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Feb 2, 2012
02/12
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government was somehow running gm. i just want my friend to know that, you know, on this side we really look at this very deeply and i wrote a letter dated june 29th, 2011, which i don't know if -- i'm guessing you may not have had a chance to see it because what this effectively did was to debunk any evidence of collusion in a june 29th, 2011, letter to the chairman, and i would specifically cite pages three and four and six and seven. you know this hasn't been -- when i wrote this letter, i haven't received any response that would indicate that there was a dispute as to what was said. so i just wanted to share that with my friend and with my chairman just so you know that there is -- that we looked at this and i think we effectively debunked it. >> without objection. >> i would ask unanimous consent. >> objection. the letter is entered into the record. i would point out, the e-mails are the e-mails. when you have people in the administration telling people at the company how they should structure a press release, how
government was somehow running gm. i just want my friend to know that, you know, on this side we really look at this very deeply and i wrote a letter dated june 29th, 2011, which i don't know if -- i'm guessing you may not have had a chance to see it because what this effectively did was to debunk any evidence of collusion in a june 29th, 2011, letter to the chairman, and i would specifically cite pages three and four and six and seven. you know this hasn't been -- when i wrote this letter, i...
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Feb 17, 2012
02/12
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and maybe i'll be able to get my new gm vehicle. >> reporter: a gm. >> yeah. of course. of course. >> reporter: we want to know what the taxpayers will get paid back at this point. chrysler has paid back all of its money. and gm has paid back half of what it owes. you have to keep in mind, the american taxpayer owns 30% of this company. owns it in stock. washington waiting for that stock price to go up before it can recoup all of that money. it went up $2 today. on this great news, diane. >> in the meantime, i love the worker saying, i can jump and touch the sky. david, thanks so much. >>> as you know, the news out of gm energized wall street today. it saw the biggest rally of the year. the dow up 123 points, closing just shy of the 13,000 mark. the highest close in nearly four years. the market was also buoyed by news that jobless claims have plunged to the lowest level in nearly four years. >>> and now, after two years, a terrorist faced justice today. the nigerian man known as the underwear bomber was sentenced to life in prison, for attempting to blow up a jetliner o
and maybe i'll be able to get my new gm vehicle. >> reporter: a gm. >> yeah. of course. of course. >> reporter: we want to know what the taxpayers will get paid back at this point. chrysler has paid back all of its money. and gm has paid back half of what it owes. you have to keep in mind, the american taxpayer owns 30% of this company. owns it in stock. washington waiting for that stock price to go up before it can recoup all of that money. it went up $2 today. on this great...
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Feb 16, 2012
02/12
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and how much of gm do we all still own? >> they got a lot. gm got $40.5 million. they paid back $24.1 brl. a little less than a half. but the u.s. treasury, meaning all of us, still owns 500 million shares of stock in the reconstituted gm. that's about 12 to $13 billion right now. we're on the hook, the u.s. treasury is on the hook for about 12 billion or $13 billion now and they don't expect further payment from gm. that's still an area of debate. no debate that gm is back on the rebound. we all have as the number one vehiclemaker in the world right now. >> mike taibbi, welcome back. great reporting out there at the plant in flint. >>> coming up later, a unique look inside another american business where, if they don't work the night shift, you don't get what you're expecting the next day. we went down to memphis to show you the vast and dizzying world of fedex. it's an airline, it's an army, it all moves in the dark. and we got a rare look inside. >>> but next up, chelsea clinton who will explain what the grown-ups have don't differently in one school district t
and how much of gm do we all still own? >> they got a lot. gm got $40.5 million. they paid back $24.1 brl. a little less than a half. but the u.s. treasury, meaning all of us, still owns 500 million shares of stock in the reconstituted gm. that's about 12 to $13 billion right now. we're on the hook, the u.s. treasury is on the hook for about 12 billion or $13 billion now and they don't expect further payment from gm. that's still an area of debate. no debate that gm is back on the...
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Feb 17, 2012
02/12
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we begin tonight with phil lebeau of cnbc with us from gm headquarters in detroit. phil, good evening. >> reporter: good evening, brian. with strong sales in the u.s. and china, the 103-year-old automaker reported strong profits today and reclaimed the title of world's largest automaker from toyota, but it hasn't always been an easy ride. it's a day few at general motors could have imagined two years ago. the world's largest automaker announced its most profitable year ever. for dave gray who works the new third shift at gm's plant in flint, michigan, the record earnings not only mean job security, but he and every other auto worker at gm will also get a bonus check of up to $7,000. >> thanks to the government for saving the auto industry and hundreds of thousands of jobs, uaw and general motors, we've got another chance. >> reporter: gm's second chance came two years ago when the automaker drowning in debt was forced to reorganize. >> tonight general motors filed for chapter 11 bankruptcy protection. >> reporter: backed by $49.5 billion from the federal government,
we begin tonight with phil lebeau of cnbc with us from gm headquarters in detroit. phil, good evening. >> reporter: good evening, brian. with strong sales in the u.s. and china, the 103-year-old automaker reported strong profits today and reclaimed the title of world's largest automaker from toyota, but it hasn't always been an easy ride. it's a day few at general motors could have imagined two years ago. the world's largest automaker announced its most profitable year ever. for dave gray...
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Feb 2, 2012
02/12
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i don't think -- >> as a policy, you, gm, did not try to get the obama administration to fail to disclose any tests that were made in a laboratory setting? >> no, no one. >> you're not aware of any accident or any injury that occurred to anyone driving a volt? >> absolutely none. >> they're safe in the vehicle; is that right? >> i own one, yes. >> you drive it and your family members drive it as well? >> i just bought it. >> let me ask you something -- if there was a material defect in a car that was out in circulation right now, would that affect, let's say, your insurance that gm would be buying from, you know, your insurance carrier, wouldn't they increase your cost of insurance if you had a claim for a product liability? is that a problem for you? >> yes. >> has that occurredded and your insurance company called you say say, wait, there's questions here, and it's going to cost you more to to have insurance, has that happened in >> i insured the car, but that was low because it's a five star rated car by the insurance institute. >> so the very people charged with determining risk as a
i don't think -- >> as a policy, you, gm, did not try to get the obama administration to fail to disclose any tests that were made in a laboratory setting? >> no, no one. >> you're not aware of any accident or any injury that occurred to anyone driving a volt? >> absolutely none. >> they're safe in the vehicle; is that right? >> i own one, yes. >> you drive it and your family members drive it as well? >> i just bought it. >> let me ask you...
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Feb 16, 2012
02/12
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. >> and also gm is revving up.er for the bailed out automaker, but there is one place that could stall its comeback. you have to stick with us here on "street signs" to find out what it is. [ male announcer ] we know you don't wait until the end of the quarter to think about your money... ♪ that right now, you want to know where you are, and where you'd like to be. we know you'd like to see the same information your advisor does so you can get a deeper understanding of what's going on with your portfolio. we know all this because we asked you, and what we heard helped us create pnc wealth insight, a smarter way to work with your pnc advisor, so you can make better decisions and live achievement. i'm making my money do more. i'm consolidating my assets. i'm not paying hidden fees or high commissions. i'm making the most of my money. and seven-dollar trades are just the start. i'm with scottrade. i'm with scottrade. i'm with scottrade. and i'm loving every minute of it. [ rodger riney ] at scottrade, we give you comm
. >> and also gm is revving up.er for the bailed out automaker, but there is one place that could stall its comeback. you have to stick with us here on "street signs" to find out what it is. [ male announcer ] we know you don't wait until the end of the quarter to think about your money... ♪ that right now, you want to know where you are, and where you'd like to be. we know you'd like to see the same information your advisor does so you can get a deeper understanding of what's...
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Feb 17, 2012
02/12
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WBAL
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at gm's assembly plant in flint, michigan, for the first time in two years gm's overnight shift is back up and running. 750 new full-time jobs with benefits. >> i have a real piece of mind because i feel like i'm back on track. >> reporter: the iconic american company still has a long road ahead. the government still owns a big share of stock and gm still owes billions from the bailout. on the campaign trail mitt romney worked to rub up the crowd in his native miracle michigan giving a nod to its come back. >> i love the auto industry. i'm glad it went through a managed bankruptcy process which i recommended from the beginning. >> reporter: meanwhile, rick santorum kept the heat on president obama. >> this is a president who is suffocating this economy. this is a president who doesn't care about you. >> reporter: there are signs companies are starting to hire again. in the past week jobless claims fell to their lowest in nearly four years. economists point to stronger retail and auto sales along with gains in manufacturing as good indicators the country is headed in the right direction.
at gm's assembly plant in flint, michigan, for the first time in two years gm's overnight shift is back up and running. 750 new full-time jobs with benefits. >> i have a real piece of mind because i feel like i'm back on track. >> reporter: the iconic american company still has a long road ahead. the government still owns a big share of stock and gm still owes billions from the bailout. on the campaign trail mitt romney worked to rub up the crowd in his native miracle michigan...
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Feb 6, 2012
02/12
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gm is also doing very well in china. gm has been the top seller there for years.lofty goal, but even if gm doesn't make it to that $10 billion mark, i would say it's definitely a turnaround for the auto industry. >> that clint eastwood ad, the flag waving, and all that -- it's an italian company, actually. >> right, it actually brought a tear to my producer's eye, i have to say. >> good to see you, allison kos kosik. i love to chat with you. >> yes. >>> thousands of women signing up for ninja training. the rise of martial arts training in iran, and a woman saved from being trapped in an avalanche. the whole thing caught on tape after this quick break, and we'll show you the piece of emergency equipment they say saved her life. wait around for that. unge and a♪ ♪ made sure his credit score did not go bad ♪ ♪ with a free-credit-score-dot-com ♪ ♪ app that he had ♪ downloaded it in the himalayas ♪ ♪ while meditating like a true playa ♪ ♪ now when he's surfing down in chile'a ♪ ♪ he can see when his score is in danger ♪ ♪ if you're a mobile type on the go ♪ ♪ i suggest
gm is also doing very well in china. gm has been the top seller there for years.lofty goal, but even if gm doesn't make it to that $10 billion mark, i would say it's definitely a turnaround for the auto industry. >> that clint eastwood ad, the flag waving, and all that -- it's an italian company, actually. >> right, it actually brought a tear to my producer's eye, i have to say. >> good to see you, allison kos kosik. i love to chat with you. >> yes. >>>...
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Feb 28, 2012
02/12
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gm and chrysler both paid off their loans. they need the the support to get stabilized, to create jobs. it wasn't just bankruptcy. the president's leadership he negotiated tough concessions on both sides with management and labor. this is something that we needed to do at this time. so no, that kind of rescue was essential to keep industry stable. >> what about this issue of bond holders? they still haven't paid -- auto companies still haven't paid back bond holders. >> the auto companies are starting to make profits. they are making record profits but emerging out of bankruptcy. >> his final point, nonunion auto companies were not in trouble while union companies, gm, chrysler, were in trouble. >> well, there were changes that need to be made. there was restructuring that needed to happen in the auto industry. that is true. the president's leadership made those changes and improved those companies. absolutely. >> we'll go to detroit -- >> it's not because of union wages. we have a strong middle class because of organized labo
gm and chrysler both paid off their loans. they need the the support to get stabilized, to create jobs. it wasn't just bankruptcy. the president's leadership he negotiated tough concessions on both sides with management and labor. this is something that we needed to do at this time. so no, that kind of rescue was essential to keep industry stable. >> what about this issue of bond holders? they still haven't paid -- auto companies still haven't paid back bond holders. >> the auto...
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Feb 16, 2012
02/12
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up next, gm's road map for success.esults and instant reaction from the company's ceo. "squawk box" will be right back. ♪ . >>> welcome back to "squawk box" on this thursday morning. among the headlines that we're following, vest in china fell in january for a third consecutive month. $10 billion worth in january down .3% from a year earlier. infloss the u.s. rose strongly but is not surprisingly investors from european countries dropped. more chinese cities are seizing ipads from retailers. this comes amid an escalating dispute between apple and china's proview over the ipad name. proview said it owns the name and apple is infringing on its trademark. apple said it bought the worldwide rights to that name. >> phil lebeau is standing by with numbers for gm. >> is that miss for the fourth quarter for general motors, reporting 39 cents a share. the street was expecting the company make 41 cents a share. revenue just a smidge below estimates coming in at 38 billion. full year general motors made a record profit 7.6 billion
up next, gm's road map for success.esults and instant reaction from the company's ceo. "squawk box" will be right back. ♪ . >>> welcome back to "squawk box" on this thursday morning. among the headlines that we're following, vest in china fell in january for a third consecutive month. $10 billion worth in january down .3% from a year earlier. infloss the u.s. rose strongly but is not surprisingly investors from european countries dropped. more chinese cities are...
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Feb 17, 2012
02/12
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CNN
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what's the strategy for gm going forward, then?well, they have to be a global company to be successful. and the biggest thing on their plate is fixing europe and to a lesser degree fixing south america. in south america, the products are getting kind of old. they're in the process of replacing them. that will adjust that. in europe, what they need to do is duplicate what they have done here in north america. they need to go in there and work with the unions and cut down capacity. they need to close plants. they have contracts that say they can't close plants till 2014. they're looking to see if they can open those up and stem those losses because that is really draining their bottom line. but north america is going gang busters. what was promising in the fourth quarter results, even though the quarter wasn't as strong, there were really nice glimpses, such as 500 million in savings because they're getting more efficient when they do their spending in advertising and engineering. they're getting better economies of scale. these are
what's the strategy for gm going forward, then?well, they have to be a global company to be successful. and the biggest thing on their plate is fixing europe and to a lesser degree fixing south america. in south america, the products are getting kind of old. they're in the process of replacing them. that will adjust that. in europe, what they need to do is duplicate what they have done here in north america. they need to go in there and work with the unions and cut down capacity. they need to...
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Feb 16, 2012
02/12
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when you break down gm's fourth quarter it's a tale of two companies. look at gm's primary profit drivers and in some cases loss drivers around the world, europe, big part of the business, lost $600 million in the fourth quarter. obvious problems too much capacity, sales not doing well, pricing down. but then you look at china and gm's international operations profit of $400 million. we've talked about the strong sales in china for a while. and finally the real profit driver, $1.5 billion in the fourth quarter from north america. the reason there is pretty clear. gm is profiting in north america because of greater demand, sales up for all the automakers, better pricing, they haven't had this kind of pricing power in years, and finally lower costs. you put all that together and gm has a pretty good recipe at this point. but earlier today cfo said they still have some work to do. >> we make good progress this year, but we're just beginning to see some of the benefits and impacts of a lot of the actions we're taking. and this is a long-term game. we have a
when you break down gm's fourth quarter it's a tale of two companies. look at gm's primary profit drivers and in some cases loss drivers around the world, europe, big part of the business, lost $600 million in the fourth quarter. obvious problems too much capacity, sales not doing well, pricing down. but then you look at china and gm's international operations profit of $400 million. we've talked about the strong sales in china for a while. and finally the real profit driver, $1.5 billion in...
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Feb 16, 2012
02/12
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the bailout for chrysler did cost money for gm, it be seen.he government is benefitting from gm doing well because there's an interest there. i think calling it crooney capitalism when you're talking to a lot of people whose jobs depending on the company, it's the people who support that and the community. >> it's the family that gets to pay their bills. this is the trickle down of when something survives. it's ironic he is driving around reminiscing. >> i hope it's not a gm. >> there's a report it's a chrysler. hopefully he wouldn't be that foolish to drive a foreign car. >> then there was the anti-china policy. one of gm's shinie ining spots selling cars to the chinese. gm has become an international auto company and one of the places it's selling cars to china. >> what do you make of this doubling down? i don't really like that phrase. he is just sticking by what he says. is there any way to get out of what he said, which was let them go. >> if i'm advising romney, which i'm not. >> he might be listening. >> he might say i oppose in general
the bailout for chrysler did cost money for gm, it be seen.he government is benefitting from gm doing well because there's an interest there. i think calling it crooney capitalism when you're talking to a lot of people whose jobs depending on the company, it's the people who support that and the community. >> it's the family that gets to pay their bills. this is the trickle down of when something survives. it's ironic he is driving around reminiscing. >> i hope it's not a gm....
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Feb 17, 2012
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vehicle. >> a gm. >> yeah.nt outside detroit. 800 cars now coming off this line every day. and those workers telling me they believe they're playing a huge part in gm's comeback. david muir, abc news, outside detroit. >> what a turnaround there. you look in the last couple of weeks of economic news in this country. things are beginning slowly of course to turn around. jobs numbers are good. house numbers are good. the dow now flirting with 13,000, highest in almost four years. impressive turnaround. >> gm has paid back 26 bill of the 49.5 billion of that government bailout. and just in 2011 they sold 640,000 more cars and trucks than they did in 2010. so a phenomenal turnaround. in just a short period of time. >> keep on rocking, detroit. >>> well, investors in asia are encouraged this morning by the upbeat economic news here in the united states. stocks rose sharply in early overseas trading, reacted to reports that american weekly unemployment applications dropped to a four-year low. the boost in asia was als
vehicle. >> a gm. >> yeah.nt outside detroit. 800 cars now coming off this line every day. and those workers telling me they believe they're playing a huge part in gm's comeback. david muir, abc news, outside detroit. >> what a turnaround there. you look in the last couple of weeks of economic news in this country. things are beginning slowly of course to turn around. jobs numbers are good. house numbers are good. the dow now flirting with 13,000, highest in almost four years....
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Feb 16, 2012
02/12
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one of gm's shinie ining spots selling cars to the chinese.m has become an international auto company and one of the places it's selling cars to china. >> what do you make of this doubling down? i don't really like that phrase. he is just sticking by what he says. is there any way to get out of what he said, which was let them go. >> if i'm advising romney, which i'm not. >> he might be listening. >> he might say i oppose in general doing these sorts of things. i think you should let companies rise and fall. this was an extraordinary circumstance that i respect. these are difficult choices that you need to make as president and clearly this has helped restore the economy. i think you can have your cake and eat it to. you can say i oppose it in principal, but this may be a specific case. >> it wouldn't be a far reach for him to do that since he said he's evolved or changed on issues regarding abortion and several others that we could name. they are still having problems in the european market. >> the opal division has done quite badly. things a
one of gm's shinie ining spots selling cars to the chinese.m has become an international auto company and one of the places it's selling cars to china. >> what do you make of this doubling down? i don't really like that phrase. he is just sticking by what he says. is there any way to get out of what he said, which was let them go. >> if i'm advising romney, which i'm not. >> he might be listening. >> he might say i oppose in general doing these sorts of things. i think...
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Feb 16, 2012
02/12
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for gm are good, but gm is losing money in europe.s taxpayers own a piece of this, a piece of gm? >> yes. the government still owns about 30% of general motors. its waiting to sell those shares until the stock price picks up. that way the government can can make more money. gm right now is up 4%, but it's trading below its ipo price. if the government did it sell today, it will be at a loss. so the government is holding out until at least it makes a bit of a profit. overall, the market is in the green today. boosted by some improving jobless claim numbers and home construction numbers as well. the dow is up 55. nasdaq and s&p are also in the green. suzanne. >> thanks good news. check this out. this is outside of detroit. drivers finding it kind of tough to stay on the right side of the law here. look at this sign. it's located in a school speed zone. it lists at least six different signs when drivers need to slow down during the day. the school district official says the times are needed because there are three schools in the area wit
for gm are good, but gm is losing money in europe.s taxpayers own a piece of this, a piece of gm? >> yes. the government still owns about 30% of general motors. its waiting to sell those shares until the stock price picks up. that way the government can can make more money. gm right now is up 4%, but it's trading below its ipo price. if the government did it sell today, it will be at a loss. so the government is holding out until at least it makes a bit of a profit. overall, the market is...
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Feb 16, 2012
02/12
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gm had a profitable year in 2011. though u.s. taxpayers are still on the hook for the company. november 2008, the ceos of the big three auto companies came to washington to ask taxpayers for a multibillion dollar bailout. they flew to the capital on private jets sparking the ire of some members of congress. >> almost like seeing a guy show up at the soup kitchen in high hat and tuxedo. >> reporter: gm eventually received billions from the government. chris her $2.5 billion. that helped keep the car companies afloat. fast forward to today gm has announced a record annual profit, $7.6 billion last year. gm's 47,000 union workers will each get a $7,000 profit-sharing bonus check. but keep in mind gm hasn't fully paid back the taxpayers. the u.s. government still owns about a quarter of the company with 500 million shares. the national legal policy center is a nonpartisan ethics watch dog group. their director says it's a great for the autoworkers union, lowy deal for taxpayers. >> i think these bonuses add insult to inju
gm had a profitable year in 2011. though u.s. taxpayers are still on the hook for the company. november 2008, the ceos of the big three auto companies came to washington to ask taxpayers for a multibillion dollar bailout. they flew to the capital on private jets sparking the ire of some members of congress. >> almost like seeing a guy show up at the soup kitchen in high hat and tuxedo. >> reporter: gm eventually received billions from the government. chris her $2.5 billion. that...
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Feb 16, 2012
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right now we have $500 million in stock in gm.lling for $25 that is $30 less than what was used to be selling in order for us to get our money back. why aren't they giving it back to the taxpayers. >> you didn't like the gm bailout in the first place? >> no, of course not. i don't think that government chooses winners and losers. why not bail out one in kentucky. the government is picking winners and losers. >> arguably, they say gm is back and made a record profit. regardless of where the money goes, gm is back? >> of course not. they made a profit. yes in north america because there was a digs eruption of the global supply chain for toyota and honda because of the tsunami in japan but if you look around the world, they slowing down profits in china. they are doing horribly in europe and continues to do bad in europe since honda and toyota have nothing to do in europe. they don't have as big presence. so they will continue and with south america they are doing horrible, too. they did okay in north america but if you look around t
right now we have $500 million in stock in gm.lling for $25 that is $30 less than what was used to be selling in order for us to get our money back. why aren't they giving it back to the taxpayers. >> you didn't like the gm bailout in the first place? >> no, of course not. i don't think that government chooses winners and losers. why not bail out one in kentucky. the government is picking winners and losers. >> arguably, they say gm is back and made a record profit. regardless...
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Feb 16, 2012
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they have to do this because gm has to keep a lid on expenses. though the sales in the u.s. are doing pretty well, the slowdown in europe can hurt the company. fredricka. >> i hear it was a rough day because you had quite of four-legged visitor. >> yes, yes. the top dog of the westminster dog show, he ran the opening bell. i think it's a he. i'm sorry if it's a she, but i think it's a he. malachi, a pekinese, this 11-pound furball rang the opening bell. we'll see the picture of it. it barely moved sitting on the side there. i've seen people tweet what it looks like. it's like a toupee with a face, isn't it? it's so ugly it's cute. >> it's so cute. >> where's the fais? >> it's in there. just a lot of hair. >> it is? there is a lot of hair. >> yes. thanks so much, alison. >>> now we want to take a closer look at a troubling discovery. arsenic found in some foods including baby formula. elizabeth cohen is here with details on this. nobody likes to hear that arsenic, eenot even a trace, isn your food. it's fairly common? >> let's talk about this a li
they have to do this because gm has to keep a lid on expenses. though the sales in the u.s. are doing pretty well, the slowdown in europe can hurt the company. fredricka. >> i hear it was a rough day because you had quite of four-legged visitor. >> yes, yes. the top dog of the westminster dog show, he ran the opening bell. i think it's a he. i'm sorry if it's a she, but i think it's a he. malachi, a pekinese, this 11-pound furball rang the opening bell. we'll see the picture of it....
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Feb 17, 2012
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last year, one gm car or truck, sold every 12 seconds. it's not unusual for companies to come out bankruptcy and have a positive bounce right after. the question is are they going to be able to sustain over the long haul. >> reporter: there is positive news, there where warning signs as well, including the euro debt crisis, gas prices which have been creeping up in recent weeks. >>> to the story of a simple mistake caught on tape. a cadeca neigheddian man accidently walked through the wrong r door at a courthouse skipping the routine security screening. a sheriff tried to stop the man, the sheriff picked him up and dragged him towards the exit. the man starts to go litch limp. the man had throat cancer and couldn't speak and hard of hearing. a tube was pulled out during the struggle in his throat. the sheriff was fired br using excessive and unjustified force. >>> google maybe tracking you. what they are able to do to keep track of you. >>> if you are looking for a job and savvy, we have the best city for you to get a job in right now. >>
last year, one gm car or truck, sold every 12 seconds. it's not unusual for companies to come out bankruptcy and have a positive bounce right after. the question is are they going to be able to sustain over the long haul. >> reporter: there is positive news, there where warning signs as well, including the euro debt crisis, gas prices which have been creeping up in recent weeks. >>> to the story of a simple mistake caught on tape. a cadeca neigheddian man accidently walked...
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Feb 15, 2012
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i think gm will be set to benefit.ll have record earnings in north america this year as part of the restructuring they went through in the courts. the suppliers on the supply side we like crw and warner. for safety, fuel economy emissions. and they should benefit longer term. >> all right, mike. great to speak with you. mike ward. which ones do you like? >> i like gm. again, yes, this has been price pd under stog. i think the questions around overhang and gm have plagued the company. i love the fact that they are competing in china. at least the next few years until the chinese throw them out. i like chrysler. i like fiat. i think fiat is in a bad neighborhood in its primary business. chrysler continues to be profitable for them. i think you buy that on weakness. >>> next on "fast money," is michael kors as hot as the stock? we've got your exclusive behind the scenes look and the trade. all that coming up on "fast money." stay tuned. [ male announcer ] we know you don't wait until the end of the quarter to think about
i think gm will be set to benefit.ll have record earnings in north america this year as part of the restructuring they went through in the courts. the suppliers on the supply side we like crw and warner. for safety, fuel economy emissions. and they should benefit longer term. >> all right, mike. great to speak with you. mike ward. which ones do you like? >> i like gm. again, yes, this has been price pd under stog. i think the questions around overhang and gm have plagued the...
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Feb 6, 2012
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gm did not have good sale, gm is a chinese story. very important. >> let's talk about boeing because that will have an impact on how the dow trades today. they're fixing a fuselage problem in the dreamliner, and there's no safety concern and progress is being made. boeing also says it is sticking with its timetable to ramp up monthly production on the dreamliner to ten by the end of 2013. but of course, the context here is it entered what, 2011 into service after three years of delays. this is yet another problem for boeing. >> unbelievable story. you're watching the super bowl pregame, lebeau breaks the story. this comes back to a fundamental decision by boeing to abandon aluminum and go with composites. there's always been suspicion, the aluminum people put this out, that the composites do not hold up over hot, cold, hot, cold. composites people say that's ridiculous, this is how you get fuel economy. but lebeau said holy cow, this decision to abandon aluminum is coming back to haunt them. >> it's early days, jim. they're not sayin
gm did not have good sale, gm is a chinese story. very important. >> let's talk about boeing because that will have an impact on how the dow trades today. they're fixing a fuselage problem in the dreamliner, and there's no safety concern and progress is being made. boeing also says it is sticking with its timetable to ramp up monthly production on the dreamliner to ten by the end of 2013. but of course, the context here is it entered what, 2011 into service after three years of delays....
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Feb 14, 2012
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>> well, because not everybody works at gm. it's a pretty big state.n people who do work at gm, a lot are not union employees, so i think this may be some -- and i haven't talked to the romney people about this, but it appears this may be an attempt to divide the union workers from the nonunion workers. >> i know you didn't mean to, but ford never went bankrupt. it was criesly. >> chrysler. >> but the union people took a business haircut. that's just not the case. and, you know, they -- they're doing better. it actually looks like there's certain people mad that gm and chrysler are doing better. you saw the big thing with clint eastwood and karl rove. it looks like to people that republicans are pulling against gm and chrysler, and actually it was ford that wanted them to do this because it would mess up the entire supply chain. this is why the republicans -- they look angry that the car companies are doing okay now. >> i have a feeling this will playable in the general election in a big way. thanks to both you gentlemen. always a pleasure to talk with
>> well, because not everybody works at gm. it's a pretty big state.n people who do work at gm, a lot are not union employees, so i think this may be some -- and i haven't talked to the romney people about this, but it appears this may be an attempt to divide the union workers from the nonunion workers. >> i know you didn't mean to, but ford never went bankrupt. it was criesly. >> chrysler. >> but the union people took a business haircut. that's just not the case. and,...
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Feb 29, 2012
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with europe's economy in trouble, what's behind gm's move?oins us with gm's vice chairman first on cnbc. >> thank you, sue. i'm joined by the vice chair of general motors joining me from new york where you just got off a conference call outlining this alliance, steve. we're going to show the terms of this alliance to our audience. in a nutshell this is really all about cost savings, isn't it? at the end of the day? >> i think it's cost savings and revenue opportunities, phil. really we're setting up a broad long-term strategic alliance around two pillars. products, modules, components and technology. and a purchasing jb. on the product side we'll be able to lower our cost of putting products on the road and also combine putting product on the road economically challenged if we did on our own. >> a lot of people look at this alliance saying it makes sense in terms of two companies spending trying to save money in terms of cost side. but did gm need to spend the money, which i think is $360 million to take that 7% stake? couldn't you have done
with europe's economy in trouble, what's behind gm's move?oins us with gm's vice chairman first on cnbc. >> thank you, sue. i'm joined by the vice chair of general motors joining me from new york where you just got off a conference call outlining this alliance, steve. we're going to show the terms of this alliance to our audience. in a nutshell this is really all about cost savings, isn't it? at the end of the day? >> i think it's cost savings and revenue opportunities, phil. really...
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Feb 28, 2012
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that two of the big three automakers, gm and chrysler, were on the bring of liquidation.he heartbeat of american manufacturing was flat lining. and we had to make a choice. with the chi economy in complete free-fall, there were no private investors or companies out there willing to take a chance on the auto industry. nobody was lining up to give you guys loans. anyone in the financial sector can tell you that. so we could have kept giving billions of dollars in taxpayer dollars to auto workers without demanding real changes and accountable that was needed. that was one option, but that wouldn't have solved anything in the long-term. sooner than later we would have reason out of money. we could have just kicked the problem down the road. the other option was to do absolutely nothing and let these companies fail. and you will recall there were some politicians who said we should do that. some even said we should let detroit go bankrupt. you remember that. you know him. think about what that choice would have meant for this country. if we had turned our backs on you, if amer
that two of the big three automakers, gm and chrysler, were on the bring of liquidation.he heartbeat of american manufacturing was flat lining. and we had to make a choice. with the chi economy in complete free-fall, there were no private investors or companies out there willing to take a chance on the auto industry. nobody was lining up to give you guys loans. anyone in the financial sector can tell you that. so we could have kept giving billions of dollars in taxpayer dollars to auto workers...
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Feb 16, 2012
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not just for gm but all auto owners. gm was allowed to strip down the cost considerably.o have to pay $5 billion a year in health care costs. that's not a problem anymore. so as a result, because of those lower costs, combined are growing sales and pricing power that they've never had, they are able to rack up the profits they've been able to rake in. $7.6 billion the last year. $3 billion improvement compared to 2010. thomas? >> phil lebeau. thank you, sir, appreciate, back to the campaign trail and mitt romney's campaign appears to be stalling. while he's getting the governor's endorsement in michigan today, he is out-spending rick santorum in the ad diplomat department. h there is one thing he can't buy and it could cost him this nomination. michael is a special correspondent for "newsweek" and daily beast and writes that mitt romney has an emotional disconnect. in fact, he calls romney the gop's al gore. all right. so let's get into this. you write that romney's emotion deficit is doing to him what republicans, basically what we saw with al gore. expect what you mean
not just for gm but all auto owners. gm was allowed to strip down the cost considerably.o have to pay $5 billion a year in health care costs. that's not a problem anymore. so as a result, because of those lower costs, combined are growing sales and pricing power that they've never had, they are able to rack up the profits they've been able to rake in. $7.6 billion the last year. $3 billion improvement compared to 2010. thomas? >> phil lebeau. thank you, sir, appreciate, back to the...
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Feb 16, 2012
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we'll ask gm's ceo tonight on the "cbs evening news." s. when my asthma symptoms returned, my doctor prescribed dulera to help prevent them. [ male announcer ] dulera is for patients 12 and older whose asthma is not well controlled on a long-term asthma control medicine, like an inhaled corticosteroid. dulera will not replace a rescue inhaler for sudden symptoms. dulera helps significantly improve lung function. this was shown over a 6 month clinical study. dulera contains formoterol, which increases the risk of death from asthma problems and may increase the risk of hospitalization in children and adolescents. dulera is not for people whose asthma is well controlled with a long-term asthma control medicine, like an inhaled corticosteroid. once your asthma is well controlled your doctor will decide if you can stop dulera and prescribe a different asthma control medicine, like an inhaled corticosteroid. do not take dulera more than prescribed. see your doctor if your asthma does not improve or gets worse. ask your doctor if dulera can help y
we'll ask gm's ceo tonight on the "cbs evening news." s. when my asthma symptoms returned, my doctor prescribed dulera to help prevent them. [ male announcer ] dulera is for patients 12 and older whose asthma is not well controlled on a long-term asthma control medicine, like an inhaled corticosteroid. dulera will not replace a rescue inhaler for sudden symptoms. dulera helps significantly improve lung function. this was shown over a 6 month clinical study. dulera contains formoterol,...
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Feb 2, 2012
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which this administration has approached its duty to inform consumers about the apparent risk that gm chevy volt can catch fire. while it remains to be seen if it deserves special treatment, it's clear that the administration has tremendous incentives in the company and the vehicle. in the face of that political dependency, the public notify asian of the safety concerns related to the volt were delayed for six months. the period of time that also coincides with the negotiation over the new fuel economy standards. it's also troubling that during a subcommittee hearing this very subcommittee in october 22011, there were concerns about the advanced vehicle and it would have been of interest to committee members. but for a resourceful bloomberg reporter who reported on the fire in november 2011, it's unclear whether it ever would have made news of the volt fire made public. it opened a safety defect investigation. in addition, the subcommittee is also concerned # about the preparedness of nitsa to regulate vehicles. president obama set the goal of one million electric vehicles on the road
which this administration has approached its duty to inform consumers about the apparent risk that gm chevy volt can catch fire. while it remains to be seen if it deserves special treatment, it's clear that the administration has tremendous incentives in the company and the vehicle. in the face of that political dependency, the public notify asian of the safety concerns related to the volt were delayed for six months. the period of time that also coincides with the negotiation over the new fuel...
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Feb 24, 2012
02/12
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close to 27% of gm stock. the auto unions own 17 to 18% of gm stock and so, we're still heavily leveraged as a nation in our ownership of gm and so there's a lot that still rides on the outcome. it's great to have these numbers now, but no one knows what the long-term management structure is going to be and how it's going the look on the other side, so there's still a lot of ground to cover here, so all the pats on the back and flying commercials with the flag and a u.s. made car in it is great theatre, but there's still an underlying structural economic question that has not been addressed. >> governor strickland, you have a very inspiring story i believe you didn't have running water in your house until you were in your teens. i think folks would consider you pretty blue collar politician. who would you rather face as a democrat? rick santorum or mitt romney and his more well to do upbringing? >> that's a conflictual question. we ought to be talking about jobs and mr. santorum wabts to talk about contracepti
close to 27% of gm stock. the auto unions own 17 to 18% of gm stock and so, we're still heavily leveraged as a nation in our ownership of gm and so there's a lot that still rides on the outcome. it's great to have these numbers now, but no one knows what the long-term management structure is going to be and how it's going the look on the other side, so there's still a lot of ground to cover here, so all the pats on the back and flying commercials with the flag and a u.s. made car in it is great...
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Feb 16, 2012
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>> i think that gm for the united states, not bad. i don't want to be like -- they may have the wrong mix but they're selling a lot of cars. it's clear we have a robust car market in general here, but you can't see it because europe is so important for these companies. we tend to be very u.s. centric. we don't realize how much money they can lose there and how it can wipe out any profitability here. >> all right. >>> when we come back this morning, zillow on a tear this year after becoming one of 2011's high-profile internet ipos. we'll talk to the ceo on how he plans to keep things clicking for the real estate website. don't go away. ♪ j. >>> welcome back to "squawk on the street." rick santelli on the floor of the cme fwrgroup. we had data points. fresh 4-year low on claims down 13,000. housing better than expected. we all know it's going to be -- mr. paulson, ex-treasury secretary words. one fly in the ointment is that the ppi core at 3% year over year, well, you have to go back to june of '09 to find a higher year over year than t
>> i think that gm for the united states, not bad. i don't want to be like -- they may have the wrong mix but they're selling a lot of cars. it's clear we have a robust car market in general here, but you can't see it because europe is so important for these companies. we tend to be very u.s. centric. we don't realize how much money they can lose there and how it can wipe out any profitability here. >> all right. >>> when we come back this morning, zillow on a tear this...
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great numbers, good job for gm but that big number kind of masks all problems that gm still is facingig slowdown in europe and also very high pension costs here in the u.s. because of that, gm is making changes to its pensions. it is freezing pay for 26,000 workers it will give them an extra week of vacation time instead. and changes like this are making people question whether gm is really on the recovery we thought it was. >> exactly. lauren simonetti in new york. thank you so much. we'll check in with you tomorrow. >> okay. >>> being a michelle millman is a rewarding job but one that doesn't come with a lot of recognition. today at the white house, one group dedicated to helping mothers find support through friends will be in the spotlight. we'll have more on that. >>> , he lost husband life in the line of duty and today an entire city will pause to honor paramedic joshua weissman. we are back in a moment with more on that. ñ i trained in medical school. at the time, there was very little business training. ♪ so hurry up, let's go, don't want to miss... ♪ i had my
great numbers, good job for gm but that big number kind of masks all problems that gm still is facingig slowdown in europe and also very high pension costs here in the u.s. because of that, gm is making changes to its pensions. it is freezing pay for 26,000 workers it will give them an extra week of vacation time instead. and changes like this are making people question whether gm is really on the recovery we thought it was. >> exactly. lauren simonetti in new york. thank you so much....