how will that help chrysler and general motors make a profit?> senator it is counter intuitive and indeed in our report we took a sample market but the dealership that was eliminated was that that sold aha is. >> more chrysler's debt and the other serious but for every objective criteria was the highest with the best performing dealer and chrysler was up front and said the reason they got rid of him is that he had in his agreement the ability to prevent other chrysler dealerships from selling jeeps within a certain radius. he did not play ball so they got rid of him. we heard the story over and over and to research an extent on the gm side with lack of documentation on the chrysler side the ability two over appeal that has been termed. >> let me ask the last question. this is of follow-up on the aig waiver that i asked earlier professor warren. do either of you or have you looked at the latest giveaway in the form of aig legal rights touse do? to make the indicators of financial performance and the ability to restructure fell off with businesses

chrysler is the big question mark.ecause they're now under the management control of fiat, the italian automaker. and we've heard that fiat wants to make chrysler, give it more focus on small cars. but remember, this is the company that brought you the minivan. this is the company, president obama was at a factory today that makes the jeep grand cherokee. so it's sort of a u-turn for chrysler under foreign management. and that's going to be a tougher sell. i think general motors has seen the light. they have new management. many people from outside are at the top of general motors. and they know that... they have sort of stared into the abyss and they don't want to fall into it. >> woodruff: so staying with you, mickey maynard, general motors about to be publicly traded, we believe, in the next month or so. where does the bailout stand? do you see it as a success or what? how do you judge it? >> i think it's too soon to tell, judy. general motors still owes the government... i shouldn't say owe, because they were given

currently have in gm and chrysler?st: they have essentially given control of general motors over to the board of directors. they have a 51% stake, about $41 billion. they have a much smaller stake in chrysler. the united auto workers take care of the health care trust. minority owners in chrysler, big investments in general motors in their financing arm. the $84 billion that they tied up in to the auto industry. host: are you seeing an uptick in auto production in detroit? more optimism there right now? guest: yes, there is. remember, the industry and the figures coming out from the obama administration today, the industry lost 344,000 jobs coming up to last year's crisis. since then 55,000 auto jobs have been created, and a part of that is even though the economy is still pretty weak and the job market is pretty bad, it is better than it was last year. we were on pace to sell last year 10 million to 11 million cars. depending on who you talk to, it could be a 12 million vehicle market this year, historically not great

presidenobama advice its chrysler plant and they have good news about the economic progress. plus congress passes legislation following a deadly commuter airline crash lastear. >>> president obama says cries lower's plan to add 1100 jobs is vindication to bailout the auto industry. company announced they will add a second shift at one of its production plants. federal government provided chrysler and gm about $80 billion last year. >> today it's going strong and creating new jobs. manufacturing th fuel efficient cars and trucks that will carry us forwar in an energy independt future. you shall prong the naysayers wrong, all of you. >>> the president's visit is part of an intensive cpaign to seize on the positive new trends in the auto industry as evidence of broader economic recovery takes hold. white house estimates that detroit could add 11,000 new jobs before the end of the year. >> a bill that orders major safety changes to the airline industry is headed to president obama's desk. the senate approved the measure that came in response to deadl commuter airline crash near b

and you are going to visit a gm plan and you will visit a chrysler plan. people will be stunned to know that both of those companies are turning a profit. they are hiring new workers. does it surprise even you? >> look, think think there is no doubt the team that worked on auto restructuring here at the white house did surprise where gm and chrysler are. the big three all reported a profit for the first time since 2004. and these companies are hiring again. the auto industry is hiring in for the first time since 1999. there's no doubt it is a success story. we have a ways to go. but there's no doubt that the investments that had to be made in the auto industry, the sacrifices and restructuring that have been made, have put the auto industry on a much better path towards sustain sustainability and those that are creating jobs again. >> those argue that the bailout never should have happened, declare bankruptcy, gone the way of whatever. the marketplace would have dictated it be restructure. >> harry, it is a simple thing to say. but the question is how do y

the federal government provided chrysler and gm about $80 billion last year. the president says the move saved two from bankruptcy and loss of more than a million jobs. >> today, this industry is growing stronger creating jobs and manufacturing the fuel efficient cars and truck that's will carry us towards an energy independent future. you're proving the nay sayers wrong. >> part of the administration campaign to capitalize on the auto industry as evidence of broader recovery. >> and there is a way to keep seven private development centers through august. the preschools were going to close today, they lost funding because of the state budget crisis. the school board to keep the program running through summer. it's serving 700 children. >> calcium supplements many women take may contribute to a bigger health problem. a study from university of auckland found women who took calcium were 31% more likely to have a heart attack. the consummation from dairy products not linked to an increase in heart attacks. the researchers speculates the supplements may elevate ca

president obama advice its chrysler plant and they have good news about the economic progress. plus congress passes legislation following a deadly commuter airline crash last year. thinks. with high speed internet from at&t, i get my homework done fast, leaving me time to download movies and music ter, play more with our fastest internet speed ever... with speeds of up to 24 megs. or call now to get great deals on other high speed plans starting at $19.95 a month. please, i know what he's up to. cñhigh speed internet from at&t is so fast that we get more done in less time leaving me time to chat... watch movies... without teenage distractions. and it's affordable for our family. [ female announcer ] so choe cñe speecñd you need up to 24 megs. or call now to get other high-speed plans starting at $19.95 a month. plus get access to at&t's entire national wi-fi network on the go. cookies? boy: sure! tell your friends hi for me. ♪ ♪ [ female announcer ] high speed internet from at&t. >> closed captioning brought to you by mancini sleepworld. >>> president obama says cries lower's p

and for those seven companies, aig, citigroup, bank of america, chrysler, chrysler financial, gm and gmac, congress said, treasury, feinberg, set the pay of the top 100 officials in each of those seven companies until they repay the taxpayer. once they repay the taxpayer, they are out from under your thumb. so in 2009 i at the request of the secretary, i determined and calculated the actual dollars for each of the top 25 officials in those companies, and we established a regiment of pay for -- regimen of pay for individuals 26-100 in each of those seven companies and only those seven companies. i did that in 2009. citigroup and bank of america, for reasons you can ask them -- one being to get out from under my thumb -- borrowed money from the taxpayers to get out from under my jurisdiction, and they did. so in 2010 there were five companies. chrysler financial which is in runoff, they're out from under my thumb. so today as we heat here this morning, there are only four companies left. but as to those four companies, until they repay the taxpayer their pay will be established by a tr

purchased most of the bankrupt chrysler l.l.c. assets forming chrysler group l.l.c. taxpayer aid made the reorganizations possible. not bad enough to put tens of thousands of people out of business, and take millions and millions of dollars without due process, we also took taxpayer money. this administration and this majority let it happen. dealer complaints about closure prompted lawmakers, including senator jay rockefeller a west virginia democrat to ask barofsky to investigate. quote, there is substantial confusion, even among dealers themselves, as to how g.m. and chrysler selected dealerships for closure, said jay rock fell for the a letter to barofsky. the report found that chrysler followed the criteria for targeting dealers for termination. g.m. was inconsistent and retained more than 1,300 dealers that would have been shut based on sales, consumer satisfaction and profitability, according to the report. the fact that treasury was acting in part as an investor to g.m. and chrysler does not insulate them from the broader responsibility. treasury should have t

the closures were a condition of the $81 billion bailout of gm and chrysler. the move was designed to make the two companies more profitable. but a report to be released tomorrow by the inspector general says the treasury neglected to protect the broader economy when it said they would gradually close had dealerships. the obama administration says the plan has saved 1 million jobs and paved the way for both companies to thrive. >>> tomorrow morning carpool commuters on the the -- on the golden gate bridge will need a fast track account to get the discounted $3 toll. those with cash will be charged the full $6. carpool commuters will still have to drive through an attendant lane so the toll taker can verify the amount of people. those with fast track will still be charged $5. >> it looks like it will be a murky, overcast ride on the bridge. >> that's right. we are seeing clear skies, but a little fuzzy sky over san francisco. the low clouds and fog are starting to move in. a nice shot from the sutro cam and looking down toward the avenues there. you can see jus

gm and chrysler received a total of $60 billion from the federal government. the white house warned that over 1 million jobs would have been lost without the bailout. 55,000 new auto workers have been hired since, though the industry did lose over 330,000 jobs between june of 2008 and june of 2009. back to you. >> thank you very much, courtney. >>> las vegas attracts millions of tourists every year, many of them from northern california, but many are making a stop in a most unlikely part of town to see the city's newest stars, the pond stars. chuck henry from our l.a. station takes the tour. >> reporter: bright lights, big city las vegas, the gambling capital of the world, but the hottest, newest tour tourist attraction in sin city is not a posh hotel or a hip nightclub or even a sold out vegas show. this building is the most popular and the most unexpected tourist attraction in las vegas. >> take you around the pawnshop and give you a tour. >> reporter: yes, a pawnshop, but this is not just any paup shop. four of the most unlikely tv stars own and run this pl

a year ago chrysler and gm were bankrupt. their only saviour an $85 billion taxpayer bailout. >> the fact that we are standing in this magnificent factory today is a testament to the decisions we made and the sacrifices that you and countless stakeholders across this industry and this country were willing to make. >> reporter: in the leadup to the midterm elections, the white house is mounting an aggressive defense of the president's economic policies. but for critics, the auto bailout was and still is a bad idea. >> it will be difficult for the administration to get all the taxpayers' money back. the future is still unclear for chrysler and general motors. >> reporter: the white house points to the one million jobs saved by the auto bailout but acknowledges that tens of thousands of auto manufacturing jobs that were lost in the recession and aren't coming back. with unemployment still hovering near 10%, the president's trip to detroit gives him exactly the image he wanted cheered by american workers, happy he saved their job

the chrysler voted july 5th to close station no. 25 and station no. 26 on fulton avenue. firefighters from those stations will be reassigned. fire officials say the equipment will be moved to other stations for the time being. >> we're going to maintain the stations, hopefully that things are going to get better. i mean, you would think we're at the bottom now. so hopefully, it will get better and we can move equipment back into the stations and open them back up. >> 15 firefighters will now be on duty down from 18. fire officials say the vallejo fire department responded to more than 12,000 calls last year. >>> sebastopol could be the at a later bay area city to ban people from smoking in their home. the council tuesday will consider expanding it's laws to include smoking of all residents of multiunit celling? led includes smoking medical marijuana. sebastopol joins belmont, which passed similar restrictions three years ago. under the proposed ordinance, new apartment renter would be prohibited from smoking inside the unit and all others would have 14 months to quit smok

an indiana plant will be built in what is now and the chrysler factory. when fully operational, they will produce millions of state of the art solar panels each year. these are just two of the many clean energy investments in the recovery act. already, i have seen the payoff of these investments. i have seen factories humming with workers for building solar panels and wind turbines. that is somewhat we're doing. the truth is, steps like these will not replace all of the jobs we have lost overnight. i know people are struggling. i know this for the july weekend finds many americans wishing things were a bit easier right now. so why. what we're reminded of is that we're a nation that is always risen -- that has always risen to the challenges in front of us. we are a nation that turns times of trial to times of triumph. i wish every american as safe and happy fourth of july. to all of our troops serving in harm's way, i want you to know you have the support of a grateful nation and a proud commander in chief. thank you, god bless you, and god bless the unite

and for those seven companies, aig, citigroup, bank of america, chrysler, chrysler financial, gm and gmac, congress said, treasury, feinbe, set the pay of the top 100 officials in each ofhose seven companies until they repay the taxpayer. once they repay the taxpayer, they are out from under your thumb. so in 2009 i at the request of th secretary, i determined and calculated the actual dollars for each of th top 25 officials those companies, and we established a regiment of pay for -- regimen of pay for individuals 26-100 in each of those seven companies and only those seven companies. i did that in 2009. citigroup and bank ofmerica, for reasons you can ask them -- one being to get out from under my thumb -- borrowed money from the taxpayers to get out from under my jurisdiction, and they did. so in 2010 there were five companies. chrysler financial which is in runoff, they're out from under my thum so today as we heat here this morning, there are on four companies left. but as to those four companies, unti they repay the taxpayer their pay will be established by a treasury official.

he will be addressing employees at a chrysler assembly plant. the president is expected to talk about the successes of the auto bailout and we just heard that chrysler announced it will add almost 900 jobs early next year at a factory in suburban detroit that makes mid-size cars. >>> time is 8:46. >>> it's a somber anniversary for three uc berkeley graduates that sit in captivity in teheran wondering when they will be coming home on july 21st last year, they were taken in to custody by police. despite ongoing efforts over the last 12 months. today they remain locked in prison accused of spying. jennifer miller is a long time friend and is live in the studio. thank you coming in. i imagine you never thought you would be here one year later talking about your friends still being in captivity. >> definitely not. we understand that our friends did nothing wrong. in fact there have been recent news reports that shown they were captured on the iraq kurdistan side of the border and that was recently published. and we figured they would be detained, fig

also down 30% from last year, you don't get a break anymore. >>> president obama is visiting the chrysler and general motors plants to defend the massive auto bailout funded by taxpayer dollars. he is going to be taking off in moments. the government has invested $85 billion in the auto industry. >>> time 6:38,ment with to check in with scott a look at the market he is. things kind of going the other way after nice gains earlier in the week. >> yeah, they had. dow industrials down 84 points. good morning. nasdaq down 24. what we're seeing is we just got the latest ddp numbers, gross domestic product, showing the american economy growing by 2.4% in the latest quarter measured. that is abysmal. that is far less than economists hoped. chevron, by the way in san roman, posting $53 billion in profit the last quarter, far better than expected. >>> hey, do you remember when apple had the press conference to explain the problems with the iphone four? steve jobs used a bad word in the press conference, he called a magazine about the problem bull and he didn't just say bull. what is that like to he

dead-end block is where two people had been lord in the past couple of weeks responding to fit chrysler's ads for cars for sale when they get here they are attacked in their money is stolen. one victim of 59 year-old man from concord was attacked outside this home. him and his stepson had $2,100 taken from them and the man was badly injured and taken to the hospital. the woman inside this home heard everything and came to help. >> i submit a car for sale we said no he went off and two minutes later we heard a lot of noise and screaming in one note of this gentleman was on the street with his head leading. >> the latest victim was attacked monday night at 23 year-old man from san francisco said he was given a fake address on neptune's court when i got out of his car to call the number in the ad a man jumped out from behind the bushes and rob him at gunpoint of $2,000. reporting in vallejo kate thompson kron 4 news. >> the fog a little less extensive out there this afternoon a look from the golden gate bridge attached is see the bridge this afternoon. sunny skies here were still sing fog cl

auto bailout got blamed today for adding to unemployment even if it was to save jobs at the gm and chrysler plant. under pressure from the white house the carmakers eliminated more than 2,000 dealerships and unto 100,000 local jobs, unnecessarily, says tin specihe inspector general. >>> you don't make a decision like this unless you're sure. >> reporter: everyone is sure the jobless recovery is issue number one. >> as long as the unemployment rate is not coming down substantially the american people are going to be in a bad mood. >> reporter: the president is hoping to aim some anger at republicans. >> this is supposed to get better tomorrow after the new vooimplt democratic senator gets sworn in. lisa? >> thanks a lot. >>> still ahead at 5:00, what do sarah palin and shakespeare have in common? the twitter post that had palin comparing herself to the famous play wright. >>> and a breakthrough in the fight of aids. the gel that could effect the infection. >>> the discover rir that could change bp's response. >>> and the new numbers on whooping cough that has health officials urging certain

a report says the treasury department failed to consider the job losses from general motors and chryslerwning the dealerships. however, the treasury says its actions avoided a potentially catastrophic collapse. >>> and ford is looking to revive suv sales with a new fuel-efficient explorer. t"the wall street journal" is revealing that unvill unveil a vehicle later this month. it made the vehicle significantly lighter and a smaller engine. gas prices are soared a few years ago. >>> at the movies a dream opening weekend for the latest leonardo dicaprio movie. "inception." the movie is about a dream that sneaks into people's dreams. "despicable me" opened second. >> when we come back on this monday, the latest on zsa zsa gabor, she's having major surgery to >>> and the golf season's major championship goes to a south african on a very significant day fo e'll be >>> a state of emergency has been declared in eastern kentucky after flash flooding killed at least two people over the weekend. >> one woman died when she was swept away by high waters. the other victim was leaning off a bridge and t

. >>> and in detroit, president obama pays a visit to the chrysler and gm auto plants where he will talk up jobs and both automakers' repayment of billions in federal bailout funds. >> and miss iowa throws out the first pitch at the washington nationals game. earlier this week a player joked about miss iowa. tonight she is showing there are no hard feelings. >>> all day long you can stay on top of the very latest developments in those stories as well as others as they break on msnbc. and tonight be sure to watch brian williams with "nbc nightly news." >>> and, finally, here's a look at what's coming up later this morning on the "today" show. a "today" exclusive. meet the couple who survived a bear attack at a campground near yellowstone national park. >>> and live on the plaza, "american idol" champ and five-time grammy winner carrie underwood. she takes the stage on "today." all right. >>> and now keep it on this channel for continuing local news, weather, sports, and so much more. i'm veronica de la cruz. thanks for watching "early today," just your first stop of the day, today on your

chrysler and gm making plans that both companies survived the recession. >>> for some of you, local newsnext. i'll take these. no matter what we're buying. plus the damages. and since double miles add up quick, we can bring the whole gang. it's hard to beat double miles. no, we ride them! [ male announcer ] introducing the venture card from capital one, with double miles on every purchase every day. go to capitalone.com. what's in your wallet? oh, that's the spot! for the first time, discover exotic fragrances... and rich moisture from aveeno, the naturals brand dermatologists trust most. introducing positively nourishing moisturizers. with active naturals, they're clinically tested... to lock in moisture for 24 hours. now, skin can be soft and beautifully fragrant. that's the best of both worlds. new positively nourishing. and expshes, too.r enticing body washes, too. only from aveeno. that's the beauty of nature and science. >>> next at 4:30. breaking news after an armed man walked into children's hospital oakland and grabs an employee. plus, for the first time in the history san jose

and chrysler at two campaign-style rallies in michigan today. the president said letting the auto industry fail would have cost up to a million jobs, spreading pain across the country. taxpayers are still expected to lose more than $24 billion on the government's investments, but the president pointed to recent industry profits and 55,000 new auto industry jobs as evidence he made the right call. >> so today, this industry is growing stronger. it's creating new jobs. it's manufacturing the fuel- efficient cars and trucks that will carry us to an energy independent future. you are proving the naysayers wrong, all of you. >> susie: next month, g.m. is expected to file for a new initial public offering of stock, a little more than a year after it emerged from bankruptcy. >> tom: late today, the house of representatives voted to end the federal moratorium on deepwater drilling as long as oil companies meet new safety requirements. the move is an amendment to a broader energy bill working its way through the house. the six-month moratorium was put in

the closures were the bailout of gm and chrysler.ut a report being released by the special inspector for the tarp fund says the treasury neglected to protect the broader economy to gradually close the dealerships. obama administration at the it saved million jobs and paved the way for companies to thrive. >> people made the 24th annual aids walk a huge success. >> an estimated 45,000 walkers raised 3 amendment. the money will go to bay area organizations for prevention and testing and service. 6.2 mile walk begin and ended in golden gate park. >> well done. way to go. >> let's take a look at the forecast and that gorgeous picture you saw fog rolling in. >> we're going to see that another live shot nice from mount tam. and we have been looking at the fog day to day but still sunny beach weather still on the cool side but finally marine layer will be making its way inland to begin a slight cooling trend today. right now, we do have 49 degrees in santa rosa. definitely cool start. couple degrees cooler except for antioch, 65 for you. go

president barack obama in detroit this morning during a chrysler plant. billion to bailout year ago the president credits the bailout to help turn around the economy. >> we were in the mets' when i took office of the de deep and painful recession that cost our economy about 8 million got jobs. 8 million jobs. took a terrible toll on communities like this one. our economy was shrinking 6 per cent per quarter. we learn this morning it grew by 2.4% in the second quarter of the year. that means it is now been growing again for one full year. (applause) it is grown again instead of shrinking. that is a welcome sign compared to where we were. we have to keep increasing the rate of growth keep adding jobs so we can move forward. that is the special import for places like >> this> the president will also visit gm today. when will be back with more spill in a moment. a couple of big stories southern california a wildfire after getting aid from all of southern california a wildfire after getting aid from all of [ female announcer ] jobs leaving. a budget disaster.

the bush administration gave the bu n, nothan $25 billion, no strings attached, to bailout gm and chrysler. and and nobody expects that money to torepaid. st they have already started repaying some of the $60 billion from the obama administration's administration's x payerstreasury department says backyers will get back every penny of that money, eventually. t the gm plant today, the president took a little drive in a soon to be released $41,000 .hevy volt. t?d why not? he is, after all, the company's eholder.shareholder. t is at is a dirty word these ays, but this is one bailout the white house makes no nologies for. ,n fact, next week, the president will visit yet another uto plant, and diane, take credit for more jobs, he says, jobs, hve been saved. you, ank you, jon. auto while the auto companies nginebecome an unlikely engine we know the rests we know, the est of the country is lagging, thata new number out today howed that. it shows the overall vitality of the economy. tic productomestic product h, but growth, but not rebuffed. rebuffedd muir spent the day, asking, when will there be

in the past two weeks to people have responded to fake chrysler ads for cars for sale. they have been attacked and robbed. both times the men rarely aired here to neptune's court. not only is this a dead and court. but both streets on either side of this court are dead ends. so it is very quiet and you can see there is not a lot of traffic. and also on this neighborhood there's a lot of homes that are empty or foreclosed. this home up right here is in front of where they attack has happened. a 59 year-old and his son were given the address of this home. this home does not have a car for sale when they knocked on the door in the home owner dances the door and said that they were mistaken. when they left the home and stepped outside they're attacked by two men. >> he asked if get a car for sale when we said no he when often we heard a lot of noise and screaming. we went out and he was on the street with his head bleeding. >> the latest gentleman was attacked on monday night. a 23 year-old man said he was given a fake address. when he got out of this carter called the man

ford, g.m., and chrysler did it by updating popular models and scrapping poor sellers.ere in new york, construction workers at the world trade center site have uncovered a piece of history: a wooden ship from the 1700s. archaeologists believe it was buried in a landfill more than 200 years ago. they're busy trying to study and document it before exposure to air and sunlight causes the delicate wood to crumble. and another long-forgotten piece of history has surfaced. a 1914 film called "a thief catcher" in which charlie chaplin makes a cameo as a keystone cop, displaying the mustache and mannerisms of his famous "tramp" character. the film turned up at an antique sale and at this saturday a virginia film festival will show in the public for the first time in perhaps a century. to baseball history now. the u.s. postal service honored the negro leagues today with a pair of stamps. the leagues were formed because black players were barred from playing on white teams. foster was one of their biggest stars. he once won 54 games in a season and went on to found the negro nati

it builds the volga model is in talks with di miller of the failing to reach a similar deal with chrysler and in just tart up a talk center on the price of gas will get four assembling a car. and sells of luxury cars in russia jumped by more than a third in the first half of this year bentley and lamborghini other best sellers in moscow almost doubling their sales despite the italian sports car losing ground globally in contrast aston martin managed to sell just one car more than a year before. russia's largest producer of could touch or a collie as ambitious plans to fertilize the world the company's co owner of the billionaire three a man karim of has plans to combine with his belorussian rival is offering seven point five billion dollars for a fifty one percent stake in bell over harley or will carly is already in talks with russian rival sylvie meter. not sure update for now my colleague stephanie monday will be here next hour to take you through the business for the rest of the day in the meantime you can always find more stories on our website r.t. dot com slash business. state has

space the a president barack obama he is coming to airforce one to talk to workers there at the chryslerded jefferson at the assembly plant to that is in detroit. he's talking about success in the auto industry bailout plan last year and a lot of the big three are coming back strong. >> the contract between ac transit driver has to court today, the drivers union is asking a judge to overturn the new contract that ac transit imposed after contract associations broke down. ever since then we're noticing that the drivers have been calling in sick over 100 drivers, sometimes 200 a day, that since the contract was imposed and is thrown a wrench in the plans. trans workers are speaking ill and here is one driver who did not want to be identified and will his son to live is what he wanted to say. >> i've been here for 11 years and the entire 11 years i've never been mistreated. i'm not the one has this opinion. all 7250 people have this opinion. what they're doing to some of our drivers that come and at 11 or 12 midnight. sometimes we do not get off because there is nobody to leave us. we are o

president obama says recent gain business auto makers vindicate the bailout of general motors and chryslerre is he drove the chevy volt down an assembly line and stopped by a plant adding 1100 new jobs. saying a surge in ought yes sales is proof efforts to revive the economy are working and claimed it saved them from a loss of more than a million job autos senator boxer is talking up benefits of spending today in a job training center. and there is mark matthews there as senator talked about training for jobs of the future. mark? >> boxer talking about green tech jobs saying california is the hub of clean energy economy for country. senator boxer watched as students practiced installing devices and told them they're training for the jobs of the future. >> if we make sure not to go backwards we'll see these workers here putting roofs on schools and office buildings and homes. >> this received from a grant. students are confident training will pay off. >> i think there will be jobs out there. and this is is going to be world wide. miles away at numy career transition center auto workers from

the president marked the university of the government take over of gm and chrysler but touring an autolant of my which michigan. he says 1 million jobs have been created because of the bail out. >> today this industry is growing stronger. it's creating new jobs. it's manufacturing the fuel efficient cars and trucks that will carry us toward an energy independent future. >> government doesn't produce jobs, private industry does and we have to keep a separation there. >> the constitutional amendment is a long shot. 2/three of congress and 3/4 of all states would have to approve it. >>> president obama is expected to sign a bill passed by the senate expected to make flying safer. the bill toughens airline safety. >>> the fda is looking into whether chicken injected with water and salt can be labeled natural. 1/3 of chicken sold is injected with ingredients that can be 1/3 of the meat's weight. a ruling by the agriculture department is expected sometime in the fall. >>> two more cases of dange fever have been reported in florida. health officials say it's too early whether the disease will

regarding general motors and chrysler, any way that you slice that, they were going to lose staff and dealerships. they had lost so much market share in the car business. foreign car companies operating in the united states, be at honda, toyota, bmw, mercedes- benz, we have not done a very good job. perhaps they could be restructured now. there was no way around the fact that they were going to lose jobs. if that is what this debate is about, i guess it is a certain inevitability. i wish that the government had not taken them over. host: let's take a look at comments made last week by christina roemer. she is talking before the joint economic commission. guest: in our report we estimate the impact in two ways. the first is a model-based approach. this approach uses multiplier estimates based on historical records to estimate how the recovery act likely translate into employment. the second approach that we used to estimate the act depends not on policy multipliers estimated from past history, instead uses statistical procedures to project the likely path of employment based on informa

. >> a government watch dog is criticizing the treasurey department's handling of gm and chrysler last year saying led to the loss of tens of thousands of jobs. they urged the makers to close about 2800 dealerships last year. the criticism from the special inspector general for the troubled asset relief program. his report said the decision may have contributed to the closing of thousands of small companies that do business with the automakers. the report also said treasurey didn't do enough to make sure that speeding up the closings what necessary for the company's long term health. >> the obama administration releasing new details on the scheduled pull out of troops afghanistan. also details on a key visit to pakistan by hillary clinton. >> peace talks today in egypt. >> and the new 787 dream liner lands in britain after it's first international flight. . >>> joe biden said the obama administration is standing firm on its decision to start pulling troops out of afghanistan next july. >> we still believe that the policy that the military signed onto put together initially signed onto

treasure to impact husband of thousands of job losses when it pushes gm and chrysler to close last year. the move was kind to make the two companies important profitable. the report for the tarp fund says the treasury neglected to protect the broader economy. obama administration says the plan has saved million jobs. >> stocks were up modestly. investors are looking for bargains after 251 plunge on friday spurred by bank earnings report. with more financial news. >> good morning. we begin money scope report with the economic recovery. a survey of economists released this morning find the recovery continued during the second quarter but the pace of growth has slowed. one encouraging sign is hiring. 31% of businesses said they added workers. 39% of companies expect to hire more workers over the next six months. >> ford is bet that go people will buy a big suv with better fuel economy. wall street journal reports that the automaker will unveil one later this month that will get 21% better gas mileage. >>> the highly anticipated 787 dream liner has finally made an international debut. the f

he's also going to go to a chrysler factory where they are adding a second shift and they've created0 new jobs. so this is president obama really making that push between now and the election to say, look, our policies worked, keep us in office. >> you know, karen, we all watched this sort of in slow motion at times it felt, between the bankruptcies and the management changes. a lot of people questioning, did this plan really work? and will the government get any of the money that we've put into these companies back? >> analysts say that it in fact did work. there is not much disagreement about whether or not the bailout actually was able to pull the auto industry back fm now, of courss wi illay hhuld e, thyer should not en u liberally as it was last year. but it's really interesting, if you look at the sti the leadup to the brupt and chrysler, auto industry in general, lost over 300,000 jobs. since then it's added 50,000 jobs. the white house is saying, look, there are tangible results, they are creating jobs, this worked. as for getting back that $80 billion of taxpayer money, said

president obama is headed to michigan today where he will visit general motors and chrysler, he is going to the plants. the white house is making a push for the auto bailout to be seen as a success. the white house warned that over 1 million jobs would have been lost without the bailout. 55,000 new auto workers have been hired since, though the industry did lose over 330,000 jobs between june of 2008 and june of 2009. >> they are serious about their manufacturing agenda why would we want to raise taxes on manufacturers when we want their jobs to remain in america? they don't get it, pure and simple. >> the government has invested $85 billion in the auto industry. >>> the senate will vote on a bill to make airlines' flights safer. it was drafted in response to last year's crash in buffalo that killed 49 people on the plane and one man in a house. pilots would have to have more flight experience and airlines would have to do better background checks. rules that regulate pilot work schedules to prevent fatigue would also have to be overhauled. pilot performance contributed to four of the la

the success of america's other auto industry has prompted labor unions representing workers at chryslereneral motors to agree to dramatic changes over recent years, to save jobs of the big three. >> union and nonunion pay rates now, and benefits for that matter, tend to be almost identical. >> reporter: economic development consultant says nonunion shops continue to provide employers with the advantage of management prerogative, the ability to quickly reassign workers to different tasks to adapt to market trends. >> the united auto workers, though, has provided greater management flexibility in their plans than was once the case. they tended to have at one time very complex job classifications systems. >> reporter: foreign automakers downplayed the influence right to work laws had on their decisions to build plants in the south. >> they never played a rule, because we stick to the regulations. the people will decide by themselves about their presentation. >> when you look at ports and transportation, the south became a natural place for us to be and that's why we're here. >> reporter: f

general motors and chrysler were private companies taken over by the federal government and the president of the united states fired the c.e.o. of general motors and approved the replacement hire and hery placed all but -- and he fired and replaced all about two of the board members of general motors. he ordered the elimination of 3,400 car dealerships. why? because his car czar and his people in the white house had some offbalance idea that if you eliminate dealerships you can sell more cars. now, you know, i come to this office with, i think, maybe a gift of the commonsense that -- common sense that comes from the midwest and i'm sure it exists in all of the rest of the country, too, but here's what we know where i come from. if you want to manufacture widget, especially if you invent a widget, but if you want to manufacture them, let's say you go in your little shop and you create and manufacture a wind chill et and you decide, i can make these things pretty good and i can mass produce them even. so now i want to sell them. what would you do? simple. you go to the county fares, you go

a special inspector general says chrysler and general motors were encouraged to quickly close almost0 auto dealerships while under bankruptcy protection. the report says that decision may have contributed to the loss of thousands of jobs in small companies that did business with the automakers. >> right now 5:19. there is alarming new information put the safety of some of our schools. up next we are going to tell you what has been neglected and how that could effect local children. >> also people laced up their shoes for the new walk. coming up their new reason to believe they are really helping to make a difference. >> good morning. southbound 680 traffic moving well heading to the south bay. we will tell you more coming up. they used to spend hours on the couch, watching t.v., playing video games. and with all you hear about childhood obesity, i was concerned. now i take a more active role in their health like insisting on lots of play time and making sure they eat right. like when i make burgers i use lean jennie-o ground turkey. i'm proud i got them off the couch. well, sort of.

g.m., ford, chrysler and toyota reported drops of 12% to 14% from may. nissan was off 23%. the u.s. senate paid final respects today to the late robert byrd. the west virginia democrat died monday after 51 years in the senate-- the longest tenure ever. a military honor guard carried his casket up the capitol steps today, past the senator's portrait and into the senate chamber. he lay in repose for six hours-- the first time that has been done since 1959. later, the remains were flown to charleston, west virginia for a memorial service tomorrow. once the ceremonies for senator byrd were over, confirmation hearings resumed for supreme court nominee elena kagan. this time, democrats and republicans called witnesses to make the case for and against kagan. one was lily ledbetter, who lost a high-profile decision on gender bias in pay. congress later changed the law to address her grievance. >> one thing i've heard in observing and watching the hearings of all of elena kagan's responses have been that she would adhere and follow the law, not make the law. she understand what is her respon

and this is the bankruptcy of general motors and chrysler, the federal government using the tarp essentially did something akin to nonbank regulation lewis, the ability to -- resolution. the ability to take over a company. the money went into the auto companies and out to the united auto workers. and that's probably not what people had in mind with the tarp. >> lynn stout, what else is there in this law that gives you pause? >> well, the treatment of derivatives i think was really critical part of the law that not many people understand. but it's absolutely essential, because essentially the creation of a derivatives market took what would have been a kind of relatively confined consumer finance crisis and magnified it many times into a huge speculative bubble. and the bill originally when it came out of the senate agriculture committee was quite strong and looked like it was going to reign in the derivatives market, the version that president obama has signed seems to address the problem by having a requirement that derivatives be traded on clearing houses and exchanges because when they ar

of sympathy when we were voting on this because they were unfairly treated by general motors and chrysler in that consolidation and that gave them some momentum. >> charlie: what are the consequences for the rating agencies in this financial reform. >> first of all a lot less business to be honest. one of the things in the law that were mistakes were requirements that you couldn't buy a certain thing if you were a pension fund, you couldn't sell a certain security unless you got a certain high rating. we had people putting much too much attention, much too much emphasis on the rating agency. we repealed all the rules that say you've got to rely on the rating agencies which means we want people to do their own due diligence. we also have said for the first time if you bought a security with a certain high rating, you can now sue the rating agency because that rating was too high. previously until this, until the president signs this bill, the only people through the rating agency effectively are the people whose paper was rated. so you only get them sooner as if they were rated high enough