ipo.vember, there was thean gm -- the government still holds the shares of gm. the price of gm stock needs to be about $53 for the selling of the shares. as of this morning, it is $30. it has been in that neighborhood for the past several months. the reason it is not going to appreciate any time soon is because the market knows that the largest shareholder of gm's stocks wants to dump about 500 million. that is keeping a downward pressure on the value. it is a safe bet that taxpayers will be stiff about $20 billion on that. those are just the financial costs. the other costs are rule of law, d nine the spoils of competition to companies like ford and honda, those are other costs. there are plenty of other costs which are unseen. >> the total figure that you have come up with. >> right now, i assume there will be a sale of gm. the average price will be around 30's. taxpayers are out $12 billion there. then there are tax exemptions. $14 billion. some of that is then there's the $17 billion that to my knowledge has not been paid back. >> i do have a -- >> these num

gm cars. my understanding is there a tax credit to purchasers of the chevy volt. the numbers that the public has grabbed ahead is $50 billion. but i think it's more than that. in november, there was an ipo, and 23 -- i think $23 billion was raised. leaving taxpayers on the hook for about $27 billion. and the government -- the gm still -- the government holds about 500 million shares of gm. in order to be made hole financially for the first $50 billion, the price of gm's stock needs to be $53 or the average price for selling 500 million. this morning it's $30. it's been hovering, the reason it's not going to appreciate substantially any time soon is because the market knows the largest shareholders wants to dump about 500 million. that's keeping downward pressure on the value. so i think it's a safe bet that taxpayers will be stiffed about 10 to $20 billion on that. those are just the financial cost. the other cost in which shikha described, in terms of ruling the law, spoiling the competition

community that's home to a gm plant or a gm part supplier or a gm dealer. faced with this crisis, the bush administration extended $4 billion to gm in december 2008 and an additional $5.4 billion in 2009. when the obama administration took over, they required that gm and chrysler implement viable demands and compete in the changed auto industry. after the restructuring, the new gm quickly exited bankruptcy in july 2009. the results of our nation's investments are now becoming clear, the first quarter of 2011 was gm's 5th consecutive profitable quarter. according to the economist with the economic policy institute, and i quote, federal, state, and local government save between $10 and $78 for every dollar invested in the auto industry restructuring plan, end of quote. the value of our investment in the auto industry becomes even clearer when we consider the cost, according to the center for automated research, even a 50% reduction in the operations could have reduced personal income by more than $275 billion over three years, resulting in a loss of more than

gm is adding a third shift at its hamtramck plant for the first time ever and gm plans to hire back all of the workers they had to lay off during the recession. that's remarkable when you think about where we were just a couple of years ago. when i took office, we were facing the worst recession since the great depression -- a recession that hit our auto industry particularly hard. in the year before i was president, this industry lost more than 400,000 jobs, and two great american companies, chrysler and gm, stood on the brink of collapse. now, we had a few options. we could have done what a lot of folks in washington thought we should do -- nothing. but that would have made a bad recession worse and put a million people out of work. i refused to let that happen. so, i said, if gm and chrysler were willing to take the difficult steps of restructuring and making themselves more competitive, the american people would stand by them -- and we did. but we decided to do more than rescue this industry from a crisis. we decided to help it retool for a new age, and that's what we're doing all a

gm more than $10 billion is owed to taxpayers.reasury pretty soon is expected to sell its shares in general motors. it doesn't want to be part of a private company and we could likely lose billions to general motors. so was it the ideal scenario? no. at the same time you look at the american jobs and you look at a city like detroit, john, they still have what secretary geithner called unaccept bli high unemployment in detroit but unemployment in detroit is down one-third from where it was two years ago and i can tell you, spending a lot of time there, there is no way that would have happened without a bail out of the auto industry. it is going to be very interesting as president obama touts this accomplishment as he calls it for his team heading into obviously the election cycle. it's going to be interesting to hear republicans say, look. ford didn't take a bailout and look how well they're doing now. john? >> one of the debating points on the economy sure to carry over through the presidential campaign. poppy harlow, thanks so mu

i give gm credit, nissan credit, ford. i give all of these companies credit for trying to build automobiles that helps people with high gasoline prices and gives people an alternative. if you do not want to drive a battery-powered car, so be it. my hybrid is a great vehicle. we like it very much. i encourage people to take a look at them. if you do not like it, by something else. certainly, people are going to buy these vehicles because they are tired of high gasoline prices. host: scott, in birmingham, alabama. caller: the reason i was for helping chrysler and gm -- and correct me if i am wrong. correct me if i am wrong. during world war ii, they came and helped us build stop on credit. is that not right? guest: these car current -- companies have been the backbone of our country for many years. we have a long, rich history of building cars in america that have provided good paying jobs to americans. these are american made vehicle and the spin-off of the jobs created by this is enormous. it has been a boon to us to have

now the good news, the average gm guy has 20 points -- i mean, gm has some of the absolute from a standpoint of iq and analytical capability smartest people i've ever come across. and they can't make decisions and many of them have no common sense. >> because they're too bound by numbers. >> total left brainers. no imagination, no ability to see the whole picture. >> and you say the focus was no longer on customers. and what was going to make the customer happy and loyal and dedicated to a brand. >> it was cars instead of being seen as a holistic object that would trigger lust or desire to buy were broken down into a series, infinite series, of submetrics like percentage of parts reused from the prior model and all kinds of dimensions, numbers of cup holders and so forth. and all of these subobjectives were pursued and somehow at the end of the day, if you did all that, you assumed you would have a great car. not! >> and the person who stands in opposition to all of this, the sort of epitome of what an executive should be, is steve jobs. >> exactly. that's why i use him as a shining example

and to great american companies, chrysler and gm, stood on the brink of liquidation. now, we had a few options. we could have followed the status quo and kept the auto makers on life-support by just giving them tens of billions of dollars of taxpayers' money but never really dealing with the structural issues at these plants but that would have just kicked the problem down the road. or we could have done what a lot of folks in washington thought we should do, and that is nothing because just let a u.s. auto makers dillinger and uncontrolled free fall, and that would have triggered a cascade of damage all across the country. if we let chrysler and gm failed plants like this would shut down and dealers and suppliers across the country would have shriveled up, then ford and all other automakers could fail, too because they wouldn't have the suppliers the need. by the time the dominoes stop falling, more than a million jobs in countless communities and the industry that helps build america's middle class, for generations wouldn't have been around any more. so in the middl

>> i think because gm was such an amazing person if you met him you would never forget him. he was the electric. when he entered a room, you knew he was there. he was good-looking, a bright, well read, and very essentials. he enjoyed people. i have many stories that i could tell of people who are adults and say when i was a child my dad did some work and he played the pipe organ for me in the ballroom when he found out i liked music so generally related to the book has had a huge impact and it has had an impact on my family. starting by saying it should have been marketed as fiction and was not. and i actually had a conversation with the author before it was published by his comment was random house was trying to decide whether to market its as fiction and nonfiction. i do remember quite clearly he said they chose nonfiction because it would be easier to get on the best selling less and stay there and certainly it was on the list for a very long time. >>host: why do you consider it fictional? >> why do i? >> because there is so much fiction in their. people who read a book t

giants essentially apologized for inflammatory statements by their gm.xt [ banker ] mike and brenda found a house that they really wanted. it was in my sister's neighborhood. i told you it was perfect for you guys. literally across the street from her sister. [ banker ] but someone else bought it before they could get their offer together. we really missed a great opportunity -- dodged a bullet there. [ banker ] so we talked to them about the wells fargo priority buyer preapproval. it lets people know that you are a serious buyer because you've been credit-approved. we got everything in order so that we can move on the next place we found. which was clear on the other side of town. [ male announcer ] wells fargo. with you when you're ready to move. well mainly in traffic. i'm serious. we've been together, what, a super long time. true. and at first it was all business, you know, i'd take him here, i'd take him there. everywhere. and over the years, we've really bonded. sure. why else would you always buy me chevron with techron? 'cause we need gas. i thi

chrysler and gm were probably hurting the most. ford, obviously, as most people know, did not accept any money, but we are pleased with the progress the car industry is making. it is the backbone of our economy. certainly the backbone of the economy in many states now, including michigan and ohio and other states. i think people are grateful for the president for his leadership and really helping the american automobile manufacturers and the workers who work in those companies. it a coat is it ultimately a good deal for the text -- host: was it ultimately a good deal for the taxpayers? they will not get the $1.3 billion. guest: it certainly was. if you look at what the automobile industry has contributed, particularly gm, chrysler, and ford -- it is enormous. not just jobs in that industry but the spin-off jobs. it the -- the people who manufacture tires and accessories. to have any one of the companies to go under would have been a disaster for the american manufacturer. it was a good deal for the taxpayers because it helped in th

. >> a gm official says it's possible the auto maker could accomplish what the obama administration is asking and there has been a rally on wall street. >> good afternoon, green arrows after technology and banking stocks rallying. taking a look, the dow all higher, reassuring news on the web front. this u.s. senate and cia announced it's done with its wave of cyber tacks. the group has been on the campaign almost two months. >>> and gm weighing in on obama's new fuel economy requirements. according to the "wall street journal", says it will be tough but not necessarily unmanageable. and asked to analyze affects of the target. administration wants to boost fuel economy to this level by 2050, more than the current level and at the morning morning stock exchange, with the bloomberg after the bell report. >> bay area companies looking to fill 300 positions are looking for jobs there in sassoon city. this event is co-sponsored on abc 7 and the job journal tomorrow in sassoon city. we have details at abc 7 news.com. >> and what some people will do to save a little pocket change. >> people th

now a new player may rise above toyota and gm, german automaker volkswagen, the biggest player in china where car sales are off the charts. win china, win the world says e rebecca lindland. >> nobody should feel secure in the marketplace, because we are under a tremendous transition phase. >> reporter: toyota had no comment to cnn on the sales race. gm says it simply wants to build the best car while volkswagen looks forward to becoming the number one carmaker. regardless of what they say publicly, analysts believe they'll all be watching to see who can claim the winning spot at year's end. kyung lah, cnn, tokyo. i want to talk to you. you may have heard of poor leg circulation, which could be peripheral artery disease, or p.a.d. with p.a.d., if you have poor circulation in your legs, you may also have poor circulation in your heart or in your brain, your risk for heart attack or stroke is more than doubled with p.a.d. now, ask yourself: am i at risk? if you're not sure, call for this free information kit to learn more. [ female announcer ] call the toll free number on the screen now to

gm owned them for a round about 18 years. it was a rope around gm's neck for the whole of that time. they couldn't get rid of it fast enough when they sold it to speicher 18 months ago. >> i was reading on one of the websites that the staff informed there was no money for wages when they got an e-mail this morning from the management, not a great way to find out that your pay pack set not arriving. >> it isn't indeed. quite shocking andrew. it will be a story we'll be covering closely on cnn throughout the course of the day. in this edition of "world business today" and also on the next one in a few hours time. >>> thousands of journalists are comparing notes about the future of aviation at this week's paris air show. thursday is expected to be a $17 billion day for the european playmaker airbus with malaysia set to finalize an order for 200 a-320 neojets. you're looking at the engine that will power that particular aircraft at the moment. the largest ever single order for this type of jet, comes after air embasbus confirmed

now the president says cloudy skies ler, gm and ford are all turning a profit. >> we could have done what a lot of folks in washington thought we should do -- nothing. but that would have the rescission worse and put a lot of people out of work. i said if gm and chrysler were willing to take the difficult steps of restructuring and making themselves more competitive, the american people would stand by them. and we did. >> the president says chrysler has repaid every dime of the government rescue package, six years ahead of schedule. >>> homeowners at risk of foreclosure and their lenders, they're all coming face to face at an event in washington. both parties say they mean business. that's up next. >>> and the food pyramid has been replaced by lots of fruits and vegetables, and you do not need to break the bank to afford it. ♪ [ male announcer ] thanks to advanced natural gas turbine technology from ge, the power that will help make our nation more energy independent is right here in america. [ crickets chirping ] ♪ [ cheers and applause ] advanced gas turbine technology from ge. ♪ a

that the issues, the scope of the project for parking, it certainly is back up to what will be the new gm. and it is huge. it will be [unintelligible] the neighbors are not opposed to the project, we are opposed to the size of the project. please consider our point. we're not there yet. i also lived next door. -- >> i also live next door. i want to reiterate what my neighbors said. we are not opposed to the project, we are opposed to the concept. just how it will totally completely overshadow us. think you very much. -- thank you very much. >> i'm the last of the neighborhood association. our issue is really with scope. i have taken pictures, and it is pretty clear. it is the character of the neighborhood, and as you can see, you know, we have an interesting fabrics in the neighborhood. even if you are completely out of scale, into this neighborhood, this is the way that booker t. is able to communicate and live in neighborhoods as it currently stands, it will be a difficult proposition. you have had this shoved down our throats. thanks. >> i am a property manager. i came here to ask you

there's still a lot of money that hasn't been paid back over time by gm and chrysler, but it was still a big chunk of change. on the unemployment issue, the white house still believes that once gas prices go down, once the japan recovery efforts jump-start manufacturing acts from this country to help them rebuild and wants mhelp with th debt crisis, and that's dealt with, that should shake the atmosphere. >>> that all sounds easy. chuck, thanks. >>> now we turn overseas where the arab spring is quickly turning into arab summer and promises to be prolonged and lot and violent. there were disturbances in yemen today, getting closer to all-out war. richard is with us tonight. good evening. >> reporter: good evening, brian. major developments in yemen. anger and protests have been building in yemen for four months. today was the first attack to actually kill the president. smoke can be seen rising near the presidential palace after what the government is calling an assassination attempt. it happened around midday prayers when across town, thousands of yemenis were protesting against salah.

we have cut our stake in gm in half, and we have a small residual stake in chrysler. but we're pulling back from these companies. so i won't make any prediction about their ultimate fate. what i will say is we believe that as they stood today, making the kind of cars americans want to buy, making better cars, making more fuel-efficient cars, being able to be vigorous competitors in the marketplace, gaining market share, tells me that they have an opportunity to succeed. whether or not they succeed will be up to them. >> what money do we still -- the taxpayer still have invested in these companies and at what point will that be repaid, if ever? >> the total funds invested including the prior administration into the industry is roughly $80 billion. roughly $40 billion has been returned to date. the remaining money is accounted for by states in general motors. we sold about half of what we owned but we still own the other half. a small equity stake in chrysler, and a stake in an alley financial which is the old general motors acceptance corporation. how the stakes are re

i didn't really think i would have the ceo of gm on my side in this situation.nks there should be higher gas prices? >> it's clear he means in terms of higher standards. a lot of these automakers are doing whatever they can to find the new reality, or the new normal, for the kinds of cars they're making. are american consumers ready for that new normal? that's what i mean that you've got to start thinking that higher gas prices and roaring markets are going to be here to stay. even in your families, you have to make these kinds of choices because you don't want to spend $80 to fill up the van. >> people are saying, do you understand what i pay to fill up my tank and we've got way more unemployed people than we can handle in this country? it's tough to suggest an increase in gas prices might be helpful in the long term. do you think it could be? >> absolutely. and actually, as you say, ali, it's a great paradox, but higher gas prices, and i absolutely agree, a gas tax is the way to do it much more than fuel efficiency standard, because what it will do is create a

it's interesting to hear the head of gm whine and complain and say, i want a gas tax.earn how to compete, be innovative and compete with your foreign competitors with those fuel economy standards that should be even higher in the law of the land. americans, i know you're big, but we have to get rid of some of our comforts. >> ali, isn't the biggest profit center still the united states for all these different manufacturers? think of the biggest growth is in emerging markets. but the cash cow is still, for most of these companies is here. >> chrystia, what do you think? >> i agree with everything. i think that the mulally point about the growth being in the emerging markets is really significant. this is a wider shift. american business and ford is the perfect example. the ford motor company was built on the u.s. middle class and was built on the notion, henry ford doubled the wages in his factories because he wanted the workers to have the money to buy his products. >> they kept the middle class going and they sold their product to the middle class. >> and there's a re

that is an important issue because the gm is a physical part of the community center and this whole project is based on a private motive. the city had some planning, perhaps the community land trust to get some funding. perhaps the gymnasium could have been more primarily used for the use to attend booker t. washington rather than a private high school. that's another point of contention -- the school is going to have primary use of the gymnasium. that is something that should be considered. perhaps with the mayor's office of housing, they could provide more funds to get more housing for transitional use. [tone] supervisor mirkarimi: thank you. next speaker please. >> i'm here today on behalf of the john burton foundation for children without homes to express our support for the booker t. washington community service center project that has been spoken about today. the john burton foundation is dedicated to the alleviation of homelessness among children in california with a particular interest in youth who are part of the state child welfare system. we are particularly enthusiastic about th

ford sales were flat and gm fell.hrysler managed to rise 10% as supply shortages in japan weighed heavily on toyota and honda. japan's loss, however, was south korea's gain. sales for the hyundai kia group sailed 6%. they recalled prius hybrids for a steering nut that may come loose. google says it prevented hackers in china from breaking into hundreds of gmail accounts of u.s. officials, chinese activists and journalists. >>> finally, here is something to raise your glass to. last year for the first time ever, the united states consumed more wine as a country than france. cheers to that. >>> walking off after the replay. an oriole flashes the leather, and shaq won't be back. plus, it all comes down in the final seconds in the first game for lord stanley's cup. your early morning sports headlines are straight ahead. >>> in weather, the southern half of the country continues to bake in the june heat and more severe storms. your forecast is coming up. you're watching "early today." >>> good morning. if you're just wakin

that the issues, the scope of the project for parking, it certainly is back up to what will be the new gm. and it is huge. it will be [unintelligible] the neighbors are not opposed to the project, we are opposed to the size of the project. please consider our point. we're not there yet. i also lived next door. -- >> i also live next door. i want to reiterate what my neighbors said. we are not opposed to the project, we are opposed to the concept. just how it will totally completely overshadow us. think you very much. -- thank you very much. >> i'm the last of the neighborhood association. our issue is really with scope. i haveak

toyota's numbers would put it behind gm and possibly volkswagen in its year's global sales rankings. >>> a stake at new york's smith and molinski starts at about $37 but this year with warren buffett for charity goes for 2.63 million. >>> and finally, did bill gates just slip into an interview with england's daily mail by calling mark zuckerberg's girlfriend his fiancee? well, facebook is denying any zuckerberg engagement, calling gates' comment a misunderstanding. >>> but coming up, more on dallas taking down miami's millionaires. dirk and the mavericks bringing the nba crown back to the lone star state. your early morning sports headlines are straight ahead. >>> in weather we're starting off the work week just like last week. hot conditions in the south and storms in the north. >>> good morning, if you're just waking up, this is "early today." and in sports, as we reported earlier, the mavericks upset the miami heat in the nba finals, bringing dallas and dotcom billionaire owner mark cuban a long-awaited championship. once again here's nbc's mario solis with an early look at all yo

gm comments the bay area -- a place with natural beauty and a forward thinking spirit.een fueling economic growth here for over a century. today we're investing in innovations that will define our future. every day, we're working to help set opportunity in motion. from financing a solar project for the milpitas school district to funding the institute at golden gate. because when you're giving, lending, and investing in more communities across the country, more opportunities happen. >> coming up tonight at 11:00. neighbors in walnut creek want to bring back the cow and soon. why they believe the animal help prevent fires. >> why 30,000 people got booted from a dating web site. those stories and more coming up in 1 hour on 7 news at 11:00 over on channel 7. they couldn't make the grade. >> beautiful people.com? strangely none of us have been asked to join beautiful people.com. >> i went expect. >> shocking. i don't know. if what the standard are there. any way here we go. sports nighttory aft styabout a possible trade in the works but warriors say nothing imminent involv

just recently gm, chrysler and ford, all reported significant increases in sales. >>> actor james arness has died. he was a world war ii veteran and the older brother of the late actor peter graves. james arnecessary died of natural causes at 88 years old. >>> paying to park in downtown san jose could cost more starting next month. the city council will consider a plan to raise rates as much as 33% at the 5 public garages breathed by the city. the proposal calls for eliminating free parking on weekends and holidays. merchants say that will drive away customers who are starting to come down town to ntown to shop and dine. >>> good afternoon to you, a live look from bay point, high clouds overhead, temperatures cooler than yesterday but no sunshine today. mid and high level clouds across the region. they are not going away. we are just getting started. 59 degrees right now san francisco. 57 in oakland, 63 degrees san jose. low 60s concord, 63 in livermore, 59 degrees outside your door in redwood city. you been picking up moisture already over areas of boulder creek down into santa cruz. mo

putting a new look all around this franchise. 17 seasons he played in the nba did mark jackson, the gmphoto op, as well. we talked with jackson earlier tonight, and just talked a little bit about who he's about -- what he's about. >> you were a great player, third all-time in assists, do you think lacob looked at you and said damn, third all-time assists guy, i want to have him out for me, that your playing career got you over on this? >> i believe he looked at me and saw that everywhere i went that i was an leader, that was an extension of the coach on the floor. he looked across the table and saw himself. there are people that look at him and probably say you shouldn't be owner of the team, you have no business oning the team, why are you taking trades, why are you talking in the paper and he's looking at them like hey, i'm qualified. i put my time in and he looked at me and felt the same type of fight and struggle. >> do you think you can make the warriors a playoff team immediately? >> no, i don't think it. i know is. we will be a playoff basketball team and we're going to have a l

. >> if we let chrysler and gm fail, plants like this would shut down and dealers across the country would have shriveled up. then ford and other auto makers could have failed, too. by the time the dominant stopped falling, more than a million jobs would not have been around. >> a few months after washington rescued chrysler, fiat acquired a major stake in the company. following the deal, fiat will see its stake increase to 52%. chrysler is expecting profits of five and a million dollars this year. fiat is becoming a key global player in the industry, thanks in part to its majority stake in chrysler. instead of focusing on compact models, it will offer a broad range of vehicles. >>> he refused to enter a plea and he called the charges against him obnoxious. former bosnian serb general ratko mladic showed his defiance fraud in his first appearance before the u.n. war crimes tribunal at the hague. he said he is too ill to stand trial. he is charged with 11 counts of war crimes, including genocide. >> mladic arrived at the first hearing. after describing himself as seriously ill, he sai

. >> jon: listen, elway is now the gm that has to be good for you. >> yes, he is. >> jon: as a quarterbackagain some time. tim tebow through my eyes on the book shelves now. within that's our show, join us next week. here it is your moment of zen. >> this is the biggest thing. he admitted to taking sexual photos. i don't know about you but i can unequivocally say i have

. >> jon: listen, elway is now the gm that has to be good for you. >> yes, he is. >> jon: as a quarterbackee us again some time. tim tebow through my eyes on the book shelves now.

. >> jon: listen, elway is now the gm that has to be good for you. >> yes, he is. >> jon: as a quarterbackee us again some time. tim tebow through my eyes on tim tebow through my eyes on the book shelves now.comedian (y buddy! comedian: mike, a little constructive criticism for ya. there's one thing i don't like about your commercials. mj: this is gonna be good. comedian: everybody always showin' you their underwear. it's not realistic. comedian: now me, i just got these. comfort flex waistband. doesn't pinch, doesn't bind. nothin' man, i can get so low in these. look at this! look at this movement. comedian: i'm like a ballerina in these things. i could take you, i bet, in these. i bet i could take you! vo: the new comfort flex waistband. won't pinch, won't bind. new from hanes. what could possibly hold together all the natural energy found in peanuts? caramel works. payday. crunchy roasted peanuts and soft chewy caramel come together to give you sweet energy. payday. the sweet taste of energy.

. >> jon: listen, elway is now the gm that has to be good for you. >> yes, he is. >> jon: as a quarterbacknd see us again some time. tim tebow through my eyes on the book shelves now. uh, i'm in a timeout because apparently riding the dog like it's a small horse is frowned upon in this establishment! luckily though, ya know, i conceal this bad boy underneath my blanket just so i can get on e-trade. check my investment portfolio, research stocks... wait, why are you taking... oh, i see...solitary. just a man and his thoughts. and a smartphone... with an e-trade app. ♪ nobody knows... [ male announcer ] e-trade. investing unleashed. within that's our show, join us next week. here it is your moment of zen. >> this is the biggest thing. he admitted to taking sexual photos. i don't know about you but i can unequivocally say i have

gm to you. as i zoom in to the east bay you can see mostly clear conditions. we have a little bit of cloud cover hugging the coast. i think we're going to see a round of fog and a good marine push which means mostly cloudy start. high pressure is regaining control of our pattern so this short-lived cooling trend, enjoy it. we're back up in the 90s even mid 90s by the end of next week. 56 now in hayward, 50 in san mateo, taking a look at the fog. we have reduced visibility all across the board, so travel cautiously. we are expecting pretty significant fog to form around 6:00 a.m. as per usual. here's where we're headed later on. 79 in napa, 70 in oak lands, 77 in fremont and 79 in livermore. as we head throughout the weekend we'll cool off a little tomorrow. the full forecast coming up in moments. it's a getaway friday, mike, i was not alone on the road this is morning. >> and you wouldn't be alone if you went through livermore. i know that's not your route but we're looking at a slow drive right now. as folks come past north livermore, even slower than before.

. >>> the head of gm wants you to pay more for gas.tax hike to benefit his company, company. >>> and the new crackdown on toll cheats in the south bay. >>> and let's check the stock market numbers. it's early. everything is down a little. coming up we'll have an update from kcbs moneywatch reporter jason brooks. so stay with us. ,,,,,, i know you're worried about making your savings last and having enough income when you retire. that's why i'm here -- to help come up with a plan and get you on the right path. i have more than a thousand fidelity experts working with me so that i can work one-on-one with you. it's your green line. but i'll be there every step of the way. call or come in and talk with us today. >>> low clouds and fog clearing out this afternoon. temperatures will warm up. warmest temperatures in quite some time. outside we have temperatures running in the 50s and the clouds all the way to the interior valleys this morning. that will break up. this afternoon, sunshine and nearly 80 degrees in the warmest parts of the bay

warrior's gm dismissed those rumors today. >> i'm pretty sure that monte ellis will be here and it'sust one of those things that seems like people take a story and it takes on the life of their own and it goes crazy and that's what this is all about. >> it looks like he was in severe pain. >> albert pujols will be out four to six weeks with a fractured left forearm. injured in that collision at first base. the marlins hired jack mckean to be their interim manager today. he is 80 years old. the second oldest manager ever. dennis rafael nadal kicks off wimbledon. nadal is the defending champion. tina turner hosting a golf tournament. he raised over a million dollars for charity during that time. according to one tomorrower teammate, it's in progress. >> he doesn't have a game. >> compared to jerry's game. >> jerry is pretty good. jerry's team won, 17 under par. >> wow. how did you do? >> we're out of time. a place with natural beauty and a forward thinking spirit. at bank of america, we've been fueling economic growth here for over a century. today we're investing in innovations that w

i give gm credit, nissan credit, ford. i give all of these companies credit for trying to build automobiles that helps people with high gasoline prices and gives people an alternative. if you do not want to drive a battery-powered car, so be it. my hybrid is a great vehicle. we like it very much. i encourage people to take a look at them. if you do not like it, by something else. certainly, people are going to buy these vehicles because they are tired of high gasoline prices. host: scott, in birmingham, alabama. caller: the reason i was for helping chrysler and gm -- and correct me if i am wrong. correct me if i am wrong. during world war ii, they came and helped us build stop on credit. is that not right? guest: these car current -- companies have been the backbone of our country for many years. we have a long, rich history of building cars in america that have provided good paying jobs to americans. these are american made vehicle and the spin-off of the jobs created by this is enormous. it has been a boon to us to have

. >>> well, gms are jumping all over republican presidential hopeful mitt romney for what they are calling an insensitive remark he made to out of work people at a diner in florida. >> also tell my story. i'm also unemployed. [ laughter ] >> are you part of -- >> i have a particular job i'm working for. >> now, aides of the mul multimillionaire say he was just kidding and meant no harm. >>> a new gallup poll says republicans have a decent shot at winning the white house in 2012. it shows that at this point any republican candidate has a five-point edge over president obama. >>> abc news learned just b before federal prosecutors were set to indict john edwards he was asking bunny mellon for millions of dollars. it's unclear why he would ask for money or whether such a request would be illegal since he's not running for office but mellon's campaign contributions to edwards in 2008 are the crux of the criminal case against him. he's accused of using those funds to cover up his affair with rielle hunter. >>> to protect the tiny town of hamburg, iowa, take a look at this eight-foot earthen barr

today gm riley said barring some opportunity like getting lebron or dwight howard he expects to see monty in warrior uniform at least awhile. >> i'm pretty sure ellis will be here and it's one of those things that seems like people take a story an it takes on life of its own and it goes crazy and that's what this is all about. >>reporter: after being swept by the a's the giants are clinging to first place by half game and problem pretty simple. they have no offense right no now. giants scored only 5 runs in 3 games with oakland. giants had the day off today. host the twins tomorrow night. huff is hoping the offense wakes up much like last year. >> we came here tl got swept and then turned around. hopefully get the done and couldn't happen at better time. we have to figure outweighs to score. no easy fix. we have to start working better and put pressure on. not getting attach of that going on. >>reporter: par licenses are under scrutiny. just hired 80-year-old jack mckeen as the interim manager. he won the world series with florida as whippersnapper at age 72. he says his status as okay at

what dow expect from gm? >> well, we recommended selling it after its ipo when it was traded in the high --. >> you're a buyer now. >> i think the timing is good. under 30. so again, low expectations. you lost ten points on evaluation. and i think long term again, you know, there's going to be good rewards. no dividends prior to-- as opposed to our other recommendations. but i think good upside potential for the long-term. >> one dividend stock you do like is telephone data services better nonfor its u.s. cellular wireless division has been a choppy stock. telecoms haven't provided a great amount of defensiveness for portfolios. a small yield on this one. what dow expect. >> well, they've increased their dividend 37 years in a row, tom. i like that increasing dividend. and 37 dollar book again trading around 30 or less. i think it's hard to build a scenario where you don't make money long-term. >> tom: let's look at your previous picks from back in december of last career. you liked four stocks. a couple of t