you're going to see fritz henderson with our phil lebeau.imagine... one scooter or power chair that could improve your mobility and your life. one medicare benefit that, with private insurance, may entitle you to pay little to nothing to own it. one company that can make it all happen... your power chair will be paid in full. the scooter store. hi i'm dan weston. we're experts at getting you the scooter or power chair you need. in fact, if we pre-qualify you for medicare reimbursement and medicare denies your claim, we'll give you your new power chair or scooter free. i didn't pay a penny out of pocket for my power chair. with help from the scooter store, medicare and my insurance covered it all. call the scooter store for free information today. call the number on your screen for free information. >>> alibaba.com is the biggest commerce firm in the world. it said today second quarter profits fell 34%. it's spent a lot more on infrastructure, technology, advertising. the numbers did though come in way better than analysts were looking for. a

. >> susie: thas what general motor's co fritz henderson was hoping for as g.m. gathered wit consumers for a test drivef the new cars in stock. >> paul:stocks stumble. dickbovay says there trading on fumes, not reality. >> susie: it may be 100 degrees the shade in some parts of the country t the naon's retailers are thinng saters d coats for christmas they're busy thinking of new wayso ring up sales ts holiday ason. paul: i'm pau kangas. susie: i'm susie arib. this is nitly business report for use it, august 11th. th program was made possible by contributns to your pbs station from viewers likyou. thank you. 7//& captioning sponsored bwpbt >> susie: hazardous to the econy's health. thatas the warning today from the congressional watchdog monitori the government's bailout of the tion's banks. according to report from the congressional oversht panel, banks still have plenty problem loans on thbooks and thatould threaten the economi recovery. how bais this situati? stephanie dew talked today with the panel' chairwoman, elizabeth rren. >> how vnerable is the financia

. >> susie: that's what general motor's ceo fritz henderson was hoping for as g.m. gathered with consumers for a test drive of the new cars in stock. >> paul: stocks stumble. dick bovay says they're trading on fumes, not reality. >> susie: it may be 100 degrees in the shade in some parts of the country but the nation's retailers are thinking sweaters and coats for christmas. they're busy thinking of new ways to ring up sales this holiday season. >> paul: i'm paul kangas. >> susie: i'm susie gharib. this is nightly business report for use it, august 11th. this program was made possible by contributions to your pbs station from viewers like you. thank you. 7//& captioning sponsored by wpbt >> susie: hazardous to the economy's health. that was the warning today from the congressional watchdog monitoring the government's bailout of the nation's banks. according to a report from the congressional oversight panel, banks still have plenty of problem loans on the books and that could threaten the economic recovery. how bad is this situation? stephanie dew talked today with

fritz henderson, ce organizat ce company, has been doing twisting and texts. as i said, fritz henderson has done several webcasts, twittering with people on a regular basis. they're also instituting what they call a culture change committee. fritz henderson and several executives, a group of ant 20, meet at least a couple times a month, talk about whether or not they are reaching the public and are more responsive to what customers are looking for. this is all part of general motors trying to be more in tune with people and ultimately sell vehicles because, erin, at the end of the day that's what this comes down to, selling more vehicles. we're going to hear more from gm executives today. this ebay deal will get a lot of attention. it's only for california at this point. if it's a huge hit, look for them to spread it around the country. >> trying to figger oure out yo price. thank you, phil. >>> coming up, so-called accidental consultant who says that biz schools are bogus and partly because of the financial crisis. what does he suggest you do, two years, get

ceo fritz henderson makes a major call today. and not so fast, the judge refusing to rubber stamp that settlement between bank of america and the s.e.c. on merrill bonuses as squawk begins right now. >>> good morning, everybody. welcome to "squawk box" right here on cnbc. i'm becky quick along with joe kernen and carl quintanilla. the economy is front and center today. the federal reserve starts a two-day policy meeting. the central bank is widely expected to leave its key target lending rate near zero. but market watchers will look for signals on the fed's other programs. at 7:30, we'll get the nifb aechgs small business survey. we'll get the findings live, complete with william did you thinkelberg's findings. 90 minutes later, we'll get the wholesale trade numbers. we'll see exactly how much employers were ringing out of their employees to try and make sure they made some of these profit numbers we saw when we got the earnings. >> the anchors in addition to earnings central, right, joe? >> i don't know how you want to call it -

fritz bauer is not jewh. >> host: fritz bauer is wish, yes. t he is how it came t and this is one of the most scinating pts about this story i think because it does invoe aot of ordiny people who ended up getting eichmann captured. it started with the young woman named sylvia harman, actually argentina, who was ding a young man named nk eichmann and qnbeknownst to here was the son of adolf eichmn. sylvia who w the daughter of a camp survivo who had come to argentina, to start a n life. his naee was lutr hermine he was he u wis yes. ha happens is she is dating him and nick comes over to dinner and began spouting off this hate speech essentially that theermans would have been better o finishing their job with the jews. the relationship between nick and sylvia breaks off for obvis rsons but-- hes lf jewish in she maythat never kno becse as you mention in the book, the family dn't,idn't consider itself u.s.. >> host8, the family didn't aonsider itself jewish. it had largely abandone the faith an didn't mention it because necessarily to mention are

fritz henderson as the automaker sws off its 20 models to consumers. >> susie: warning today from one of the world's biggest stitutional investors: "stat street. in aegulatory filing, the boston firm id it's burned rough more than two-thirds o a $625 million fd created to handle lal claims. it may need to raiseore money. some customers sd, saying they believed they re being sold low-risk iestments. but instead ey lost money from subprime mortge exposure. >> paul: the swiss gernment took a break from its summer cation today, to hold a ecial meeting over banking giant u.b.s. the ba is negotiating with the i.r.s. on handing over theames of u.s. clients suected of evading taxeby hiding money in secret u.b.s. accounts. the swiss cabinet won'release details until a deal is reacd. on wednesday, bo sides will update a fedal judge on their on negotiations. >> susie: tonight's commentor wants regulators to crease the capitarequirements of banks. he's richard dekaser, esident of woodley park resech and the formerhief economist of national city corporation. >>eporter: most people would agree that

fritz henderson as the automaker shows off its 2010 models to consumers. >> susie: a warning today from one of the world's biggest institutional investors: "state street. in a regulatory filing, the boston firm said it's burned through more than two-thirds of a $625 million fund created to handle legal claims. it may need to raise more money. some customers sued, saying they believed they were being sold low-risk investments. but instead they lost money from subprime mortgage exposure. >> paul: the swiss government took a break from its summer vacation today, to hold a special meeting over banking giant u.b.s. the bank is negotiating with the i.r.s. on handing over the names of u.s. clients suspected of evading taxes by hiding money in secret u.b.s. accounts. the swiss cabinet won't release details until a deal is reached. on wednesday, both sides will update a federal judge on their on negotiations. >> susie: tonight's commentator wants regulators to increase the capital requirements of banks. he's richard dekaser, president of woodley park research and the former chief economist of na

we're doing to be talking with fritz henderson when he shows up and more of his comments later on. guys, back to you. >> thanks. any idea about other ways they might be considering getting more connected to customers, things bandied about that we might hear from fritz later today? >> the biggest thing, they have to find a way to break the old model. the old model, do newspaper, online ad, tv ad. what they are finding when we they talk with people that a lot of people, they think of general motors, they think it's toxic. the brands, however, cadillac, chevy, gmc, those have not been damaged so much. they are trying to find a way to advance the brands. that's why when you look at ebay you'll find chevy having its on site. >> last car i bought was online, dealer went out and found it, did the due diligence, did the deal with the on site dealer. all we had to do was show up with the check, pay the car and drive away. it was it is easiest thing ever. if that's the future, sign me up. >> market strong, hedge funds making a comeback. money coming in. how will they invest it. last two kent

let's talk a little bit more with fritz henderson. he's coming to us from one of gm's facilities in michigan. mr. henderson, thank you for coming in. >> hi, wolf. >> are you worried that selling cars on ebay will further hurt a lot of those dealerships, not only in california, but if it goes national, across the country. so many of the dealers are in trouble if you can eliminate them, they're going to be in further trouble. >> first, wolf, when we did the partnership with ebay, we committed to ourselves and to our dealers we would do it with dealers. 225 dealers are participating in california, that did it voluntarily, because they thought it was an interesting thing for us to experiment with. it takes the showroom into the living room. and, it allows the consumers a series of choices in a more comfortable environment. we had very good support. we wouldn't do it without the dealers with us. >> won't they be making a lot less per car sale via ebay rather than selling direct? >> i think that remains to be seen. like any experiment, this

you can see fritz henderson talking to an audi driver, and the guy says that he will go out eventually to buy a gm car. neil: so, maybe they are back and they have had a few cars that are good, but you think it is too little too late? out that the perception that general motors is a loser is out there and it cannot be shaken? >> there has got to be something about that perception. go to a chevy dealer. neil: are they serving lobster and ice cream? >> maybe they should be. you know what? these businessmen have to make a living off of operating profits, but general motors is just going to raise your taxes. thank you, al. neil: a doctor that could you? how about a congressman. (announcer) illness doesn't care where you live... ...or if you're already sick... ...or if you lose your job. your health insurance shouldn't either. so let's fix health care. if everyone's covered, we can make health care as affordable as possible. and the words "pre-existing condition" become a thing of the past... we're america's health insurance companies. supporting bipartisan reform that congress can build on

fritz would have a good laugh at teddy and me sitting together at fenway park.was a very cold night, we decided to go. i said teddy, i'll get a seat upstairs in the luxury boxes. he insisted we stay out in the skybox so to be with the people. by the fourth of fifth inning, senator kennedy finally leaned over to me and said, mayor, i love the people. but it's freezing my bottom off. i'll always be thankful that he worked so hard to bring the democratic national convention to boston. it put our city on display to the world, but it also gave senator kennedy and me reason to spend so much time together. we worked hard. we worked relentlessly. we had tremendous fun doing it. we played so much good cop-bad cop that i couldn't remember sometimes what role i was supposed to play. senator kennedy would say to the person, john, umm, i would like to see $1.5 million from you folks. half an hour later, the person would call me up and say does he really mean that? i said i suppose if you gave us $1 million we would be happy. that's what happened so many times when we were ra

and fritz in ohio said, "i am not concerned at all about china earning a number one position in wind energy. this energy form is so inefficient the only way it works is under heavy government subsidies." and then there's all those birds. i just threw that part in. but it is interesting to think about the entire debate that's going on right now on wind and solar and what makes sense and what we really should be subsidizing right now. maybe china is making the bigger mistake. part of a broader conversation. we'll continue to have it right here on "street signs." we're going to hand it off to "the closing bell" with markets right near their high of the session. it's time now for "the closing bell" with maria. >> announcer: this is cnbc.com "news now." >>> bank of america settled s.e.c. charges of making false and misleading statements regarding the payment of bonuses related to its merrill lynch acquisition. the journal reports that president obama's acting cyber czar, melissa hathaway, has quit to return to the private sector. >>> and ford's july u.s. sales rose 2.3%. chrysler posted a

. >> i spoke with my former boss, senator fritz, and said he could support a co-op plan at the state lef level or the local plan. >> no one knows what a co-op plan is. >> it's complicated -- >> it's a theory. >> it's a theory. getting back to paul's point, republicans can support a bipartisan plan. >> amy holmes, presht it, paul begala, david gergen. >>> levy >>> randi kaye is live with the latest developments on that. later, a swimsuit model stuffed in a suit kate case left in a dumpster. the question is, who killed her and why do police to want talk to her ex-husband, a former reality show contestant. he ran off with his secretary! she's 23 years old! - oh, come on. - enough! you get half and you get half. ( chirp ) team three, boathouse? ( chirp ) oh yeah-- his and hers. - ( crowd gasping ) - ( chirp ) van gogh? ( chirp ) even steven. - ( chirp ) mansion. - ( chirp ) good to go. ( grunts ) timber! ( chirp ) boss? what do we do with the shih-tzu? - ( crowd gasps ) - ( chirp ) joint custody. - phew! - announcer: get work done now. communicate in less than a second with nextel direct

in fact, we have fritz henderson speaking about what makes this program tick. let's take a listen to that. >> customers will buy actual vehicles just like they do on ebay. by determining the option or by negotiating online. you can do all your research and price negotiation online in the comfort of your own home. >> a lot of people like the idea of being able to do that at home. john roberts brought this up earlier. you may want to go to a dealership and check out the car first and then come back and buy it because, you know, it might be nice to find out you don't like where the cup holder is. a network of 25,000 vehicles to pick from. >> did you say you may not like where the cup holder is? >> yeah. i was being funny. maybe it's the fuel economy. you have it keep it light every now and then, tony. >> stephanie, appreciate it. thank you. we want to check out our special report "america's money crisis." >>> here in atlanta, long lines right now outside the georgia world congress center where major lenders are gathered to help homeowners lower their monthly payme

fritz henderson has the board's support, but he has to show those results. >>> sony is unveiling twoew e-book readers today. it has a five-inch screen and costs $100 less than the kendall device. the other devices have a tough screen allowing users to highlight text and take notes. neither is wireless, though, so u to plug is into a kohlschreiber to download those books. could see some competition there with amazon. >> can they get those screens any flat sner. >> it's amazing technology. it really is. >> thank you. >> thank you, keith. >>> time is now 11:49. 83 degrees outside. still ahead the fitness craze to help you drop some of those pesky pounds. >>> plus meteorologist tom will be back with another check on the forecast. >>> we're looking for people who make the day special in the rly morning hours. if you know someone like,atth e-mail their story and a clear close-up picture orideo to morning person at ngcwhitoastn.com, andn. >>> a florida schoolteacher has been suspended from a classroom after he was caught on a cell phone video allegedly choking a student. this video made nat

with new ceo fritz henderson at the helm, it's part of the automaker's plan to reimage gm and broadento younger buyers by expanding showrooms from parking lots to laptops. >> and we are well on our way to succeed. >> reporter: out with the old, in with the new. the ebay site will let customers know if their current vehicle will -- the senate voted to give the cash for clunkers program another $2 billion because it's been such a smashing success. >> almost 2 to 1 under our survey, people have been buying these more fuel-efficient cars and have been getting the $4,500 voucher. >> reporter: so many trading in their clunkers to buy more fuel-efficient cars. under the program, the clunkers can't be resold whole. the engine must be destroyed. >> we're locked up. >> reporter: part of the shift toward more energy-efficient cars. and easier ways to buy them. leeann gregg, news4. >>> and that's it for "news4 at 4." i'll see you again at 6:00. "news4 at 5" starts right now. >>> tonight on "news4 at 5," a dog rescuedfter being thrown into a dumpster. tonight, the search for whoever it was that di

. >> reporter: withew ceo fritz henderson at the helm, it's part of the plan to reimage gm and broadingappeal to younger buyers by expanding showrooms from parking lots to laptops. >> and we are well on our way to succeed. >> reporter: speaking of out with the old, in with the new, the ebay site will let customers know if their current vehicle will qualify for the government incentive program to get big gas-guzzlers off the road. last week, the senate voted to give the cash for clunkers program another $2 billion because it's been such a smashing success. >> almost 2 to 1 under our survey, people have been buyin these more fuel-efficient cars and have been getting the $4,500 voucher. >> reporter: so many trading in their clunkers to buy new fuel-efficient cars that some dealers worry they'll run out of certain models. under the program, the clunkers can't be resold whole. the engine must be destroyed. >> we're locked up. >> reporter: part of the shift toward more energy-efficient cars. and easier ways to buy them. leeann gregg, nbc news. >>> we have a programming note. we have an announ

. >> i spoke with my former boss, senator fritz, and said he could support a co-op plan at the statelevel or the local plan. >> no one knows what a co-op plan is. >> it's complicated -- >> it's a theory. >> it's a theory. getting back to paul's point, republicans can support a bipartisan plan. >> amy holmes, appreciate it, paul begala, david gergen. >>> coming up next, levi johnson's mom could be returning to jail. and the latest developments on michael jackson. later, a swimsuit model stuffed in a suit kate case left in a dumpster. the question is, who killed her and why do police to want talk to her ex-husband, a former reality show contestant. get advil® liqui-gels. faster and stronger on tough pain than tylenol® rapid release gels®. advil® liqui-gels. liquid fast. advil strong. act fast. check august 23rd newspapers for special advil liqui-gel savings. others by the car of their dreams. during the lexus golden opportunity sales event, you can do both. special lease offers now available on the 2009 is 250. >>> i want to update you on another top story, a new development in the mic

fritz henderson explained exactly how such a high mpg is possible for the volt. >> very simple.the volt can travel up to 40 miles on a single battery charge before the flex fueled power generator kicks in to extend the overall range to more00 miles. three-quarters of americans commute fewer than 40 miles per day, you can commute without using a single drop of gas. >> the chevy volt is expected to hit show rooms by late next year with a sticker price of about $40,000. >>> the new volley is just one of the many ways general motors is reinventing itself post-bankruptcy. cnbc's phil lebeau joins with us more on this. how much mileage is gm's stock going to get from this volt announcement? >> reporter: considering this is a private company, eventually when it is a public company again and there's stock to be traded, it could get a huge boost from this. keep in mind the volt does not go on sale until late next year. by then general motors will be a publicly traded company. if this car can deliver anything close to 230 in terms of miles per gallon, the potential here is enormous. ultim

fritz hendersosaid the volt will tvel up to 40 miles on a single batry charge. after that, a small gasone engingenerates the electricity. >> three quarters of america commuteewer than 30 miles a day, most voltdrivers will erate on a dai basis without havi to use aingle dro of ga. incidentallyit's also much less expsive to drive a car with electricity. in detroit, for example, you can char the volt at night, off peak for about five cen per kill wat hour which means a full 40-mile charge of the volt will costabout 40 nts. >> lehrer: the vo could cost arou $40,000 when it hits deal showroomsext year. henderson said the price is expected to co down in future ars. he also acknowledged pluing in thear will be a problem for ople in apartments. ultimately, g.m.xpects charging stations to meethat demand. medicaresearchers may have found anothecritical use for pirin. a new study indates it could cut the risk of death colon cancer paties by 30%. the findings are in t "journal of t american medical association." the patients took aspin in conjunction withurgery and chemothe

some are not able to kick the habit, like 17-year-old bethany fritz, who died of a heroin overdose in004. since then, kittery police say another four from the area have died, all in their 20s. why maine? >> little kittery, maine, people think wow, nothing goes on up there, law enforcement is way behind the times. it's just a relaxed, i can blend in better up there. >> reporter: it never ends. the day of our visit, a heroin arrest is front page news. how hopeful are you that you can fight this and win? >> we're never going to win. i really don't think we're ever going to win. but if we weren't up there, think how bad it would be. for every one we get, maybe ten get away but we're still going to stay in the fight. >> reporter: drug counselors say heroin addiction often begins with a simple prescription for oxycontin, a painkiller and like heroin, also an opiate. the patient gets addicted to oxycontin, needs more and more, begins to doctor shop, then realizes you can get the same high on heroin for a tenth of the cost. you do the math. $50 a pill versus $5 a hit. heroin is cheap. it's av

fritz henderson said the volt will travel up to 40 miles on a single battery charge. after that, a small gasoline engine generates the electricity. >> three quarters of americans commute fewer than 30 miles a day, most volt drivers will operate on a daily basis without having to use a single drop of gas. incidentally, it's also much less expensive to drive a car with electricity. in detroit, for example, you can charge the volt at night, off peak, for about five cent per kill wat hour which means a full 40-mile charge of the volt will cost about 40 cents. >> lehrer: the volt could cost around $40,000 when it hits dealer showrooms next year. henderson said the price is expected to come down in future years. he also acknowledged plugging in the car will be a problem for people in apartments. ultimately, g.m. expects charging stations to meet that demand. medical researchers may have found another critical use for aspirin. a new study indicates it could cut the risk of death in colon cancer patients by 30%. the findings are in the "journal of the american medical associa

some of you might recall that it fritzed some of our systems. carrington event happened in 1959 where it was melt on the poles. railroad ties burst into flames. electrical sparks were shooting out of the telegraphy systems. it blew out a fair amount of the telegraphy systems. if that event of a solar storm happened today, it could emp the whole world. if it lasted for 24 hours. one rotation of the earth, 24 hours, most of the world. let me provide an analogy. one of my greatest heroes in developing this is congressman roscoe bartlett, a representative from frederick, maryland who headed up through the republican side. let me emphasize this is a bipartisan issue. i wish we could agree on a bipartisan basis that we'll be all in the same sinking ship. the issue of ballistic defense might not excite you so much and maybe green environmental issues do. therefore, please look at the carrington event. such a solar storm today would do the identical thing that you and i are talking about. well, congress in bartlett i-analogy is this. would we own a hous

this morning in michigan, gceo fritz henderson announcing volt late next year, and according to estimates, 230 miles per gallon, according to gm, the volt will cost roughly about 3 cents per mile to drive. and according to vice chairman bob lutz, this may be a conservative estimate. >> we're very confident in that 230, and to tell you the truth, we discounted it a little bit, because we hope that in the final third, i wouldn't be surprised to see it even higher than that. >> keep in mind, the chevy volt, which is powered by a huge lithium ion battery pack provides a 300 mile range. in other words, fully charged with the gas assist engine, recharging the electric motor, you can go up to 300 miles. the volt's battery, by the way, being developed by lgkem here in the detroit area. for more on why this may be a game changer, check out behind the wheel.cnbc.com. keep this in mind when looking at the volt. it's a limited production model, when it first come out price tag expected to be about 40 grand. so the impact on the bottom line at gm is going to be no impact. right off the bat. of it's go

. >> fritz mondale was the heir apparentf 1984. >> but he knew if ted was going to run he dent have ae, so he was sitting on pins and needles, waiting for ted to make up his mind. and ted had reagan, a very popular president, he had chappaquidick that had ruined him in the 1980 campaign that he knew was going to come back through his experience and sabotage him throughout his campaign and his kid didn't want him to do it either and the lae reason given is usually his kids didn't want him to do but there had to be other reasons why peter didn't run. >> so the arc continues. he doesn't run, doesn't run -- he runs in 198 who, is beaten badly, doesn't run in 1984 and that's when i started covering the senator. it seems to me the lowest period in his career was what i saw late 1980's, early 1990's in which he seemed to be very nervous in public, unsteady, of course he had a back problems and his problems with gramma were the stuff of legend. i mean, we used to sit in the back of the rooms when he was doing a press conference and putter to ourselves, a predicate, senator, a predicate. i mea

fritz henderson and harry reid. >> former new york

fritz henderson says he is confident that the highway reading in terms of miles per gallon will be inriple digits. right now, boasts numbers like that one. >> how do they come up with the number? >> it's a great question. a special calculation according to gm as they've worked with the epa. let's compare it to a prius hybrid that gets 50 miles to the gallon. all of the energy for the car comes for burning gasoline. the volts will run 40 miles without using any gasoline at all. after that you've got a gas engine that kicks in to power the battery which then in turn powers the car. if you're going longer distances than the 40 miles you're not going to get the 230 miles per gallon. if you drive 80 miles in a row on the volt the fuel economy will fall to about 100 miles per gallon. if you go 300 miles. fuel economy is going to fall to 60 miles per hour. it depends on how far you're going and the calculation changes for there. >> it's a cool looking car, too. fuel economy aside, we are in a recession. are they making a big bet on a car that a lot of people may not buy? >> they're getting a

fritz anderson, the ceo o, said he's confident the highway number will also be in the triple digits whenook at fuel economy, that could mean a much-needed boost for general motors. take a listen to the ceo. >> the bpa labels are yard sticks for customers it compare the fuel efficiency of different vehicles. having a car that gets triple-digit fuel economy can and will be a game changer for us. >> all right, still up in the air, though, heidi, despite that fuel economy, will people buy this car? we talked about it time and time again. i just spoke with a spokesperson from gm last night. he said the price range in the high 30s, so near $40,000 and also the lack of stations that could be an issue unless you have a garage that you could charge it. >> let's talk for a second about that number. the 230 miles per rating gallon. where exactly does that number come from? >> it's complicated right because this isn't just a driving test. the volt works differently than the other cars. you have the prius, that hybrid and that gets 50 miles per gallon and all the energy from the prius comes from burn

. >> reporter: with new ceo fritz henderson at the helm, it's part of the plan to broaden appeal to young buyers by expanding showrooms from parking lots to laptops. >> we are well on our way to succeed. >> reporter: speaking of out with the old, in with the new, the ebay site will also let customers know if their current vehicle will qualify for the government incentive program to get big gas guzzlers off the roads. >> bye, old girl. >> reporter: last week, the senate voted to give the cash for clunkers program another $2 billion because it's been such a smashing success. >> almost two to one under our survey, people have been buying these more fuel-efficient cars and have been getting the $4,500 voucher. >> reporter: so many trading in their clunkers to buy newer, more fuel-efficient cars that dealers worry they'll run out of certain models. under the program, the clunkers can't be resold whole. e engine must be destroyed. >> we'reocked up. >> reporter: part of the shift toward more energy-efficient cars. and easier ways to buy them. leanne gregg, nbc news. >> well, the trial gm ebay si

this morning at a press con fwrens in detroit, company ceo fritz henderson announcing that in their estimation based on their formula, the volt will get 230 miles per gallon, cost aboue 3 cents per mile to drive.th but keep in mind, even when it comes out late next year, it will be limited volume and have a limited impact on gm's bottom line. >> this is a small volume at this point, anyway. it's a small volume vehicle. so the impact will obviously be in public relations and goodwill. >> and, again, gm says the volt mileage was based on a formula it received from the epa, although, again, the epa has not certified the volt's mileage, and that lithium ion battery pack is being developed here in the detroit area. guys, check out more on the impact of the voluntarily's mileage. check out the blog, at cnbc.com. certainly a number that gets you talking, bill. much i heard you talking at the top of the show. you get 230 miles to the gallon? >> we do here on "power lunch." the question we have, though, is the infrastructure that it will take. you know, there are no -- there are gas stations around the

our ceo fritz henderson has opened up a line of communication. . . host: lots of ways to find more.hank you for taking our viewers calls. our guests was the line director for the chevy volt vehicle. in the next section, the mayor of indianapolis, indiana, to talk about how his city is weathering the financial crisis. in between, let us hear some morning headlines from c-span radio. >> the fight continues in afghanistan to clear the taliban from villages ahead of next week's presidential election. today, a british jet called in by u.s. marines had the taliban position in sight but the pilots refused to fire in an effort to protect civilians. the marines themselves a didn't attack militant shooting at them because women and children were in the compound, an approach meant to avoid civilian casualties at all costs. 18 years after being shot down during operation desert storm, navy pilot scott speicher is being brought home to his finer -- final resting place. his remains, found in the iraqi desert, are expected to arrive at the air station in florida. china may appeal a world trade org

some are not able to kick the habit like 17-year-old bethany fritz who died of an overdose in 2004.our from the area have died. all in their 20s. why maine? >> in maine people think, wow, nothing goes on up there, law enforcement's way behind the times. it's just a relaxed, i can blend in better up there. >> reporter: and it never ends. the day of our visit, a heroin arrest is front page news. >> how hopeful are you that you can fight this and win? >> we're never going to win. i really don't think we're ever going to win, but if we weren't, think how bad it would be if we weren't out there. for every one we get, maybe ten get away, but we're going to stay in the fight. >> and they are working around the clock, guys. it's really incredible. can you imagine? in the past two years they now triple the case load in terms of heroin cases. and it's incredible. drugs are literally being muled up from mexico where the president is right now as you know. drug's hot topic of discussion as always. >> you also said the root causes lie in prescription medication. >> that's right. it's so interest

. >>> right now, gm's ceo fritz henderson is holding a news conference.pictures you see are from detroit where they are formally cutting the rib on , shall we say, looking to make up some of the lost market share. talked yesterday about how some gm dealers in california for one month, this is a trial, are going to be offering new gm cars for sale on the ebay website, and the idea is that you could get all of the discounts that you could get from going in and haggling without actually having to do that, having to go in and haggel and know all of the skills. you can try it out on ebay, very interesting. >> this is from the dealers, right, so you would go and pick up your car locally? >> yeah, that's right. so you could order it online, see all of details would you know about at the dealer, do a test drive at the dealer, too. but the buying of it, you figure out the price on ebay and then pick it up at the local dealer. we'll see if it catches on. >>> a big question, right? is the government stimulus spending working? well, with some of those new -- like the

. >> 1984 fritz mondale expects ted kennedy will be theominee. that's pretty amazing than mondale was the apparent in 1984. >> he knew if t was going to run he didn't have a chance said he was on pins and needles waiting fored to mace up his mind, and ted had reagan, popular present come hill chappaqudick renehan in the 1980 campaign that he knew was going toome back from experience and continue to savage and throuout his campaign. and his kids didn't want him to do it this time either and the large reason given his kids didn't want to develop their hat to the oth reasons as peter says about why he didn't run. >> so the ark continues. he doesn't run. he runs and 80 and is beaten badly,oesn't run in 84 and that is about when i started covering the senator and i remember it seems to me the lowest piod in his career is what i saw in the late 80's, early 90's in which he seemed to be very nervous in public, on steady. of course he had a back problem and his problems with grammar were the stuff of legd. we used to sit inhe back of the room during the

. >>> gm ceo fritz henderson will make an announcement about the company's products.e automaker revealed plans to sell products on ebay. give customers the option of avoiding showroom sales people. >>> and 3:00 eastern, bernard madoff's right-hand man is expected to plead guilty to criminal charges. frank depascali agreed to enter the plea in a federal court in manhattan. buy a car on ebay? >> no. get in there, feel it, see what it's like. >> i remember when i was a kid -- i know it was after the extinction of dinosaurs. that's the thing you did in the fall is go around in the dealerships and see the new cars, you know? we're talking about 1968 models here, but what the heck, it was a lot of fun. >> if you were my parents, you went dealership after dealership and rode car after car after car. >> it was 1972, the dodge super b came out. the wing on that. what a year it was. they cleaned up in nascar as well. >> show me pictures. ♪ memoirs >>> 47 minutes after the hours. jacqui jeras in the weather center in atlanta for us. would you buy a car on ebay? a lot of people d

you may not expect a former republican senate majority leader to roll up in a toyota prius, but bill fritz advantage of the cash for clunkers program. he turned in an old suburban and got the toyota prius. he talked to democratic chairman howard dean and larry king. >> we understand you traded a '91 chevy suburban for a prius,t i'm going to get 50 miles to the gallon. my 18-year-old suburban is going to have -- that's junk put in it, going to kill it, i'm very sad, but the taxpayer gave me $6,000 to do it so i'm out there driving my prius. >> thank you, both. >> i'm about to do the same but going to get a ford escape because i like to buy american. >> oh. >> oh. cash for clunkers was so successful, by the way, it sold a quarter million cars and burned through the first $1 billion from congress in ten days. >>> 10 minutes to the hour. okay, travelers sitting there at the airport terminal, i got your guy right here. what here is bob with more on how your flight's going to go. >> what's up, robin? one delay right now due to weather, that's it. san francisco, an hour-long delay. that's going t

our ceo fritz henderson has opened up a line of communication. . . from the national history museum in new orleans this is 50 minutes and under. >> a funny thing happened on the way to the museum. i was in washington, d.c. earlier this week to attend the congressional reception held by the gold star wifes in honor of legislators, congressmen and others who had helped increase benefits for the families of servicepeople who had served in iraq and afghanistan. and while shmoozing around the crowd i found myself-looking man wearing a navy uniform. i gave him my business card and began telling him my story, very abbreviated. he said, "stop. i know this story. it's in tom brokaw's book." which it is. but i was absolutely astonished that this man, admiral mike mullen who's the chairman of the joint chiefs of staff, would know my story. telling this story is so difficult for me to tell so i ask for your patience if i stumble. until relatively recently on my lifeline my father was just one of among many of more than 78,000 american servicemen still missing fr

our ceo fritz henderson has opened up a line of communication. . . thank you very much for telling our audience about the volt. lots of ways to find out more. we appreciate you taking our calls. >> i think we're having these large turnouts because of the health-care issue. so i wanted to bring up, because there's been a lot of concern and legitimate concern expressed about what my views might be and what i am doing in washington, whether i'm listening to the people iowa. first of all, i want to express to you that i think we have the best health-care system and the world. it does not mean it is perfect. there are things that can be improved. in this costly, some people have a hard time getting health insurance. it is awfully expensive. >> members of congress around the country are holding meetings with constituents on health care. here's a look at some of the advertisements that they are facing during the august recess. >> for six years, and have been here in nebraska. last week, health insurance agent called, and told him i rates would go up 42% fro

tonight, gillian tests, fritz henderson and senate majority leader harry reid. >> this fall, and to therica's highest court, from the grand public places, to those only accessible by the nine justices, the supreme court, coming the first sunday in october on c-span2 -- un c-span. >> now a discussion on technology issues facing congress and the obama administration including cybersecurity, national broadband and government information technology. the lobbying group tec america hosted this group in washington, it is about an hour. >> they will not serve a tech policy in washington. to that end i wanted to introduce phillip bond as soon as he put on his microphone, president of tech america. he will have a few opening remarks to kind of the lay of the land of the various issues that we have been watching and what we are looking for in the fall and then we have a number of our policy experts on hand and on the phone as well to facilitate what we hope will be a fruitful q&a session for all of you. >> thank you very much. can you pick it up or not? >> bear with me for one minute. i am technol

were not making up this argument about the decrepitude to use the fritz's term of the russian army. this is the chief of staff in the russian military press getting up there and lying out in exquisite detail all of the failings of the russian army. when you're chief of staff gets up in public and said this army is not ready for prime time, that's a pretty damning indictment. it's much worse than anything i could have said. so we're not out to bash the russians. this is reporting what they see themselves about their own situation. and the corruption and criminality thing that dale has cited which i have read as well, are rushing to get there they are not cia or american figures. again, this is the latest from the standpoint. not mine. as far as the pugnacity of foreign policy, yes, i'm afraid they have not learned to bece more circumspect in their rhetoric and policy even though there's a major financial and economic crisis. and i'm concerned that this crisis might actually lead the to do something rash. you know, there's a famous line by a source statesman in the 19th century who ta