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there is no gm facility in fred upton's district. he is tried to be very clear that he can be -- cars are important for michigan but auto safety is important for everyone is what he said to us this week. he has vowed to be tough. of whos this question screwed up. there will be some questions. fred upton was key in writing a law after another auto problem tout 14 years ago that try boost communication between carmakers and the safety administration. the came to see if his law, basically, was followed or not. there are others who think the automaker has been slow in .nforming the regulator there were press a car company harder. some of those regulator harder. talk to bit about the fact is federal government assisted gm during the financial meltdown of the united states. how much does that overshadow these hearings this week the ipo guest: people keep saying that they don't think it will. people keep calling it government motors. biden famously said osama bin laden is dead in gm is alive. republicans didn't like the bailout. one slightl
there is no gm facility in fred upton's district. he is tried to be very clear that he can be -- cars are important for michigan but auto safety is important for everyone is what he said to us this week. he has vowed to be tough. of whos this question screwed up. there will be some questions. fred upton was key in writing a law after another auto problem tout 14 years ago that try boost communication between carmakers and the safety administration. the came to see if his law, basically, was...
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. >> fred upton, who is a congressman from michigan, is now speaking as part of the hearing.e are covering and following the gm hearing. i want to get your response. harry waxman released a supplemental memorandum on findings from the never released gm warranty claims. it says that it announces the warranty claims database by the committee staff revealed 133 cases between june of '03 and june of 2012 where customers were actually reporting issues related to the ignition switch and some of the example that say they give, customers stating that sometimes when bumping the ignition switch area, the vehicle just shuts off. the vehicle stalls out when hitting a bump or pothole. customers stating that the vehicle died at highway speeds or when hitting bumps in the road the vehicle died four times. we're talking about very serious -- even if somebody isn't injured, events. how is it in your view that none of this came forward, the bulk of these claims are only now coming out in the last couple of years? how can that level of danger in a vehicle not come out earlier? >> having litigat
. >> fred upton, who is a congressman from michigan, is now speaking as part of the hearing.e are covering and following the gm hearing. i want to get your response. harry waxman released a supplemental memorandum on findings from the never released gm warranty claims. it says that it announces the warranty claims database by the committee staff revealed 133 cases between june of '03 and june of 2012 where customers were actually reporting issues related to the ignition switch and some of...
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he is fred upton and, i mean one thing i think is interesting. gm has done this great job, we think of them as a michigan company but they have facilities in 28 states and 75 congressional districts. so they're really a national company with a heavy michigan presence. there is no gm facility in fred upton's district and hese triedo be very clear that he can be, you know, cars are important for michigan but auto safety is important for everyone is what he said to us this week. so he's vowed to be tough. i think there is this question of, who, again, who screwed up and there will be some questions, fred upton was key in writing a law after another auto problem about 14 years ago. that tried to boost communication between carmakers and the safety administration. so he is keen to see if his law basically was followed or not. there are others who think the automaker has been slow in informing the regulator and the public. so they will press the car company harder. some will press the regulator harder. why didn't you notice, why didn't you get involved
he is fred upton and, i mean one thing i think is interesting. gm has done this great job, we think of them as a michigan company but they have facilities in 28 states and 75 congressional districts. so they're really a national company with a heavy michigan presence. there is no gm facility in fred upton's district and hese triedo be very clear that he can be, you know, cars are important for michigan but auto safety is important for everyone is what he said to us this week. so he's vowed to...
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michigan republican fred upton asking perhaps the question of the day.hy did it take gm so long to issue the recall? we are waiting to hear testimony , the new gm ceo. that should be coming up shortly. over the last month, the f of anotherons disaster have unfolded. general motors has recalled 2.5 million vehicles due to a defective ignition switch. the company hasn't knowledged that these cars have caused dozens of crashes and 13 fatalities. i know the families of some of are -- it did not meet its own specifications. numerous internal investigations resulted in nothing but a nonpublic service bulletin that partially fixed the problem for fewer than 500 drivers. new analysis released this morning revealed that over the last decade, gm received over 130 warranty claims from drivers and gm technicians who experienced and identified the defect. drivers reported that their cars shut off after hitting bumps or potholes at high rates beads or they did something as simple as pressing the ignition switch with their need. one gm technician even identifies the ex
michigan republican fred upton asking perhaps the question of the day.hy did it take gm so long to issue the recall? we are waiting to hear testimony , the new gm ceo. that should be coming up shortly. over the last month, the f of anotherons disaster have unfolded. general motors has recalled 2.5 million vehicles due to a defective ignition switch. the company hasn't knowledged that these cars have caused dozens of crashes and 13 fatalities. i know the families of some of are -- it did not...
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chairman fred upton said in a statement of these initial documents revealed failures within the system. not one of these documents is an e-mail that could be damaging, where it shows that the ceo was told of problems in 2011 when she was senior vice president of global products. it could be damning because gm says that it was in no way contradicting her testimony preachy testified to congress where she swore under oath she didn't learn of the ignition switch problem until after she became ceo in january. gm is maintaining that power steering and ignition switch problems are not related. we know that she knew of some goblems, even if it doesn't to the faulty ignition switch. some skeptics say if the car turns off and the power steering turns off, those could be related. other documents show exchanges georgio. raymond de he calls the problem impossible to modify. he said he saw no issues with the airbag. he signed off on parts that did not solve the problem. in 2012 he suggested they only make the switch on vehicles rot dealerships -- brought into dealerships who saw problems themselves.
chairman fred upton said in a statement of these initial documents revealed failures within the system. not one of these documents is an e-mail that could be damaging, where it shows that the ceo was told of problems in 2011 when she was senior vice president of global products. it could be damning because gm says that it was in no way contradicting her testimony preachy testified to congress where she swore under oath she didn't learn of the ignition switch problem until after she became ceo...
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there is no gm facility in fred upton's district. he is tried to be very clear that he can be -- cars are important for michigan but auto safety is important for everyone is what he said to us this week. he has vowed to be tough. of whos this question screwed up. there will be some questions. fred upton was key in writing a law after another auto problem tout 14 years ago that try boost communication between carmakers and the safety administration. the came to see if his law, basically, was followed or not. there are others who think the automaker has been slow in .nforming the regulator there were press a car company harder. some of those regulator harder. talk to bit about the fact is federal government assisted gm during the financial meltdown of the united states. how much does that overshadow these hearings this week the ipo guest: people keep saying that they don't think it will. people keep calling it government motors. biden famously said osama bin laden is dead in gm is alive. republicans didn't like the bailout. one slightl
there is no gm facility in fred upton's district. he is tried to be very clear that he can be -- cars are important for michigan but auto safety is important for everyone is what he said to us this week. he has vowed to be tough. of whos this question screwed up. there will be some questions. fred upton was key in writing a law after another auto problem tout 14 years ago that try boost communication between carmakers and the safety administration. the came to see if his law, basically, was...
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fred upton has released a statement reading "these initial documents reveal failures within the systemhere is much to examine and we will continue to follow the facts." gm ceo mary barra told of steering problems in 2011, according to documents released by the committee. the national highway traffic safety in sought an investigation of cobalt for airbags back in 2 -- 2007. and the gm engineer said it was "impossible to modify this switch." we will continue to follow the story and bring you more development throughout the day and in the next hour on "street smart." let's get you the bottom line on what is happening next week. my colleague yang yang is in washington with the preview print a big week of earnings to look forward to. that is absolutely right. earnings season is in full swing. big banks and financial services companies are at the center of it all. we heard from wells fargo and jpmorgan earlier today. citigroup reports on monday. bank of america and american press on wednesday. and goldman sachs and morgan stanley close out a shortened week on thursday, as u.s. bond and equit
fred upton has released a statement reading "these initial documents reveal failures within the systemhere is much to examine and we will continue to follow the facts." gm ceo mary barra told of steering problems in 2011, according to documents released by the committee. the national highway traffic safety in sought an investigation of cobalt for airbags back in 2 -- 2007. and the gm engineer said it was "impossible to modify this switch." we will continue to follow the...
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well, congressman fred upton say, quote, secretary sebelius may be finished in her roll oversea seeings in relief for the american people will continue. get answers? what answers? >> georgia senator saxby saying i've had concerns about her willingness to ignore the clear intent of congress and texts of duly enacted laws. there they go with that lawless line again. and of course, senator shutdown joined the party. >> i think burwell presents an ideal opportunity to examine the failures that were obama care. four years ago, minds could have differed over whether this would work. seeing the disaster, the train wreck that is obama care, it's the essence of pragmatism to acknowledge this thing isn't working. >> 7.5 million people enrolled and they're still talking repeal? good luck with that one. joining me now, david corn and angela ride. thank you for being here. >> i'm sorry i'm laughing. this gets kind of more and more absurd by the day. >> you know, david, confronting the new health secretary is another excuse to talk about repeal now. >> well, yes. that was a woman who i knew years ag
well, congressman fred upton say, quote, secretary sebelius may be finished in her roll oversea seeings in relief for the american people will continue. get answers? what answers? >> georgia senator saxby saying i've had concerns about her willingness to ignore the clear intent of congress and texts of duly enacted laws. there they go with that lawless line again. and of course, senator shutdown joined the party. >> i think burwell presents an ideal opportunity to examine the...
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fred upton just pout out a statement and said, congratulations, eight million signups. we still don't know how many people paid they're premiums. still don't know all the details how many people are actually enrolled? the president is talking about signups. so that changes the definition a little bit. look, i don't want to sit here and say the president does not have good. we have to admit the story on health care has gotten better for him. now, one reason is, it started in the toilet. the october 1st rollout. so anything is better. sobelly, there's -- secondly there's still a lot to be playedout. ess week, when president waved goodbye to kathleen sebelius, there were mistake thursday the first quarter but what counts this the final scour and we have sentence and a -- seven and a hf million signups. he knows there's a strong struggle ahead. it. when you come out the gate, like me telegraphing to my parents i'm going to have straight ns and and i had a couple of ds and cs, they're thinking i'm mensa material, but it's pathetic. >> the start was pathetic. it's getting bet
fred upton just pout out a statement and said, congratulations, eight million signups. we still don't know how many people paid they're premiums. still don't know all the details how many people are actually enrolled? the president is talking about signups. so that changes the definition a little bit. look, i don't want to sit here and say the president does not have good. we have to admit the story on health care has gotten better for him. now, one reason is, it started in the toilet. the...
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a quote from fred upton who said, this law has disrupted health care for millions, sent premiums skyrocketing, limiting access to doctors. the republicans are upset the administration has not answered basic questions about enrollment. >> right. this idea of what the -- are there enough young people, the president answered that saying there's the right mix for what the cbo wanted what health insurance, what exchanges wanted to make the premiums stay at a decent level. so i think in some ways the republicans are, i think we will see at some point them try to try it out a new strategy. we saw that from bobby jindal, like a four-page plan of what he would do with health insurance. but also, i think you will see some democrats try to figure out how do they incorporate messages about obamacare into their strategies as well. you see that from mary landrieu, in louisiana, for instance, and talking about the need there to expand medicaid. i think you will start to see some of that from democrats. but my goodness, it does feel like obamacare's on a glide path in terms of the good news and narratives ge
a quote from fred upton who said, this law has disrupted health care for millions, sent premiums skyrocketing, limiting access to doctors. the republicans are upset the administration has not answered basic questions about enrollment. >> right. this idea of what the -- are there enough young people, the president answered that saying there's the right mix for what the cbo wanted what health insurance, what exchanges wanted to make the premiums stay at a decent level. so i think in some...
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fred upton already spoke. marcia blackburn, vice-chair of tennessee.ll take the swearing-in of mary barra, when the q&a begins, we know the prepared statement that has been released but the q&a is where the rubber hits the road. not to make a joke out of this. we'll monitor what we're seeing in washington for all of you once they get through all the procedures in the committee in the house. >>> everyone heard of the 12 steps to stop alcoholism but a new drug therapy process claims to help really kick the habit. it is an implant. that releases slowly over time to block your craving to drink. here to talk about it, medical dollars, is dr. manny from the fox news medical a-team. this is fascinating. >> it is fascinating, yeah, i do. the space of alcohol recovery or drug abuse rehab is huge. you're talking about billions and billions of dollars. and it is getting worse before it gets better because so many people are dependent on alcohol nowadays and of course on pills. we see all the new medications being put on the market. so we'll have a big problem mov
fred upton already spoke. marcia blackburn, vice-chair of tennessee.ll take the swearing-in of mary barra, when the q&a begins, we know the prepared statement that has been released but the q&a is where the rubber hits the road. not to make a joke out of this. we'll monitor what we're seeing in washington for all of you once they get through all the procedures in the committee in the house. >>> everyone heard of the 12 steps to stop alcoholism but a new drug therapy process...
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fred upton, chairman of the committee worked on changing the law 15 years ago.e a leadership role in doing that. the agency is grossly underfu underfunded, very secrecy. we need criminal penalties and higher civil penalties so that the auto companies are deterred from refusing to do recalls if a corporate executive might go to jail, they're going to pay more attention to protecting the public and lives on the highway. >> is this an example of companies using money and lobbying to get what they want from government and escaping liability they shouldn't have been able to? >> i think where they use their money and power was keeping the law waex. that's why we need the law upgraded and stronger. i think that in terms of their relationship with the nhtsa they didn't give information. they ought to be penalized. i think they will be. there's a requirement in the law they have to notify the agency within five days if they think there's a safety defect in their vehicle. delphi the supplier of this ignition switch told general motors it didn't meet specifications back in
fred upton, chairman of the committee worked on changing the law 15 years ago.e a leadership role in doing that. the agency is grossly underfu underfunded, very secrecy. we need criminal penalties and higher civil penalties so that the auto companies are deterred from refusing to do recalls if a corporate executive might go to jail, they're going to pay more attention to protecting the public and lives on the highway. >> is this an example of companies using money and lobbying to get what...
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he got an e-mail from congressman fred upton while the president was speaking respond to these numbersbasically saying they are based largely on the fact that it forced americans to pine government mandated coverage under the threat of penalties. they want hard evidence how many of these people were uninsured before signing up on the exchanges. the president said millions more but they did not have that hard number. onthis was good news today the health care front for the president. the idea that democrats in tight races will actually run on a, , that is not actually -- on obamacare, that is not likely. >> we will be back on "street smart." newest shipibbean's will be making china its new home. it will be docking in shanghai starting in may of 2015. for more, i'm joined by adam goldstein, the president and coo of royal caribbean cruises. we have been talking about the importance of this market for your business. what is the potential here and how is the chinese customer different from u.s. customers? >> this is very significant, the chinese are emerging as a wave of outbound travelers.
he got an e-mail from congressman fred upton while the president was speaking respond to these numbersbasically saying they are based largely on the fact that it forced americans to pine government mandated coverage under the threat of penalties. they want hard evidence how many of these people were uninsured before signing up on the exchanges. the president said millions more but they did not have that hard number. onthis was good news today the health care front for the president. the idea...
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energy and commerce committee chairman fred upton said while her job of overseeing the law is over, his to get answers for the american people will continue. sebelius notified her decision to step down in early march. the president is expected to make the announcement official later this morning at the white house. president obama will announce his intent to nominate the current office of management and budget director sylvia matthews burwell to this position. the white house now says that 7.5 million people have selected insurance plans. that number surpasses the administration's goal and is higher than many people were expecting a few months ago. ross, back to you. >> thanks so much for that, jackie. have a good day. just days after the enrollment period. >>> let's remind you where u.s. futures are currently trading at the moment. the dow was just around seven points above fair value. the s&p is on it, the nasdaq is trading low after a big sell-off yesterday. european stocks are heavily into the red as well. we'll look ahead to the trading day, coming up. huh, fifteen minutes could sa
energy and commerce committee chairman fred upton said while her job of overseeing the law is over, his to get answers for the american people will continue. sebelius notified her decision to step down in early march. the president is expected to make the announcement official later this morning at the white house. president obama will announce his intent to nominate the current office of management and budget director sylvia matthews burwell to this position. the white house now says that 7.5...