a scottish-born tinkerer named buick formed the country that became general motors. for a factory town, war meant work. in the teens and '20s, flint's population quadrupled. gm headhunters sought out dirt farmers all over the midwest and the mississippi valley handing them one-way tickets to the vehicle city as flint nicknamed itself. the newcomers slept in shacks, tents and railroad cars. earl's family rented a tiny house, all he could afford on his factory pay. after the war earl tried farming again, failed again and returned to flint for good. everett grew up a city boy with no agricultural ambitions. after graduating from high school in 1933, he enlisted in general motors as an apprentice tool and dye maker at 50 cents an hour. the job could disappear in a day. if a supervisor wanted to hire his brother-in-law, he created ap opening by handing a worker a yellow slip, the color of termination. bachelors were laid off while married men with lower seniority kept their jobs. the supervision, they had no control either, everett recalled. you could come in today and ha

carmaker general motors is among them. it marks a further deterioration for a foreign economy are ready disseminate it -- already decimated. >> stores are shuttered in downtown cairo. the banks and stock market are closed. three major multinational companies, general motors, electrolux, and shall, -- and shell, have temporarily suspended their operations in concrete sign of this week's clashes. >> with regard to my job, there are a lot of factories, shops, and traders who have been hit hard and still cannot recover. >> the economy has been struggling since the overthrow of hosting mubarak -- of hosni mubarak in 2001. -- 2011. bringgime has failed to down oil prices or tackle the unemployment rate, which officially stands at 15%, but which economists believe is much higher. analysts say food inflation stands at around 20%. tourism has slumped. >> of course, tourism will be impacted for even though -- even a longer period. of course, recovery will be postponed. bia, kuwait, and the united arab emirates have offered billions

what is the chart looking like on general motors? >> it suggests you want to take this late summer squall to risk aversion to add more high quality stocks, more specifically general motors, the fact that they're buying it reenforces my conviction. when you bring up that stock, you see a chart that has almost doubled over the last 12 months. tracking this trend we run into high end resistance up once again at the high end of that trend channel. but what i like is the day below the 50 moving average. why do i like a break below the 50 day? look at the last time we did that, june 24th. it produced to be a false breakdown, it provided a catalyst for the next 12 months. i think history repeats itself. this stock trades this fall. you want to be a buyer along with warren buffet. >> steve, do you want to buy because warren buffet bought? >> i think it'sant to drive into the ditch. the reason i say that is housing. the auto sector typically follows the lead of housing, people buy new cars when they feel good about their homes and are making

let's take a look at the stock of general motors, down abo about .66%. phil lebeau has this story for us from chicago. >> reporter: tyler, we always say you build where you sell. job motors has a lot of facilities there and that's why there's a report today out of reuters in south korea saying general motors is considering, has not decided officially, but is considering lowering production substantially in korea. the problem here is that they are fighting rising production costs in south korea. this is no longer a low-cost country when you look at automobile manufacturing. when you look at annual, they build 20% of its vehicles and if you're using some place as an export base, you need to lower your costs and as you can see they build a lot because they sell a lot in north america and same with international including china. finally for gm, the important thing to focus on here is that asia is increasingly being driven by the chinese market, and they are putting more of an emphasis on china when it comes to vehicle development. it's a big change from the e

. >>> plus, one major sign that general motors has its mojo back. "early today" is back in two minutes. >>> some stories making headlines -- a 16-year-old boy will face a judge in court today charged as an adult in the murder of an 88-year-old world war ii veteran. police say dimitrius glenn robbed, beat and killed dell bert shorty belton. >>> the search surnd way for a second suspect, keenan adams kinard. >>> ruth bader ginsburg tells the "new york times" she vows to stay on the supreme court as long as her health and intellect stay strong. the 80-year-old called the court one of the most activist courts in history. >>> israelis are stocking up on gas masks amid fears a western attack on syria's chemical weapons could provoke a response from damascus. the demand has tripled. >>> colin powell says martin luther king jr.'s dream is not fully achieved yet. powell also had this to say on the trayvon martin case as washington marked the 50th anniversary of the "i have a dream" speech. >> i think that it will be seen as a questionable judgment on the par

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general motors opened these buildings while they were receiving t.a.r.p. money from the federal government of the united states and closing plants in detroit which is now bankrupt so they could open plants in china. gm, cars rolling out say buick. that plant and the joint partnership which the chinese government forces them into is 51% controlled by the shanghai automotive corporation which is controlled by the communist party of china. the only thing gm put in was all of the money and the technology and the know how. the chinese run it and, in the long run, own it. so no change there. i wallet to show you something here -- i want to show you something here. this is an oath mandated just last year for all lawyers in china, i swear to faithfully fulfill the sacred mission of legal workers in socialism with chinese characteristics. i swear my loyalty to the motherland, to the people, to uphold the leadership of the communist party. i would like to find out something, socialism with chinese characteristic, our first speaker this morning talked about national

they also had that it could lead to an upgrade for general motors in the next 24 months.heryl: we will see you very soon. we are rounding out the month of august, youucannot help but wonder if the markets did not get ahead of themselves. >> i think that is probably right. the trend is still negative. the market set to close down about 2.5%. this is a little bit of a concern with the rise of oil prices that we have seen. my thinking is, you may be able to bounce through the holiday. on average, stocks tend to do well before and after. we will see what we did. we need to make a lot more progress to the upside. the tapering is still lingering. i want to take that over to scott at the cme. we have to go back to last year. middle of september, that may be an issue. that could be another market negative. >> right. the market is arguing with itself right now. we have a new fed chair on the horizon. we have obamacare on the horizon. there is a lot that we have to worry about. i think right now we have half the market arguing that the glass is half empty. i will tell you that the

. >>> 4:24 now, the super cruise system may be the next big deal for general motors. the high tech tools aimed at letting its new car drive by itself. >> it's the talk of silicon valley, a high profile bay area couple is calling it quits. >>> liz check out the forecast, we take you in to a beautiful place today, walnut creek, it will be sunny and warm, temperatures in the mid-80s. >>> and you don't see this trickle box too often or triple shot, we have three bridges, bay bridge shut down, of course, 8:00 last night and the work now continues at the toll plaza and in the meantime san mateo bridge is a little busier than usual at this time of the morning but moving fine. and the golden gate bridge, nice flow from marin county into san francisco. closely watching your time saver traffic throughout the morning. >>> happening today, american airlines will be in bankruptcy court over its proposed reorganization plan. american is trying to merge with u.s. airways. that would make it the largest carrier in the world. the government has filed an anti trust lawsuit challenging

you work at general motors. you had a job guaranteed for life. you had a nice middle class life.lass jobs are not there the way they were. now we are looking at the jobs in the restaurant and service industries. >> yeah. it's really quite extraordinary when you think about it. the biggest employers today in the united states are walmart and right below that are fast food companies, mcdonald's, pepsi, taco bell and the like. but back in 1960 or early '60s the biggest employers were the huge profitable industrial companies, general motors, ford, bethlehem steel and u.s. steel. you have seen a shift in the job creation. that is magnified as you said during the recovery, the recovery that we have had, what we have had, because the vast mantle of jobs have been not in the middle but really have been on the lower end of the pay scale. not necessarily minimum wage but not much higher than that. >> it raises the interesting question at what point is the minimum wage if you do raise it become a middle class income. it's not going to happen at ten bucks and not raise a family on ten bucks

we've got phil lebeau on the rollout of general motors's highly anticipated 7th generation corvette,ditor fancy cars over there? >> yeah, well, you know, vintage cars, collectible cars have been fantastic investments, up 22% this year, but some wonder whether prices have gone up just too far too fast. let me tell you what i'm talking about. there's a 1939 mercedesroadster that is expected to sell for $7 million. 1955 ferrari, expected to sell for twice that. ferraris up 50%. prices far below their peak before the crisis. wealthy collectors here tell me that rising values help they justify an otherwise expensive hobby. let's take a listen. >> we're all nuts here. we have sort of motor oil in our veins and we think this is a great investment. and just so happens it worked out. >> reporter: thought i found one car i could afford, not this one, a bugati, sell for $8 million, one of the stars of the show. it's this car. this is actually a toy pedal car from the 1950s a good buy for the kids. estimate on this? 50 to $75,000. into amount of money, i think i would rather one of phil lebeau's

trabajar no era opc >> si actualmente manejas un vehículo ford, nissan, toyota, chrysler, honda o general motorssted puede ahorrar, llame al número que aparece en pantalla, representantes altamente capacitados, trabajarán para darle las mejores opciones. opciones que incluyen desde entregar su carro por dinero o simplemente

llevar equipo y smus >> si actualmente manejas un vehículo ford, nissan, toyota, chrysler, honda o general motorslla, representantes altamente capacitados, trabajarán para darle las mejores opciones. opciones que incluyen desde entregar su carro por dinero o simplemente

general motors is suspending operations in egypt, the home appliance maker electrolux, with around 7000 employees is following suit. shell, the oil giant, will be shutting offices in cairo as the violence plays out. none of these companies say they are leaving for good but this highlights the choices they are facing, and the kind of choices that egypt is facing at this stage. inr since the revolution 2011, the egyptian economy has taken a hit as growth goes down and unemployment has gone up. one of the worst affected sectors has been the tourism industry, we have seen a lot of tourists in the past few years going into egypt, but that flood has turned into a trickle. we have more on that part of the story. flight 4 --rance four cairo is about to depart, but there are no french tourists on board. her family still lives back home and her trip has been land for some time. >> i really did think twice about going. if i had known this was happening, i would not have gone. but i bought the ticket and my family reassured me. i am not that worried. it was all different before the 2011 revolution.

general motors up 78%. why is there still upside to these two names?hings, a strong part of the u.s. economy. look at production and think there are a number of positives. clearly seeing, in the case of gm, new models. ultimately when it comes to north american auto sales the average car and the u.s. right now is the oldest of has ever been. at this point it's something like 11 years old up from just nine years just 50 years ago. cars are all the need to be replaced. gray fur sales. manufacturers are the way to play it. these two in particular have company's specific catalyst. liz: we love to see the automotive industry come back. thank you. great to see you, patrick. brandywine bubble managing director. saying delta, and he believes that merger will come through. we are six and a half minutes away from the closing bell. coming up, more on my quick phone call with billionaire investor carl icahn just after he announced his stake in apple and it is not just apple stock. wait until you see the related stock that is rallying ahead on fox business. we will

we learned general motors closed its factory there. violence flaring up.r companies follow through? we will speak with rostelecom holdings executive chairman. copd makes it hard to breathe... but with advair, i'm breathing better. so now i can help make this a great block party. ♪ [ male announce ] advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working together to help improve your lung function all day. advair won't replace fast-acting inhalers for sudden symptoms and should not bused more than twice a day. people with copd taking advair may have a higher chance of pneumonia. advair may incrse your risk of osteoporosis some eye prlems. tell your doctor if you have a heart condition or high blood pressure before taking advair. ask your doctor if including advair could help improve your lung function. [ male announcer ] advair diskus fluticasone propionate and salmeterol inhalation powder. get your first prescription free and sa

>>> buen fin de >> si actualmente manejas un vehículo ford, nissan, toyota, chrysler, honda o general motors para darle las mejores opciones. opciones que incluyen desde entregar su carro por dinero o simplemente

also like the look of general motors. increased by 64%. berkshire also increased and fargo by 1.1%. coca-cola unchanged. tyler, back to you. >> thanks, josh lipton. more markets after the break. this is a very busy, maybe pivotal day. what's behind the better stocks we've had in two months. could it be an opportunity to get behind the red arrows. >>> plus a rash of burglaries at the apartment building that how'ses ma houses many of the rich and famous. michael buble lives there. we'll explain when we return. before their gift helped preserve the point... before a credit solution was used to expand their business... before trusts were created for their grandkids' educations... they chose a partner to help manage their wealth... one whose insights, solutions, and approach have been relied on for over 200 years. that's the value of trusted connections. that's u.s. trust. >>> an increasingly down day for the market overall. the department stores post ag better than expected 18% rise in second quarter earnings as it continues to lift margins and expenses for the year. dillard's, what you

nobody is saying ford is going to pass general motors, but gm is at 18.1%.where ford is, up .6 of a percent. and guys, i have so show you this picture. today there was a worker here at the flat rock plant. he's been with ford for more than 30 years. he stopped and said, i love what you've done for this company. please autograph my shirt. there you have a picture of it. shidel guron, i think i mispronounced his last name, he's walking around behind me. you don't see that often, someone at cnbc signing a shirt. >> let's leave out the trains for a second and go to cars and planes. let's bring up a chart and show our viewers what's happening with the shares of boeing. they're up slightly on the day, but you know what, it is actually having a good impact on the dow. now it's up 1.6%, so a really good gain. the company issuing a warning about a coming pilot shortage, phil. someone has to fly these planes, right, or are they going to make a dreamliner drone in the future one day? >> mandy, i'm not sure if this is a warning as much as it is boeing saying, look, ther

. >> big news tonight for general motors. top ratings from consumer reports.the image skoon partnered with 7 on your side for a look at that rating. >> this is so cool. impal yeah outscored more foreign made luxury sedans. the impala has been around since 1958 back be then the best selling car in america. matthew has been restoring them since he was in high school. >> they have become a classic. they're luxurious, handle well and have been a great looking car. >> imhas been redesigned and over the years tell on tough times becoming uncompetitive. but for 2014 chevolet has come out with a new impala impressing consumer reports auto team. >> it rides like a sedan. acceleration is quick and handling agile. >> the top of the line version costs around $39,000 and comes with advanced safety equipment. that is a big change from the 1958 impala with no seat belts and no air bags. old impal yaz had am radio new impala is state of the art. the system has a simple touch screen but there are still good old knobs and buttons, too. >> we've seen big improvement in qarz a lo

and this is particularly good news for general motors. this stock is up 70% in the last year.m has lost money in europe for the last 13 years. so mandy, they're not saying they're going to make a profit next year, but they'll get closer to that. s&p capital raising it to a bye rating. we can report to you that ford is going to be restating the mileage estimate for the cmax hybrid. it was 47. we understand it will drop down to 43, the company making the announcement a little later today. remember, back in december, they said it gets 37 miles to the gallon, but this is important to a number of vehicles when it comes to how the automakers calculate miles per gallon. a lot of people said they should be lower than what's on the sticker. >> thanks very much, phil lebeau, and thanks for the bullish news in the sector on a day like today. up next, the top three things we learned from mr. greenburg. i learned a lot more than three, by the way. plus, a fundamentalist goes through his top three picks. just a quick check on what those markets are up to. the dow is off 12.3 points right no

take a look at ford versus general motors in the last year.ll the auto stocks have had a nice ride over the last year, and sue, you do not want to miss what we have coming up on "street signs." a picture of alan mulally here on the assembly line doing something you never -- i should say rarely -- see a car manufacturer do. >>> fast food workers across the country are on strike today, demanding the right to unionize and to potentially double their minimum wage to $15 an hour. investors don't seem to mind. in fact, wendy's and burger king are in popular territory. jackie deangelis is in new york where some of those protests have been taking shape. jackie? >> good afternoon, simon. new york city is just one of 50 cities across the country where you said fast food workers have taken to the streets to protest higher wages and also to ask for the right to unionize. now, hundreds took to the streets in midtown before they made their way downtown here, and they were chanting things like, 7.25 is not enough to survive. and they emphasized that to me wh

. >>> general motors hopes new lower prices will help boost sales of electric car. 2014 models are due out soon. knock $5,000 off the sticker price. that will bring the cost down from $40,000 to $35,000. government tax rebates can bring the price down even lower. >>> conscious shoppers who go for organic are in for surprise. why it may be a fancy title with nothing behind it. we are two days away from 49er football. we are counting off to kick off to the niners first preseason game. the defending champs take on the broncos thursday at 6:00. conventional stawberries.. d organic. >>> strawberry season is in full swing and most super markets give you a choice. conventional and organic. before you pay more for organic. check out what linda yee found out on kpix 5. >> it's a summer favorite, strawberries. but there's something about the organic ones that consumers don't know. they are actually not 100% organic. just ask jim. >> there's a gray area in the rules. >> he's been growing strawberries at his farm without any pesticides for decades, but they are not raised from

. >> it didn't help the general motors workers. >> eric: grandson says how many times do you have toe dollar? that is a good point. >> then they leave. like kansas, iowa, north dakota and oklahoma have unemployment rates at 5% or below, the right to work states. the right to work is a right to life to michelle's point. right to choose a job and not be forced to choose the union dues. >> eric: wayne another good example, says they will open the brewery in a right to work state. unless they get the move they are looking for. >> that make sense obviously. private corp realistic, right to work state. we know from 1998-2008, texas gained million jobs. texas is a right to work state. they have a closed shop that they could force you to pay the union dues regardless if you're a member of the union or not. that changed the task from 1947. there was a time they thought it was fair. >> eric: ebony, you said the unions do good things. help me out. what do they do? >> they can help with advocat advocating. some people can't do it on their own. some n a perfect world you could say the work condit

. >> the largest employer in america, john, 40s, general motors, ford was number two. now it's walmart and amazon.com and mcdonalds. look at those guys. they're good jobs for kids coming out of school but you have grown people, retired people and others. it's turned into a service economy and the grade industrial productive nation exported its factories to china. >> walmart -- >> do they come and go, according to sales? >> they come and go. >> walmart would refute what you just said, in particular. there are many jobs in their structure and those can be good paying jobs but there's a conflict going on in the district of columbia, where the local council wants them to pay a living wage, not a minimum wage, and walmart is saying if they're made to do that, they're not going to come in at all. so the mayor is faced with a very difficult -- i suspect he will veto the council's resolution and the folks need the jobs and they're not in a position to demand the higher age. >> jobs in america is the most important for the family structure, for the economy, for every part of am

toyota, general motors, is a suzukiy among the places closing down plants. more on that coming up inside fox report. now to the doctor accused of giving toxic chemotherapy treatment to people whether they needed it or not so that he could scam the government. in a big way. former patients and their families have formed a support group now and they say they are exploring legal options. that doctor diagnosed people with cancer and gave chemo treatments that they did not need in order to steal $35 million in medicare claims from the government. they say the scam took place over a two year period. the doctor's attorney says the claims against his clients are false. i spoke with a member of that support group today on "studio b." he says his father seen here had cancer and died in 2008 and received chemotherapy from doctor. >> make the office staff member would come out to the parking structure where my father had his car and they would actually administer the chemotherapy right there in the garage as he sat in thinks car. >> as a matter of convenience. federal a

tesla and netflix, tesla is a $16 billion market cap company, one-third of the market cap of general motors. if you project over the next ten years, do you think tesla is going to make one-third of the profits of general motors? go out 15 years. >> doesn't matter. >> i'm not saying -- >> operating margins are a third of what ford's are. >> but in the short term it doesn't matter. if you're taking a long term investment -- >> i have nobody betting on musk or hastings? >> the wealth they have created for themselves is incredible. >> if you look at the stocks over a one-year period, it's an interesting comparison. if you look at a facebook, it looks like like a dog over the one-year period. the other two have done spectacular over a one month period, three month period, facebook has been the winner. it has so much more -- >> who do you think is more surprised about what's happened in tesla stock, musk, who sold some stock -- >> maybe you. >> i'm not surprised at all. i'm not short it. >> we should have had you on the wall. >> that's right. my patina -- what did you say? >> patina. >> your glow

look at general motors.te is still a halo car, is still relevant, and will still bring people in to showrooms. we'll see, mandy, over the next couple of months what kind of generation of sales this buzz does, because it is getting a lot of buzz out there. the question is, whether or not the corvette is still a halo car. >> you know what? sales aside, i saw one of these corvettes, you know, not exactly that one, but a different corvette on the george washington bridge the other day, and, boy, did it turn heads. it's still a beautiful car. >> reporter: they always have. you bet. >> thanks, phil. >>> it's the world's most famous ferrari. and, no, it's not wrecked beyond repair. robert frank is at the california wishing he was back in the news room. robert, what have you got for us? >> reporter: yeah, mandy, in fact, the most famous ferrari here in pebble beach is not actually a ferrari. you may remember it from this famous scene in movie history. let's take a look. >> 1961 ferrari 250 gt california. ♪ ooh, yeah

general motors is knocking $5,000 off the sticker price of it's new 2014 chevy volt. that reduces the starting price on the car to $35,000. incentives on electric cars have been getting more aggressive as auto makers are trying to improve sales. gm offers steep rebates on other versions of the volt. >>> americans are holding on to hold cars longer. the average car and truck currently on the road in the united states is more than 11 years old. slightly higher than last year and almost two years holder than a decade ago, an all-time high. the average age will continue to rise, even as new car sales increase. >>> for more than two decades, small american manufacturers have been closing shop. it's just too hard to compete against larger foreign rivals. today all that is changing as more mom-and-pop manufacturers stage a come back. phil shows us how one cabinet maker is undergoing a renaissance. >> reporter: in zealand michigan has never been busier. >> we added 18,000 square feet. >> reporter: with employees working two shirts, they make custom cabinets for home and offic

. >> i don't understand why they sell stuff that is not -- >> i think general motors is taking marchingers from the white house. i don't think they would be this deep in to it if it wasn't. >> there is no business reason to sell something that is not a disaster. >> neil says try everything. that is what all the car companies are doing. >> fair enough. >> why do they waste money on -- >> neil: fair e enough. let the market decide. >> but it's not a disaster. >> neil: thank charlie and daigen and julie. up next, despite the choppy week for stocks, it's been a red hot year. but there are still bargains to be found. we'll find out which0i0i@&@f j >> neil: well, the markets may be up this year, but the bar gone hunters have stocks on sale for you. charles, what do you have? >> ben called it. coal. coal is so beaten down, there is a war against it, but cliff natural resources i think it goes higher. >> neil: ben, wh are you doing these days? >> i like rqi. a good long-term bet. >> neil: do you like coal? >> i love coal. >> neil: who doesn't? "cost of freedom" continues. you're watching fox.

general motors is reviving operations and rescuing jobs at a tennessee plant. the auto maker will invest more than $160 million on the facility, where it says it will save 1,800 jobs. gm will build two new vehicles there, although it has not specified which models. meanwhile, the company is cutting the price of its battery-powered volt by $5,000. americans are holding onto cars and trucks longer. the average age of vehicles in the u.s. is now 11.4 years, up from 11.2 last year. as overall quality improves, drivers are in less of a rush to replace vehicles. however, it's not stopping them from buying new cars. currently, auto sales are on track for a record year for the first time since 2007. under jeff bezos shocked wall street by stepping in to buy the washington post. the newpaper stock rallied $24 yesterday to nearly $600. most of the stock's value comes from the washington post also owning the college prep company kaplan. warren buffett is the largest shareholder in the paper with 1.7 million shares. he's made more than a 9,000% gain with his investment. je

general motors is changing its superbowl game plan. the automaker says --- this year-- it will advertise during the big game. the company wants to build buzz for several new models. gm made the call last year to opt out of advertising during the super bowl claiming the rate of $3.8 million dollars per 30 seconds wasn't worth the money. mcdonalds has a mighty plan to boost sales. the company will roll out its so called "mighty wings" nationwide throughout september. it will also beef up its menu with a new wrap and pumpkin latte and subway has a new flavor focus...the chain will add garlic bread as an option for its sandwiches, starting the beginning of september. a federal judge has approved the deal that drops a discrimination suit against celebrity chef paula deen.this latest development comes two weeks after a judge dismissed race discrimination claims brought in a suit against deen by a former employee. the chef has seen her reputation take a major hit after she admitted in a deposition for the case that she used a racial slur. we

general motors topped detroit's big three in sales growth with a 16% increase and as you can see they are ford and chrysler posed sales increases of 11%. >> and ford motors in the meantime agreed to pay a top fine to settle a fight. ford will pay the government 7.35 million to settle allegations it was slow to recall nearly a half million ford escapes last year to fix sticking gas peddles. ford knew about the problem, back in may of 2011 but failed to take action until the agency began the investigation a year later. >>> the billionaire investor carl icon is suing dell in an attempt to stop proposed rule changes for tomorrow's scheduled shareholder vote on michael dell's 24 billion-dollar off. it is aimed at stopping dell from rescheduling the vote and changing the record date. mr. icon believes changing the record date could color the outlook outcome but letting more recent shareholders vote. >>> the international trade commission is delaying the decision until august 9th whether to ban certain samsung phones. commission ruled apple violated some samsung patents and the ban on some i

. >> general motors is rethinking its business operations in south korea. reportedly, gm may have already begun shifting manufacturing out of that country because of sharp increases in wage costs and militant unionism. south korea is expanding operations to china to meet demand. >>> it's day ten, and there's no sign of a deal between cbs and time warner cable. the bitter battle of remissi retransmission fees has resulted in a blackout of cbs programming. the network is feeling the pinch. julia borsten has the latest. >> cbs and time warner may be at the negotiating table, but there's still no sign of a deal. raising questions about the impact of the blackout on cbs. hit the hardest are cbs owned tv stations in new york, los angeles and dallas. where local news broadcasts have suffered significant ratings declines, in los angeles, ratings of the 5:00 p.m. newscast are off by one third. for the 11:00 p.m. newscast, they're down by one quarter. the network's strength the rest of the summer is balancing out local weakness, issuing a statement, saying the net ef

now major international firms halted operations in response including general motors, say sue key and more. >>> la keed martin is trying to figure out what happens next to the multi-billion-dollar fighter jet deal. >> reporter: here is home video from 2007 of egyptian f-16 flying over cairo. the jet nicknamed the fighting falcon is the aerial backbone for many u.s. allies flown by the u.s. air force thunder birds before see quest ration. >> the f-16 is the standard against every other fighter in the world is judged. >> reporter: now egypt turned guns on it's own people and the u.s. is reconsidering whether to supply it with more weapons. >> our traditional corporation cannot continue as usual when civilians are being killed in the streets. >> reporter: the hill is reporting a former pentagon official believes a billion-dollar deal to sell more f-16s to egypt may be quote, dead in the water. the defense department says quote this is a delay in delivery, not a termination. the program is not off. the defense department had already announce add delay of f-16 deliveries in july as the str

g-m plans to knock ks off the 40- >>> general motors is hoping deep discounts can electrify new volt. bm plans to knock 5,000 bucks off their $40,000 sticker price. the auto maker says government tax rebates can bring that price down even lower. >>> companies can record your customer service calls. can you do the same? the answer is yes, but on the consumer watch with quan warren, you better nitryls. >> this is a situation we told you incorrect information. >> shannon was told by three different agents she could cancel her cell service without any penalties if she had poor reception. well, she ended up terminating her contract and got hit with this $1,600 fee. and when vorizon said they were recording her call. >> i said okay, i'm going to record you, too. he said that's fine. he didn't care. so barge we hit the record button. >> and doing so, captured the verizon rep repeatedlied a mitting the company made a mistake. >> actually marked on the account that said you could be wave waived for your fee. i will not dispute that in any way shape or form. >> then why are we disputing it. >>