so, they don't want to pay too much for the chrysler stake.lain before we get too complex here. sergio marchionne, famous head of fiat he wants to take the company private because under the current terms, because of what we went through with the bailout and everything he is not allowed to feed all these losses that fiat has over in europe with the profits that chrysler has here in the united states. but if he took chrysler private, he would be able to do that. he could balance accounts better, right? >> not immediitely. there is still some covenants in place with the chrysler debt that prohibits cash flowing from north america back to europe. david: that's interesting. >> european, you know, the european side of the business, fiat, has many other assets that are still generating cash that offset the losses that are going on in europe right now. and as far as we're concerned, this is a very deeply-discounted stock and for investors who don't mind taking on the risk of a turn around situation, with a leveraged balance sheet, we think that this i

you ran chrysler. what do you think of a potential chrysler ipo?ere have done a fabulous job. i think the portfolio of products, the 300, the new grand cherokee, challenger, charger, i think that, they have got tremendous momentum. they gained share. the volume is back. i hope they hit it out of the park on ipo. liz: so this is something that you feel is appropriate in sort of the natural progress of this company, fighting to come back and be strong? >> if i was still there i would be right behind this, you know, pushing as hard as i can to get the appropriate value for the men and women that have done such a fantastic job, made tremendous sacrifice, liz. ron gettelfinger who is a dear friend of mine, ran the uaw. liz: did you guys hear that? the head of chrysler got along with ron gettelfinger of uaw. so unions can work with a company. >> absolutely. ron stood tall. he understood the situation we were in. he made some tough decisions, worked with all of his associates, you know, in the uaw. i think we forge ad great alliance and we turned over a c

. >> news on chrysler here. as expected, chrysler has filed for an ipo. we do know that it is 16.6% of the outstanding shares of the company. that is the trust that is owned by the uaw, supplying or will be funding health care benefits in the future for uaw employees and retirees. we are still waiting to find out the specifics on this. chrysler has filed for an ipo. most we are estimating will be about a billion dollars but we will get those details momentarily and we will let you know. >> we will look forward to the details. demand for automaker shares are high. will it pull away money away from the general motors? >> that was my first thought when i heard this. >> i would say a billion dollars is nokt, actually. i would think that is a min mouse amount. >> the trend all along has been downstream. delphi automotive, look at what that stock has done. those are the places you want to be. >> i actually agree with your first premise. people get excited about ipos especially now with auto sales being what they were. they are willing to take a risk on somethin

marchionne and chrysler as a whole.ares of fiat which are down more than 20% if you go back to the time when they actually bought chrysler, the key thing to keep in mind is, there's a negotiation that's going on, tyler, between mr. marchionne and fiat, and ultimately they're trying to figure out a pras for fiat to buy veba. this ipo pricing could be part of figuring out that valuation. >> phil, thank you very much, keeping his eye on that story for us. >>> time now for "the power rundown." first up, a new census study finds that america's economic gap is widening with the poor getting poorer, even as the rich get richer. what, guys, is driving that split? robert? >> you know, stan druckenmiller this morning saying what's driving that split in part is the fed. he said he bernanke and the fed is behind the largest redistribution of wealth from the middle class and poor to the wealthy ever. and if you look at this -- let's accept that the fed does drive stock prices higher. the top 10% of the wealthy own more than 80% of t

he wants to buy the 41% of chrysler that's owned by a union trust which provides health care for chrysler the trust and fiat can't agree on a price. so the trust is forcing this ipo as a way to put a value on its steak. stay tuned for more on this story. >>> if you account for inflation, a middle class american family was making slightly more money in 1989 than the $51,000 the same family made a year ago. one factor for the squeeze is how companies are rewarding workers. more of us are getting bonuses instead of getting pay increases. >> reporter: maggie works at a chicago based floral company. he is doing so well, that her boss gave her a golden star and a cash bonus. >> it's nice to receive extra recognition and cash for it. >> reporter: she is part of an expandi expanding wave of bo bone -- workers eligible for bonuses. >> employers are giving out bonuses because they are avoiding giving out wage increases that they can re lie on year after year. >> reporter: wages have fallen for the middle class even though productivity for companies grew. the extra profit went to shareholders and th

. >> and chrysler group reluctantly preparing for an ipo. but first, shares of facebook are poised to open at new all-time highs, boost being its price target to $55 a share from 38. they see facebook continuing to boost -- the total is "even up here it is socially acceptable" and they talk about even potentially being added to the s&p by year end, jim. >> look, this is one of those this evenin things, when i talked to bob iger at disney, everyone is talking about this term in the future, it's the way to get the demographic. my trust does own it, we own it for almost a double now and not selling. why not selling? because this is tv of the future. >> explain that. >> okay, because -- you read all these articles about people, a big production companies, the cbss, viacoms are all searching for a way to reach younger people, a lot of advertisers searching for a way, another channel, a second way to get people. what people didn't realize is that mobile is pretty much going maybe 80% a year from now. >> wow. >> and there's a solution on mobile for

. >>> chrysler may be going public. the majority owner of chrysler motors told "the financial times" they're ready to file paperwork as soon as this week to begin selling stock to the public once again. there's a bust a holdup though, talks between them and a health care trust that owns 41% of chrysler had at an impasse over how much that stake is worth. >>> well, you may recall that chrysler was one of several big companies bailed out by the government during the depths of the financial crisis, today, president obama marked the fifth anniversary of the collapse of lehman brothers and the apex of the crisis by touting how much safer the u.s. economy is right now. the president says his administration has laid a, quote, new foundation for a stronger economy, but gave much of the credit for the recovery to ordinary americans. >> all of this happened because ultimately of the resilience and the grit of the american people and we should be proud of that and on this five-year anniversary we should take note of how far we've

chrysler, also says that fiat could end the partnership with chrysler if this ipo is unsuccessful or in the future the company deems it needs to pursue other options. fiat needs chrysler because it needs that cash flow to expand its very weak in asia and at the end of the day that's why it wants to buy the 41% owned by veba. back to you. >> nicely explained. thank you, phil. >> snap on tools having a good year. the shares up almost 30% so far this year. its ceo joins us to get his outlook for the company, the budget battle, economy overall and fallout from health care reform. lots to talk about when we come back on "power lunch." something you really love, what would you do?" ♪ [ woman ] i'd be a writer. [ man ] i'd be a baker. [ woman ] i wanna be a pie maker. [ man ] i wanna be a pilot. [ woman ] i'd be an architect. what if i told you someone could pay you and what if that person were you? ♪ when you think about it, isn't that what retirement should be, paying ourselves to do what we love? ♪ provider athena health, downgraded the stock from a market perform to outperform. while at

chrysler collapsed during the global financial crisis. it's been trying to rebuild its business under the umbrella of the italian company. profits are flowing again thanks to strong sales of its pickup trucks. >>> japanese diaper makers are producing production in china for high quality baby care products. japan's leading diaper maker will build its fifth factory in china by next march. it aims to increase sales there by 20%. sales in china made up 14% of the group's total in the business year through march. other makers of types and its materials are also expanding their production lines in china, despite concerns over souring relations with japan. >>> streets of china's capital, beijing, were once overwhelmed with millions of bicycles. today the problem is too many cars. the government has taken measures to try to reduce severe traffic congestion. they directly clash with the dreams of many city residents. >> reporter: every morning, liu leaves for work before 7:00 a.m. he doesn't start until 9:00. but the journey to the office takes ti

says even though the merger process may stall-- chrysler intends to file for intial public offeringd of the month.the united auto worker's trust holds a large stake in chrysler and wants to sell part of it through the ipo by the first quarter. when you think of rent-to-own, big-screen tvs and leather couches might come to mind. but what about tires? tire prices are at all-time highs. and consumers short on cash, are fueling this booming business. jackie keenan reports from florida. when it came time for rebecca kelson to replace the tires on her mustang, she couldn't afford to pay full price. but she found rent-a-roll to keep her ride rolling. she's been coming in every two weeks to pay her debt. i like the payment plans they have for you, it's pretty reasonable. kelson isn't the only one racing to rent n roll on payday. the rent-to-own industry's fastest growing segment is the tire and wheel business. here consumers rent or buy a new set of tires and make small weekly payments. if they take too long to pay it off, customers can end up paying twice as much for the tires. you definit

chrysler group may soon be headed to wall street. the automaker has filed to move forward with an initial public offering. the number of shares to be offered and the price range have not yet been determined. shares being sold will come from a worker's retirement trust that owns 41.5% of the company. the ipo still must abe proved by the securities and exchange commission. big changes for the big three auto make e. the -- automakers the last decade or so.

morgan, chrysler? >> pfizer, this is a safe habe. paying a dividend. >> david: emac, do you like the stock? >> revenue weakness because the key patent are expiring, like lipitor. watch out for that. >> david: they still have viagra. it not that i know about that. >> i like vanguard dividend growth. they are up 9% in the past five years. great managers, cheaply, who can manage the stock in and out. megacap stock. >> david: morgan, you li it? >> i really like it but if you want more criminalr flexibility, check out the vanguard eps. vdig. >> david: good advice. thank you. that is it for "forbes on fox." have a great number one business block continues with eric bolling and "cashin' in." ♪ ♪ >> eric: it's the makers versus the takers this labor day weekend. as we kick back and enjoy the first of our waiver, some are feasti on government hand nd-out. >> awesome.

chrysler just filed an ipo tonight. i think chrysler could be good, too, because i like ford. i like gm. and maybe there's something to like for chrysler. i'm going to go to tony in nevada. tony. >> caller: hey, jim. green energy. >> no. i see you with yingli and trump you with yuengling. sell, sell, sell. bruce in missouri. bruce. >> caller: hey, jim. five below. where might it go? >> oh, man. five below. that's secondary, time to buy. buy, buy, buy! i need to go to sal in new jersey. sal. >> caller: how are ya, jim? a big boo-yah to you from marlborough, new jersey. >> love marlborough. been there. been to the racetrack down there. what's up? >> caller: i'm calling to find out how you feel about micron. >> it's not done going higher. why? because capacity constrained in nand and d ram prices haven't fallen. tim in california. could be tim cook. tim. >> caller: cramer, i'm wondering about rig transocean. what do you think? >> okay. i do not like rig. i don't like that group anymore. >> sell, sell, sell. >> deep water does not have what we're looking for. and that, ladies and

when the president of chrysler, katie keller, was called and asked if chrysler could make tanks for the government, he said i don't see why not. what is the tank? so he and his engineers went to the rock island arsenal where there was an actual tank. they had never seen one. none of the engineers had ever seen a tank. they took the tank apart piece by piece. they made drawings from which they could do blueprints so they can have every piece because now we are talking mass production which i am coming to and left pieces for engineers again, then they went back and they made wooden copies of each one of those pieces so they could fit together a model because what they are trying to do with mass production is built machine tools that can turn these out in quantity and you've got to know what each of those pieces are and you literally end up with thousands of blue prints by the time you are done with this sort of thing and none of them had ever seen a tank before but by the time they got through this they were building tanks. they were not as good as the german tanks, they were much weaker

the chrysler comeback story continues with word it's filing nor an initial public offering. >> but chrysler'sack to the public markets has not been a smooth one with health care and retiree benefits providing detours along the way. phil lebeau. >> the uaw retirees are most interested in what happens with the ipo. the vee. before -- veeba trust is where the funds will come from. we don't know the size or price, but the funds will come from the veeba trust. if funds are raised for ipo, they will go to uaw trust. keep in mind, there's a difference in valuation of chrysler. fiat says the stake we want to buy from veba, it's worth $1.75 billion. veba says, are you kidding us? it's worth at least $4.27 billion. they have to come together on the difference of opinion if this ipo is going to continue. take a look at shares of fiat and i want to chair them to general motors. the issue for fiat, it continues to lag other automakers because of issues it has as far as expanding production around the world. finally, this is going to be very interesting for a lot of people, guys. take a look at this. the a

bush is here, from chrysler to twitter, the big companies that want to go public, we watch out for you tonight on the willis report. gerri: tonight's top story obamacare's unintended consequences leaving kids out in the cold, a glitch buried deep in the laws of the 13,000 pages, threatens to leave a half million kids without coverage, this just one of many facing our nation's families, time is running out for if administration to fix them all. on october 1, joining me now art pedic surgery professor at duke university, and senior fellow at manhattan unstute, doctor, i will start with you, explain this glitch to us, what is going on. >> so, it is known as a family glitch. what is happened is the way that law was wrote en. -- written, rememberer mandated insurance is written to conservative the employees, not the spouse or family, if an employer decides to just cover the employee, the family can go uncovered. so the employer has an opportunity to decide to go to the exchanges. however if they go to the exchanges they do not get subsidies available to them, because they were eligible for

, if not a complete takeover of chrysler. >> in frankfurt, where we can stay, first of all, for a look at the closing numbers at the end of monday's trading. the dax was almost flat. the stoxx 50 slipped just a ittle bit into the red, but not by much. closing numbers there. in new york, trading slower, and the dow. here in berlin, gadget addicts have just a couple more days in their fix of the electronics show. lexmark phones and tablets. as a reporter found out, even refrigerator technology is not standing still. >> an estimated 1.3 billion tons of food land in the trash worldwide each year. one company has turned that statistic into a marketing strategy. their new refrigerators are designed with a vacuum pump, designed to keep food longer. >> the owner presses a button to start the vacuum, and the oxygen is sucked out of the fridge. we estimate that the less oxygen keeps food fresh or five times longer. you can hear it, too. and nutrients are kept. that is an advantage. >> it is also incredibly energy efficient. eu agencies have given it a top score, and saving electricity is one of

autogiant chrysler is taking first steps to go public, 15 years after leaving the market. they are filing paperwork for an ipo to raise $100 million. the shares will come from a workers trust holding 42% of a company. >> it may be resolved by fiat that wants to american its business. >> the second time a charm for a south carolina man who hit it big. >> in south carolina the winner of powerball's fourth-largest jackpot has come forward but will remain anonymous. he turned in the ticket worth almost $4.5 million. he said it was the second time he played the lottery. >> american shrimpers are worrying about a ruling that could hurt their business. the u.s. trade commission voted to stop collecting taxes from businesses from five other countries. >> along the gulf coast of the united states, shrimping is a way of life and a business. . >> shrimping and fishing has been in the family for ages. grandpa did it, daddy, my uncle and my sons do it. >> this is in man's 30th boat. it can hold 10 pound of shrimp, but it is getting too expensive to run. >> you can't afford to pay $4 fo

chrysler says their sales are up from last month. gm reporting and increase.o listen to the fox business network on your xm radio. the satellite radio company will carry fbn audio starting october 18. the channel number not yet announced. that is the very latest from the fox business network. giving you the power to per. ♪ dennis: citigroup is upgrading its investment rating on the uk and europe. they are downgrading its u.s. equity market based on lower earnings forecasts and challenges in washington. despite these threats, the u.s. dollar has been climbing. of almost 1.5% from last year. the greenback will actually keep on climbing. thank you for being with us. i talk to you about this before. a piece of paper could represent the dollar in the country. when you have more shares issued into a country, each share goes down in price. $1 trillion fed balance sheet to 3.5 trillion. the dollar is actually worth 15% more now than it was in 2008. this seems to defy logic and economics. >> it is always a relative play. the dollar is stronger for a couple of reasons.

the auto workers own about 41% of chrysler. fiat owns the other 59%.own the rest of chrysler but they and the uaw have not agreed on a price. >>> apple says it sold 9 million phones over the weekend. people lined up last weekend to get their hands on the iphone 5s and the less expensive 5c. one reason for the boost in sales, this was the first time newly released iphones were immediately available in china. apple stock rose $23, or about 5% closing at more than $490. there is a gold rush of sorts on ebay for those new gold colored iphones. someone bit up the price of the s models to $10,000. the new phone retails for $649 plus tax. but right now, all of the champagne, or gold colored phones are on back order. the only way to get one now is to buy one from someone who has picked one up before the supplies run out. >>> the garage where the first apple computer was built, may be designated as a historic site. it's also where steve jobs and steve wozniak put together the first apple 1 computer. jobs moved into the home in 1968, and the home is still in the

general motors said sales you were up 15% and ford and chrysler had a 12% gain. all three carmakers getting a boost for booming demand for trucks. new car buyers are paying the highest cost. the total average car cost including add-ones and taxes and license fees and all that is $31,250, that's up $164 from july. the auto data research firm and shopping site says five car companies were at the record high price, chrysler, ford, honda, nissan and volkswagen. toyota has three separate recalls involving 369,000 vehicles worldwide. some heat injures with some lexus car models can cause them to stall unexpectedly. no accidents have been reported and toyota says owners of the vehicles will be notified soon. >>> the long-awaited debut of samsu samsung's new smartwatch is today. it's called the galaxy gear. it's a small device on your wrist that can make calls and surf the internet on a small color kreen. analysts think smartwatches are the next big thing in technology. >> people think wearable technology is going to explode like smartphones did a couple of years ago. sa

back in 2007 when chrysler needed help, says it thinks that stake worth about 40% of chrysler wouldth part of it. it's fiat, though, the italian company, which also owns the majority of chrysler, doesn't necessarily want to pursue this move. fiat would rather just buy the united auto workers' stake outright. of course it's not necessarily offering as much as the autoworkers would like. so here's a case again, a back and forth internal company dispute, but if you think that what the union did at the time was basically helped to bail out chrysler by removing its health care costs, now the union is saying it wants to make sure it's gettinging the full value of that stake. the trouble is this -- if it goes public, fiat saying it's not necessarily going to participate, and if it splits the two companies, which have been operating in an alliance for the last couple years to help the company turn around, you might see a big loss of momentum. so here again -- >> what's the bottom line, though? >> if it goes public, could be a big problem. >> what's the consensus? this is obviously a politic

the chrysler group filed for an ipo today, 15 years after going private. of chrysler.own about 41% fiat owns the other 59%. they want to own the rest of chrysler but they and the uaw have not agreed on a price. >>> apple says it sold 9 million phones over the weekend. people lined up last weekend to get their hands on the iphone 5s and the less expensive 5c. one reason for the boost in sales, this was the first time newly released iphones were immediately available in china. apple stock rose $23, or about 5% closing at more than $490. there is a gold rush of sorts on ebay for those new gold colored iphones. someone bit up the price of the s models to $10,000. the new phone retails for $649 plus tax. but right now, all of the champagne, or gold colored phones are on back order. the only way to get one now is to buy one from someone who has picked one up before the supplies run out. >>> the garage where the first apple computer was built, may be designated as a historic site. it's also where steve jobs and steve wozniak put together the first apple 1 computer. jobs moved

sergio marconi and chrysler value chrysler at about $1.75 billion.e that with the viva trust. it values the stake much higher at 4.27 billion. big gulf we know the two of them. and they've been trying to figure out -- you know, you get a closer stimgdz on the valuation. once they come up with that, perhaps then fee ya will be able to close the deal in terms of buying that remaining 41%. i will fought be surprised if they reach some kind of a settlement. but for now, they're moving that train down. >> but do they go on a road show and the banker starts saying what they think the price would be and then they show that to sergio? >> they're going to have to, you would think, at some point. and the other thing is, you can't really go out there and offer shares for sale unless both parties agree on a valuation, or at least a narrow band for valuation. because remember, the shares are coming from the veba trust. >> phil lebeau in chicago, thank you. >>> coming up, we're going to talk about the market implications of a possible government shutdown when "squ

. >> ford was standing on its own two feet and made some smart decisions, but if gm and chrysler had gone down, suppliers would go down, dealers would have gone down and all of that would have had a profound impact on ford. >> neil: the president talks about the ford ceo but how do you know that? that was my question then and remains my question now, and the judge, my colleague, steve moore, and charles payne, who were there when all this was going down then. charles, to you first. this idea that ford did say at the time, we need this bailout, it's good for us, we don't want to break our supply chain. i thought he was being a good soldier, but if you're going to tout rescues don't you want to go to those who are rescued. >> if msnbc and cnn goes out of business tomorrow it won't hurt fox news. come on. >> neil: very good line. >> sometimes the things the president says just don't make a lot of sense. yeah, disruption in the reply chain. we forgot about the toyota automakers and hondas and the japanese companies make more cars in this country than detroit did. let's be honest about it

chrysler is strictly focus on north america still. number two, they have to expand their footprint in smaller vehicles. this is what fiat was supposed to bring to the table. adam: fiat is a mess in europe. if you look at chrysler alone, 70,000 employees today versus 50,000. if you look back at 2008, they had a $16 million loss. chrysler is doing really well. >> almost written off as going out of business back then. now, they are a strong player. they still do not have all the pieces of the puzzle. adam: at the last minute, wanted it before midnight on the date that this alleged ipo would take place, do we get a deal? >> i would think so. it is in everyone's business to see that this deal go through. adam: i will wrap up with you on this. could we see a repeat of that kind of mistake? i think they know for their best interest they have to keep these players healthy and in the game. adam: thank you very much for joining us. >> thank you. lori: he does get choked up talking about cars. chrysler, just one of the many tooting the horn of d

syria also on the mind of former home depot and chrysler ceo bob nar deli. he said it's a looming issue over the economy. he has a lot to say about that and the impact of new healthcare law. he'll also be here to tell us who he thinks should be the next chairman of the federal reserve. you don't want to miss this exclusive interview. that's coming up later on on the "closing bell." >> and if buying nokia was such a good move for microsoft, why is the stock getting slammed today? we'll take a closer look at the two companies, and if, in this case, the sum is actually less than the parts. we'll have both parts. >>> let's check where we stand as we approach the final hour on wall street. the dow jones industrials average down a fraction. we had been up strong earlier, about 100 points earlier, and having given that up and then some, and now trading flat on the heels of john boehner agreeing with the president on the willingness to have some kind of military action in syria. nasdaq and s&p 500 actually showing gains. take a look here. the nasdaq up 14 points. on

>> reporter: chrysler that was kind of interesting? it does not want to pay up premium lycra of chrysler. is interesting to watch these two companies to march together. we are on and the path right now for automakers. >> reporter: sold the question is will be at by 100 percent of chrysler or will they buy it at a premium? so there is a little bit of control, on right now. >> jacqueline: temperatures largely in the '60s and '70s although we did hit the low 80s in santa rosa, the, and napa but it was very brief also, it remains very windy out there. the plants have been fairly strong near the calls mine and if with 29 mi. an hour sustained a glance. we are seeing gust and a 30 mi. an hour range for a number of places. and to amend it the winds will remain with clock coverage and cooler temperatures but france will picked up significant into thirsted as well. thursday as well >> jacqueline: for our inland valleys and the low seventies. will be in the upper 60s for the most part of the east bay shore spirit low 60s coast side. 75 in napa.

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. >> reporter: joanie said they were several hundred miles from the rental counter when their chrysler 200 started exhibiting middle aged car problems. >> we were between the wyoming utah border, middle of mountains, no cell phone coverage and the engine was leaking cool lappet -- coolant. >> reporter: they made it to another office and they traded it for another car. low mileage rental cars are getting harder to find. she said the next time they will be a lot more careful. >> we'll check the mileage. if it has more than 45,000 miles, i will probably say i want another car. >> reporter: if upand up with a high mileage car, don't leave the lot with it. i'm john matarese. >> all right. we'll take you to havre de grace. we're talking about a gorgeous look, comfortable temperatures. 75 degrees. dew points are starting to climb, so it's a stickier feeling. the southeasterly wind is coming in at 7 miles an hour. evening planner. if you're going out for dinner on the town it looks good. 65 at 11:00. the clouds will build in after 11:00. tomorrow morning it will start on a mx which are of suns

chrysler is offering shares to a new now is the president of ll baum capital management and its garyge total return 21% to. @%at is the likelihood more middle -- mere mortals can get a piece of the action? >> 0.zero. [laughter] if it is too hot the average investor will not get any if it is lukewarm maybe if it is cold you can get all you want. the best and biggest clients get the hot ipo. gerri: you remember facebook take a look at that stack -- stock chart he would have been hater -- better off buying later coming getting in july and waiting. what should investors do? hoping to get in? >> see you have to wait for it to open and looked at the valuation right now the auto stocks are very strong so chrysler stock will go up decently and facebook is on fire so twitter will do will also you have to check out the market. gerri: isn't the reality the first day pop goes from there? then they gethe usual people and then at a worse price? >> it depends on market conditions but quite often it is 50 than three months later $35. just a you know, i saw one company last week with a 100 million in

adam: chrysler revving up for an ipo. we have a behind-the-scenes drama for being.will have some top picks for your money. adam: latebreaking details as eric schneiderman looks to crack down on those getting data split second before the rest of us. nicole petallides is on the new york stock exchange. nicole: you were hoping to see some green arrows. right now, we do have some gains. however, they are hardly

in the case of gm and chrysler, they wound up with wonderful balance sheets. do give work give backs. agree to a two tier wamg. so now for the first time in the last 50 year, the u.s. auto industry is fully competitive with anybody else in the world. >> i hear you. bob lutz, appreciate it as always. it's a major day for apple and cnbc as the network is set for big time coverage of apple's big iphoe iphone event. that's tomorrow. jon fortt will join us live for a preview next up. you know throughout history, folks have suffered from frequent heartburn. but getting heartburn and then treating day after day is a thing of the past. block the acid with prilosec otc, and don't get heartburn in the first place. [ male announcer ] one pill each morning. 24 hours. zero heartburn. [ male announcer ] you know that family? the one whose eye for design is apparent in every detail? ♪ whose refined taste is best characterized by the company they keep? ♪ well...say hello to the newest member of the family. the cadillac srx. awarded best interior design of any luxury brand. ♪

it rescued chrysler from bankruptcy back in 2009. the ipo still must be approved by the securities and exchange commission. >>> td bank is settling charges that it failed to report suspicious activity in accounts now linked to a $1.2 billion ponzi scheme. the canadian bank will pay $52.5 million. the accounts belong to a former florida lawyer. he's now serving a 50-year prison sentence in the ponzi scheme. >>> bank of america has been orpded to pay black -- ordered to pay black job applicants more than $2 million in backwages and interest to settle a discrimination case. the bank applied unfair and inconsistent selection criteria leading to the rejection of qualified black applicants for teller and entry level clerical and administrative positions. this decision affects over 1100 applicants. >>> we still don't know how many stores wal-mart will build in the district, but we do know the company has opened hiring centers for two new locations. they're recruiting employees for stores at 2nd and h streets in northeast and along georgia a

by day tony works for chrysler, and spends the rest of the time taking photos of the city's decay and distress. >> i'm tony mica, people may know me as tony detroit. as of right now i have over 350,000 followers on instagram. pictures i post are basically pictures i see every day being a detroiter. old architecture, homeless people, abandoned buildings, burnt-out buildings. when i walk out the front door it's different to any other city - big city in america, i believe, in the sense that even on a saturday night it's pretty desolate. looking through my instagram account, you can pull up pictures of many different areas of the city. here is one from south-west detroit. a lot of houses look as if it was abruptly abandoned - clothes in the draws, food in the refrigerator. one of my favourite interor abandoned houses. and the abandoned brewster projects. it was open in 1935 - the first low income housing in the country. the history is here. smokey robinson played basketball here and lived here. lily tomlin, aretha franklin - a lot of mow town lives here. a few instances where i was threat

chrysler files for an ipo four years after being bailed out. if and when a deal happens, it would be the first time since 1998 that all three big u.s. automakers will be publicly traded. facebook, meantime, is rolling out a new payments feature. users will be able to automatically fill out personal information when paying for items in retail stores. and burger kings wants you to feel less guilty about eating its fries. the fast-food chain is releasing crinkle cut, 20% fewer calories than regular fries. back to you. >> thank you. can't wait to try those. >>> coming up, the sports highlights. there have been several nfl quarterbacks to played in super bowls for different teams. but has any starting quarterback won a super bowl with two different teams? >>> before the break, we asked has any starting quarterback won the super bowl with two different teams? the answer is, no. although, craig morton and kurt warner started a second team, but they didn't win. >>> monday night football. broncos and raiders. peyton manning certainly has a great start t

they would come to chrysler and ford and say you carry out a thousand cars, you know, a week. why can't you just turn out a thousand tanks? welt, number one, a tank is not at all like a car. it's totally different. number two, they're not set up to make tanks. they're set to do that you don't say, okay, stop making fords and start running tanks down the line. it you need a new set of machinery. they have to take everything out that is there, and put new machines in, or you have to build a new plant, which in most kaleses -- cases is what happened. lots of new plants got built. it takes time because you have to go through the process i just described. you have to first break down what it is you're making, make it in a form that the engineers can understand, then find and demean machine tools that can manufacture the parts in large numbers. then you have to design how the machine tools are going to fit on the factory floor so the product can flow from one station to another. that's a very complicated piece of engineering. and only then of course you have to bring in the raw mate

by day he works for chrysler driving cars on a test course. the rest of his time taking photographs of his city in distress. >> i'm tony micah. people might know me as tony detroit. the pictures i post of detroit are basically pictures that i see every day just being a detroiter. old architecture. homeless people, abandoned buildings. burnt out buildings. when i walk out the front door it is really different than any other big city in america i believe. in the sense that even on a saturday night, it's pretty dez late. looking through my instagram account, you can pull up pictures of the city. a lot of the houses look as if i was abruptly abandoned. there's the abandoned brooser projects. it was opened in 1935. it was the first low-income housing in the country. the history is still here. smokey robinson played basketball here. he lived here. lily tomlin, aretha franklin, a lot of motown lived here. a few incidents where i was really threatened was in the brooster center. a lot of gangs, which is why they are tearing it down. the ecosystem in a

we have a new info when chrysler could go public. details on that too when we come back. ♪ [ tires screech ] ♪ [ male announcer ] 1.21 gigawatts. today, that's easy. ge is revolutioning power. supercharging turbines with advanced hardware and innovative software. using data predictively to help power entire cities. so the turbines of today... will power us all... into the future. ♪ into the future. this man is about to be the millionth customer. would you mind if i go ahead of you? instead we had someone go ahead of him and win fiy thousand dollars. congratulations you are our one milliontcustomer. nobody likes to miss out. that'why ally treats all their customers the same. whether you're the first or the millionth. if your bank doesn't think you're special anymore, you need an ally. ally bank. your money needs an ally. lori: okay. speed read time. quick read of the day's other headlines, five stories in one minute. first up, boeing plans to make the first life next week of the 787-9 first high stretched version of dreamliner. the pl