chrysler as access to the larger american market and opens parent company. is a leader in electric car development under the new brand name still enters they would be a force to be reckoned with in europe's competitive car industry at least that's the plan. p.s.a. and ffion chrysler had a combined turnover of around $170000000000.00 euros last year together they employ more than 400000 people and sell nearly $9000000.00 cars annually. the merger would make p.s.a. and feel chrysler the 4th largest car manufacturer worldwide but the commissioners voiced concerns recently and now wants to really evaluate the planned merger after all the merger could severely reduce market competition especially for delivery vehicles and the coronavirus crisis isn't helping the situation either. sold around 45 percent fewer cars in the 1st half of the year and their future partner fiar chrysler is also coping with a slump in sales both companies are no hoping that the e.u. commission won't put the brakes on the deal. next the former prime minister of malaysia has been found guil

on chrysler as access to the large american market and opals parent company pujo situ and is a leader in electric car development under the new brand name style and as they would be a force to be reckoned with in europe's competitive car industry at least that's the plan. p.s.a. in fia and chrysler had a combined turnover of around $170000000000.00 euros last year together they employ more than 400000 people and sell nearly $9000000.00 cars annually. the merger would make p.s.a. and fia and chrysler the 4th largest car manufacturer worldwide but the commission has voiced concerns recently and now wants to re-evaluate the planned merger after all the merger could severely reduce market competition especially for delivery vehicles and the coronavirus crisis isn't helping the situation either p.s.a. sold around 45 percent fewer cars in the 1st half of the year and their future partner fi at chrysler is also coping with a slump in sales both companies are no hoping that the e.u. commission won't put the brakes on the deal. let's talk more about this now with the w.'s financial corresponde

fiat chrysler is down 39%.ompany like valvoline is perfectly positioned to pick up on that loss. on the void that is created. we look for those. tech is that big melting up. chople are buying big te because other people are buying it. when you have seen so much volatility out there, then you have huge growth stocks that have a solid cash balance sheet, it feel safe to put your money there when you are heading into a recession. what you said this has been overextended and where do we go from here? >> absolutely overextended. that's exactly what happens. facebook is seen as a safe play, than 25 majorore companies like cutting them, as soon as mark zuckerberg says i'm going to meet with every company boycotting us and the stock jumps up almost 5% on the day. what that is about is everyone wanting to buy and be what they consider safe which is big tech. it will be interesting to see the employee -- employment numbers tomorrow. that is all we keep thinking about, what are the numbers went to look like? -- what are t

in five trading days, it combined the market value of general motors, ford, and fiat chrysler.the time, its value has grown an average of $14 billion a day, roughly the value of fiat chrysler every single day. its recovery from the pandemic ofhelped by a second quarter deliveries that topped estimates. that is your bloomberg business flash. --ncine: the ricky and european economy will be hit hard this year and take longer to recover, the starkest warning from european officials about the impact of the pandemic. the executive says a contraction of 8.7 this year, a percentage point deeper than predicted two months ago. still with us, pau morilla-giner from london and capital. when you look at europe, how bailoutyou worry about funds not being used properly and going back to a crisis in two to three years for some european countries? pau: we don't have a great tracker grabber -- track record of allocation. having said that, for the first i feel more years, confident about european prospects than u.s., --ticularly when it comes europe is having almost 75% less cases than the u.s.,

us just for a moment discuss the proposed merger with fiat chrysler.ysler's european operations have suffered more than other regional carmakers, including psa. assuming you get approval, do you plan to push through with the restructuring of fiat in europe? what would that look like? carlos: we do not plan to do that. the companies are structurally high in profit and there is no sense of crisis inside of these companies beyond of course the covid-19 crisis, which is something we have all to face. resultsseen in 2019 that fta as much as psa have very strong results. the companies are strong. the companies are complementary in terms of business, in terms of technology, in terms of maturity. we have a lot of great things to do. we intend to implement synergies after the closing which means there is a lot of value to be created from synergy. there is a lot of value to be created through this bigger company to face the challenges of the future. this is the reason why we are so excited. we believe we will be stronger then the standalone position. we have sig

have $200000000000.00 it's worth twice as much as this ridiculous car companies for it if you're a chrysler and general motors but clearly wall street is not seeing tesla as a car company it sees tesla as a technology company also being involved in better research and all electronic mobility or lecturing mobility but it's really it's been an amazing ride that we've seen in the stock of tesla in the past couple of months you know i.d.s. quarter in new york thank you so much. dealing with the post covered economy will be front and center of germany's presidency the pandemic has put large parts of the blocks economy on hold impacting businesses and consumers alike on the agenda is a long list of tricky negotiations the e.u. is in the middle of budget talks and is guiding through its coronavirus recovery fund regionally germany wanted to put climate change at the heart of its presidency that was before the pandemic. earlier we asked massive president of the german institute for economic research whether the focus on recovery comes at the expense of other pressing issues clearly in this crisis t

i talked to dodge -- i'm sorry, the fiat chrysler head of passenger cars brand that includes dodge, askedds cars like this. he said it doesn't, but their customers want them, so he's going to build them for them as long as he can. dodge seems to be doing something right, it just became the first american car brand to top the j.d. power initial quality study. connell: it's interesting to ask somebody why do we need a car like this, we don't, but it's interesting because they're building them because they can, an suv that goes 180 miles an hour, right? >> yeah. the amazing thing is they've been selling on average over 10,000 of these every year since 20 the 15 in all the various models, and the prices start add 60 grand. these are not cheap cars. more importantly, that creates a halo for these models. you see a lot of dodge challengers, they have six-cylinder engines. people buy them because they know this exists. the dodge durango has the sports car hook, you can get it with a powerful v-8, but this pushes it over the top. they're only going to make that one for one year though because it'

gm filed the lawsuit last november, alleging fiat chrysler bribed union officials over many years toppeal. ryanair has agreed to keep on all its uk—based cabin crew in return for pay cuts of up to 10% following talks with unions. the deal follows an agreement with pilots who accepted a 20% pay cut to save jobs. earlier this month ryanair said passenger numbers were down 97% in june. president trump has held talks with mexico's president, andres manuel lopez 0brador, and a delegation of mexican business leaders, including telecoms tycoon carlos slim. the summit marks the start of the us—mexico—canada free trade agreement, which came into effect this month to replace nafta. stay with us on bbc news. we have much more to come. central london has been rocked by a series of terrorist attacks. police say there have been many casualties, and there is growing speculation that al-qaeda was responsible. germany will be the hosts of the 2006 football world cup. they've pipped the favourites, south africa, by a single vote. in south africa, the possibility of losing hadn't even been contemplated

fiat chrysler expected to post a tough quarterly result. america may have been more resilient than expected. a lot of autos to look out for. i will look to see what exxon mobil posts. >> a lot to look forward. fiat chrysler teased a jeep wrangler. have written the company to ask them to please do it. let's get an update on those sectors that have been hit by the coronavirus lockdown measures. air france, klm, posting a record loss. beforey it will be 2024 capacity returns to normal. 2023.h airways said for klm, maybe another year longer. raise 2.7hey need to 5 in euros. let's talk first about the recovery forecast here. it isy airlines have said not going to be a second-half recovery but it will take years. theme we have seen emerge. there was a raised maybe a month ago where there was some optimism demand would return, particularly in the short ro utes. that has evaporated in the last couple of weeks. we have seen people cancel. feed back the industry. we have heard from airbus. saying then body, recovery will take years. we are hearing fr

to lead in terms of fatalities reporting 136 in the past 24 hours outside of the pandemic, fiat chrysler have agreed on an exclusive deal waymo will work to integrate the driving system into the ram pro master full-sized van from fiat and other delivery trucks as well facebook is reportedly using new teams dedicated to studying potential racial bias. the newly formed equity and inclusion team will study how black, hispanic and others are affected by machine user rhythms and how those compare to white users on facebook. comparing to the pre-market trade now. i'll send things back to you >> thank you, buddy. >>> on a macro market basis, there have been some debate. some saying stocks are overvalued as millions remain unemployed others argue valuations probably don't matter anymore others say well if the federal reserve starts buying the balance sheet, we've got to buy it as well >> doing a lot of big picture work on the economy and everything else. we are pleased to have you on this morning it is a great debate do valuations matter with the way the market is structured right now? >> yes i

also getting q2 auto sales from gm, chrysler, toyota, nissan, and height -- and honda. 2:00 p.m., we get the fomc meeting minutes from last month. policyits of monetary expressed by fed members as they look to fiscal support to drive the next leg of the recovery. >> it will ramp up. on the equity market, down 18. session lows, -.6%. tomorrow is payrolls thursday. the range of estimates cannot be wider, from positive 500,000 all the way to positive one million. why is it so difficult to get a read on this labor market and could we be in store for a shock? i want to bring you dan alpert. -- in dan alpert. walk me through what you are seeing and why you think there is potential for severe shock. daniel: there is huge distortion pouring through the data as a result of the two major programs that were part of the care act, the payroll protection program and the additional federal supplement unemployment benefits. the problem with payroll protection program is it resulted during the course of may in a significant amount of re-payolling -- of rolling. we will likely see a continuation of th

what we are seeing at car plants across the country, we had a story about fiat chrysler where againstkard-line people staging production stoppages, work stoppages at the factory. you are seeing some employees of car companies really being nervous about the fact that they are in close quarters, they are on an assembly line and it would be difficult to social distance. , fiatr it is tesla chrysler, gm or ford, you are hearing about workers being concerned about the risks they are taking going to work every day. tesla is downplaying the idea that they are putting people at special risk and that workers are unhappy with the way they are approaching the handling of people heading back to work. let's get a quick check on the latest business flash headlines. blank -- bank of america planning and officer turn after labor day with a limited number of staff making their way back in phases. workers will be given 30 days notice in line with the banks cautious approach during the coronavirus pandemic. business travel and in person meetings would remain restricted. deutsche bank may buy all or -- th

. >>> shares of general motors and fiat chrysler fell on news of car prices down 30%.orcing consumers to stay at home and dealers and factories to stay closed bmw down 39% daimler stating they have to make pay cuts. the moves are needed to shore up the german carmakers decision and long-term investments. >>> tesla has overtaken toyota as the largest carmaker valued at $205 billion. the company has struggled to consistently make a profit and it has only produced around 500,000 cars this year stock is valued at 16 times earnings tesla is expected to announce second quarter numbers at the bell today the ceo congratulated employees in an email saying he is so proud to work with them. tweeting as a side project, tesla will be building rna microfactories for use by vaccine makers making solving diseases a software problem, which sounds encouraging. >> we are taking core respend ans and you can tweet me @cnbckaren. >>> pfizer hopes to scale up trials what thamet ans for the vaccine is coming up after the break od n literally save lives. but we need to act fast. please donate

bigfigure day for earnings in the u.s., exxon mobil reports before market, and on the auto front, fiat chryslerexpected to post quarterly results. chinese president xi jinping calls for a greater push on reform to stimulate domestic demand. that is as the economy continues its steady recovery from the slump. the out earlier today show manufacturing outlook improved for a second month in july. thelooks good for manufacturing pmi. whiche nonmanufacturing, is in positive territory. the underlying employment numbers, not looking so great. do you have confidence xi jinping is going to boost the domestic side of things in china? >> anything can happen. it is possible. it is just, how quickly can that happen? that is the question. the employment picture impacts confidence. that confidence needs to come through. ishink that willingness supportive, the willingness to do so is questionable. how quickly it can happen -- what we are seeing across the world is just a big hit in consumer confidence. employment figures, understand how that can happen. have: in equity if you upgraded china. how are you express

that relaunch could attracted off road users, buyers from fiat, chrysler, jeep. rang this morning. ford stock trading at $6 a share. it is down about 40% in the last year so again, look for those new broncos monday morning. checking in on the markets right now. for the most part down across the board for the dow and the s and p500. text stocks doing well and the only one up about half of a percent and 10,490 there for the nasdaq. bay area's netflix hit an all time high today trading at $500 a share. right now it's a little bit down from that number but netflix stock is up 50% this year. investors worried that netflix would be hurt by disney plus and forced to lower prices and both services thrived during the pandemic and both have a list of new releases in the works. >>> today is a day of economic protest. organizers are calling it blackout day. now, they want black americans to show economic power by not spending any money today in stores or online unless at a black owned business. according to nielsen, black americans spent $1 trillion on consumer goods in 2018

it's worth more than gm, ford, fiat chrysler and honda combined.esla may sell 5 shud vehicles this year. toyota alone sells ten million. elon musk commands attention o too. outrageous tweets, pot smoking in an interview, a baby with an incomprehensible name. he can dance, too. he's very much part of the new american business leadership. amazing. the 49-year-old musk is now worth more than warren buffett who turns 90 in august. musk represents a changing of the guard. it's interesting that he's an immigrant. he was born in south africa. he only settled in california in 1995. within four years he founded a software company and sold it for $340 million. he started spacex in 2002. tesla motors in 2003. what a wild ride, and how american. where else in the world can you go so far, so quickly. where else in the world can new ideas attract so much interest and support. i don't know where tesla's stock is going and i don't know the future of the electric car market, but five hours from now, we'll have a better idea. tesla reports at 4:00 p.m. eastern and g

>> deutsche bank says the truck startup is worth more than chrysler and yes, i dug into the numbers and worth a little bit more than fiat chrysler hovering around $17 billion and remember it has no sales, no deliveries,, but they do have deposits on orders of what could be worth around $10 billion worth when the keys are actually handed over and there's a big if to that. deutsche bank says that nikola offers investors on what they call a rare pure play because zero emission trucks especially with its hydro hydrogen trucks which might be attractive to fleet operators but they're keeping a hold rating on the stock $54 a piece, the stock has rallied from five- fold since its listing and as you know a favorite of the millennial trading app on robinhood along with tesla and a lot of other players as well. stuart: but that is absolutely incredible isn't it susan? look you've got an electric car maker whose been on this show but they got no sales. >> no delivery. stuart: but that company is worth more than fiat chrysler. >> well how do you i guess rationalize tesla when it has 10 % of the car

i don't think that's-- ♪ piece of that chrysler car nope. ♪ football cream (michael) okay. grr!g a computer animation class, so i could try to do a logo. look at that. even the receptionist is getting in on the creativity. very good. very good. hello, hello. hey, how you doing? michael scott. hey, michael. regional manager. hi, michael. nice to meet you. excited to talk ideas. us too, man. you know what? i want this to be cutting edge. i want it to be fast, quick cuts, you know? youthful, sort of a mtv on crack kind of thing. that sounds great. all right, good. well, this is what we have to work with. i would like you to meet andrew bernard. the 'nard dog. who let the 'nard dog out? hoo hoo hoo-hoo! he gives the best back rubs in the office. (andrew) that's true. i give a mean back rub. i also do good aromatherapy. [makes raspberry] not! you just got 'nard dogged! now this gentleman right here is the key to our urban vibe. urban? (stanley) i grew up in a small town. what about me seems urban to you? stanley is hilarious. phyllis is like our mrs. butterworth. kind of a less urban

get those numbers tomorrow morning when you look at ford, keep in mind that much like gm and fiat, chryslerally all the auto makers were shut down about six or seven weeks don't expect great numbers from them as well >> we appreciate the update. karen, what exactly do you make of the numbers phil points it out very well we knew they were going to be bad. was this more or less bad in your mind than what you thought it would be? >> right we knew they were going to be bad and they dhielivered on that promise. i don't know that it was any much worse than i expected i own gm, which has been terrible this year there were a few bright spots for them and some others the truck business is still a really good business high margin. when you're shut down and you have those kind of fixed costs to absorb, the earnings are going to be terrible i'm sort of more optimistic that there will be a rebound. i do think there is a post covid story of people not wanting to take public transportation, wanting their own cars for me, gm has not worked and they suspended their dividend which was the right thing to do,

so now you have big service companies that provide these services to companies like ford or gm or chryslercharles: right. >> so they're no longer counted as manufacturing employees, they never were and shouldn't have been. but that goosed that number. charles: i got you. >> second thing happened productivity has improved. we don't need as many people putting lug nuts in when a machine can do it. so the fact that we're gaining as many jobs in manufacturing as we had with productivity thissing strong, that is a sign of this manufacturing renaissance. charles: brian, got 30 seconds left. just your thoughts on so-called v-shaped recovery? we know a lot of parts of recovery can't come back 100% because of the social distancing but it has been impressive so far? >> yeah. let me make a couple quick points. first of all, manufacturing companies will not be shut down again. it is restaurants and bars that are really at risk. second thing it is about shutdowns. when we look at this, yes there are reversals, texas, florida, arizona, but they're not widespread. at the same time, illinois has moved on

i also point out the perspective to both general motors and fiat chrysler also make police vehicles.tic where we are, connell in this country where one group of people can see a particular issue one way and another group can see it in a completely different way. where we are. connell: that is so true. you think of ford and police cars. interesting less than 1%. jeff, thank you. reporter: back to -- connell: yeah. all right, thank you, sir. jackie, back over to you. jackie: all right. 700 billion-dollar plan to restart the economy. presumptive democratic nominee joe biden unveiling his buy american agenda in a key battleground state but it has got some experts sounding the alarm. plus a growing number of retail chains are hoping you trade in your doctor's office for your local drugstore. looking to make working from home a bit more luxurious? barbados is introducing a 12-month barbados welcome stamp. it would allow visitors to stay for entire year, to work remotely, once the caribbean country reopens to tourists on sunday. ♪ ♪ it's like walking into the chocolate factory and you won a

companies such as general motors fiat, chrysler and toyota reported more than a 30% plunge in sales in quarter car companies were forced to close dealerships for weeks to the pandemic sales were also hurt by record job losses and limited spending money also a factor in fewer sales more competition from car rental companies. they are selling existing fleets because of the travel slowdown. some credit analysts say it could take several years for the auto industry to recapture its pre pandemic sales numbers, wall street saw its best quarter in 20 years that's even as the u.s. economy flounders all 3 major indices shot through the roof while unemployment at more than 13%. >>so why is wall street optimistic. well investors have been betting on economic reopenings and on the unprecedented stimulus paid by the federal government the job market is expected to show some improvement when a new report is released tomorrow, however. >>at least 19 states have now pause so rolled back their reopening plans. >>coming up next hate crimes are on the rise here in the bay area next what officials say is

a lawsuit in every court in the country while sending his shock troops to kidnap protesters in a chryslere're using american cars, folks. they wanted to use a kia sorento and i said 'no, use the pacifica, they just got air conditioning.' and then he'll say something insane like, you kno to go in there with great force as soon as the cities and states call to ask for help on a very large basis, we will be there with full force and we will stop this horrible situation very quickly >> so in portland, they either clean out their city and do the job and get rid of the anarchists and agitators, which is what they are they're not protesters, they're anarchists and agitators we have many in jail many of them have been put in jail and it's going to be a long sentence they either clean out their city and do it right or we're going to have to do it for them. >> seth: think of the language trump is using to talk about americans in american cities full blast, full force, clean it out. those sound like the settings of a guy fieri line of bidets that's how dictators talk. i'd tell him to start wearing a

auto giants fiat chrysler and psa — owner of peugeot and citroen — have chosen a name for the combinedrue spirit of optimism, energy and renewal driving this industry—changing merger". that was quite a mouthful. stay with us on bbc news, still to come... security guards step in as medics, patients fight for supplies — a bbc investigation reveals shocking scenes inside south african hospitals. this is bbc world news, the latest headlines. a number of high—profile twitter accounts have been simultaneously hacked to spread a cryptocurrency scam. the top doctor in america's fight against coronavirus describes efforts by some in the white house to discredit him as "bizarre". let's talk jobs now, because the uk publishes official unemployment numbers in just over an hour. the government's subsidised furlough scheme has helped keep people in theirjobs up until now — with more than nine million workers furloughed. but almost a third of uk companies plan to lay off staff in the next three months, according to a survey by the british chambers of commerce. and this week the uk government's spendi

authorities in germany, italy and switzerland have raided the offices of car giant fiat—chrysler andollution during testing so—called defeat devices. stay with us on bbc news. still to come: a new device that could save not one, but two lives. scientists show the bbc the ventilator for two. nasa: can see you coming down the ladder now. it's one small step for man... 0ne giant leap for mankind. a catastrophic engine fire is being blamed tonight for the first crash in the 30—year history of concorde, the world's only supersonic airliner. it was one of the most vivid symbols of the violence and hatred that tore apart the state of yugoslavia. but now, a decade later, it's been painstakingly rebuilt and opens again today. there's been a 50% decrease in sperm quantity and an increase in malfunctioning sperm unable to swim properly. seven, six, five, four... thousands of households across the country are suspiciously quiet this lunchtime as children bury their noses in the final instalment of harry potter. this is bbc news. the latest headlines: president trump deploys more cities to techno

the electric carmaker added the combined value of general motors, ford, and fiat chrysler, growing byn a day. joining us is our equities team. -- joe easton of our equities team. this is not the kind of thing you will ever see. what an insane gain in value for a carmaker that makes fewer vehicles than any other i can maybe pagani.es >> the share price valuation has been absolutely remarkable really. yesterday we had another 14% gain. there was a big market move higher, but the disparity between the cars they are making now and what they think they will make in the future is where we get this. the company is currently making -- delivering around 90,000 cars a quarter, whereas some figures will say the company will produce around 6 million cars within the next 10 years on an annual rate. there is obviously this big expectation there is a huge growth company and we see a valuation that doesn't add up the fundamental earnings, so when we look at the price-earnings ratio, even on some of the most conservative measures, above 100 at the moment whereas some of the more fully valued carmakers

yen motors and chrysler and ford but it was the thousands of suppliers. the hundreds of thousands of jobs. 900,000 jobs on the line. and democrats and republicans together, together, said we're not going to let main street fail. a re going to continue to be first world nation with industrial assets. and that's what we did with the cares act. overwhelming support. passed by a republican senate, democratic house, signed by a republican president. standing up for the hardworking americans and for our industrial assets. we will continue to make cars in america. little known fact about southeastern michigan. we have an incredible aerospace sector. a diversified supply chain. we just launched a rocket, spacex, into outer space. so many of the suppliers in my region, so many of the incredible workers who helped produce the parts components that go in those rockets. it's absolutely remarkable what we continue to do. and the work force that bests all the expectations. so what did we do when this pandemic hit and we had to say guess what, for the health and safety

tesla'ss interesting, -- the short interest in tesla is far more than the total market cap of fiat chrysler is on the verge to be the first hit of $20 billion according to s3 partners. in a report they put out, they are saying that tesla and the company developing the ev truck, they are looking like candidates for a short squeeze. tesla, more than a 200% gain this year alone. likely short-sellers have hit the limit for losses. this is the value. you look at the percentage here that is outstanding, tesla is at 9.5%. there are a lot more heated stocks in the u.s., like american airlines. but elon musk has been toying and poking fun at the short-sellers this past weekend. he made good on his promise, producing a pair of short shorts to mark his triumph against these investors betting against tesla. they are on sale. they have been sold out. a bunch of people have been buying them. they are some $70 u.s. dollars. anna: very nice. what about the companies here in europe and the short interest in those? annmarie: so, when you look at the s3 short interest across the stoxx 600, the top companies a

down well over 30%, led by fiat chrysler, toyota, gm.too, in addition to all those guys. here's the silver lining, if i can have any for you. that is the retail sales weren't down as much for all these auto makers. it was the fleet sales and you know, rental car buys, rental car companies are not buying new cars so that's had a chilling effect, too. the smallest losers, if you will, in terms of auto sales are companies like mazda, volvo and subaru. mazda only down 10%, subaru down 25%. but that was good, as good as it got. anyway, buy yourself a ford. i always do because it's all i can afford. neil? neil: they are good cars. you are a good guy. jeff flock, thank you very very much. jeff flock following all of that. there is hope that a lot of these car related american truck sales, they might have been late to the recovery party but they could be coming anyway. all right. kayleigh mcenany's presser has ended. the back-and-forth on this comes at a time, for example, on the coronavirus case situation, whether the cdc is on board with some

mcdowell, senior writer for the wall street journal jon hilsenrath and the former home depot ceo and chrysler ceo bob nardelli, great to see everybody, thank you for being here. >> good morning, great to be with you. maria: nancy, let me kick it off with you, big day and big week of earnings, what are you expecting in terms of the earning season so far and the guidance that we are hearing from companies? >> yeah, well, tech continues to be the standout, maria, thank you so much for having me. you've seen the top 5 that are up about 32% while the rest of the market is down and the other 495 are down 7% and that's really all about earnings, the companies are raising guidance in many cases, the earnings have stabilized and up for the year it looks like so we continue to like that space but today we are watching mcdonalds for the consumer and also 3m for the global economy. maria: jon hilsenrath, jump in here. jon: nancy, you talk about tech and earnings for the year, i hope you break down in terrible recession earnings are rising, how much of that is coming from the tech sector itself, the balan

he bought a new chrysler and wanted to get a workout. so they decided they would drive from independence to washington and friends try to stop them from doing that. but they were determined and set off on the car it was an adventure because and then assure them out of town as rapidly as possible. so that as a consequence people would pass them by former president of the united states driving along the highway the cars would drop back and pass them again to see if their eyes are playing tricks on them he turned and said there goes our incognito. now the press corps that had covered them drove out to maryland and heard that he was coming they all followed him and he loved that and then with his short sleeves on driving the car the crowd all gathered around and then drove up to new york that was on the town and went to restaurants just like anybody visiting new j york taxicabs and pullover and drivers way to jump out and say hairy. you are my man and on the way back a state trooper pulled him over because apparently he was cutting to close

last question, how come tesla is worth more than gm, ford, fiat chrysler and honda combined?? >> come on, this is new world we live in. those are car companies. this is technology company don't you know? the way it is positioned. people want to own it. that is what make markets markets, stuart. people don't want to own ford or gm. they look tesla as company on the future for alternative energy that happens to make cars, makes great electric cars at that. with tremendous, someone at the lead who just has captured the imagination of the american people of the world for that matter. look at the chinese, their fascination with tesla. i'm not commenting is it a car company or technology company if you look at the stock at $1600 a share. see where it was three weeks ago or four weeks ago is it any better company than four weeks ago? should this company be moving 30 40% in a month. that is retail frenzy what we see. stuart: fair point andrew. you may have opened the floodgates on the downside. andrew left. i'm sure we see you real soon. quick program note. the mayor of austin, texas

fiat chrysler, bmw down 39%. gm down 34%. hyundai down 18%.se of the pandemic, you can't go anywhere, you can't go from state to state because of these different orders. you are ordering in so there's very little driving going on. when you don't need your car, you don't think about buying another one. it's simple. but they are thinking that with turning of the tide of the economy, things are going to change. of course, now you have the reclosings that are happening in some states. we just talked about florida, with the highest covid numbers ever. so you know, it's not looking good. on the other hand, you mentioned tesla having record numbers. by the way, the market capitalization of tesla now is $220 billion. that's ten times, ten times the market cap of ford motor company. ten times. ashley: incredible. david: more than ford. amazing. ashley: talking of ford, nice segue, david, ford teaming up with disney, right? david: this is incredible. yeah. they have a new bronco series. their most famous model is the 4x4. they are coming out with this o

it's worth more than general motors, ford, fiat chrysler and honda combined.more than warren buffet. now, what that means is, you see a changing of the guard of american business. here comes the new technology companies represented by this relative youngster elon musk vs. the old line industrial companies represented by warren buffet. it's a complete switch. it just shows you how technology now dominates the american economy. what a story. steve: what a story. elon musk was one of the first in california saying hey, governor, let me reopen. now he is going to reopen -- actually open down by austin. stuart, thank you very much. >> you will see me later. steve: you bet. the later is 9:00 eastern time. he's going to be live for three hours over on fox business. all right. straight ahead, the state department spokesperson morton -- morgan ortagus and dr. marc siegel's interview with president trump coming up. and a partner who listens and acts. humana calls it human care. it's talking to a doctor from your couch, or helping you find a cheaper prescription before y

i want to see what fiat chrysler has to offer no, i'm buying a tesla that is the term people use whenking about it what do you think? >> i think you're absolutely right. our argument around battery technology we saw a real major shift last summer, like august, september our industry started to admit that tesla had a lead. that's why there's so much focus on the battery we think there's a meaningful process technology that tesla has developed and is going to drive excess performance on the batteries. may want to show that in person so that september 15th day is intended to be a new person event in a detailed way to show why the process is different, the performance is different what tesla has is understanding batteries over 15 years of testing and leveraging that information through the design of the power train, that's more difficult than i think a lot of folks give it for credit and we're receiving those issues with the competitors >> okay. colin, appreciate it really interesting perspective phil, thank you for joining us as part of all of this we'll talk to you all very, very soon m

sell the most vehicles in the u.s. , ford down 33% for the quarter followed guy gm, toyota and fiat chryslercure about buying a car. that is something called the ford promise program. essentially if you buy a car from ford over the next three months and you lose your job, they'll take the car back, won't charge you for it but there's fine print. let's look at that. again, before september 30, you have to buy a 2019-2020 or 202a dealer, you have to finance it through ford motor credit, and then if you lose your job, you have to apply for unemployment and be granted unemployment, and anytime over the next year if you lose your job they will take the car back as long as you haven't wrecked it or done bad things to it, up to $15,000 worth of lost value so you buy a pickup truck at $42,000 you drive it off the lot it's already worth now 35, they will take it back anyway. of course the dealers are wondering how many cars will we have to take back? i guess we'll see. steve? steve: fingers crossed jeff flock we thank you very much. ainsley? ainsley: thanks steve. well this week, jeffrey epstein 's f

and blue-collar areas in the country, home to the big three automotive workers, ford, gm, and fiat chrysler. 1900's, labory has been a driving force in the state of michigan, our united auto workers. and with new advances in technology, i am sure that that legacy will continue. i am proud to say i sit here with our chairwoman and her vision and hard work, that investing money in women and apprenticeship in nontraditional occupation is critical. the only way we are going to move this economy forward, we need all hands on deck, and that includes investing in women in these nontraditional roles. 101istered apprenticeship, $ million for youth bill programs, and $50 million to continue to expand the strengthening community college training grant. i want to again thank my leadership thank the in this, and for the ranking member's investment in this bill as well. i yield back. thank you. chair lowey: this character is recognized. -- ms. cacter is recognized. >> thank you. i would like to think the chairwoman and ranking member call for their work on this critical bill. chairman lowey and ranking m