toyota announced today it will shut its california factory, cutting 4,600 jobs after g.m. ended its partnership at the plant. ben tracy has more. ♪ we are nummi... >> reporter: autoworkers in fremont, california, tried to appear upbeat but they couldn't escape the sobering news, toyota is following g.m. and pulling out of town. >> shock, sadness, hurt. all the things wrapped up into one. >> reporter: for 25 years, the new united motor manufacturing plant-- or nummi-- has served two of the world's biggest automakers. nummi is the largest employer in town. those 4,600 jobs paying an average of $65,000 will be lost when the plant is idled in march. that could also be an economic earthquake for all of california where the unemployment rate is nearly 12%. 1,200 suppliers here produce parts for nummi, that's at least 19,000 additional jobs. walker corporation makes small metal parts for cars. it stands to lose $6 million in sales and is considering layoffs. >> it's on the table, we've got to look at it. we still don't know what the fallout is going to be. >> what kind of power?

the vice chairman of g.m. from g.m. headquarters in detroit. pay attention.e has something to show you, that's next. inner beauty is important, but not nearly as important as outer beauty. ♪ that's why i use covergirl's simply ageless makeup with olay regenerist serum. a department store brand can glob up in lines and wrinkles and actually make you look older. simply ageless stays suspended over lines and makes you look amazing. simply ageless from olay and easy, breezy, beautiful covergirl. ♪ and try new simply ageless sculpting blush to bring out your cheekbones. i've been hangin' up there for, what, like, forty years? and then - wham - here i am smacking the pretty off that windshield of yours. oh, what you're looking for an apology? well, toss another coin in the wishing well, pal. it's not happenin'. limb: hey, what's up, donnie? how you been? anncr: accidents are bad. anncr:but geico's good ding! with onsite windshield replacement. greta: this is a fox news alert, a new air and ground assault operation eastern resolve has begun in afghanistan. this is n

one of 25 newehicles g.m. is rolling out over the next two yes to get the vicles right, the compy is figuring out what consumers like and don't like about its products. diane joine 100 consumer at has could help g.m. design its product of the future. >>eporter: they came from bost, seattle, and parts in between.... >> this is sweet. everyone should ha one of these. >> reporter: . to get behind the wheel of general motors hottest products. >> how areou today, sir? >> reporter: ts week, at-m's expense, 100onsumers from around the u.s. came to e company's st track near detroit to bn a little rubber, eck out vehicle interiors i like that. >> reporte and give ceo fritz henderson an earfuabout what they wt and don't want in a car or truck. >> if i want a camero don't want a four door. >> we'll sell you a came. ere's one right there. >> it doesn'have 4 doors. >> reporter: henders says this firsof-its kind eve for the auto maker refles how the new g-m is doing business. he thinks the company n sell mo vehicles by list

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you talk about the job savings at g.m. i'll tell you what. down the line, how do we know what other industries are prevented from coming up because that money was spent on g.m -- >> bingo! >> oh my god. you are now -- >> 100 years ago why didn't we save the horse and buggy industry? elizabeth: christen, go ahead. >> i think it's amazing that obama is rearing his head and taking all the credit. but at the end of the day, let's make this very simple, it's about jobs. people are at home trying to make their cobra payment. they're not working. there's no job creation. he's waving around saying, look, it could be worse. it's not going help me when i'm out a job. >> jobs are created. mark, this could be a little out of your zone here. jobs are created. >> right. >> they play that capital with the idea of making a profit. in order to do that, people are brought in to make that happen. government doesn't create jobs. they tax or spend. they don't decree -- capital creates jobs. end of story. elizabeth: mark? >> i'll stretch out that tone to say creat

g.m. plans to bring back 1,300 idle workers in addition to 10,000 employees with an overtime shift as it increases output at nearly all u.s. plants. >>> keep an eye on the world's largest pc maker today. profits down 19% in the latest quarter. despite a better forecast for the rest of the area, hp shares dropped 2% following its after the bell earnings report. >>> finally, a flower shop in illinois is set up after fielding 150 calls a day for customers who want to buy cars, not carnations. the small town florist has an 800 number that's almost the same as g.m. cash for clunkers information line except it starts with 877 a new and lesser known prefix. g.m. claims there's not much they can do about it. >>> well, brett favre finally makes up his mind and big papi finally wakes up. >>> plus, someone machine's one-man wrecking crew leaves a few calling cards in texas. your early morning sports headlines are straight ahead. >>> we've got scattered storms in the eastern half of the nation. your r

g.m. reports a year over year drop of only 19%.ven though sales have risen for five months in a row. in terms of the overall share of the u.s. market, g.m. still leads the pack, followed closely by japanese automaker toyota and ford. honda and chrysler are well behind. still, it's been a rough time for workers forever general motors. over the past two months the auto giant has announced shut factories employs more than 20 thousand people. now there is word not enough workers have accepted retirement and byout offers meaning lay offs are likely. it's all in the math. the company currently has 54,000 factory workers coast to coast but plans to end the year with a little more than 40,000 of them. that means 13,500 cuts are necessary. g.m. reports about 6,000 employees accepted the latest buyout offer. leaving 7500 jobs in jeopardy and setting the stage for more pinch slips to come. job cuts aside, those auto sales numbers added to the optimism on wall street today sending stocks past some major milestones. the market opened higher and

let's say ford and g.m. have to test and the oil companies have to test. well, ford and g.m. don't have any money. the oil companies do what they have to do. it's not a growth market. the growth is in china. here in the u.s., it's a pretty flat market. >> we have the same problem that any small business does. lots of people that we sell to are contract laboratories that are another small business and they've got the same problems and it all rolls downhill. glenn: so you guys, when the government makes regulations, for these other people, then, like an oil company, you make the instrument so they can be in come miance? >> correct. glenn: and you're having a hard time selling it to even those guys? >> correct. glenn: and it's not a growth market? i would think that the way the government is regulating that people would be beating a path to your door. >> one of our competitors who is much larger than we are, by the way, is down about 38% this year in their sales. we were down about 25%, but we've managed to secure a large order from china and get some of our yankee dollars back

two g.m. vicles, the chevy malibu and the chevyobalt have been popul with consumers participatinin the gornment's rate program. since last monthdealers have reported shortagesf both. the move will ing more than 1,30laid-off workers in the us and canada back to t assembly lines. a plant in ohio ll add a shift, whi another in michigan will increase overtime. paul: ford motor is chargin ahead with plans to brg electric vehicles to theasses. it's wking with a dozen utility mpanies and the partment of energy on a smar charging system that willet electric cars talk to powe grids across theountry. ford says the system wl let owners control when they crge thr vehicles and for how long. its fit battery electric vehicle, the trans connect commercial vanomes to market next and a batteryowered ford focuis due in 2011. >> susie: mewhile, chrysler creditors are suing daimr ag for billionsf dollars. they're accusing t german automaker of strping chrysler of assets before selling it

and speaking of g.m., tomorrow we talk with c.e.o. 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

i wish they did more of this and less of the loans to g.m., etc. as far as this lexus thing -- >> wait a minute! why not just -- why not just give people money? pay out the dollars. >> give people money to buy a house. they are doing that. i talked to a friend at b.m.w. they have no cars at this deal because there are no luxury cars for $45,000, america! wake up! this is to hand money to the auto industry. you get a clunker. people driving those cars don't have clunkers. terry: jonathan -- >> jonas, here. come get this. come get this. we're just giving it away. >> jonas brings up a short-term point. yes, this is a short-term pop. what you don't see is how it sabotages normal price discounting that maybe companies would have to do. everyone complains hybrids and fuel efficient cars are so expensive this type of incentive is a discouragement to lower those prices. >> exactly. isn't there something wrong where the average car is $45,000 and the average family of four makes $45,000? >> it's crazy. >> there's something wrong with the country when you ba

>> if you use that rationale, g.m. would not have been a good investment. i don't think it is the best on that is why i advocated the index. neil: thank you all. david: president obama will be out once again trying to save his healthcare reform in a few hours. he promises to safe your mine by cutting the number of years drug companies can charge high prices for brand names. >> if we can make those patents a little shorter generics get on the market sooner, you as consumers will save money. david: some say the plan will cost money and cost lives. a welcome to "forbes on fox." let's get the flip side with mr. steve forbes, elizabeth mcdonald and neil weinberg with other our group. will this hurt lives or save lives? >> this will cost lives. this is a poison pill from the president who has no understanding of innovation. takes $800 million to $1 billion to bring a drug to market. you shorten the patent period you will get higher prices or entrepreneurs doing less risk taking because the raurds are rewards are cut short. david: quentin is this good or bad? >> i

under this plan, 225 california g.m. dealers will let consumers haggle over the price of new cars and trucks.p.ay s a.p. says theew ns buick, chevrolet, g.m.c. n and pontiac vehicles will be sold through september 8. this trial is part of g.m.'s turnaround plan. also on g.m., the automaker is targeting a new stock sale for july 10, 2010, the one-year anniversary of its exit from bankruptcy. after trading today, take ani look at stock index futures, indicating a slightly lower open. one analyst said this morning that everyone in the market is ca ing it overbought, so a selloff is going to it can a self-fulfilling proff simple that's business news. live at blood vessel headquarters in new york, -- live at bloomberg headquarters in new york, i'm linda bell. >> it's 5:27. the news continues with "good morning washington" at 5:30. >> still ahead in our next half-hour, tributes pour in for an ailing member of the kennedy clan. we'll get an update from a massachusetts hospital. >> and more metro safety issues makes a lot of fol

. >> with tens of billions of dollars already invested in chrysler and g.m., not everyone is happy with what they see as another federal bailout. >> maybe we should have a cash for cluckers program and pay people to eat chicken. >> we need a program to pay people to by lumber. >> if you're given free money, you like it, and you want more. that's what this program is. >> still, the house voted by 3-1 to reprogram $2 billion in energy efficiency money to the clunkers program. even supporters say the problem has problems. the clunkers are supposed to be destroyed within two days of the sale but getting a refund gets much longer. i have dealers that have submitted their paperwork and aren't hearing back. >> john mccain is so opposed to the expenditure, he's planning to filibuster when the senate votes next. >> a lot of people are going this weekend to look at buying a new car. >> the amount of money you get for your clunker depends on how much better gas mileage the new car gets and it's a plus for the country that people are buying more fuel-efficient cars than congress expected, a ten-mil

brian: thousands of chrysler and g.m. delearships are shut down. were just too many of them. now there is word these delearships could reopen in the same towns but under different names. steve: what's that about? then some gitmo detainees were shipped to bermuda. others may be heading to michigan. some are happy about it they say hosting terrorists could be good for the town. that story straight ahead. come on. [ kissing ] come on. good girl. mollie's never looked better. i really was amazed to see the change in her coat. people stop us when we're walking, and they'll say, "did you shine up her spots?" [ woman announcing ] just another way purina one... unlocks the brilliance of nature... to transform the life of your dog. for us to see the difference in mollie-- we were really excited about it. it just makes you feel wonderful. [ announcer ] it's amazing what one can do. brian: $56.2 million new action movie g.i. joe the rise of the cobra brought in at the box office this weekend making it number one. next, $900,000 how much edward women's won in

. >> it's almost like phillies g.m. ruben amaro jr. is playing fantasy baseball on espn.com.orld series champs almost landed roy halladay, that didn't work out, instead they landed reigning a.l. cy young award winner cliff lee in a deal that might have had other owners emailing the commissioner to veto the trade. in his debut he had a no hitter going into the to see him up close and personal in his home debut. here is mr. lee, his first time at citizens bank park, the phillies host the rockieses, lee pitching well, his manager charlie manuel says, "he keeps a good composure out there." lee seven innings, one earned, he struck out nine. bottom five now, game tied at 1-1, paul bako launch -- paul bako launching this one to center field. his first home run of the year. actually, his first since 2008, in june. aaron cook picks up the loss and loses for the first time in his last eight decisions. colorado has lost two straight following a five-game winning streak. lee is proving he's a great second half pitcher. he's now 15-1 with a 2.38 e.r.a. after the all-star break the last tw

. >> it's almost like phillies g.m. ruben amaro jr. is playing fantasy baseball on espn.com.orld series champs almost landed roy halladay, that didn't work out, instead they landed reigning a.l. cy young award winner cliff lee in a deal that might have had other owners emailing the commissioner to veto the trade. in his debut he had a no hitter going into the to see him up close and personal in his home debut. here is mr. lee, his first time at citizens bank park, the phillies host the rockieses, lee pitching well, his manager charlie manuel says, "he keeps a good composure out there." lee seven innings, one earned, he struck out nine. bottom five now, game tied at 1-1, paul bako launch -- paul bako launching this one to center field. his first home run of the year. actually, his first since 2008, in june. aaron cook picks up the loss and loses for the first time in his last eight decisions. colorado has lost two straight following a five-game winning streak. lee is proving he's a great second half pitcher. he's now 15-1 with a 2.38 e.r.a. after the all-star break the last tw

g.m. wants to cut 7,400 more workers by the end of the year. spending on home construction rose by 3/4 of a point. it is the second increase in three months. manufacturing activity declined at the slowest rate since last august. production is at its highest level in more than two years, and tftion a big day on wall street. the dow jumped almost 115 points. the s&p rose 15 and change and the nasdaq picked up just over 3o republican turned democratic senator arlen specter says august is shaping up to be a battle ground month for healthcare reform. he should know. after enduring and an tague nis tick crowd at a weekend town hall meeting. shannon bream reports on the public venting over changes it may not want. >> no healthcare! >> with skeptical americans across the country, they are pushing back. they are giving owe officials like kathleen sebelius and arlen specter an earful. >> you want us to believe that a government that can't even run a cash for clunkers program is going to run 1/7 of >> our u.s. economy? no, sir! no, sir! >> democrats are l

management of g.m. and ford should have been forced to do deep look and then the union would have been forced to look at the pay structure and said, hey, maybe we need to rethink this. if we put one of the big three out of business, there might be something wrong with this. throw enough money at a problem and temporarily it goes away and we are dealing with the exact same situation only putting g.m. and chrysler into bankruptcy this time. i think it was the better approach than just throwing a lot of money at them without causing them to restructure. >> host: our viewers are lining up to ask you questions. kenneth joining us from oklahoma city. good morning. >> caller: good morning. am i on? >> host: you are. >> caller: thank you, c-span. i live in oklahoma city and i drive to chickasaw, oklahoma. there is a large road sign i see every time i go down there that says: government takes from the needy and gives to the greedy and contributed to ronald reagan. in my opinion that is what ronald reagan did and

>> because when they appointed the new chairman of g.m. who announced the appointment, i know nothing about the car business, his name was edmond whitacre. glenn: oh, my goodness, it is the new chairman of g.m.! >> it gets better, because the second name down in the corner, bill daley, brother of the mayor, a real powerful force, a person pulling the strings in the obama camp is bill daley and one of his closest friends is jim johnson, chairman of fannie mae. his qualifications for the largest mortgage company in the world was that he had been walter mondale's campaign manager. he puts him on the board there. glenn: real quick, let me ask you -- why is no one connecting these dots? >> that's what drives me crazy corruption is killing this country. it is corruption on on the republican side and the democratic side. it is a cancer on the society. no one will touch this story. nobody has made this connection in the media, well, because they have decided they have a new role, which is to serve as lackeys. glenn: you are a democrat. i am an ind

in fact, bloom saythe administrationants to sell its stake in g.m. and chrysl as soon as possle. but he predicts rysler won't go public unl 2011, at the eaiest. >> paul: for the fst time ever, the securiti and exchge commission is enforcing rules to limitaked short sellin that where an investor sells stock that has not yeteen borrowed. two trads and their firms have agreed to settle the chaes that they violed rules without mitting or denying guilt. hazan catal will pay $3 llion. tjm proprietary ading will pay ha a million dollars. >> sie: cisco's c.e.o. gave today anpbeat outlook for tenology spending even though e tech titan reported a big dropn quarterly revenues and profits. the stock surged as muchs 3% in after hou trading. excluding arges cisco earned 31 cents a sre in its fiscal fourth quarter2-cents ahead of alysts estimates. revenues fell 18% $8.5 billion, but still in ne with estimate oking ahead cisco expects revenues to fall as ch as 17% in the curre quarter, even thgh orders are picking up. joining us now, cisco chairm and c.e.o. john ambers. , john. >> hey goodto see

at gener motors, sales continued to slidedown 19% but g.m. said cash for clunks is helping to sbilize the indust. chsler sales fell 9% and toyota's were down over %. but as stephanie de reports without additional funng cash forlunkers could stop on a dime. >> reporter: hearing news th cash for clunkerprogram could end, heather andatt cronin ove into the sheehy dealersh today. they're looking to te advantage of t $4,500 for theiold jeep. >> it's a sutantial amount, it makes it worth us doing it n rather than waitg. reporter: cash for clunkers drove more than 50sales at dealer vince shey's 14 outlets. that pick-up ibusiness may leado new hires, after lay- off's last year. when this program kicked in we're very short-staff, we're gog to have people working through the night toght just to process dealsnder the program, but we're hopul that we can probly add back maybe 10% back to our workforce. >>eporter: while there is some concern the cash forlunkers program cod slow future sales, the hope is that t new-found montum will contin long after the o

g.m. plans to keep disclosing ports as if it was public. the heads of the sate banking and dget committees, chris dodd and kent conr, were eared of wrongdoing today fo accepting swtheart deals on home loans. the sena ethics committee's year lg investigation found the loans did noviolate the gifts le because they were avlable to a wide variety of borrowers th comparable credit histories. t the panel scolded the two democrats for nobeing more careful to avoid the apprance of preferential treatment. both received loans thugh a countrywide financial v.p. program knowas friends of angelo after former e.o. angelo mozil susie: a.i.g. reported toda its first quartey profit in two ars. but e troubled insurer is still far fr repaying american taxpayers billions of dollarin loans. excluding items, a.i.g. eaed $2.57 share, a dramatic swing from last year loss of more than ten dollars ahare. outgoing c.e.oed liddy warned at future results will continue to be vatile. a.i. still owes $87 billion in bailout funds. the rm has been selling assets to repay th

a $288 million loss due to the drawn-out shutdowns of g.m. and chrysler. another company feeling the heat, sysco systems. earnings fell 46% but profits still beat expectations. still shares fell 3%. and in a seattle tiny mistake put out big consequences. a contractor contracted to dig a ditch ended up making it a little too narrow. the.02 inch difference, the size of a dime, meant a cable line couldn't fit. the project was delayed two months and the company could face a bill of a million dollars. the whole measure twice, cut once, that's overrated. >>> another hurler won't be hurling for the mets. die-hard fans show their meddle in houston. plus, both teams had nine men on the field last night in kansas city. the surprise addition did not help out the home team. your early morning sports headlines are straight ahead. >>> thursday weather, cooler conditions from the northwest to the northern plains and even now new england. your regional forecast is coming up. you're watching "early today." >>> good morning. if you're just waking up, this is "early today."

g.m. is announcing a trial program wi ebay today. most g.m. dealerships in california will sell their cars on the auction site. customers will be able to bruce cars, ask questions, fure out financing, and negotiate prices. if the trial is successful, they plan to expand it around the country. well, "g.i. joe" took command of the weekend box office. it finished in the top spot, taking in more than $56 million. it is the latest toy turned box office hit following in the footsteps of "transformers." "julie & julia" was number two. coming up on "good morning america," what's next for paula abdul now that she's leaving "american doyle"? could she go from one judge's table to another? and that is your "money scope" report. i'm jeremy hubbard sausm a yeah, that's the new rumor she might be "dancing with the stars" as a judge. >> she would be good. me a she sure would. >> still to come here on "good morning washington" -- we're going to get a check on some of the stories you will not be finding on the front page today. >> and later today, catching one

here they are, back in february, but on friday citigroup, a.i.g., g.m., chrysler and three other companies that got the most government assistance have to submit their pay plans to the new pay czar and treasury to have their pay plans reviewed and then he has 60 days to decide if he wants a change, to reject them, accept them, so it's unclear if these $100 million paydays are going to continue for wall street. bret: one guy is happy tonight. >> one guy is having a good day. bret: peter, thank you. well, if you are an average american, you are finally working for yourself now. let me explain. the americans for tax reform foundation and center for fiscal accountability say you have been working all year so far just to pay your share of the total cost of government. the mark falls 26 days later this year because of the increase in government spending. the president now says canada's healthcare plan is not right for the u.s., so what are the stats and would it work here? we report. you decide. and a number of mexican families relying on help from relatives inside the u.s. are now being forced

g.m. and chrysler have agreed to cover short falls and -- >> we are doing everything in our power to expedite the processing of these applications. >> well, it's highly i mean probable that you'll become a millionaire in a matter of seconds, but it is possible simply by wining the maryland lottery. the mega millions jabbling pot is at a whopping $207 million. to win you must match all six numbers. the odds 176 million to one. sounds easy enough. remember? the drawing tonight right here on wbal-tv 11 at 11:22 p.m. sharp bringingtous our water cooler question of the day, what would you do with the money if you won the mega millions jack shot? email your spons to watercooler@wbaltv.com, i know you said you got your ticket? >> yes. >> i'm getting mine today. i'm splurging $10. >> i would start by getting you half, mindy. we're a team. i roll like that. >> cross my fingers. >> all right. >> i think he's kidding. >> on tv hill coming up enjoying more food and taste could be as simple as kicking

will begin reviewing the pay plan for the rms still on government life suort, including tigroup and g.m. feinberg has 60 days taccept or reject e proposals. joining me now wh his thoughts on the hotopic of executive compensaon is charles elson. is a professor at the university of delaware and director of thweinberg center for corporate governance. lcome to the program. >> gd evening. good tbe with you. >> suzanne: you don like this ideaf the pay czar? tell me why you feel that way? >> you hav totart with the term itself. czar isn't exaly a u. buness term. it connos somethingomeone fr the top dow telling folks how they should pay people. really up to the corporaon, it stts with the shareholders and the boa. you start with that sondly and moremportantly, i think he's an aolutely impossible sition. if he were to approve th pay as prented, then he'll take an awl lot of flack as will the blic in ter of the rat approved. if h turns down the reques and wers the amounts and the coanies don't perform, thell ble him saying the taxpayers have losbecause he didn't apove a comtitive pay structe. eit

that's what g.m.'s first electric car promises potential buyers. is it worth the price?>>> and please take another live look outside. >>> a rescue mission in taiwan saves 300 people after a mudslide consumes their village. the meafer used helicopters -- military used helicopters to pull hundreds to safety. at least 50 are confirmed dead and dozens remain missing. the typhoon triggered the mudslides and flooding. it dumped 80 inches of rain before moving to china. there's also a report of a rescue helicopter that crashed during the relief mission. it's not clear if anybody survived or not. >>> as taiwan and china deal with the aftermath of the devastating typhoon, a powerful earthquake strikes japan. the tv station camera shook violently as the 6.5-magnitude quake rocked tokyo and nearby areas shortly after 5:00. police say a 43-year-old woman was killed by falling debris. at least 100 people are hurt. >>> and divers have resumed their recovery efforts today following the midair collision over the hudson river in new york city. police say they're trying to remove one body

two g.m. vehles, the chevy malibu and the chevy calt have been popularith consumers participating the govement's rebe program. since last month, alers have reported shortages oboth. the move will brg more than 1,300 id-off workers in the us and canada back to thessembly lines. a plant in ohio wi add a shift, whilenother in michigan will increase overtime. >>aul: ford motor is charging ahead with plans to brin electric vehicles to the mses. it's worng with a dozen utility coanies and the dertment of energy on a smart charging system that will t electric cars talk to power grids across the cntry. ford says the system willet owners control when they chae theivehicles and for how long. its firsbattery electric vehicle, the transitonnect commercial van ces to market next and a battery pered ford focus due in 2011. >> susie: meanile, chrysler creditors are suing daimleag for billions odollars. they're accusing theerman automaker of stripng chrysler assets before selling it to cerberus capit manageme

car makers g.m. an chrysler must explain it all to this man. he is kenneth feinberg, the so-called pay czar. he has the final say of what is fair and what is not. he may well decide that some of these employees are wren titled to big paydays. the white house seems to be ok with that, to a point. >> i don't think the american people begrudge that people make big salaries, as long as they're not jeopardizing the goodwill of the public in doing so. >> for companies struggling to rebuild with the government as its partner, finding that middle ground is not easy. the solution, feinberg will look for options that pay off big if the companies do well in the future. >> you want compensation that is adequate to reward talent for long-term performance. you don't want it to encourage short-term risk. >> the 7 companies in question are not providing details about their compensation proposals for fear of raising hackles on capitol hill. already speaker of the house nancy pelosi an barney frank, the powerful chairman of the financial house services committee

>> if you use that rationale, g.m. would not have been a good investment.

workers and if they are being paid by the hour and they work after hours this is real work, not the g.m. auto workers being paid for doing nothing. they should be compensated for the time they work. david: what do you think, steve? >> both are true. they are cry babies and the lawyers are right. however, i hope these lawyers will hire the workers after they also the jobs because the employers can't afford tell because of high wages. we are in a tight economy. so we all should cut back a little bit to make sure we get through. david: when we all have to chip in weekends or week days? >> i don't think there's anybody that doesn't. that way right now and i really object to the idea they are cry babies. the fact is they are working flat out and the fact is they really try hard and get up and go 20 to 30 years working as hard as they k. but it is an information age economy. you can be got to. you are competing around the world. we have an industrial structure. david: rich shall are had he cry babies or do they have a point? >> i'll talk strictly chicks. unemployment is high. point number two

. >> paul: tomorrow, from g.m. to bank of america and citigroup, big bailed out firms face a deadline on executive pay. >> susie: airline rivals are swapping airport slots in two of the nation's busiest cities to help their businesses take off. delta air lines and u.s. airways said today they're exchanging gates at new york's laguardia airport and washington's reagan national. the deal lets delta expand its new york service while u.s. airways increases service in d.c. it also lets them better compete with low-fare rival southwest airlines. >> paul: the securities and exchange commission plans to file insider-trading charges against pequot capital management and its founder arthur samberg. the s.e.c. wants to know if pequot traded microsoft shares on confidential information provided by a former employee of the software giant who was later hired by pequot. a month ago, samberg said that was not the case. back in may, he announced that he's shutting down pequot. >> susie: here's a look at >> susie: in the "money file

management of g.m. ford should have been forced to do deep look and then the union would have been forced to look at the pay structure and said, hey, maybe we need to rethink this. if we put one of the big three out of business, there might be something wrong with this. throw enough money at a problem and temporarily it goes away and we are dealing with the exact same situation only putting g.m. and chrysler into bankruptcy this time. i think it was the better approach than just throwing a lot of money at them without causing them to restructure. >> host: our viewers are lining up to ask you questions. kenneth joining us from oklahoma city. good morning. >> caller: good morning. am i on? >> host: you are. >> caller: thank you, c-span. i live in oklahoma city and i drive to chickasaw, oklahoma. there is a large road sign i see every time i go down there that says: government takes from the needy and gives to the greedy and contributed to ronald reagan. in my opinion that is what ronald reagan did and bus

>> since we own most of g.m. and a hot of chrysler, what are we thinking? this should be ralph williams selling cars, for crying out loud. >> i take it all back. this is brilliant! >> finally! you know, what, nancy, you're very convincing. >> i'm in detroit. >> that's what it all comes down to. >> so, one man's whose, another man's gain. how the president's poll numbers drú1 >> so take a look at this. on the left, the president's poll numbers since he took office, falling, and on the right, the dow during the same time, soaring. you say it is no coincidence? >> it is a fact. stocks do better when the approval rating goes under 50. it has done that with reagan and under bush. when bush's ratings were going down, the market was going up. he peaked when the market was having a rough time. it is just the math. there is psychology behind t i'm sure there is a lot of stuff. let's not argue the facts. >> this rally began in march when the president's approval ratings were pretty high. >> exactly. you know, i think this occurred when george washington's ratings wer