank you. >>> 1954 class action lawsuit was brought by oliver brown against the topeka, kansas, board of education. first lady michelle obama told topeka graduates tonight that some schools remain segregated, because some schools choose to remain separate. >> students of color tao often lag behind with crumbling classrooms and less experienced teachers. and even in schools that seem integrated according to the numbers, when you look a little closer, you see students from different backgrounds sitting at separate lunch tables. >> and one school in washington state has a unique task when it comes to integration. foster high school is located in tukwila, washington, claird as s the most d -- declared as the most diverse school district in the united states.
gm ceo mary barra said, we will focus on becoming an industry leader in safety. this settlement gm has agreed do make internal changes. gm is still under investigation by two congressional committees as well as the justice department and could face criminal charges. bisi onile-ere, al jazeera, detroit. >> bisi, thank you. >>> 1954 class action lawsuit was brought by oliver brown against the topeka, kansas, board of education. first lady michelle obama told topeka graduates...
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May 29, 2014
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as thenounced mary barra new gm. she said this is a new company with a new attitude and quality is back and that is the new standard. recalls isf these now obviously bringing those promises and to those declarations into question. it is far from clear that gm will really be able to establish itself as a new am opposed new,uptcy company -- as a post-bankruptcy company. we are talking with paul barrett of bloomberg businessweek in this week's spotlight on magazine piece. the article is why gm keeps swerving from apology to aggression in recall crisis. our phone lines are open. democrats can call (202) 585-3880. republicans, (202) 585-3881. independents, (202) 585-3882. a special line for gm car owners, (202) 585-3883. barra's rolemary in this. i want to talk about how she has handled herself in front of congress. here's a bit from her testimony last month when she testified about some of the safety issues here. >> i cannot tell you why it took so long for a safety defect to be announced for the program. i can tell you that we w
as thenounced mary barra new gm. she said this is a new company with a new attitude and quality is back and that is the new standard. recalls isf these now obviously bringing those promises and to those declarations into question. it is far from clear that gm will really be able to establish itself as a new am opposed new,uptcy company -- as a post-bankruptcy company. we are talking with paul barrett of bloomberg businessweek in this week's spotlight on magazine piece. the article is why gm...
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May 28, 2014
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as thenounced mary barra new gm. she saidhis is a new company with a new attitude and quality is back and that is the new standard. recalls isf these now obviously bringing those promises and to those declarations into question. it is far from clear that gm will really be able to establish itself as a new am opposed new,uptcy company -- as a post-bankruptcy company. we are talking with paul barrett of bloomberg businessweek in this week's spotlight on magazine piece. the article is why gm keeps swerving from apology to aggression in recall crisis. our phone lines are open. democrats can call (202) 585-3880. republicans, (202) 585-3881. independents, (202) 585-3882. a special line for gm car owners, (202) 585-3883. barra's rolemary in this. i want to talk about how she has handled herself in front of congress. here's a bit from her testimony last month when she testified about some of the safety issues here. >> i cannot tell you why it took so long for a safety defect to be announced for the program. i can tell you that we wil
as thenounced mary barra new gm. she saidhis is a new company with a new attitude and quality is back and that is the new standard. recalls isf these now obviously bringing those promises and to those declarations into question. it is far from clear that gm will really be able to establish itself as a new am opposed new,uptcy company -- as a post-bankruptcy company. we are talking with paul barrett of bloomberg businessweek in this week's spotlight on magazine piece. the article is why gm keeps...
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. >> gm has agreed to pay the fines and submit to additional oversight. ceo mary barra saidn a statement, we will now focus on the goal of becoming an industry leader in safety. we will emerge from this situation a stronger company. >>> a man's body was found in folsom lake this morning. it hasn't been identified, but it's thought to be one of the four men killed in a boat accident. a speedboat going more than 100 miles an hour capsized on the lake last saturday. crews have been searching the waters since then but have not had any luck. >>> california is experiencing a dramatic spike in the number of cases of whooping cough. doctors say the best defense, get vaccinated. more than 1700 cases have been reported since january. that's more than triple the number of cases the same time last year. more than 90% of the cases are in kids under the age of 18, but anyone can get it. whooping cough also known as pertussis, starts out like a cold and ends up in a long coughing fit. >>> well, there's some good news on the job front in california. the state's unemployment rate fell in apr
. >> gm has agreed to pay the fines and submit to additional oversight. ceo mary barra saidn a statement, we will now focus on the goal of becoming an industry leader in safety. we will emerge from this situation a stronger company. >>> a man's body was found in folsom lake this morning. it hasn't been identified, but it's thought to be one of the four men killed in a boat accident. a speedboat going more than 100 miles an hour capsized on the lake last saturday. crews have been...
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. >> reporter: so far gm acknowledges more than 30 crashes and 13 deaths connected to the defects. in a statement today, mary barra said we learned a great deal from this recall. we'll focus on the goal of becoming an industry leader in safety. the national highway traffic safety administration is also under fire for failing to act sooner. meanwhile, industry watchdogs believe the company has gotten off easy. >> it's a slap on the wrist for gm to pay a $35 million fine when they are a $100 billion corporation. >> reporter: federal regulators are asking congress to raise the maximum fine it could levee from levy from $35 million to $300 million in the future. gm is paying a $7,000 a day penalty for failing to provide all of the documents the government demanded. meanwhile, it's facing mounting lawsuits and a justice department criminal investigation. brian? >> tom costello on the story for us this friday night, tom, thanks. cnbc will air an hour-long dom tear called "failure to recall -- investigating gm" premiers sunday night 10:00 p.m. eastern time. >>> more violence in turkey today. protesters angry at the government
. >> reporter: so far gm acknowledges more than 30 crashes and 13 deaths connected to the defects. in a statement today, mary barra said we learned a great deal from this recall. we'll focus on the goal of becoming an industry leader in safety. the national highway traffic safety administration is also under fire for failing to act sooner. meanwhile, industry watchdogs believe the company has gotten off easy. >> it's a slap on the wrist for gm to pay a $35 million fine when they are...
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May 16, 2014
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gm. buffett said he was impressed when he met mary barra but didn't keep his company from cashing out on. the carmaker announced a recall yesterday involving almost 3 million cars. one of the vehicles involved in the recall was flagged as early as 2008. a technical bulletin in 2008 about a certain problem with some tail lamp wiring. and now a recall, what, eight years later. it shows maybe a new aggressive gm -- >> a more aggressive gm. >> that's right. >>> let's talk about the business of basketball now. donald sterling not going down without a fight, according to "sports illustrated." the banned clippers owner has told the nba he will not pay a $2.5 million fine. he plans to sue the league because he says he did nothing wrong. this news was reportedly delivered in a letter from sterling's new attorney, prominent antitrust litigator maxwell blecher. cnn has reached out to the nba and sterling and has not been able to independently confirm this report, but if true, man, oh, man, this could get ugly. >> yeah. >>> all right, wind, rain, flooding, even tornadoes. the east coast slammed by s
gm. buffett said he was impressed when he met mary barra but didn't keep his company from cashing out on. the carmaker announced a recall yesterday involving almost 3 million cars. one of the vehicles involved in the recall was flagged as early as 2008. a technical bulletin in 2008 about a certain problem with some tail lamp wiring. and now a recall, what, eight years later. it shows maybe a new aggressive gm -- >> a more aggressive gm. >> that's right. >>> let's talk about...
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gm is serious about this. that they want to similar to what mary barra said, they recognize that it is their responsibility. and that it's time to sit down and try and examine each case. gerri: okay. so he is taking it seriously. he is taking it seriously. >> yeah. gerri: and other big question, go right ahead. >> yeah. i'm saying ken feinberg has a lot of experience. gerri: yes. >> he and i know each other. i have a lot of respect for him but this case is much different than 9/11 or one boston. here we have a culpable defendant in gm, possibly criminally culpable defendant, that has, you know, $30 billion in cash on hand. and they have the responsibility for every single one of these injuries and deaths. so feinberg's task, feinberg's task, is what do we do with this, how do we do it? gerri: the amount of money they have on hand to pay your clients, still a matter of debate at this time i think but one of the questions being asked over and over again, maybe you have some insight into this, whether gm will compensate people who were injured or who bought a car he have about the bankruptcy? there seems to be
gm is serious about this. that they want to similar to what mary barra said, they recognize that it is their responsibility. and that it's time to sit down and try and examine each case. gerri: okay. so he is taking it seriously. he is taking it seriously. >> yeah. gerri: and other big question, go right ahead. >> yeah. i'm saying ken feinberg has a lot of experience. gerri: yes. >> he and i know each other. i have a lot of respect for him but this case is much different than...
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barra and decision is not related to the recall. separately "usa today" says they're offering prices purchasing to the owner of recalled cars. the move comes weeks after gm saidt would offer to drivers a program that ended april 30th. >>> google is taking on amazon offering same-day delivery. google charges $4.99 per order while amazon charges $9.98 for same-day delivery in 12 u.s. cities. for now google is offering free membership, at least for six months. back to you. >> courtney, yeah, that started here. it's marvelous. >> just in time for mother's day. >> it's at your doorstep. >>> let's check in now with christin christine. she has a look at our forecast. maybe a hat is in order. >> if you have hat, hold on to it tightly. wind will strengthen as we progress throughout your tuesday. starting out with temperatures rather chilly. compared to yesterday, we're running quite a bit cooler to two to five degrees and if we head throughout the day, temperatures are a touch warmer by the day's end and you're probably not going to notice a difference because a bit of a wind chill factor all day long. patchy fog and although it's pretty blustery out there. that's wha
barra and decision is not related to the recall. separately "usa today" says they're offering prices purchasing to the owner of recalled cars. the move comes weeks after gm saidt would offer to drivers a program that ended april 30th. >>> google is taking on amazon offering same-day delivery. google charges $4.99 per order while amazon charges $9.98 for same-day delivery in 12 u.s. cities. for now google is offering free membership, at least for six months. back to you....
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little known i felt not concentrated on snippet from warren buffet when becky talked about gm where he said that barrald run any of his companies, he thinks the world of her, they're talking about $5 in earnings power no incentives this quarter, ahead of -- in europe to ford, gm business very, very strong. this is a company that people have decided is going to be bp and it's not going to get bp. >> also, one of the big three, one that beat expectations on march sales. >> 6%. i mean geez, you look at this company and think, shouldn't they have had sales down 10%. they're offering some incentives today but the one i look at general motors, i think to myself, here's a company that has had the worst headline news in this era and it's still ticking. >> more than ticking. i mean it's only 6 bucks below it 52-week high. >> remember how bad when toyota had that problem. sales plummeted. sales should have plummeted and didn't. maybe sometimes what doesn't happen is a chairen call. >> we'll get cramer's mad dash, count down to the opening bell and one look at the premarket on this tuesday. more "squawk on the s
little known i felt not concentrated on snippet from warren buffet when becky talked about gm where he said that barrald run any of his companies, he thinks the world of her, they're talking about $5 in earnings power no incentives this quarter, ahead of -- in europe to ford, gm business very, very strong. this is a company that people have decided is going to be bp and it's not going to get bp. >> also, one of the big three, one that beat expectations on march sales. >> 6%. i mean...
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said. of course, gm won't be broken up. that might be a good starting point for gm. the problem is gm has not been able to get in front of this at all. mary barrad repeatedly they are going to evaluate and investigate and they will deal with it as they go. well, they haven't been able to get out in front of this and they have a major image problem so anything they can do to make it seem like they are being responsive and getting out in front of this would be a good thing. >> phil, i just have a question. peter's point is that this brand has basically been totaled by this incident. when you look at what dealers are seeing right now, do you think they will get through this, or are you seeing a real impact on consumers? >> not seeing an impact in terms of sales or traffic in the showroom. as strange as this sounds, people look at this and say those are models from 2003 to 2007. i'm not looking hat that right now when i go into a chevy showroom and, therefore, it's not impacting the desire of some people to at least look at general motors vehicles, let alone buy them. >> peter, thank you for your take. >> ironically enough, gm is building the best
said. of course, gm won't be broken up. that might be a good starting point for gm. the problem is gm has not been able to get in front of this at all. mary barrad repeatedly they are going to evaluate and investigate and they will deal with it as they go. well, they haven't been able to get out in front of this and they have a major image problem so anything they can do to make it seem like they are being responsive and getting out in front of this would be a good thing. >> phil, i just...
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May 23, 2014
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gm is the big money story again today. the ceo, mary barra, having private meetings on capitol hill with lawmakers. here's what she has said publicly. >> we've moved from a cost culture after the bankruptcy to a customer culture. >> behind closed doors, she's been promising lawmakers constant communication, saying they'd receive a copy of gm's internal investigation in early july. she says she will testify at future hearings. barra became ceo just one month before the first massive recall was announced, and so far, you know, a lot of observers say she has done everything right. she's appointed an internal investigation. she has put in a safety czar. recalls may continue through the summer. according to barclays, gm hired 30 investigators to comb through data and find possible issues. that means maybe even more recalls. >> right. >> you're going to see even more. another really interesting twist to that gm story, they're rg trouble finding the parts. very few vehicles have actually been fixed yet because they have a rush of people who are going to need parts. some cases, they don't have the parts. >> you don't build your bu
gm is the big money story again today. the ceo, mary barra, having private meetings on capitol hill with lawmakers. here's what she has said publicly. >> we've moved from a cost culture after the bankruptcy to a customer culture. >> behind closed doors, she's been promising lawmakers constant communication, saying they'd receive a copy of gm's internal investigation in early july. she says she will testify at future hearings. barra became ceo just one month before the first massive...
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May 23, 2014
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gm, though, is the big story again today. ceo mary barra having private meetings on capitol hill with lawmakers. here's what she has publicly said. >> we've moved from a cost culture after the bankruptcy to a customer culture. >> all right, behind closed doors, she's been promising lawmakers constant communication, saying they'd receive a copy of gm's internal investigation in early july and that she would testify further at hearings. and so far, congressional aides are telling us they like what they're hearing from mary barra. she became ceo just one month before the recall was announced, and so far, those aides say they like the messaging from the new ceo. but recalls may continue through the summer. now, according to barclays, gm hired 30 investigators to comb through data and find possible issues. so, maybe, just maybe you're going to see more of this. also, mary barra telling lawmakers, frankly, that they don't have all the parts yet to do all of these recalls and all of the repairs. so, there's going to be a long road, no pun intended, for mary barra and that company. >>> before you go shopping for the memorial day cookout
gm, though, is the big story again today. ceo mary barra having private meetings on capitol hill with lawmakers. here's what she has publicly said. >> we've moved from a cost culture after the bankruptcy to a customer culture. >> all right, behind closed doors, she's been promising lawmakers constant communication, saying they'd receive a copy of gm's internal investigation in early july and that she would testify further at hearings. and so far, congressional aides are telling us...
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. >> reporter: so far, gm acknowledges 31 crashes and 13 deaths associated with the defects. in a statement, ceo mary barra said we have learned a great deal from this recall. we will now focus on the goal of becoming an industry leader in safety. many victims' advocates believe general motors has only been hit with a slap on the wrist. >> it will not make gm think twice again. they can make that $35 million back before the end of today's business. >> federal regulators are asking congress to eventually raise the maximum fine it can levy from $35 million to $300 million. gm is also paying a $700,000 a day penalty for failing to provide all of the documents the government has demanded. meanwhile, it's facing mounting lawsuits and a justice department criminal investigation. for "today," tom costello, nbc news, washington. >>> there is more fallout this morning in a growing scandal over health care for veterans. friday, undersecretary for health, robert petzel resigned from his post at the va under the request of secretary eric shinseki. >> reporter: the center of the va controversy is arizona where the phoenix m
. >> reporter: so far, gm acknowledges 31 crashes and 13 deaths associated with the defects. in a statement, ceo mary barra said we have learned a great deal from this recall. we will now focus on the goal of becoming an industry leader in safety. many victims' advocates believe general motors has only been hit with a slap on the wrist. >> it will not make gm think twice again. they can make that $35 million back before the end of today's business. >> federal regulators are...
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motors and hoping to include ceo mary barra who said she knew nothing of this recall until it was brought to her attention later this year. that's the latest on the faulty gmignition switch. back to you >> you do have a special coming up on gm this weekend, is that right? >> and we're going to look at this. failure to recall, investigating gm and at the party of the recall is a decision made by a form former engineer, the decision was brought up at the congressional hearings and according to lance cooper, i want to talk to giorgio again and other executives. that's what the attorney for the melton family is saying. >> one you can't miss. not only people who own the sandercock. >> thanks, phil. >> sriracha, the wildly popular hot sauce maker has been feeling the feet. >> a big deal out there. the condiments manufacturer has been in a hotly contested war of words from legal action from neighbors who claim that the spicy smells that come from the factory are harmful and other states are wooing this company hoping to net a spicy deal and some added jobs. scott cohn is in california with the latest. >> if you don't know the product by number. it's made by hyfon
motors and hoping to include ceo mary barra who said she knew nothing of this recall until it was brought to her attention later this year. that's the latest on the faulty gmignition switch. back to you >> you do have a special coming up on gm this weekend, is that right? >> and we're going to look at this. failure to recall, investigating gm and at the party of the recall is a decision made by a form former engineer, the decision was brought up at the congressional hearings and...
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is he not said to have suggested that mary barra knew about the defective switch before she took over at the helm of gm early this year. i honestly don't know if that's a tall tale or not. think about what goes into making a car. there's a lot of switches. i forgot a made a change to the switch. if he made the switch in relation to what looked like a safety issue, you'd probably remember making the switch. >> it's been a long time. i guess you would go through some of those things. if you were definitive in your earlier testimony, that's where you can get in trouble. >>> and bill ackman is reportedly trying to raise billions of dollars for a closed-end fund. the fund could list on the london stock exchange as soon as this summer. that moves let's him raise money not subject to redemption requests. i used to sell these things. they trade on -- they don't trade based on that asset value. they trade based on supply and demand. we had something that was hot. marty came up with a closed-end fund. it can go up or down. >> it's animal spirits, what somebody else will pay for your portion. >> the net asset val
is he not said to have suggested that mary barra knew about the defective switch before she took over at the helm of gm early this year. i honestly don't know if that's a tall tale or not. think about what goes into making a car. there's a lot of switches. i forgot a made a change to the switch. if he made the switch in relation to what looked like a safety issue, you'd probably remember making the switch. >> it's been a long time. i guess you would go through some of those things. if you...