but what about those old g.m. shares? as darren gersh explains they're still virtually worthless. >> reporter: it was stunning news. last friday, a reborn general motors peeled out of bankruptcy far sooner than anyone thought. and shares in g.m. jumped on the news. the only problem is, there are no shares in this new g.m. >> they were buying a corpse when they thought they were buying a baby. >> reporter: finance professor james angel said many would-be investors thought they were buying the new, post-bankruptcy g.m., when, in fact, they were buying g.m.'s cast off parts-- the assets that are still languishing in bankruptcy court and might be stuck there for years. >> many of the online news wires basically said "general motors, gmgmq today emerged from bankruptcy. " so many people thought, ah ha! i can buy stock in the new company now, but it wasn't the new company they were buying. it was the corpse of the old company. >> reporter: when g.m. went bankrupt, its old stock got a new trading symbol-- gmgmq. that confused so

and shares in g.m. jumd on the news. the ly problem is, there are nohares in this new g.m. they were buying a corpse when they thout they were buying a baby. >> reporter: fince professor james angel sa many would-be inveors thought they were bung the new, post-bankruptcy g.m., wh, in fact, they were buying g.m.'s cast o parts-- the assets that arstill languiing in bankruptcy court and mit be stuck there for years. >> many of the online news wes basically said "neral motors, gmgmq today emerd from bankruptcy. soany people thought, ah ha! i cabuy stock in the new company now, butt wasn't the new company they were bung. it was the corpse the old coany. >>eporter: when g.m. went bankrupt, its d stock got a new ading symbol-- gmgmq. that confused somenvestors so relators have given the old company a new name-- mots liquidation company. the financial instry regulatory authoty's john gannon wantsveryone to know buying stock in motors liquidatioor any bankrupt company usually means you ar buying a lemon. >> people who thin if they buy >> reporter: regators did not haltrading in the

that g.m. makes. >> couric: and how long will taxpayers own the company? >> reporter: that's the big question here. very hard to say. the government says it wants to get out of the car business as quickly as possible but they've got to wait until g.m. is running smoothly again. in this economy, that could be a while. >> couric: finally, what about warranties? the big question for everyone who has a car. here's what g.m. is saying. it will continue to honor warranties for a vehicle sold before and during bankruptcy. second, it will honor lemon law claims. and finally, it will continue to service any brands like pontiac that may cease production. so new company, same service, they're claiming. >> couric: all right. anthony mason. as always, anthony, thanks so much. our next story tonight is nothing short of outrageous. imagine finding out someone dug up your loved one's final resting place, removed the body and then resold the grave. that's what the police say was going on at an historic black ce

but deite the streamlining, g.m. has accomplished in bankruptcy, global iight auto analysrebecca lindland says the company is not out of e woods yet. they've been in the hospita and they aren't ing to just

but despite the streamlining, g.m. has accomplished in bankruptcy, global insight auto analyst rebecca lindland says the company is not out of the woods yet. >> they've been in the hospital and they aren't going to just spring back to health. there has to be a measure of patience so we do want to see continuing steady progress. the patient needs to start feeling better every day. >> reporter: while both the u.s. economy and economies around the world are still sputtering. last month the company's sales were off more than 30% compared to the same period a year ago. lindland says plunging home values and rising unemployment are keeping many consumers from showrooms. she doubts the economy will make a u-turn anytime soon, making a quick recovery for g.m. extremely difficult. >> they have to get the consumer back into the showrooms and they have to get new consumers into the showroom, at the same time preserving existing customers which is really going to be tough because there are a lot of people who own a g.m. product no

g.m.'s reputation and put 60% of the automaker in the hands of a potentially meddlesome federal government. its new government-imposed boss-- former at&t chairman ed whitacre-- admits he's never been a car guy. but he sees the ingredients for success nonetheless. >> all the raw materials are here for this to be not only an american success but worldwide success. >> reporter: indeed, in the midst of the company's catastrophic decline comes a glimmer of hope in the shape of the new 2010 camaro. g.m. is selling more of these camaros than they can make. they're working overtime to produce them and you still have a six-week wait to get one. but the new g.m. will not include pontiac, hummer, saturn, and saab. only buick, chevy, cadillac and g.m.c. made the cut and that means 14,000 hourly workers will no longer be needed, for about 4,000 white collar employees. g.m.'s dealerships-- nearly 6,000 strong-- were relics of past success and will be trimmed by 2,300 unless congress gets in the way, that

but deite the streamlining, g.m. has accomplished in bankruptcy, global iight auto analysrebecca lindland says the company is not out of e woods yet. they've been in the hospita and they aren't ing to just spri back to health. there has to be a measure of patienceo we do want to see continuing steady progress the patient needs to start feeling better eve day. >>eporter: while both the u.s. economy and economs around the worlare still sputtering. last month the company'sales were off morthan 30% compared to the same period a year ag liland says plunging home values and risinunemployment are keepinmany consumers from showrooms. she ubts the economy will make a u-turn anytime soon, makg a quick covery for g.m. tremely difficult. they have to get the consum back into the shrooms and they ha to get new consumers into the showroom, the same time preserving existing cuomers which is really going to b tough because the are a lot of people who own g.m. product now that are kind of offend that they took goverent money and they

a new partnership with ebay at will let custors buy g.m. cars line.urn of bob lutz: the legendary auto execuve will postpone retiremt to take charge of the eative development of pducts and custom relations. the launchf a "tell fritz" bsite where the public can email estions directly to the c.e.o.. and the coany also expects to repay the $50 billion in gornment loans ahead of the deadline in 2015. when i talked th henderson thisorning, i began by asking him what's hislan to get consumers shping again in g.m. showrooms. >> we're vy enthused about thept the products that 're launching toy are winning, vehicles like and wve got ek win knocks, wehave a lot of products gettingeady to come in. but it'sbout the cultu of this gm -- in the future about carscustomers and culture and in this case it's about taking those hicle launches and then suppting them the very beswe have in some of the marketing and brand adverting and frankly delivering as much punch as we can in the mket to let cuomers come backlooking at it swdz south you say the customer is the ceer of

brenda: g.m. emerging fr brenda: so what company gets out of bankruptcy but needs $50 billion from uncle sam to stay out? your company, the u.s. taxpayer-owned general motors. eric says that's $50 billion good reasons for to us get out of g.m. for good, huh? >> well, here's what g.m. has become. basically a welfare program that happens to build cars. unfortunately, look, here's what you end up with. you end up with g.m., $50 billion, $80 billion in the hole who can't compete with ford, they can't compete with honda. the bottom line, is bend, the same old car company, the same old cars that people just don't to want buy. by the way, the only ones benefiting from g.m. right now, the u.a.w. and the c.a.w., canadian workers. brenda: pat, do they have a shot? >> i actually think they do have a shot. i mean, they're not going to pay back the full $50 billion because they're never going to be that profitable, so let's just write that off right now. but we need to stop anchoring on the g.m. of 50 years ag

overall, g.m. will employ 64,000 american workers by year's end.; that's down from 91,000 at the end of last year. and those left have agreed to major concessions to cut labor costs. g.m. has also cut ties to 2,400 dealerships across the country. i spoke with the company's c.e.o., fritz henderson, earlier today. >> fritz henderson, thank you for talking with us. i guess congrat liss are in order for coming out of bankruptcy so quickly. you laid out a very optimistic time line today. that you're going to be -- become profitable again quickly, you're going to pay back the government quickly. what do you base that optimism on? >> well, judy, thank you, first of all. when we developed our projections and our plans even in mid to late april what i talked with about today were, you know, what our indicators, what our operating indicators projecting property canned cash flow back then, we don't see anything that suggest those should change today. so how does that happen? we significantly improve our cost

as it sex exists is going to be g.m. cadillac. they make their money on big cars and trucks. they have to learn thousand make small cars and do it fast. >> can they save many jobs. >> probably not. the 21,000 that they identified as being eliminated this bankruptcy process has allowed them to stream line and those jobs are probably lost. >> any word and this might be a little premature on when g.m. might be able to pay us taxpayers back. >> the u.s. government is saying as soon as practical, they want the u.s. government to, you know, exit its investment. personally between you and me that 300 million americans i'm putting deliberates on a pontiac solstice. give me a car. you can have the cadillac. rick: adam, thank you very much. from the fox business network. all right. it is now official. bernie madoff will spend the rest of his life behind bars. word today the convicted con man will not be appealing his sentence. a judge sentencing madoff to 150 years in prison for ripping off almost $65 billion in what has been called the biggest

new partnership with ebay th will let custome buy g.m. cars onne.ern of bob lutz: the legendary auto executi will postpone retiremento take charge of the crtive development of procts and customerelations. the launch oa "tell fritz" weite where the public can email qutions directly to the c.e.o.. and the compy also expects to repay the $50 billion in government loans ahead of th deadline in 2015 when i tald with henderson is morning, i began by askin him what's his pn to get consumers shopng again in g.m. owrooms. >> we're verenthused about thept the products that wee launching toda areinning, vehicles like -- and we' got ek win knocks, we ve a lot of products getting rdy to come in. but it's aut the culture of this gm -- in the future about cars, stomers and culture and in this case it's about taking those vecle launches and then supporng them the very best ve in some of the marketing and brand advertisg and franklyeliving asuch punch as we can inthe mart to let custers come back oking at it siez south you says the customer is the cent of everything

they have done something that nobody at g.m.hought they could do, move this fast for such a lumbering company. they have cut their debt by over $120 billion. they put a guy who thinks that global warming is a crock of something that starts with s in charge of corporate communications. when i talked to fritz lender son a couple of hours ago, i asked him to go ahead and sell his car to the american public. he looked straight into the camera and here is what he said. >> first of all first of all, thank you for the support and the second chance we have been provided. second, it is our job to prove your trust and to just phi your trust. we have fantastic cars and trucks. we can win. general motors can be rebuilt. >> there you heard it from him. he seems to be pretty passionate about it, chris. chris: what do we expect in terms of specific actions from henderson and the rest of the g.m. team in the next few weeks? >> i will tell you, we will get firings in the corp. spratt suite at the renaissance sweet -- in the corporate suite at th

. >> the new g.m. getting big welcome out of bankruptcy gift for uncle sam and it could help the company thrive. the auto maker is being allowed to carry forward a large amount of previous losses on paper that were held by the old g.m. that will allow the new g.m. to avoid paying taxes on profits for several years. that move is it expected to save the company billions. savings that will pay dividend for taxpayers and for the auto unions. >> we can talk more about that with brenda buttner, too. there is new information on what could be nasty custody battle over michael jackson's children. people.com is reporting debbie rowe plans to attend upcoming custody hearing in los angeles. the judge granted a request from rrowe and jackson's mother kathryn to delay the hearing until july 20. they said it will allow both sides to resolve the issue anickably. debbie rowe is the mother of jackson's eldest son and daughter. >> eric: we've been waiting word from nasa on whether or not the launch the shuttle endeavor w

the moves are part of a larger plan to make g.m. profitable again, as a smaller, more efficient automaker. >> suzanne: an independent federal reserve versus a central bank that is more transparent. tonight's "two ways to play" has two takes on the issue. here's kevin depew of "minyanville" and "minyanville's" kevin depew. >> federal reserve chairman ben bernanke was on capitol hill earlier this week, mainly to discuss the economy, but also to stop a misguided legislative proposal from texas representative ron paul to audit the central bank. here's the thing, the fed isn't some secretive, nefarious organization. it's already audited. its balance sheet is published every week. and market watchers pore over the minutes of every fed meeting. so what bernanke rightly opposes is congressional medaling in monetary policy. it is critical for the fed to maintain its independence, far away from politicians. >> in order to understand why the federal reserve is so opposed to transparency, you have to go back and consider what gives the fed its

a launch -- law firm that represent people that sued g.m. in accident cases. some say if g.m.ld anyone who was injured by g.m. product before the company went into bankruptcy would be less likely to get anything. the law firm says it will appeal the bankruptcy judge's decision in federal court this week. we're told that at this very minute south carolina g.o.p. leaders are discussing the future of their governor. the love sick mark sanford. he says he wants to keep his job despite recently skipping town to visit his mistress in argentina. could state republican leaders knock on his door and give him some information? that's next. %%%%%%%%%% shepard: fox urgent. republicans holding conference call on the embattled governor mark sanford. one option on the table is a call for his resignation. governor sanford of course under fire after he admitted to cheating on his wife with a woman who lives in argentina and changing his story about it over a period of days. is he back at work today after spending the weekend with his family in florida. the governor secretary of state

more than half of the new g.m.owned by the federal government, courtesy of your taxpayer dollars. the search for the black boxes from air france flight 447 is being scaled back. u.s. military officials say two ships searching for the flight data recorders are ending their efforts, but a french nuclear submarine is continuing to search for the devices. 228 people were killed when the plane crashed into the atlantic ocean off the coast of brazil on june 1. a virginia man is recovering after fighting off a bear inside his own home. bob dennis says a black bear made his way into his flint hill kitchen for a late-night snack. sbilesed by cat food, the bear entered through an open window. his dog alerted him to a problem and he wound up face to face with the bear. he says he doesn't remember much, but has cuts to his legs and his chest. a food fight of sorts is underway in montgomery county. some fruit and vegetable stands along river road may be forced to close. it has owners and customers ripe with anger. >> julie brow

judge late sunday approving a plan by g.m.o sell its best assets to a new government-backed company. that's a crucial step now for the business to restructure and complete its trip through the bankruptcy courts. chrysler group sunday announcing the remaining members of the new board of directors, a group that includes a former ceo of northwest airlines, investment bankers and top officials of the italian automaker fiat. big week for earnings numbers. we kick off the second quarter earnings season with aluminum maker alcoa. mostly lower to the closes going into this big reporting week. a debate about the dollar as the world's reserve currency. china going into the g-# and italy saying it is not an issue at the table for them. and companies reaping the best rewards. the stock market rewarding companies such as johnson & johnson and sisco that have been brave enough to make acquisitions. holiday snapshots and family details about the newly appointed mi 6 have been removed from a facebook page after a newspaper told the government

eric: let's bring in a former g.m. manager and now founder of regular folks united.com, and william anderson with the national review and toby smith with change wave. toby can be seen with me saturdays at 10:00 a.m. on fox business channel. let me start with you. you have a history at g.m., and you heard glenn ask fritz henderson about the unions and fritz came out and said, look, the unions are more a part of the solution than the problem. would you agree with that or disagree with that? >> well, i would disagree with that. when i was at general motors, i had a unique perspective. i worked with the federal government and i worked in general motors' plants with union employees. i would say neither were pillars of efficiency and productivity, and the two combined could possibly be a recipe for disaster for a car company that i care about very much. i come from four generations of general motors family. i would love to say this is going to work and they will pay off the government loan and they'll get back to business, b

leavinthe firm are its g.m. north amican president and global manufacturing hea a new boaris also in the works withome directors named by g.m.'s largest shareholds. the u.s. and canadia governments. the moves are part of a larg plan to make g.m. pritable ain, as a smaller, more efficient automaker. >> sanne: an independent federal reserve versus a ctral bank that is more tranarent. tonight's "twoays to play" has two takes on t issue. here's kev depew of "minyanville" d "minyanvil's" kevin depew. >> federal resve chairman ben bernanke was on catol hill earliethis week, mainly to discuss the econy, but also to stop a misguided legistive proposal from xas representative ronaul to audit the central bank. here's the thi, the fed isn't some secreti, nefarious orgazation. it's already audit. its balae sheet is published every week. and maet watchers pore over the minutes of every fed meeting. so what bernanke rigly opposes is congrsional medaling in monetary policy. is critical for the fed to maintaints independence, f

coming up, the boss is in detroit call it the new g.m.eneral motors headed out of bankruptcy and into government hands. next, we'll see what the company we all own is going to look like. plus imagine seeing this on your commute. the person who shot this video says it shows a train operator apparently asleep at the controls. the fallout and the reaction coming up. rick: fresh experience the h1n1 also known as swine flu. a million americans have been infected with this virus so far it could be only the beginning. the real flu season starts in the fall. even if h1n1 is no deadlier than the regular seasonal flu, remember the regular seasonal flu kills tens of thousands of people every he year. if both types spread at the same time, it's hard to know what could happen. wendell goler is with the news live at the white house for us. wendell? >> rick, health secretary kathleen sebelius who think we dodged a bullet with the relatively mild swine flu outbreak this past spring should think again. it may be back in the fall. it may be a more virulent

government owns 60% of g.m.ll make a week with your in-laws look look a love-in compared to the nightmare -- neil: not that would be bad. >> it is more of the same. it is classic american government at its best that we would get somebody from the unions. it is ridiculous. if the whole industry wasn't in critical condition it will remain on life support. >> i don't understand why they don't get business people involved in these. why everyone is an academic -- >> they named ed whitaker to be the chairman. they brought an experienced business guy in. wasn't that good? neil: of at&t. you are right, you could find talent in other spheres but you probably would not want to hire me as a brain surgeon as an example. doing a sleazy commercial possibly. but we are hiring people, a lot of the car czars, radner's only knowledge of cars was from the back seat of of a limo so what are you bringing? >> they need an alfred p. sloan guy and bringing lack lutz is a problem. they need somebody with an entrepreneurial spirit who ha

buying a bab >> jeff: he's talking abt scams touting moy making opportunities in the worless shares oold g.m. mingp, an investor alert. >> susie: tonight's stet critique guest says wal-ma's not e only retailer cashing in on the recession. he'satrick o'hare, chief market analy at briefing.com. >> jeff: then, ilooks like moreeople are paying their credit cards on me. americ express and capital one both report delinquencieare wn. the newselped stocks surge as the dow addeover 250 points. >> susie: i'm susie ghib. >> jeff: and i'meff yastine. paul kangas is off tight.

g.m.'s working with a private equity firm to buy key assets from delphi, helping its former parts making division get out of chapter 11. if approved, the deal could save the parts maker from liquidation. g.m. would get delphi's steering business and four other plants that make parts. california-based platinum equity would take the rest of delphi's operations. the price tag: almost $4 billion. >> susie: delphi's predicament is one example of how the meltdown in the auto industry has spread to parts makers. some suppliers are surviving by looking for new business, while others are getting back to basics. johnson controls is doing just that. for two decades it's been one of the largest makers of auto seats and interiors. but, it's also been keeping buildings warm and cool for more than a century. diane eastabrook explains why the milwaukee-based firm is turning up the heat on that business. >> reporter: johnson control's 42-year-old headquarters has become the company's hottest marketing tool

stuart: would it be most unlikely that g.m. stock would get up in the next year to any point where they could sell it to the public and get the taxpayer money back. i mean, we'd be getting out at a loss surely. >> you know, stuart, as you know, this looks like a situation where taxpayers are going to take a hit on this one because of the president's action. i hate to say that. it pains me to say that, because i just fundamentally believe government should not own private companies like g.m. but the president made that decision and i don't see any possibility, really, that you get the market cap necessary to protect the investment of the taxpayers here. stuart: in fact, senator, it's likely to go the other way. general motors is going to need more money to tool up to produce these energy efficient small cars, and there are about 15 suppliers to general motors and detroit who desperately need cash, which probably has to come from the government. so i'm saying the reality is we've probably got to put a whole lot more in. >> stuart

this isn't when the man landed on the moon and g.m. ruled and you didn't have to worry about competition. >> reporter: state superintendent of schools michael flannagan is raising michigan's educational standards. one of just eight states with no graduation requirements five years ago, michigan is now recognized for having one of the most rigorous set of requirements, including algebra two, biology, either chemistry or physics and a foreign language. >> all we had to do before to graduate from high school was take a civics course. i mean, it was brain dead. >> reporter: tyler mcdougal, a high school sophomore from flint is in the second class of students who will have to meet the tougher requirements to graduate. how hard is this math? >> pretty hard. >> reporter: tyler is from a fifth generation g.m. family. he once wanted to follow in their footsteps. but now he wants to be an ophthalmologist. >> i just didn't want to have to put my family when i get older through the same things. >> reporter: in michigan, the bulldozers are busy. so

that's the major hurdle of seeing g.m. come out of this bankruptcy protection. >> and in this economy? >> yeah, big step for india as well. we saw the release of their budget, they want to return the country's growth g.d. p. figure to 9%, by 2012. and the figures of u.k. and u.s. would give their right arm for their growth figures. but have to see for india and needs those growth rates. a big spend increase of 34% in expenditure. and expending on infrastructure projects and a lot of money into the farm and rural poor to help that area of the country. >> all of that still to come. this is world news today. coming up an illegal and dangerous trade. the bootleggers that risk their lives to smuggle whiskey into iran. and the grand slam title of wimbledon. first in the great depression you saw the rise and fall of the berlin wall. and the famous cartoon selling reporter is selling books by the millions. >> the character of the aga gets the royal seal of approval. of the cartoonist widow is with the famous project at the heart o

a federal judge has ruled that g.m. can sell the best assets to a new government controlled company. the judge said the sale is necessary to avoid immediate and irreparable harm. the g.m. and the government look to close by thursday. chrysler has filled the remain g points on the board of directors. the auto maker will hold the first meeting of the new board at the end of the month. despite slumping sales toyota is investing in a s.u.v. plan. it is pumping $500 million in upgrades at an indiana factory. second quarter earnings reports begin rolling in giving wall street the opportunity to see the damage the recession has done to companies. investor optimism has been rattled by a string of disappointing economic reports. the dow fell 157 points last week and is down 6% since mid june. best buy is looking to rev up sales with a new line of green vehicles. it is selling electric powered scooters, bicycles and segues at select stores in california, oregon and washington. it was a photo finish at the weekend box office. fina

products may not appeal directly to g.m.'s asset sale.gle is getting into the operating system business for pcs which will sharpen the already intense competition between google and microsoft. and let's wrap up on this story, clueless thieves bypassed real cell phones and cash when they broke into a cell phone store in marania, mexico. apparently employees say they took replica phones rather than the real things. that's a pretty dumb way of going about trying to make money in this current environment. back to you, christina. >> all right. thanks so much, geoff. >>> manny gets the thumb. the rays get a walkoff and lance gets second place. >>> plus, a little creativity in the beautiful game. your early morning sports headlines are separate ahead. >>> hey, coming up, we'll have a look at the second half of your week. you're watching "early today." >>> good morning. if you're just waking up, this is "early today." in sports, less than a week after returning to baseball is dodger slugger manny ramirez in need of anger management? here's nbc's

under that plan g.m. will sell most of et cetera assets through bruins creating a new company more than 60% owned by the u.s. government. in the process, general motors will shed thousands of jobs, close around 2,000 dealers and go from eight u.s. brands to four. chevy, buick, cadillac and g.m.c. the new company will reportedly be more environmentally friendly and we could even see a new logo. and end to the iconic symbol of the world's second largest auto maker as g.m. enters its new world of life after bankruptcy. >> it is 6:25, 61 degrees. there is much more ahead in the next half hour of "11 news today". >> we are taking a live view of the beltway at the b.w. parkway. we will look at that and other major roads. we will up ddate the traffic coming up. >> we have had some great weather so far. can it hold together for this weekend? we will talk about it coming up. >> a big meeting ahead for president obama as he meets with the pope. i will bring you a preview coming up. >> first, here are last night's w

reports g.m.'s iconic logo may turn green to showcase g.m.'s environmental initiatives. alcoa announcing second quarter losses smaller than estimated and now saying it expects government economic stimulus spending in china to boost metal demand to help it start generating cash again. u.s. stocks mixed as investors fear disappointing earnings season overshadowed plans to remove up to $40 in toxic assets from financial firms. the bloomberg maryland index falling as well. losses led by osiris therapeutics. peeps check marshmallows opening a retail store. good news for you in maryland. it will be a at national harbor according to the peeps maker. that is the news at the new york stock exchange. bloomberg news reporting for wbal tv 11 news. >> it isn't easy rescuing injured swimmers even we they are hurt in water only a few feet deep. kerry cavanaugh went to ocean city to find out why. >> some of the most serious injuries at ocean city are right here in shallow water when body surfers and boogie borders violently hit water. can kelly award who went headfirst. >> i was probabl

the government's auto task force predicts the new g.m. could sell shares by the first half of next year. >> susie: tonight's commentator wishes china and india continued economic success. he's justin fox, business and economics columnist at time magazine and author of "the myth of the rational market." >> only two of the worlds 15 biggest economies are likely to grow in 2009: china's and india's. meanwhile, of course, the rest of the globe is going through the worst downturn since the 1930s. this juxtaposition means that the global balance of economic power may be shifting faster than almost anyone expected. with their billion-plus populations, china and india now seem destined to become the worlds biggest economies, ahead of the u.s., sooner rather than later. that's a scary prospect for many americans. the political ramifications, and the environmental ones, are hard to predict. but in pure economic terms, it wouldn't necessarily be bad news at all. for one thing, a country doesn't need to have the world's biggest economy to have its mo

. >>> americans scale back, g.m. takes a little off the top, and a banned gripe becomes an internet t. your early morning headlines are straight ahead. >>> plus giving lindsay lohan a little bit of a headache. >>> a play in the mets/dodgers o me you've got toee s t believe. you're watching "early today." >>> good morning and welcome back to "early today." i'm christina brown. and here's some of your top headlines this morning. >>> the u.s. is suspending $16.5 million in military aid to honduras following last month's cue. meanwhile, ousted president zelaya demanded his power be handed back to him in the last 24 hours. >>> nashville authorities confirm that former star steve mcnair died in a murder/suicide. the 20-year-old woman shot mcnair in his sleep before turning the gun on herself. >>> the world famous museum and a nearby college were evacuateded by a quickly burning brush fire. about 2,000 employees and visitors were moved out of the main museum and ventilation systems were shut down to prevent smoke from damag

. >>> the new g.m. a federal judge clears the way for the nation's largest automaker to sell its good assets to a new company largely owned by you, the taxpayers. >>> and grim discovery. workers are charged with reselling grave sites at a historic black cemetery near reselling grave sites at a historic black cemetery near chicago. captions paid for by nbc-universal television >>> hello and good morning, everyone. i'm dan kloeffler. and today we begin with the president and the pope. this morning president obama wraps up meetings with world powers on climate change and the economy at the g-8 summit in italy. next up on his overseas tour, a stop at the vatican. he will be having a frank but constructive talk with the poement for more we go to savannah guthrie in rome. savannah, good morning to you. >> reporter: good morning. on the president's final day in italy, he's meeting with african leaders and is expected along with world leaders, to announce up to $15 billion for a food security initiative. the id

how can current g.m. dealers possibly stand up against g.m. when g.m. is the federal government? again, dealers are urged to sign a letter that will disadvantage their disenfranchised former competitors? this is a bad business, madam speaker, and it perfectly illustrates why we don't want government to own or operate or control private businesses? and i yield back. the speaker pro tempore: the gentlewoman yields back. mr. broun of georgia. for what purpose does the gentleman from illinois rise? mr. shimkus: i ask unanimous consent to address the house and to revise and extend. the speaker pro tempore: the gentleman is recognized for five minutes, without objection. mr. shimkus: thank you, madam speaker. i appreciate the time to come down to the floor and talk about the bill that recently passed the house, the cap and trade, cap and tax, national energy tax bill, which has a basic premise. the basic premise says there's too much carbon dioxide in the atmosphere. the solution is to make sure that the emission of carbon dioxide is charged more, and that charge will decrease our reli

the atrocity of g.m. to close this longstanding profit making employee providing institution is a shame. let us get chrysler and g.m. at the table to restore the ownership of these dealerships to their owners and let them sell cars the american way. the language in this bill is the right language. i thank those who have helped to offer this language, but now we have to implement the language. get these car dealers back doing their jobs and to g.m. and to chrysler, accept these appeals recognizing the large number of jobs that will be lost, create a job or save a job, there are jobs here. we can save a job. i yield back. the speaker pro tempore: the gentlewoman yields. the gentleman from texas is recognized. mr. sessions: thank you, madam speaker. i'd like to yield one minute to the distinguished gentleman from colorado springs, mr. lamborn. the speaker pro tempore: the gentleman is recognized for one minute. mr. lamborn: i rise today to oppose the provision in this financial services bill that allows taxp

g.m. to sell most of its assets to a new company that's getting out from beneath some of its debt obligations. g.m. and officials are urging a quick approval say it's necessary to keep the auto maker from selling itself off piece by piece. there's a new program that could help those of you repaying student loans. it's called income-based repayment. now anyone who has a federal student loan can apply to cap their monthly payments based on income. the department of education program forgives remaining balances after 25 years. those in public service could have their loans forgiven after 10 years in some cases students will be better off by repaying their loans faster. 11 news reporter michelle steele takes a closer look at that deal in the "bloomberg business report." >> good morning. a bankruptcy judge granting general motors approval to sell the majority of its assets to a new company backed by treasury department. the judge calling the sale the only option to save the struggling automaker

an appeal was expected by people who have sued g.m. in auto accident cases.nder the bankruptcy plan, the government will be majority owner of the new g.m. wall street had a mixed day. the dow jones industrial average gained 44 points to close above 8324. but the nasdaq fell 9 points to close at 1787. and oil prices hit a five-week low, falling to $64 a barrel in new york trading. gasoline prices also fell again to a national average of $2.61 a gallon. >> lehrer: and still to come on the newshour tonight: the washington post says sorry; and remembering robert mcnamara. that follows gwen ifill and the latest on the standoff in honduras. >> ifill: the main airport in tegucigalpa remained closed today, after the deposed president attempted to land there last evening. manuel zelaya's plane circled the skies of the capital, but was forced to divert after soldiers blocked the runway. supporters of zelaya, who was forced out last sunday, lit fires and hurled rocks. a 19 year old protestor was killed. last night, zelaya, who ultimately landed in el salvador, met with

while you were asleep a bankruptcy judge made a big ruling in the fate of general motors ruling that g.m. can sell the bulk of its assets to a new company. that clears the way for the american auto maker to quickly emerge from bankruptcy. the federal government is backing the plan to cut out many cost the and liabilities but the treasury department says funding will be cut off to g.m. if the sale doesn't go through by july 10. to another developing story, president obama and the first lady are expected to arrive in moscow in a few minutes. they left andrews air force base yesterday for an overnight flight. president obama will mee privately with the russian president medvedev. he has formal power but vladimir putin has influential putin. mr. obama will meet with him tomorrow in an important test of diplomacy, the first of its kind since the early part of george w. bush's presidency. we will keep you informed. >> investigators are waiting for the autopsy results of two men found in a burning home inci upr marlboro. they were killed late saturday night after a fire at the home on wheeling

we want the spring hill plant to make some g.m. products soon and believe that it will be because of all of the natural advantages it has. what are the best ways that we in washington can help general motors succeed? that was a question that was asked of me last week in tennessee. well, the answer, mr. president, is to get the general motors stock that is owned by the government out of washington, d.c., and into the hands of the taxpayers. i have legislation that i'm -- i have introduced and i'm looking for the opportunity to amend an appropriate bill on the bill that is cosponsored by the republican leader and senator kyl and a variety of others, that would take the 60% of general motors that the u.s. government owns and give it to the 120 million americans who pay taxes on april 15. what's the reason for doing that? they paid for it, they should own it. what's the second reason for doing that? if the stock stays here, we find that washington bureaucrats and those of us who congress just can't keep our hands off the car company. w