guest: gm is very big in china. they probably sell more cars in china than the united states this year. they put a lot of energy into keeping its chinese business strong. the beijing auto show is going on now and you see a lot of sales in china rather than tokyo or frank mccourt detroit. that is a big market. chinese auto makers try to get to the united states but that has not panned out so far. the chinese government does not want to allow the chinese auto maker to come over prematurely and tarnished the idea of a chinese-made vehicle. when attorneys are maker is buying volvo from ford. -- chinese -- a chinese auto maker is buying volvo from court. caller: i called about the legacy cost on pensions. you answered that. eventually, the taxpayer will pick up. however, wanted to address the fact that general motors -- the american taxpayers rescued them. canada would not put a dime up until they were guaranteed no loss of canadian jobs. however, 2/3 of general motors employees are outside of the united states. why shou

we have a controlling equity interest in gm. gm, you know, the new ceo, mr. whitaker, has announced the intention of having an ipo. it seems to be an intention that it'll occur, you know, hopefully this year that there's going to be return to profitability for gm, and at that point, again, i think the initial public offering won't be for 100% of the private interest in gm, but it'll start returning to becoming a public company, and we'll be able to better quantify what the government's ownership interest in gm is worth. and then we'll see, basically, if the company continues to profitability, the shares of stock increase, there'll be a continued demand in the marketplace for more shares of general motors that'll give the treasury an opportunity to have subsequent public offerings and to sell off its interests into the market. hopefully, it will be an ever-increasing value into their equity interest. >> okay. thank you. it's very -- we don't have a lot of people here, mr. chairman, at least on our side, but this is interesting testimony. i think it's actually

gm has recently installed some heater window wiper devices. getting the company to put it on their cars, you are up for a battle. in terms of your buick, there were a couple recalls for cruise controls that did exactly what you talked about on gm vehicles and you can contact our website and file a complaint >> another tweet from one of our viewers. what are their extremely few unresolved cases in europe where there is a larger economy and population? he is making the claim that there are fewer unresolved cases in europe compared to the u.s.? >> they have to define unresolved cases. europe, if you look at those vehicles, there are a lot more vehicles with break overrides. that would explain fewer sudden acceleration cases in europe. second, european drivers are more adapted shifting into neutral and using breaks to bring a car under control. >> back to this country, how many complaints does nhtsa get? >> they only get about 20,000 to 40,000 complaints per year. they used to get 100,000 or 200,000 per year. >> how are they handled? >> not very w

now he's running gm.umbers for general motors, the company officially paying off all its obligations coming out of bankruptcy to both the united states and canadian governments. guys, back to you. >> thank you, phil lebeau. >>> and apple is a big winner today, not just gm. several upgrades. i think 13 is what we said? at least 13 upgrades. lucky 13? after last night's blockbuster earnings report, thanks to the iphone. more on the stock that is a little bit more like a cult religion, up next. >>> plus, do unemployment benefits make jobseekers lazy? we started that debate yesterday. we will continue it today. >> and that's the focus of our street poll. squawkonthestreet.cnbc.com is where you can cast your vote. are jobless benefits too generous right now? first, another check on oil following the inventory report. we had a build of 1.9 million barrels, though a decline had been anticipated. crude was up. it's now down nearly 60 cents at $83.26 a barrel. >>> all right, today on "the close bell," sir richard

they almost outsold gm last month despite all of the bad publicity. so americans are very price savvy. they'll cross the street to save 10 cents on a hamburger. if the car's cheap enough, they'll buy anything. >> that whole bailout wasn't too popular on the hill among republicans. so what kind of congressional reactions have been to that news? are people saying, hallelujah? >> well, clearly this deal, as you remember in 2008, the republicans blocked the bailout from happening to save gm and chrysler. president bush stepped in and did it on his own using tarp. and i think there's a little bit of a wait a minute, yes, it's great news they're paying it back but they're using unused bailout funds to repay the taxpayers. this isn't money they earned by selling cars. >> is there any larger lesson we can take from the fact that they were able to repay this money about the health of the broader economy in the midwestern united states? >> yeah, i think it certainly shows people are buying cars again. the sales rate is up more than 2 million vehicles a year ver

we invite you to take a look at the new gm. >>> today some news for the troops. this is for staff sergeant david bryant. his wife sent in via webcam. family and service are two important things to him but he's an avid red sox and patriot fan. >> good morning, robin. i'd like do a salute to my husband staff sergeant david mark bryant who's stationed in kuwait. he should be home within the next couple of weeks but we sure have missed him for the last year. he's a wonderful father and a fabulous, fabulous husband. we miss you, david, and we can't wait to have you home. i love you. >> laura, we love it when you do the salute via a webcam. very nice, job. if you have somebody in the service go to our website. >>> a small town girl had big time dreams to make it as a big time dancer but the last time anybody saw her was in december 20 2008. she was leaving a new york nightclub with a convicted sex offender and now authorities say laura's remains have been found in pennsylvania. correspondent richard lui has the details. such a famili

it will not be too long before the stock treasury is holding in gm can be sold, helping to reimbursethe american people for their investment. in addition, chrysler financial has already fully repaid with interest the loans it received to support our financing. where closing the books on the temporary program that helped part suppliers weather the storm. finally, we are bringing to an end many of the emergency programs designed to stabilize the financial sector and restart lending so folks could finance cars and trucks as well as homes and small businesses. on friday, the treasury department informed congress that this financial rescue which was absolutely necessary to prevent an even worse economic disaster, will end up costing taxpayers a fraction of what was originally feared. this is a direct result of careful management of the investments made by the american people so that we could recoup as many tax dollars as possible and as quickly as possible. these steps, as well as others we have taken, have meant that millions of people are working today who might otherwise have lost thei

gm clearing the debt five years ahead of ever. cash flow is better than expected because of the sale of new cars. they have plans to pump $250 million into auto plants in kansas city, kansas, and detroit. >> this investment represents a further commitment to gm's future, to communities that support us like here, and to the united states, canada, and ontario governments that stepped up last year. >> reporter: gm still has 43 billion of taxpayer money which is a 61% stake in the company. the payoff is coming from those funds, while others view the early check writing as a sign of strength. the early loan payment could help sales and move gm closer to becoming a publicly traded company again. that will allow the treasury to get back the rest of the taxpayer money. . >>> united and continental airlines are deeper into talks to create the world's largest airline. they are in the early stages ever exchanging financial information. they're discussing how to value the companies if they wanted to do a stock swap, stock swap change there. p

, one of gm's big three brothers is raking it in.urn from this time last year for ford. joining us from company head ours if in dear born, michigan, ford's president and ceo allan mullally. good to see you again. thanks for being with us. >> you're welcome. >> you and i have talked about this over the last few years. when it looked grim, when it looked endless, when the future of the auto industry looked very, very uncertain. are we at a point where when we're looking at your results, we're looking at gm's announcements, we're looking at chrysler, are we thinking that maybe we've got an industry that possibly is growing again in america? >> well, clearly, ali, in ford's case, this is a result of all the actions that we put in place three years ago to create an exciting viable profit, growing ford by focusing on a complete family of vehicles from ford and every one will be investment class. see the way the consumers have responded to this new ford lineup and the quality is just fantast fantastic. those are the results we're seeing tod

a lot of americans didn't agree with giving gm a second chance. i can understand that. we want to make this a country you are proud to be again. that's why i'm here to announce we have paid our loan in full with interest five years ahead of schedule. but there's still more to do. our goal is to exceed every expectation you have set for it. we're putting people back to work, designing, building and selling the best cars and trucks in the world. with our 100,000 mile, five-year power train warranty to gain the quality and onstar to help keep you safe. from new energy solutions to the designs of tomorrow, we invite you to take a look at the new gm. >>> whether he it comes to the battered housing sector today, trading up and flipping are out. as a response to a soft market and a desire to increase efficiency, america's architects report that remodeling is on the rise. many homeowners are choosing to reinvest at home. >> the uncertainty of the economy was one of -- also one of the factors that kept us here. we were worried buying new where the market was going to go. so we r

why are we bailing out gm? gm might have employed several hundred thousand, but when you look at all of the suppliers involved, and the economy, you could have seen in other couple million jobs lost that would have huge implications for the economy. now, gm is actually making a profit, there started to hire people back. one thing we need to do is make sure they are made in the united states. the second thing we need to do is to create the electricity grid, what we are calling the "smart grid." part of the reason we can drive our cars is because there is a gas station every so often. there are roads. there are gas stations. we know how to fuel up our automobiles. if we want to have everybody getting maximum use of a hybrid car or an electric car, part of what we need to do is create a similar distribution mechanism for electricity. one of the exciting things about these hybrids is we want to get to the point where we have a plug-in hybrid, where you have a gas station at your house called an electric socket. you

a lot of americans didn't agree with giving gm a second chance. quite frankly, i can respect that.e want to make this a company all americans can be proud of again. that's why i'm here to announce we have repaid our government loan, in full, with interest, five years ahead of the original schedule. but there's still more to do. our goal is to exceed every expectation you've set for us. we're putting people back to work, designing, building, and selling the best cars and trucks in the world. with our 100,000-mile, 5-year powertrain warranty to guarantee the quality. and the unmatched life-saving technology of onstar to help keep you safe. from new energy solutions. to the designs of tomorrow. we invite you to take a look at the new gm. ♪ (announcer) right now, all over the country, discover card customers are getting five percent cashback bonus at home improvement stores. it pays to get more, it pays to discover. >>> now, a look ahead to the stories we'll be watching on this monday. residents of tallulah, mississippi, are picking through what's left of their lives. >>> a democrat bi

if gm is doing good, ford is doing great.hink ford is still long. 50% mover to the upside. >> brenda: pat, you like it or not. they're doing well and 50% might be a stretch, but more car sales, good work. >> brenda: eric top man. >> brenda you heard about bad blanking-- this is a great deal with joe biden. selling for $25 t-shirts and hanes brand and here on the other side of the story, bad bleeping dealment and 30% in a year. nice shirt, bowling. >> put it tie on next time.

once they go public, then you see the federal government getting the opportunity to sell shares of gm over time and make back more of the $50 billion that was funded to this company as part of its bankruptcy plan. so, a huge day for general motors, and that's what ed whitacre is talking about right now. guys? >> and i know, phil, that he may

. >> truck leasing and american business, he was supposed to save gm's struggling saturn brand.e was going to buy out the brand and its 350 dealerships from gm, but, apparently, it has all fallen through. >> never once have i thought, let's close the doors, we're done. no, no, i don't give up that easy. >> reporter: that optimism in the face of overwhelming odds has served her well in organizing an incredible turn around for her business. it's a reminder that cheryl is not your typical dealership owner. >> even to this day women aren't that well known to be the car dealer. they'll say, you're the dealer? yeah, i'm the dealer. >> reporter: she didn't become the owner overnight. she spent 20 years working her way up from the sales floor to management and rather unexpected to owner when the dealerships came up for sale in 2002. >> my husband is very frugal and he had money in the bank that we were going to do things with. we were going to finish the basement. >> reporter: instead of redoing the basement she became a dealership owner with a different kind of car company. after all,

we have a controlling interest in gm. gm, the new c.e.o. has announced the intention of having an i.p.o. seems to be an intention that will occur this year and return profitability for gm. at that point, i think the initial public offering won't be 100% private interest in gm but will startg a public company and we will be able to quantify what the government's interest in gm is worth. if the shares of stock increase, there will be a continued demand in the marketplace for more shares of general motors that will give the treasury have subsequent offerings and sell off its interests in the market i hope what will be ever increasing value in their interests. >> we don't have a lot of people here, mr. chairman. but this is interesting testimony. i think it is encouraging testimony. >> it raises the question, what degree should the tax be. we don't yet know and reasonable period of time will be paid back, which i think is a legitimate question to ask. but you're right. let me ask one more question if i might. what's the status of the corporate

some of you might have said, why are we helping out gm? well, let me tell you, gm might have employed -- along with its dealers and everybody -- a hundred thousand, several hundred thousand. but when you looked at all the suppliers involved and the economies, you could have seen another couple million jobs lost. that would have had huge implications for the economy. now, gm is actually making a profit and starting to buy -- or starting to hire people back. but one thing we need to do is make sure that those cars are made here in the united states. the second thing we need to do is to create the electricity grid, what we're calling the smart grid, which is -- think about it, part of the reason that we can drive our cars is because there's a gas station every so often. there are roads. there are gas stations. we know how to fuel up our automobiles. now, if we want to have everybody getting maximum use out of an electric car or a hybrid car, part of what we have to do is to create a similar distribution mechanism for electricity. and one of t

last month, gm's average incentive per car or $3500. a year ago, nearly $5,000. >> it's a bad merry go round to get on. if you offer the incentives, people start to expect them. >> reporter: but the strong march sales, the best since cash for clunkers, reinforce a growing confidence among consumers. one more sign the economy is on the mend. chris bury, abc news, chicago. >>> and also on the car front, cutting emissions and boosting fuel efficiency in the future. cars and light trucks will have to average 35.5 miles per gallon by 2016. about 40% better than today. but the changes could add about $1,000 to the cost of a car in six years. >>> and now, the census, in this multiracial world. president obama made an unscheduled stop outside boston to get a briefing on blood recovery efforts in new england. in dozens of communities, residents are coping with widespread flooding, which has destroyed homes and forced businesses to close, perhaps permanent l permanently. it's the smallest state dealing with the biggest problems. ron claiborne in

they call this a sign that gm is recovering. the u.s. government now owns 61% of gm. >>> dangerous storms in california on tuesday. the work jackknifed semi trucks all across the state. trees and power poles were knocked over. the rain is expected to continue through thursday. >>> time for a look at our weather right now. >> showers pretty regular today. just a straight chance tomorrow. the weekend will be a washout. we do need the rain. it will help the trees and washed away the pollen. watched the plane come in pre you can see -- you cannot say. it is pretty gray out there. i want to show you some rain totals since the rain began this morning. over half an inch of rain has fallen in fredericksburg. 1/3 of an inch of rain at the banner school in frederick. quarter of an inch of rain in dale city. temperatures will not move too much. we will have clouds and drizzle conditions. we do have some heavier bands of showers up near frederick. another pocket over parts of the northern neck. we do have a smattering of showers. much ross, heading

we invite you to take a look at the new gm. this is data. data generated by people moving through a city. people in cars, on trains, on buses. when you can see data as it happens, it can help cut commute times by 50%, reduce carbon emmissions by 14%. on a smarter planet, we can capture, analyze, and use data in new ways to do what they're doing in places like singapore and stockholm and build a smarter transportation system. let's build a smarter planet. announcer: whether it's earning a promotion... they're the culmination of lots of hard work. the graduate school has more ways to get you the knowledge you need to reach your next goal, your next great moment, with continuing education programs to fit your schedule and lifestyle. learn more. visit... r help. >>> we turn now to mother nature on this 40th anniversary of et day. the president called on congress today to pass a climate and energy bill to, as he put it, safeguard our planet from global warming and climate change. not everyone is a believer. one group of skeptics may come as a sur

we invite you to take a look at the new gm. this is data. data generated by people moving through a city. people in cars, on trains, on buses. when you can see data as it happens, it can help cut commute times by 50%, reduce carbon emmissions by 14%. on a smarter planet, we can capture, analyze, and use data in new ways to do what they're doing in places like singapore and stockholm and build a smarter transportation system. let's build a smarter planet. >>> we turn now to mother nature on this 40th anniversary of et day. the president called on congress today to pass a climate and energy bill to, as he put it, safeguard our planet from global warming and climate change. not everyone is a believer. one group of skeptics may come as a surprise. >>>. >> reporter: when it comes to throwing cold water on the biggest forecast of all. it isn't just the usual suspects. >> it's just another nail in the coffin of the whole global warming thing. >> reporter: row might be surprised. >> the original weatherman on "good morning america." >> reporter: som

we invite you to take a look at the new gm. >>> saving lindsay lohan. what needs to be done? disturbing new reports about her behavior and her mother coming to her defense in a brand new interview today. welcome back to "showbiz tonight." i'm brooke anderson in hollywood with a.j. hammer in new york. >> talk about a tale of two parents. to hear her mother speaking today, you would think all is just fine in her world. talk to her estranged dad and you would think she is one step away from total self-destruction. so, does lindsay need to be saved? back with us from philadelphia, danny bonaduci in new york jane velez-mitchell. danny, just like lindsay, you've been through the revolving rehab door, you've been there and done that. every day, we're hearing new reports lindsay is out every night at a club. what do you think? is her father dead on, does she need serious help? >> i believe that's two separate questions. i don't trust a word that comes out of that man's mouth. on the other hand, i believe lindsay is in desperate need of help. >> fair enough. i want your take on that,

we invite you to take a look at the new gm. nature knows just how much water vegetables need. so, to turn hose vegetables into campbell's condnsed soup,, our chefs just add less wate from the start.,/ ♪ so many, many reasons ♪ it's so m'm! m'm!good! ♪/. . >>> next, a tragic murder case that's attracted international attention. it sounds like a made for tv movie, a hollywood executive and his family vacationing in mexico when the mother goes missing and is then found strangled to death. authorities believe the marriage had gone sour and there are reports of screams coming from the couple's room. is he the killer? nearly a month after the crime, still no arrest. what, we wondered, had happened in paradise. it was to have been a family holiday on the beach in cancun. a mexican vacation for hollywood producer bruce beresford-redman, his wife monica and their two little kids but it turned into a nightmare. on april 8th, monica's 42nd birthday, her body was found in a sewer at the resort they were staying. today, her family had the painful task of claiming her body. they will be fly

we invite you to take a look at the new gm. >>> wish we could have done better in hindsight. at the times we made the decisions, i didn't think we did anything wrong. >> larry: we're back with michael moore. congresswoman marcy capture of ohio and a number of other democrats are calling for a criminal investigation of goldman sachs. would you go that far? >> absolutely. all right. i think -- i think -- i'm happy the obama administration brought these civil charges against them. but i think there should be a criminal investigation. a lot of people's money vaporized. and i think when you -- when that happens, i'll tell you. we spend a lot of money on our criminal justice system going after people that stick you up for $100. i think the american people got stuck up for a hell of a lot more than that. >> larry: goldman sachs pac people were big contributor to obama, weren't they? >> they were his number one private contributor, almost a million dollars. >> larry: so did this take some chutzpah on his part? >> i think so. >> larry: he had to sign off, i assume? >> of course. but i

we invite you to take a look at the new gm.elcome to progressive. nice calculator. i'm just trying to save money on my car insurance. you know, with progressive, you get the option to name your price. is that even possible? uh, absolutely. trade? and i still get great service? more like super great. oh, you have a message. "hello." calculator humor. i'll be here all week. i will -- that was my schedule. the freedom to name your price. now, that's progressive. call or click today. >> announcer: summers are great, but kids can lose 2-1/2 months' worth of what they learned in school. don't let them fall behind. call sylvan at 1-800-educate. sylvan builds lasting skills, habits and attitudes for lifelong success. >> in just three hours a week over 12 weeks, you will see results in your child's reading or math performance, improving one grade level, guaranteed. >> announcer: to learn how sylvan helps your child succeed in school and in life, call now for this free informational dvd. call sylvan at 1-800-educate. [ female announcer ]

a >>> gm back in the driver's seat according to the ceo. speaking from a plant in kansas the chief said they will pay back billions borrow from the government. >> we are able to repay the taxpayers ahead of schedule because we are designing, building and selling the best cars and trucks gm has produced ever. >> less than two years ago the company seems to be on life support in the form ever billions taxpayers. >> update on a show we first brought you at five. verizon not available in baltimore. we are told the company understands the frustration of residents and will continue to support the city's structure. we are also told there is not yet a timetable but they will keep city residents updated. >>> i guess you could say it's the kitchen version of cash for clunkers. how does auto insurance stack up when compared to the rest of the country. >>> john has all of certificates so you don't waste your money. >> get ready for the cash for apply ants program that could mean up to $400 in your pocket. you don't want to wait. as we have been reporti

gm county police wouldn't say if detectives found anything of value inside betts' suv. they called the investigation their highest priority. >>> d.c. councilman is angry over the voting rights act. the newest version of the bill call for a repeel of d.c.'s ban on assault weapons. councilman tommy wells says all it takes to make his case is the case of the ten people shot on south chemical street last month. "after seeing the images of grieving parents and their children riddled with bullets from an ak48 i could never support a compromise for voting rights by making assault reps legal on our street. house majority leader of maryland said congress won't take up that bill anytime soon. >>> the white house is stepping up efforts to get financial regulatory reform legislation passed. the push on wall street is igniting another epic ballot on capitol hill. today the head of the white house economical council spent time meeting with republican lawmakers. democrats say it will eliminate loopholeses that led to risky wall street trading and funded bank bailouts but republicans s

we invite you to take a look at the new gm. in what? imported ice? yeah! i mean, people love imported water. so this is the next logical step. i think i'll stick with following my green line. oh, come on! hey, working with my guy at fidelity could have me retiring in a few years. and besides, couldn't people just freeze their imported water? don't be ridiculous. work with the company that's helping more people reach retirement than anyone else -- because when it comes to investing, you should never settle. fidelity investments. >> stahl: when it comes to terrorism and extremism, intelligence agencies in the u.s. and europe have been grappling with a bewildering phenomenon-- that a surprisingly large number of islamic radicals are relatively well-off and well-educated westerners. to look into this, we recently went to great britain, where there are more supporters of al qaeda than anywhere else in the west. in london, we met a british muslim named maajid nawaz, who told us that what is turning so many of his countrymen into radicals is something called "the

a lot of americans didn't agree with giving gm a second chance. quite frankly, i can respect that. we want to make this a company all americans can be proud of again. that's why i'm here to announce we have repaid our government loan, in full, with interest, five years ahead of the original schedule. but there's still more to do. our goal is to exceed every expectation you've set for us. we're putting people back to work, designing, building, and selling the best cars and trucks in the world. with our 100,000-mile, 5-year powertrain warranty to guarantee the quality. and the unmatched life-saving technology of onstar to help keep you safe. from new energy solutions. to the designs of tomorrow. we invite you to take a look at the new gm. ♪ (announcer) right now, all over the country, discover card customers are getting five percent cashback bonus at home improvement stores. it pays to get more, it pays to discover. ♪ when i hold you in my arms i can feel you breathe ♪ ♪ when i look into your eyes it moves me ♪ ♪ it takes me to a place that gives me hope ♪ >> larry: program note, mic

a lot of americans didn't agree with giving gm a second chance. quite frankly, i can respect that. we want to make this a company all americans can be proud of again. that's why i'm here to announce we have repaid our government loan, in full, with interest, five years ahead of the original schedule. but there's still more to do. our goal is to exceed every expectation you've set for us. we're putting people back to work, designing, building, and selling the best cars and trucks in the world. with our 100,000-mile, 5-year powertrain warranty to guarantee the quality. and the unmatched life-saving technology of onstar to help keep you safe. from new energy solutions. to the designs of tomorrow. we invite you to take a look at the new gm. [ female announcer ] kids who don't eat breakfast may not be getting the nutrition they need to keep their bodies strong. a nutritious start to the day is essential. that's why carnation instant breakfast essentials supplies the nutrients of a balanced breakfast. so kids get the protein and calcium they need to help build strong muscles and healthy

they just opened a preliminary investigation of 6 million gm vehicles for breaking issues. the other thing we have seen at least three times in the last month -- automakers have stopped selling vehicles were they did not have a fix, which was very rare before. >> transportation secretary ray lahood talked about the investigation going forward in february before a house committee. we will take a look at that. >> when i talked to mr. toyoda, i said three things. i said this is a very serious matter for your company in america. i want you to know the dot is taking it seriously. we are not going to sleep until every one of your cars is safe for americans to drive. i invited him to come to america. >> we never had a chance to talk, but you have been proactive in trying to get out in front of this. one of the concerns i have is that 70% of this sudden unintended acceleration we still do not have an answer for. in fact, according to all the documents from nhtsa and also from toyota only 16% of the sudden accelerations are really addressed with the format and the sticky accelerator

we invite you to take a look at the new gm.rry: we're back with tom sizemore and bob forest. tom co-starred in 1993's heart and souls with robert downey, jr. he's had his own well publicized drug troubles. >> have you come to an understanding behalf it's all about? >> there's certainly aspects of it that -- there's a reason it's listed in american medical book as a disease. there's a part of it that's largely a moral issue, but i think once you have an opportunity to get the help you need to get out of it, you just have to remember that sometimes that train doesn't come back around for seven years, you know. it's very specific how many chances you get. >> larry: is it a daily struggle? >> not right now, no. it's been a good long while, but it's like who figured out what makes the souffle not drop in the oven. once you figure it out, you don't throw away the recipe. >> larry: tom, do you ever figure it out? >> i don't think -- robert in that interview where he says it's not a struggle. he's had a good long. i've had a good long

it's already a bigger market for gm, but does that help gm employ any more workers in the u.s.? >> eventually the idea is that you're going to be able to export some over to china. not a huge amount. keep in mind, dennis, at the end of the day with a few exceptions, almost all automakers, the vehicles they sell in china are going to be built in china. you really want to build in the region where you sell. you could export some over to china, but the vast mu yor jorty that they're selling there will be built there. on the job's front, people would like to say, add more jobs here. that is dependent on sales in north america. >> will gm be able to make so many cars in china with much cheaper labor and health care costs that they can float it on a boat over to the u.s. and supply the u.s. market with cars that their employees make in china. >> it is possible, dennis. they already do that from their facilities in south korea. in china, keep in mind, they're having a tough time meeting demand in china and you add in the cost equation of building there and shipping here and it works wi

gm's ceo is expected to make the details public tomorrow, during a visit to a plant in kansas city. gm has already made two $1 billion payments and promised to have the entire government loan paid off before the end of june. >>> toyota is recalling its lexus gx 460 suv to fix those stability control problems. that is the model consumer reports warned consumers not to buy two weeks ago. their tests showed the suv skidded out of control during sharp turns. toyota is offering to update the stablts control software in the lexus and land cruiser model. >>> last year's cyber attack on google put the private information of millions at risk. intruders from china broke into systems giving access to multiple google services with just one logon. the passwords of gmail users were not involved. but still, the information may help hackers find other vulnerabilities at google. >> it sounds like google wasn't the only company hit. numerous others had the same problem. >>> coming up on this tuesday morning, an overnight earthquake area not used to shaking ground. >>> plus, we will visit the top of t

we invite you to take a look at the new gm.mpact fishing markets in japan, marine legislation in the u.s., and food consumption in italy? at t. rowe price, we understand the connections of a complex global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment objectives, risks, fees, expenses, and other information to read and consider carefully before investing. >>> in "crime & punishment" tonight, life, death, and indifference. all of it captured on videotape. it happened last sunday, april 18th. as you'll see, a hero is mortally wounded. but instead of helping him, people just walked on by. overlooking a sidewalk in queens, new york, a security camera records a woman walking along the street. police say she's about to be the victim of a violent mugging. the attacker, wearing dark pants and a green hat approaches her. he's armed with a knife. police say a man comes to her aid. she is hugo a

that's why gm is exempt from it? >> no, no, gm is included.sdiction over the five companies, gm and chrysler. gmac, chrysler financial and aig. bank of america and citigroup repaid their entire obligation. under the law, they are out from under my jurisdiction. >> can you have any moral suasion with them? >> i can try to convince them it's wise and sensible and on the merritts makes a lot of sense, but to get the real regulation you need on these banks and wall street, you need some of these other administration initiatives, regulatory reform, corporate governance reform. i have a very small jurisdiction. >> when we talk about regulatory reform and that is the next big thing to occur, in the final version of the job bill and what was passed the house, how would that restrict executive pay? >> i have enough trouble dealing with the banks and calculating pay -- >> from my understanding though, shareholders can have a say, but not man dating. >> that's right. >> to get shareholders involved in anything is a very big challenge. >> that's right. it

chairman baucus and i invited gm to testify before our committee at one of the later hearings, but gmrepresentatives said they did not want to testify. i think it is obvious that the gm silence is deafening. on another tarp-related matter, i want to thank you, mr. barofsky, for investigating the multi million dollar severance payments that treasury is allowing tarp recipients like aig to pay their departing executives. as you know, i have communicated on several occasions with treasury and the tarp special master for executive compensation about this troubling issue, and i have basically run into a stone wall. i am also pleased that you, mr. barofsky, are going to investigate the possible conflicts of interest on the part of key people at treasury who worked on the tarp executive compensation regulations. since those regulations helped executives walk away with huge severance payments, we need to find out if they were drafted by people who used to represent the very executives affected by the regulation. that all the proper recusals were made, but it has provided none of the documenta

we invite you to take a look at the new gm. >>> finally tonight, the journey home.oy from iraq has returned to baghdad. and his life has been entirely changed all because of a chance encounter and the kindness of one american soldier. and his american heart. mohammed's journey began 18 months ago. he was a badly scarred boy on the street in iraq. he saw major david howell on patrol. mohammed had been burned in a house fire when he was a small boy but could never afford surgery. his father, by the way, had been an interpreter for the u.s. marines and because of that was assassinated by insurgents. >> i really felt as an american soldier that i had an obligation to try to do something to help his family that was suffering because they had sacrificed so much for us. >> major howell worked for months to get mohammed to america. raising $75,000, finding an iraqi host family -- the family even spoke mohammed's dialect. >> i thank him so much for helping me. >> five surgeries, one year later, major howell escorted mohammed back to iraqi. at the baghdad airport the boy fell

we invite you to take a look at the new gm.fl will kickoff the 2010 draft tomorrow night here in new york city. one of the top prospects is turning someç heads with comments that he made about how his race might impact when he is drafted. stanford running back toby gerhardt told sports reporter that he believes his race has played a part in some of the nfl organizations that he has met with ahead of the draft. gerhardt says, "one team i interviewed with, asked me about being a white running back. they asked if it made me feel entitled or like i felt like i was a poster child for white running backs. i said no in%ru]áu playing ball, i don't think about that" more startling comments from a long time nfl scout who said, "he will be a great second round pick up for somebody but i guarantee you if he was the exact same guy but was black, he would go in the first round for sure." here was reaction to the developing story from the philly enquirer, stephen a smith and sports college football analyst spencer tillman good to see you.ç

a lot of americans didn't agree with giving gm a second chance. quite frankly, i can respect that.this a company all americans can be proud of again. that's why i'm here to announce we have repaid our government loan, in full, with interest, five years ahead of the original schedule. but there's still more to do. our goal is to exceed every expectation you've set for us. we're putting people back to work, designing, building, and selling the best cars and trucks in the world. with our 100,000-mile, 5-year powertrain warranty to guarantee the quality. and the unmatched life-saving technology of onstar to help keep you safe. from new energy solutions. to the designs of tomorrow. we invite you to take a look at the new gm. >>> in the wake of the financial crisis, ali, is this lingering question -- did americans capitalism fail? >> a free market was never meant to be a free license to take whatever you can get, however you can get it. that's what happened too often in the years leading up to this crisis. >> having a discussion on facebook with somebody who says i'm imimplying the free

with giving gm a second chance. lot of americans didn't e quite frankly, i can respect that.all americans can be proud of again. that's why i'm here to announce we have repaid our government loan, in full, with interest, five years ahead of the original schedule. but there's still more to do. our goal is to exceed every expectation you've set for us. we're putting people back to work, designing, building, and selling the best cars and trucks in the world. with our 100,000-mile, 5-year powertrain warranty to guarantee the quality. and the unmatched life-saving technology of onstar to help keep you safe. from new energy solutions. to the designs of tomorrow. we invite you to take a look at the new gm. some people will stick with their old way of getting vitamins and minerals. others will try incredible total raisin bran. with 100% of the daily value of 11 essential vitamins and minerals, juicy raisins and crunchy whole grain flakes. guess it's all about what kind of crunch you like. how are you getting 100%? ♪ [ male announcer ] what are you gonna miss when you have an allergy

we invite you to take a look at the new gm. in the basement gathering dust while i, sneezing, itching eyes kept you from our favorite stream. the one that runs through a field where pollen floats through the air. but now, with the strength of 24-hour zyrtec® to relieve my worst allergy symptoms, indoors and outdoors... let's go before the fish stop biting. they won't wait for us. but that's okay. zyrtec® is the fastest 24-hour allergy medicine. today, we battle wits with the trout. with zyrtec® i can love the air®. ♪ >> couric: finally tonight, happy birthday youtube. hard to believe it's only five. it's already an institution. everyday youtube gets over a billion views and added all together as 1,700 years worth of video. as ben tracy reports, it all started at the zoo. >> reporter: in retrospect, that first video was pretty lame. >> that's pretty much all there is to say. >> reporter: but at 8:27, p.m., on april 23, 2005, youtube's co-founder took just 19 seconds to start a worldwide sensation. what do you think of most of th

in end gm and chrysler were still forced into bankruptcy.d has been meanwhile taking share left in right in 2009 under alan's leadership. he didn't take a dime from the federal government. and instead restructured ford while managing the unions. he took a laggard, turned it into an industry leader, all while the american industry -- auto industry crumble around him. see, i think that's got to be included. that has to be a factor in the worth of a ceo, even as it's not one you can slap a number on or make an easy comparison versus 499 other ceos. look, let's just forgeted ford's 337% gain last year. what do you pay mulally for the fact ford was the only one the of the big three that didn't go under? avoiding bankruptcy in an apocalyptic environment? that's priceless. then howard schultz of starbucks. he made 15 million last year. the guy, worth every penny. the stock was up 144% from $9.46 to $23.06 in 2009. dramatically outperformed the s&p 500. but again, tip of the iceberg, my friends. the return of howard schultz as ceo in january of 2008

can we turn to gm, if you do not mind. explain the situation if we have an equity situation that we need an ipo to be able to recover to earn profits on. >> it is essentially the same. with the retirement of this debt, there is a preferred interest but the interest is overwhelmingly in the equity interest in gm. we have a controlling equity interest in gm. gm, the new ceo has announced the intention of having an ipo. it seems to be an intention that it will occur hopefully this year, that they will return to probability to gm. at that time, i think the offering will not be for 100% of the private interest in gm. it will start returning to becoming a public company. we will be able to better quantify what the government ownership interest is worth. then we will see. the shares increase. there will be demand in the marketplace. it will give treasury an opportunity to have subsequent public offerings and to put interest into the market. hopefully, it'll be an ever- increasing value into the equity interest. >> thank you. we d

general motor's ceo ed whitacre announcing gm has paid back early more than $8 billion in government loans to the u.s. and canada. gm also announced plans to invest money for plants in kansas and michigan. >>> chrysler announces it lost nearly $200 million in the first quarter. the big number, chrysler says it has lost nearly $4 billion since exiting bankruptcy last year. >>> there's a much brighter picture at apple. quarterly profit there surged 90% thanks to the strong sales of iphones and i pods. 3 1/2 hours in the trading day. let's take a look at things. not good right now. not too, too bad on terms of the down numbers. down 1.75 on the dow. down a little more than 1.5 on the s&p and down about 2.34 on the nasdaq. >>> stories far and wide today. there was a heartbreaking doorstep delivery last night at st. patrick's cathedral in new york. a crying toddler from florida abandoned by a man and woman at the main entrance. police believe the 3-year-old nathaniel fons was dropped off by two of his mother's associates. his mother was busted this week in florida on charges of counterfei

once we knew who would own to company, it was cynical and outrageous to know that gm's old stock was still out there trading millions and millions of shares and hurting ignorant investors who thought they had a play on the turnaround. it was the height of irresponsibility to not cancel that common stock when it looked like gm's bondholders would get nothing. and remember in bankruptcy, the bond boys get paid ahead of the shareholders. they are ahead of you in line, and they are usually the ones who get the loot from the company and turn out to be ahead of the game. fannie and freddie were allowed the keep trading despite the fact that buying either of them was more like investing in the fha or the federal home bank board and more mistrust than companies that should have stocks. the regulators have proven they don't care if you get taken advantage of in a case like this. so in the future don't be a dupe to buy these cynical securities and nothing like betting on the loser in a fixed horse race. sadly, wall street is far more lightly regulated than any type of gambling. the nevada gami