general motors in particular. the bush administration gave bridge loans which kept him them alive long enough where the obama administration to decide, should they stay alive? and i think they did an extraordinary job on the task force of oiling down to the essence when needed to be done. general motors for example, much like allen mullally coming to ford motor company and steve rattner or ron bloom coming from his back and looked at this, how could gm have so many divisions in so many cars that aren't selling, so many unprofitable models? for the longest time gm was reluctant to give up anything. we don't want to give up saturn and we don't want to give up on you. the automotive task force force them to make hard decisions which were the right ones. gm is a smaller company now and a more profitable and more effective company, so i think in a compressed timeframe and the pressure that the task force was under, they really still -- instilled the needs of the companies and what had to be done. in fact taxpayers are

general motors as a corporation had a hard time admitting mistakes. i think that's a lesson to be learned. not so much their senior executives and private, but the corporation itself was very resistant to any kind of criticism or suggestion that maybe they should do things differently. their ceo, rick wagner, grew up in gm. he had the perfect gm resumÉ being groomed from the top for years. he was a defender of general motors. when gm was attacked, rick and his people defended it. in hindsight, perhaps some of the criticisms and some of the suggestions that gm needed to go in a different direction weren't heated. they fought change rather than embracing it. the ford motor company was a smaller version of gm operationally; same structures, same global strategy, but the difference is controlled by the ford family, the descendents of the legendary henry ford, so they could make some adjustments based on their leadership, which, at the time, was bill ford jr., henry ford's great grandchildren. bill ford after becoming ceo, learned pretty quickly that his c

over general motors in particular? the bush administration gave bridge loans which put them alive long enough for the obama of the illustration to decide should they stay alive and i think they did an extraordinary job on the task force of boiling down to the essence what needed to be done. in general motors, for example, much like adam coming into the ford motor company steve coming from wall street or ron bloom coming from his background looked at this with how could gm have so many decisions, so many cars that are not selling so many profitable models. we don't want to give of sadr are part yet. the to automate taskforce forced them to make hard decisions which were the right ones and it's a smaller company now and it's a more effective company. and i think that in the compressed time frame and the pressure that the task force was under the really distilled the needs of the companies and would have to be done to in fact of the taxpayers were going to put up more money some hard choices had to be made and the really

. >> he was joined by the south korean president on a tour of general motors in michigan. they talked about a new trade deal between the countries. it was also a chance for the president to highlight the jobs he saved in the automobile industry. >> at a general motors plant in michigan president obama told workers that his $60 billion role of the dice was worth it. >> the investment paid off. >> two years ago with the u.s. automobile industry on the brink, he decided to loan taxpayer money to general motors and chrysler after both declared bankruptcy and needed financing to restructure. that decision, he said, saved countless jobs. >> of hundreds of thousands of jobs that have been saved made it worth the amount the president and his south korean counterpart - >> he knows how to get on your good side. >> celebrated a new free-trade deal. they also checked out the chevy sonic. while mr. obama celebrates the turnaround washington continues to grapple with how to create more jobs in other sectors. earlier in the week, the president's jobs plan of tax cuts and at the structure

car makers enjoying a comeback, he spoke at a general motors assembly plant and touted the success of his auto industry bailout. as abc's jake tapper reports, mr. obama had one eye on the resurgent business, the other on the election. >> reporter: it was something of a victory lap. >> i notice the mood's a little brighter on this particular visit. >> reporter: president obama today brought south korean president lee to a general motors auto manufacturing plant in lake orion, michigan, that two years was on its death bed. but one of the results of the $62 billion restructuring and bailout of u.s. automakers is, today, that factory employs 1,750 worker, building chevy sonics like this one. >> they took the keep keys out! >> reporter: all part of the president's pitch to rust-belt states critical to his re-election. that he's been willing to make the tough decisions to help this country recover from the recession. >> for every cynic that's out there running around saying it can't be done, there are a whole bunch of folks who are saying "yes we can." >> reporter: the white house says the

general motors paying $5000 bonus in and how come the protestors in occupied wall street are upset about and top 20 paid back tarp and profit . not upset about gm paying bonus to workers. >> are you worried about this? >> i am not worried about the signing bonus and i hear what you are saying about the profit sharing. it looks like a good deal for taxpayers because gm is essentially on the government dole. they have no increase in become pays and new hires get half of the pay of veterans . the issue is, that you want to have solid economic policies before you bail out the car maker to get them to grow again. if we go in a double dip car sales will plummet and gm will be back in the government's emergency room. >> steve what do you think? >> for once it is not too bad it is front load a one-time costs. but gm and chrysler have to remember. cono more autobail outs. house republicans are going to block it. i am sure ford did because they never took the bail in the first place . no more candy from uncle sam. >> our informers have funds that keep you safe. bring your pen and paper. p >> when

. >>> president obama and the south korean president toured a general motors plant in michigan today.will create more jobs in the auto industry but it is other jobs that has many worried. >> reporter: at a general motors plant in michigan, president obama told workers his $60 billion roll of the dice was worth it. >> ~i can stand here and say the investment paid off. >> reporter: two years ago with the auto industry on the brink, president obama decided to loan taxpayer money to general motors and chrysler after both declared bankruptcy and needed financing so they could restructure. that decision, mr. obama says, saved countless jobs. >> the hundreds of thousands of jobs that have been saved made it worth it. >> reporter: the president along with his south korean counterpart, president lee, sporting a tiger's hat, celebrated a new free trade deal and checked out the chevy sonic, only sub-compact car made and sold in the u.s. yet washington still continues to grapple how to create more jobs in other sectors. earlier this week, the president obama's jobs plan was rejected. senate repub

and i asked the president of general motors china if that was going to happen.in the markets where those cars are being sold. so as of now, he told me, explicitly, that there are no plans to move jobs from the united states to china. but that said, with the electric vehicle production and development taking place there, it's certainly something that might make sense down the road just from a business standpoint, but not something they're planning on. >> how about asides from gm, any american car companies doing business in china? >> gm was first in that market back into the 1990s. volkswagen, not an american company, got in around that time, as well. ford has been a little later to the game. but their plans to beef up the brands in china are booming right now. they want to add about 15 new models of cars into china in the next five years. right now, ford has five. >> all right. rebecca jarvis, thanks. >>> jeff glor is at the news desk with a look at some other news stories we're following this morning. >> in eastern turkey, more survivors were pulled from the ru

general motors is -- alert. general motors is recalling suv from 2012.hey have problems from tire pressure monitoring systems and it affects 33,000 vehicles built from july 18th through september 6th. the suvs have been selling as fast as they can be made with september sales of the equinox up 33% and the terrain up 45%. >>> even those of with us common credit cards will be able to use them at neiman marcus. they will accept master card and visa next month. until now the neiman's own card american express and cash were the only things allowed. >>> government study finds thethe richest 1% of americans have been getting richers and the middle class and even the poor have seen their after tax household income only crawl up by comparison. income from the top 1% of the u.s. households tripled during the past 30 years. >>> well, a new report says fewer people are hitting the roads. the department of transportation says travel on the u.s. roadways is at the lowest levels since 2003. the first 8 months of the year there have been 26 billion less miles traveled c

i took a look at top 50 companies, they're like wal-mart, safeway, target, general motors, disney, i mean, are these really evil companies? and even, brenda, if you say that they're really talking about the banks, you look at some of the banks and they're wells fargo, citi, jp morgan chase, these banks alone employ a million people. there's always this notion, there's all of these corporate fat cats, i can guarantee you at citibank, most of the people that work there, 2, 300,000 are tellers, they're security guards, they're back office people. and finally, brenda, when they denigrate corporate, this evil corporate america, let's remember that the vast majority of people out there with 401(k) and pension plans are invested in the at & t's of the world, the verizons, doing this not only hurts job creation, it hurts everyone's pocket book. >> toby, they also were targeting small businesses, they went right to the u.s. chamber of commerce. >> yeah. >> well, really, they should have resume's in their hands. if this is about getting employment, get resume' and small business people are the

my dad worked and general motors factory, my mom was a secretary in a township office. you know, they taught me some pretty good values about, that we would be judged about how we treat the least among us, etc.. flint was a great place to grow up. it was a middle-class town. our guest and not have to have a college education to earn a good wage. it puts food on the table and a roof over our heads. my generation was able to go to college. we had vacations every summer that were paid for. we had health insurance, everything. it was a quite a good existence. and the rich, the general motors executives and the top brass, they lived a really good life. even though there were paying a lot of money in taxes, they were taxed duffel monte, a full load. they paid it all. and i seem to remember them living in really big mansions, having a great life. and for some reason, i guess that was not good enough for them and their class. they wanted more and more and more. and and of was the dirtiest word in their language. so they could not get enough and they still cannot get enough. gro

merican motors used to own jeep i have no doubt you have chrysler and if general motors have been allowed to fail other automakers would have bought good parts of those companies and we would be rolling along much faster than we are now all right now we're going to john mayer who nasa everyone who worshipped her calm down and turned and ran their blood and then i said this guy should here want to go to you what do you we were talking about social democracy is there a new social contract in the air now because of this crisis. the old fossil contract is still here look this raving about about the income distribution is foolish nonsense the reason it's foolish nonsense is because he's entitled to his opinion but he's not entitled to his facts the facts are that the reason there's a yards of research on the question of why the income distribution is spread the answer is because the failure of the education system we just have a large number of people who were illiterate and are island richard richard i want to give you the last words in killarney second scripture the last last word go ahead.

overwhelmingly opposed by americans it never should have been done we should all let chrysler and general motors go down and i have no doubt that if they had it happened they're good assets would have been bought by other automakers maybe some new automakers would or is it would have arisen i live near and what is can osha wisconsin and i was into no should just last weekend people in this country forget there used to be a big four automakers the big the fourth was american motors which used to be headquartered in include osha when kenosha went down part of that company was bought by chrysler people forget that air merican motors used to own jeep i have no doubt if chrysler and if general motors have been allowed to fail other automakers would have bought good parts of those companies and we would be rolling along much faster than we are now all right now we're drilling in the end of january when asked everyone who. ran their budget is going to i should hear if i go to you when you were talking about social democracy is there a new social contract in the air now because of this crisis. the old s

and is fueling demand for cars. >> how important is china to general motors?ina's the largest market in the world and it's the fastest growing market in the world. there's over 100 cities with more than a million people. >> last year 16.6 million cars were sold here in china. that's 5 million more than sold in the entire united states. and that's a key reason why general motors believed it must do business here in shanghai in order to remain competitive throughout the world. gm produces three brands in china, buick, chevrolet, and cadillac. most popular is the buick excel. gm sold more than 200,000 of them last year. but as gm's business in china continues to grow, that doesn't necessarily mean more jobs will be created at home in the united states. >> our philosophy is we largely build where we sell. so where you have excellent production facilities in the u.s. and in europe and in china, in korea, we don't try and ship into those countries on our normal strategy. >> china just isn't an aattractive market because of size. local demographics and social norms p

first of all the ceo of general motors is here. [applause] their areas. -- there he is.resident who helped make this agreement possible, that is my dear friend bob king. [applause] and my u.s. trade representative who spent a lot of long nights with his korean counterpart koreanron kirk is in the house. [applause] i just want to follow up president lee's remarks with a few words about what the korea free trade agreement will mean for american jobs and for the american economy. in the last decade, we became a country that was known for what we bought and what we consumed. a whole bunch of good sporting gear from all around the world -- a whole bunch of goods poured in from all around the world and we created a lot of debt to buy those goods. it did not necessarily produce a lot of jobs here in the united states. when i took office, i was determined to rebuild this economy based on what this country has always done best, not just buying and consuming, but building, making things, selling those goods all around the world -- made in america. [applause] that is why one of the

. >>> general motors plans to sell an all electric car. it can travel up to 100 miles on a battery. >> reporter: the first electric vehicle is slated to hit the roads 2013. general motors are predicting the compact car will appeal to commuters. >> it is more urban. city dwellers will be attracted to this vehicle. >> reporter: they hope the spark will ignite new sales at a time the volt has yet to take off. fewer than 4,000 have sold this year. gm won't make the goal of selling 10,000 by the end of the year. chevy is trailing the nissan leaf in sales. >> people believe electric vehicles are p wave of the future. >> reporter: when it comes to buying electric vehicles, the majority of consumers worldwide are not ready to make the switch. >> people are looking at this saying i'm paying more to not go as far as i would like and take longer to charge. it's making people say i'm not quite ready for an electric car. >> reporter: not ready now, but azts as technology goes. whether spark will be the game changer remains to be seen. michelle franzen,

chryyler and the u-a-w striking a new labbr contract...following similar deals for general motors anddeal set to create 211hundred nnw jobs at the bailed-out automaker. first the volt... now the spark. g-m planning productiin of an all-electric version.... of ts spark mini-car. the spark hitting the road in 20-13. meentime the bargain hunners... are backk u-s storee open for a year or - more. that's three ptraight monthly gains. pepsi making more as ou pay more a pepsi. the soda and snack giann serving &p the company's been ts.- hiking prices to offset risinn business. i'm loriirothman. commng up... a ab story... like yoo've ever heard efore. pefore.((911 nats: "get someone else here. he neees help. the policeman is down. down."))aamaryland cab driver becomms a hero... affer she jumps into her cab. spect 3 bge's instant discounts got our homeowner to switch to energy star® cfl bulbs. 3-way cfls really click with my style. learn to speak the language of energy efficiency at bgesmartenergy.com. 3 -3 ,3

. >> general motors recalling some of its suv. >> we will show you which ones, and what you need to knowf you are driving them. >> there are still a few showers on hd doppler. a significant cold front is making its way through maryland right now. we will show you the impact that will have on our weather. we might even see a few snowflakes this weekend. 63 right now at the air >> coming at new at 6, find out why rev. shirley gravely-curry finds that -- believes she is guilty for her husband. we'll have these stories and we'll have these stories and more when you join us so to save some money, i found one that uses robots instead of real people. 'cuz robots work for free. robot 1: good morning... robot 1: ...female child. sfx: modem dial-up noise woman: are there flaws? yeah, um, maybe. anncr: there's an easier way to save. anncr: get online. go to geico.com. get a quote. 15 minutes could save you 15% or more on car insurance. >> up 5-year-old ohio girl came home to an empty house decided she wanted find her mother, so she climbed behind the wheel of the family suv, manage to start it, but

right now we're in meets with general motors today, global unions and general motors and one of the point it is company was making that i concur with is that we think that the 13 million... because a lot of people are buying replacement vehicles. of course we'd love to see it back up to 16, 17, but if we stay in the 13, 14 area we'll have healthy companies. our members will share profit sharing. we'll be building capacity and strength for the future. >> reporter: and more broadly where, of course, in this era where we're see manager states push back against their public sector unions and more states talking about or implementing right to work laws, how do you make a case now for for traditional union in our era. >> the best example is the auto industry. here's business, management, and labor. rather than pole orrizing and taking positions we dime the table collectively. we said here are the issues, how do we do creative problem solving to help the companies and our membership and we showed both during a period of bankruptcy and now with this agreement that we can work together for the goo

is also a great honor for me to represent the general motors co. and a family of general motors. i am very proud that gm had a long and has a long, strong relationship that supports this item of as a memorial. it has been two decades in the making but today, dr. king takes his place in the pantheon of american heroes. it is a monument to one man's dream. it is a memorial to the people who sacrificed and risked everything up to and including their own lives so that generations to come with live together as equals. it does not mark an end. our historical ambion of creating a more perfect union can, by defition, never end. as dr. king showed us, the power to create a more perfect union lies in each of us. un die, we can correct injustice. we can work for equality and we can work to improve and eliminate poverty in our country. we can do so with and all law and through the institutions that defined as a great. nation this tomorrow reminds us that not only can we make america better, it is our responsibility to make a better. on behalf of chevrolet and gmc and foundation and everyone

much more on this with the panel. >> president obama and the south korean leader li toured a general motors assembly plant in michigan. the visit was meant to highlight the mew trade deal between the two countries, which is supposed to make it easier for american automakers to sell their products in south korea. we learned this afternoon that the u.s. government ran up its second largest budget deficit on record in the 2011 fiscal year that just ended. the final figure, $1.3 trillion in the red, that was a little more than the previous year, but below the $1.41 trillion in 200 19, the highest ever. ritail sales were up 1.1% in september, the largest gain in 7 months, sending the dow to the best week in a month and positive territory for the year, gaining 166. s&p 500 was up 21 to finish its best week in two years and nasdaq was up almost 2%. congressional republicans are digging deeper into the half billion-dollar federal loan guarantee for a solar panel maker that has filed for bankruptcy. chief congressional correspondent mike emanuel shows us what happened today. >> reporter: much of the

forrepublicans rival obama's job, and the is taking the south korean president to michigan to visit a general motors plant. chevrolet is building its first compact car in 40 years. we're learning more about his itinerary. stops in asheville on monday. he will also visit of charlottesville, newport news, and fredericksburg in virginia. >>> 7 on your side. the new apple iphone 4s has its stores. the district, folks lined up chinatown at the apple stores. all of them hoping to get their hands on the new phone. if similar scene in new york city this morning. the new iphone looks similar to previous iphone, but this as an upgraded camera, faster processor, and improved voice activated software. >>> huge crowds are expected in washington for the dedication of king jr.n luther memorial. scheduled forlly the weekend hurricane irene hit. now it begins on sunday at 11:00 a.m. president obama, desi? and, and aretha franklin are among those expected. the arrests, king leadership academy are arriving today. metro will open at 5:00 a.m. morning to help accommodate traffic. coming up -- >> i was almost relieved wh

. >>> president obama traveled to michigan today to tour the general motors with south korea's leader. several gop presidential candidates are also on the move today. fox's jennifer davis has our political wrapup. >> president obama says he brought the south koreaen president to this general motor plant to highlight a bright spot of economic news. once on the brink of closing, the plant is now back in business. creating a car built with koreaen parts, thanks to a government bailout in 2009. >> i can stay here and say the investment paid off. the hundreds and thousands of jobs that have been saved made it work. >> the president says they are hopeful a trade agreement will generate more jobs, too. >> every $1 billion in exports support thousands of american jobs. >> at a pennsylvania steel plant, gop presidential hopeful unveiled his own jobs plan that focused on increased energy production. >> the quickest way to give our economy a shot in the arm is to deploy the american ingenuity that is half american energy. >> perry has fallen in the polls, following a few shaky debate performance

. >> you said, quote, if general motors, ford and chrysler get the bailout that the chief executives asked for yesterday, you can kiss the automotive industry good-bye. >> that's exactly write. if you write a check, they're going to go out of business. >> out of business? willard, check this out. the auto bailout saved 1.4 million jobs. 1.4. let that sink in. 1.4 million. it also prevented over $the 6 billion in personal income losses. $96 billion. kept in the pockets of working-class americans. republicans might have selective memory. but this guy doesn't. >> two years ago it looked like this plant was going to have to shut its doors. all these jobs would have been lost. the entire community would have been devastated. i refused to let that happen. the hundreds of thousands of jobs that have been saved made it worth it. an american auto industry that's more profitable and competitive than it's been in years made it worth it. the taxpayers are being repaid the investment paid off. >> i love it. president obama has a proven track record on jobs, saving jobs. republicans can't say the

general motors is the bottom of the heap when it come to revenue and operating income. >> by the way,is ron bloom. >> and dennis. i saw you put your head down. >> i can't i believe i heard to say look to congress for an answer. anyone beholooks for congress will have a bad thing happened. >> but dennis, the point is they owe them money. we know that congress is a disaster and the reason why it continuually domino. but 75 billion is a lot of money. >> talking about privatizing the post office. rural areas that a private business would not cover. >> private business will figure out how to do it. everyone has a cell phone and 20 years ago they cost $4000. and today they are cheap. >> rural area doesn't get postal service. move. >> and we'll go all right, guy,. inflation is here and making it more expensive to fill your family and tank. to help you pay all of those bills, their picks, coming up next . or hires another employee, it's notust good for business. it's good for the entire community. at bank of america, we know the impact that local businesses have on communities. that's why we

. >> at 6:00, kelly, general motors is recalling more than 36,000 chevrolet equinox and crossover suvs. gm wants to fix the tire monitors that don't work well. they should warn tires when the tire pressure drops 25% below the pressure. in the recalled vehicles, the warning light doesn't come on right. it could lead to a blow-out and that's the crash. so far, there's no o crashes or injuries to tell you about. the recalled vehicles were built between july 28th and september the 6th of this year. they will update the computer that controls the monitors free of charge. >>> harper trucks is recalling 220,000 hand trucks when the tires overinflate. they can cause the real hub to break. there are, are 19 reports of people being injured including broken bones, contusions and for more information on this, call harper trucks. 835-40 the4099. if you love pine nuts, they are recalling 500-pounds of turkish pine nuts. the upscale grocery store chain, the pine nuts, destroyed by july 31st and october 18th. >>> salmonella bacteria could cause diarrhea and stomach cramps. >>> thanks a lot, jamie. >>>

in 2008 just as the extent of this recession became clear, ford proposed a merger with general motors. fast forward to today and a different story. the fort motor company reached an agreement with the united auto workers on a deal that shows how far the company has risen from the ashes. ford has agreed on a deal to add 12,000 new jobs and pour over $6 billion into the plants. they are from mexico, japan, and china back to the united states. the uaw agreed to give up quite a bit of the new jobs and pay entry level wages, just half of the salary of a veteran ford worker. it's a job for someone in michigan and kentucky and ohio to support his or her family. at a time when we see our do nothing congress try to push tired old proposals down the country's throat, cuts to education programs and home heating programs and women's health programs. isn't it great to see a major corporation work with the 41,000 union members for the common good. through cooperation, fort is building itself tough. congress, they couldn't start an imagine let alone move forward. we invite you to follow us on twitte

they'll tour the general motors assembly plant in lake ryan. mr. obama and mr. lee will talk about the trade agreement reached between the united states and south korea. president obama says the long awaited agreement is good for both countries. the deal could reportedly expand u.s. exports by $11 billion. >>> not even last night's thunderous downpours could dampen the spirits at the white house state dinner. the skies opened up as guests started to arrive last night. many of the hems of the guests' floor length gowns were soaked, and men's tuxedos also got wet. >>> the big question this morning, who was michelle obama wearing? the first lady wore an asymmetrical violet gown by a korean designer zu lee chung. she topped the entire ensemble with her black and crystal belt. i thought mrs. obama looked perfect, stunning, gorgeous. >> she always does. >> right. but so beautiful. you know all of a sudden is going to get a big huge boost is the korean-american designer. >> he's not selling hit stuff at target. >> she. but not yet. we could see a line, let's hope. >> o