gm now done ducts more than 50 different crashes before releasing a new model. we're about to see how they do it. and gm pulls the plug because they're crashing a car that hasn't been released yet. >> this is very sensitive. something needs to be fixed, we want to make sure that's done well before any consumer or anybody considers these brands or know anything about it. >> reporter: we persuade them to let us show the multiton barrier hurtling toward the car. oh, gosh. >> just like that. a truck has hit the side of that car. >> reporter: bam. what we just saw and heard was t-bone crash similar to this one. we've seen a breathtaking series of splashes and crashes but for the new gm the true test is whether people will by their cars. elisabeth leamy in milford, michigan. >>> ahead, at home at the white house with michelle obama what she told mee co-anchor about life with the commander in chief. >> a little intimidated, a little afraid of you do you think? music: "make someone happy" music: "make someone happy" ♪it's so important to make someone happy.♪ ♪it's so im

[indiscernible] it was banning gm. thousands of people die in africa because of the high prices of food. this is a source of fear that basically takes people like myself that works for environmental causes, benefits the environment and fight against -- [indiscernible] move to a world that relies on reliablrenewable sources. >> we are going to have to leave it there, but i want to thank you both for being with us. stacy malkan, longtime advocate for environmental health and spokesperson for the "yes on 37 california right to know campaign." shias author of, "not just a pretty face: the ugly side of the beauty industry." and professor david zilberman, co-director of the center for sustainable resource development in the school's college of natural resources and prof. of agriculture and resource economics at university of california, berkeley. when we come back, we will be joined by a well-known journalist michael pollan. ♪ [music break] >> this is "democracy now!," democracynow.org, the war and peace report. i'm amy good

to the gm question. need to have the capabilities on society to repurpose out of the -- what's released when something dies. when something old falls, but there's not enough that in pakistan or egypt. i didn't talk about china or india, a different story, but that gets to the point you talked about. >> host: what do you teach here at george mason? >> well, i teach economics and social entrepreneurship. i teach in the public school, believer in entrepreneurship as a transformative society, but a social interneerpship course thinks about addressing public challenges in an intrerp entrepreneurial manner, new pathways to make the most of that. there's folks in the book who saw you, folks who are social entrepreneurs, but they are entrepreneurs. i love the environment, great teaching here. i have colleagues lie tie lar colin, great man on economics, and a lot of other colleagues in different disciplines, louise shelly, a global leader in documents and researching and working on human trafficking. president ob

capitol in gm , be reallocate many other jobs would be created in the economy. they weaken automakerings. out of bankruptcy they would be owned by car makers that knew how to make a profit. >> thank you very much. worker burnout part of the economic fall out. sounds right, but it is wrong. silver lining on hard working americans on cash in texas taking on a united nations backed group trying to monitor the elections in the u.s.. somesome calling to cut off funds tut un once and for all. we debate and you decide . don't mess with texas. on election day un will be monitoring poling station and texas general said if they overstep texas law he will arrest them and not just texas florida congressman calling to cut u.s. funds to the un over this issue. >> we don't need the un we have a federal election commission and by the way, the un has no jurisdiction over the u.s. electio. you know the new york rubber room for teachers. they are a rubber room for general motor bureaucra. they never cared. they get mon yethere is fraud and abuse. >> isn't there manage wrong with t

capitol in gm , be reallocate many other jobs would be created in the economy.weaken automakerings. out of bankruptcy they would be owned by car makers that knew how to make a profit. >> thank you very much. worker burnout part ofhe economic fall out. sounds right, but it is wrong. silver lining on hard working americans on cash in texas taking on a united nations backed group trying to monitor the elections in the u.s.. somesome calling to cut off funds tut un once and for all. we debate and you decide . the capital one cash rewards card gives you a 50% annual bonus. and everyone, but her... likes 50% more cash. but, i have an idea. do you want a princess dress? yes how about some cupcakes? yes lollipop? yes! do you want an etch a sketch? yes! do you want 50% more cash? no you got talent. [ male announcer ] the capital one cash rewards card. with a0% annual cash bonus it's the card for people who like more cash. what's in your wallet? i usually say that. are we there yet? are we there yet? [ male announcer ] it's the question we ask ourselves every day. is it t

but as one gm executive told me. this ad crossed a line.was, as i said, too outrageous and misleading for them, not to respond to. the fact is, general motors has been building vehicles in china for many years. it's one of the largest carmakers in china. but no automakers sell cars made in the united states, into china, because of import duties and the costs associated with that. on the chrysler side, it's troubling that they would attack jeep, which is serving the cornerstone of chrysler's comeback, and toledo, ohio, and detroit, michigan, where they are adding jobs, shifts in the plants, and making more jeeps than ever before and can't keep them in stock long enough. so, to suggest that they need to go elsewhere to build their jeeps, is false. and the fact of the matter is, in the global auto industry today, particularly in china, the mantra is, build them where you sell them. so this idea that somehow american jobs are at risk, because of chinese production, really doesn't add up. >> let me go to steve rattner. i think for the people tha

we developed a process to buy good gm and good price for out of old gm and old chrysler creek is a price -- a process that has been used many times before. we thought about whether we should go to congress for a new bankruptcy law. the advice i was getting, we looked at that and realized that would take a year or two to get done if at all, and there was no question we did not need to change bankruptcy law. we went ahead with the 363. not surprisingly, it was litigated. we had opponents. it was litigated all the way to the supreme court. not one judge in any court, all the way up to the supreme court gave the objectors any time of day, a concession, not, tip, anything. it was in essentially everyone of them said we were well within the bounds of bankruptcy law. why? because we adhere to the fun and the principle of bankruptcy law that you can restructure a company fairly as long as every class of creditors is getting at least as much or more than they would have gotten had your plan not gone on through and the company liquidated with chrysler, where the banks were not happy that we gave t

but in the case of gm and chrysler, the corps did uphold that. the only waiver i can think of is treasury did change the rules for allowing new gm and new chrysler to retain the deferred tax losses from the old company. >> [inaudible] >> that change was for any company. >> it was. >> it was done because a lot of companies in the position of the time, the treasury was trying to help the restructuring of the american economy. but i have no idea what you are talking about when you say secretary dieter issued waiver after a waiver. there were no waivers. i was there and there were no waivers. >> we will do question and response. on the million jobs been, the center for auto research developed that number, they are an independent body in michigan. in the case of chrysler, when we were trying to decide whether to save chrysler, we did work on how many jobs would be lost if chrysler went down. our answer was 300,000. that may seem like a lot, but you have to consider all the dealers, suppliers, other effects. i would can see that over time, and this is

they went from, there was an old gm and a new gm, so they went through kind of a managed bankruptcy afterl the bailout work was done. >> then ford did it all on their own. >> wait, this is not true. that is not true. ford had the timing on their side. they went and renegotiated their debt before the 2008 crisis hit. they happened to have an advantage of going to wall street to renegotiate their borrowing authority and it was the calendar. >> the ceo of ford said about mitt romney's prescription. he said if gm and chrysler had gone into a free fall bankruptcy, they would have taken the entire supply chain and auto agency with it. he said that in 2010. so that's really what -- >> speculation is not accurate. >> it is because there was no way that private capital were going to keep those companies alive into a chapter 11 reorganization. they would have gone into liquidation. we would have lost not only those two companies, but the supply chain. >> what he said, these are his words, the american auto industry is vital to our national interest as employer and hub for manufacturing, a managed b

gm says the fuel pumps could crack and cause a potentially dangerous fuel leak. own kers get a free replacement by contacting gm dealer. >>> expect to pay more for meat because of the extended drought from the summer, farmers had to pay more for grain to feed the animals. the rising cost will not affect just the butchers but restaurants and dinner tables across the u.s. >>> and the newly released 3d flick hotel transylvania is a big hit for the moviegoers. the movie brought in 43 million dollars. number two spot went to looper and that stars joseph gordon levit and end of watch brought in 8 million in text sale >>> many believe tsa agents need some more training. how two loaded weapons wentunchecked undetected and made their way onto flights this last week. good morning begins right now. >> you are watching the station that works for you. now, good morning maryland. >> abc2 is working for you making sure you don't get scamedif you are trying to get your hands on the o's playoff tickets. what you need to know straight ahead. and from child seats to your facebook p

last month only one gm car was in there. gm is alive but back on the operating table. political story of the week. tomorrow night's presidential debate no matter the outcome the mainstream media is calling it a win for president obama. here are two headlines from the washington post, romney forced to play defense. mitt romney versus mitt romney and president obama will be there too. bill o'reilly is the author of the new book killing kennedy:the end of canada. great have you with us. you were very restrained when we were talking about gm and the banks and you hold yourself back. >> i am not as smart as you guys. i agree the stock market is vague and that is -- [talking over each other] charles: people like you are such a powerful influence. what do you say to a family that retires that had no money. bill o'reilly said it was -- >> i said it was a perception but i will say it is rigged the. [talking over each other] >> here is my advice to everybody watching. i have 30% of my portfolio in equities and kept it there. i haven't deviated from and i will keep it there until

compared gm with toyota it created 15,00 jobs in america. over the ame period gm lost 400,000. how was that good fo workers? >> union members shouldhave a right to ionize. but the downside is the opportunities lost because union rules limit the of entrepreneurs ability to adapt and grow.

he talked up gm, cigna shares got a boost from his comments, and green mountain fell apart.at should investors do when, here's this big hedge fund guy out here talking up and down stocks? > > i think long-term investors absolutely kind of ignore, but for the short-term guys, obviously they hang on every word. and don't think that mr. einhorn may not be taking advantage of some of that tagalong selling or buying - depending on which side of the fence he is - to trim out some of the positions at a better price than he got into. so, he can move the markets, and the big boys absolutely occasionally will take advantage of the fact that they can move them their way. > > i would love to get your thoughts on yahoo. here is a stock that has traded in a range now for a long time. is there any chance of a break-out or breakdown on this stock? > > i absolutely think with melissa mayer being in charge there, certainly she is there to run the company, not try to build it for a takeover possibility. although with the acquisitions google and everyone else is having, yahoo is getting a littl

industry analysts think gm could soon put its foot on the break. opel is a big obstacle to their plans to roar back. >> good news for germany -- projections said the company will collect its highest tax revenues ever this year. the federal government as well as states and municipalities are said to take in a total of 602.4 billion euros, which beats earlier projections by almost 6 billion euros. the government says it will come close to balancing its budget next year. >> germany will pay out billions of tax reimbursements to foreign companies. that is in order to comply with a ruling from the european court of justice. >> the court found that foreign stockholders in germany paid too much in taxes on their dividends and ordered germany to rectify the situation. the payments are set to cost the treasury at least 3 billion euros. >> the german economics ministry has confirmed media reports that european and north african countries have begun negotiations on a mass of solar energy project in the sahara desert. >> the desert tech project would see solar

romney's camp indicated they will take gm immediately. they will sell that stock, so that's a pretty binary situation. you will get results from ralph lauren. will they be the next company that we thought was doing well and europe slowed? the stock went down 13 points, but that won't be enough. anything negative at all on the call, ralph lauren trades hard, up and down on very little volume. please be careful. there are huge numbers reporting, companies reporting on thursday, including exxon. i think that will be just fine, by the way. i want to hear from little chart industries, the company as an important recommendation, and key to our nation's attempt to harness natural gas. it's a huge cost control for the whole conversion. we'll be on it. kellogg is a trade and there was a time when kellogg was consistent, consistent, consistent. i think you want to own the stock going into the number and the company is taking off with restructuring, beginning to grow again. they are an antifiscal cliff stock if there ever were one. then chesapeake e

gm scoring big beats in the second quarter. the auto maker earned 93 cents a share for the quarter, that was well above the 60 cents the street had been looking for. phil lebeau has a special guest joining him to talk more about this. phil? >> thank you, becky, i'm joined by the cfo of general motors joining us on the "squawk" news line first on cnbc. when you look at you guys earning 33 cents more than the street was expecting. >> well, phil, i'd say overall it was a good quarter for us. and a challenging environment. being able to grow revenue, grow profits as you mentioned year-over-year. our margins are up slightly, strong cash flow. got some important launches away this quarter in terms of new vehicles into the market for cadillac and other of our brands. so good quarter overall, and we've made some progress on some of the tough issues in front of us including pensions and we're making reasonable progress in europe. >> and we'll talk about europe in a bit. but i want to ask you about revenue. nearly $2 billion better than

i've owned gm's as well. they never needed the money had they all got bailed out.ays thought they had a better brand and structure and better organizational company than gm. right, wrong or -- i could o be totally off base on this. that was the perception. i should pull the trigger on a day like today. but like i said, the soft spot continues. i'm still long for it. >> i'm long for it also. we bought more today. i think ford looks better at 11 and change than last week at ten and change. this quarter was great. a record quarter as the ceo mentioned. i think the u.s. has enough to carry europe through this soft spot. ford is a play on housing as housing picks up more ford pickup trucks. the setup -- >> i'm sure there are a lot of viewers thinking why does it look better -- we got results and we're very, very strong. was it so outside compared to what we knew last week that it justifies buying it 7% higher. >> great. when i said that, it was more on a technical plane. when it was getting up to 10.5 and falling off through 11 it looks like it dps higher. >> the moment

romney's camp indicated they will take gm immediately. they will sell that stock, so that's a pretty by near situation. you will get results from ralph lauren. will they be the next company that we thought was doing well and europe slowed? the stock went down 13 points, but that won't be enough. anything negative at all on the call, ralph lauren trades hard, up and down on very little volume. please be careful. there are huge numbers reporting, companies reporting on thursday, including exon. i think that will be just fine, by the way. i want to hear from little chart industries, the company as an important recommendation, and key to our nation's attempt to harness natural gas. it's a huge cost control for the whole conversion. we'll be on it. kellogg is a trade and there was a time when kellogg was consistent, consistent, consistent. i think you want to own the stock going into the number and the company is taking off with restructuring, beginning grow again. they are an antifiscal cliff stock if there ever were one. then chesapeake ener

gm will invest $500 million into that plant, ed. he is lying in the beginning and he'll be lying all the way through this. >> i don't think the obama campaign could hand a better script to the romney people and say, here, do this and implode in the state of ohio but the question is, chris, what are you hearing out of toledo? are the people of ohio reacting to this and do you think these false ads are having an impact? >> oh, sure, i live right down the road from the jeep plant, about 35 minutes from north toledo where a state-of-the-art facility was built about a decade ago with the support of a republican governor across northwest ohio and thousands and thousands of jobs were saved because of it. let me remind you, i know you know this, general motors and fiat which owns a share of chrysler which produces the iconic brand jeep are publicly traded corporations. with lives of workers at risk. and you are greeted by a television kwhescommercial suggg your job is about to be shipped to china. mitt romney knows it's not true and if he d

they threaten to shut down gm.they -- the government simply billion, about half of that was straight from the u.s. treasury in a takeover of delphi's pension fund. once they got the money, they eliminated 28 of 29 auto plants in the u.s. they eliminated every single job of every uaw member, over 25,000 members all lost their jobs. almost every plant would then move by the romney group to china. delphi is making a fortune today. you have 25,000 workers who lost their jobs to china. three hedge fund managers made at least $4 billion, and romneys had made at least $15 billion, but the evidence suggests it is more like $115 million for the romneys, about 4000% profit. will we cannot get from them at this moment, this may be the reason why they are not releasing their 2009 taxes because that would give us the better hint. unfortunately, that not only moved the company operation to china, but move their incorporation of the auto parts division, general motors, from troy, michigan to the isle of jersey in the miniature na

gm says it hasn't received any reports of fires or injuries. this is gm's second recall in two weeks. >>> and more people are getting their news on the go. a new survey by the pew research center finds about half of all adult americans now own a smart phone or tablet, and a third of them use their device to view news stories or video clips at least once a week. about a fifth of mobile news viewers say they pay for an online subscription, but they're not totally ready to give up on the printed word. a third of people say they want int only subscriptions and have no plans to give them up. guys, call me old l skschool, b happen to agree with them. >> i'm with you. thanks, shartia. >> firefighters in prince george's county are doing their part to raise awareness about breast cancer. for the rest of the month, firefighters will forego normal uniform shirts for special pink ones like this. firefighters were able to raise and donate about $10,000 to breast cancer research last year. they hope to surface their goal this year and raise $13,000. you can

also says that gm could be break even in europe in three years. remember, they are on track to lose more than $1 billion in europe this year around he says gm has improved costs and a cleaner balance sheet. that's why he likes general motors, sue. if you take a look at that stock the last year or over the last month, tyler, it's up more than 11%. store, has been moving higher and those comments today from einhorn certainly giving it a boost. >> phil lebeau, thank you very much. >>> politics now, president obama and governor mitt romney putting the finishing touches on their preparation before the big debate tomorrow night but will the debates make a big difference? brand new nbc news/"wall street journal" poll released just this minute looks at how closely people will be watching >> eamon javers in washington now with the latest. >> the stakes did just get a little bit higher for those debates in the presidential level this week. take a look at these results now from the new nbc news/"wall street journal" poll which we can bring you. the question

all other new jobs and if you're a gm worker are you grateful to obama?do you think you've worked hard so your company survived? at some point obama claiming credit for your job begins to get thin. >> greta: benghazi. we've spent a lot of time talking about it. and frankly there are a lot of remaining questions and nobody sort of set out what happened. we've got bits and pieces and weird stories about videos and we've had, it's an incomplete picture, other news organizations aren't particularly pursuing this. we are and a few others. i'm curious is benghazi an issue that is one that is in any way related to the voters have interest in it. >> and in terms of the election i was talking with senator ron johnson of wisconsin said every victory center he went to people were saying tell me about benghazi. people in ohio, people have been asking about benghazi. there is a rumor that two networks have i mails telling a counter trift group to stand down but they're a group in realtime trying to mobilize marines and c 130s and were told stand down, do nudging this

owners can get a free replacement by contacting a gm dealer. >>vicki: today is the last day that the country's busiest freeway will be shut down. a 10 mi. stretch of interstate 4 05 has been shut down all weekend long. this is the second time this section of freeway has shut down. the freeway is expected to reopen early tomorrow morning. >> amtrak is guilty of overlooking drug and alcohol use by employees. amtrak and please feel the test at a 51% higher rate than the real industry average. drug and alcohol use by amtrak employees has steadily risen since 2006. a majority of the employees tested positive for marijuana and cocaine. >> if you purchase medications online, a new campaign from the fda says it could be getting fake, expired or even toxic medication. the fda says nearly one in four customers purchased prescription medications on line and says it is pretty risky. less than 3 percent of my pharmacies' meet state and federal laws. a warning, if the price seems too good to be true, you know the old saying, it probably is. >>brian: what a d

all other new jobs and if you're a gm worker are you grateful to obama?do you think you've worked hard so your company survived? at some point obama claiming credit for your job begins to get thin. >> greta: benghazi. we've spent a lot of time talking about it. and frankly there are a lot of remaining questions and nobody sort of set out what happened. we've got bits and pieces and weird stories about videos and we've had, it's an incomplete picture, other news organizations aren't particularly pursuing this. we are and a few others. i'm curious is benghazi an issue that is one that is in any way related to the voters have interest in it. >> and in terms of the election i was talking with senator ron johnson of wisconsin said every victory center he went to people were saying tell me about benghazi. people in ohio, people have been asking about benghazi. there is a rumor that two networks have i mails telling a counter trift group to stand down but they're a group in realtime trying to mobilize marines and c 130s and were told stand down, do nudging this

both chrysler and gm are firing back at romney. chrysler ceo said in a statement jeep assembly lines will remain in operation in the united states and will con sstitute th backbone of the grand. it is inaccurate to suggest anything different. a gm spokesman told the detroit news, quote, we've clearly enter ed some parallel universe during the last few days, no amount of campaign politics at its cynical worst will diminish the record of creating jobs in the united states. remember, this new romney jeep ad claims that all factual statements in it, the implication is different, but the statements themselves say jeep is being built in china, which the ad says for the implication, of course, is this idea that they're moving some operations out of ohio to china and that's what both gm and chrysler are fighting back on is that perception. ohio papers pummeling romney for the ad. they called it a ploy in an editorial yesterday and said romney is flailing in ohio. and don't forget that detroit, where the free press is heavily criticized rom

a documentary takes us behind the scenes of a gm factory closure. and a trader's impression on alcoa's earnings. first business starts now. you're watching first business: financial news, analysis, and today's investment ideas. good morning. it's wednesday, october 10th. i'm angela miles. in today's first look: earnings from alcoa and yum brands. first up alcoa. the aluminum company posted a loss, but still managed to top expectations. alcoa lowered its growth forcast to 6% from 7%. the company has $1.4 billion cash on hand. apparently there's a lot of money in chicken and tacos. yum brands, which owns kfc and taco bell, reported stronger-than- expected earings and raised its full-year guidance. meanwhile, tuesday was a down day on wall street. stocks and gold sold off on global economic concerns, while oil rallied. nhl talks could resume today between players and owners. the commissioner says major money issues are not on the agenda. and the cfo of best buy is leaving the company after 10 years on the job. todd horwitz of the adam mesh group joins

it will be made at a gm plant that makes the volt. apple is expected to announce the release of yet a newer but smaller ipad next week. the current ipad costs about $500. the new version is expected to cost half that and come with a smaller screen. apple invited reporters to next tuesday's event where the company will likely show off the new tablet. interestingly enough, steve jobs often complained that small tablets are difficult to use. but it will be exciting to see that. >> they will like the smaller price tag. >> thank you. in your sports news the new york yankees will have to climb out of a 3-0 hole if they want to play in the world series. game three of the american league championship series in detroit fourth inning, young gets the scoring started with a solo home run that clears the left field fence. top of the ninth yankees down by a run and threatening. post-season hero strikes out. detroit wins 2-1. detroit can close out the series tonight. one nfl team can put a ring on it for winning this year's super bowl but not until

mike rizzo, the gm of the nationals. thank you.e two out of three. >> love it. >> it's exciting. it's 1:07. we are literally just hours away from the first playoff game here in washington, d.c. >> great work. get all the big guys to come out. appreciate it. >>> he is only 19 years old. he already has an impressive risumi. singer chris cab has worked closely with t payne, wycliffe jean, has more than 7 million youtube hits. his e p titled rise is here. he is performing here at the u street music hall this evening. nice to meet you. >> nice to meet you, tony. >> 19 years old. i know this is the beginning for you, really. you have to be thrilled with how things are starting. >> i'm super happy and super fortunate and blessed to be here and want to work hard and happy to work hard. >> from what i have read, your first time in the studio to record was when you were 13 years old. your father brought some time for you? >> i begged him for a long time. he was like, that's expensive. i don't know about that. he took me to meet ferrell. he h

it's a david and goliath tale of a gm with a small budget for salaries outthinking everyone else using statistical formula to find winners among baseball's discards. you have to find undervalued players. >> you essentially have to have players whose performance is better than what we're paying them. >> reporter: beane's calculations led the a's to the playoffs five times between 2000 and 2006. that made many teams in baseball rethink how to stock their rosters and begin copying the a's blueprint. then the a's went five straight seasons without a winning record. at any point in the last five years were you thinking to yourself i may have lost my edge? >> no. i think during the time period you're talking about, people sort of wanted us to cry uncle, like you've got to change. >> reporter: he didn't change. he beat the bushes to find no names like jonny gomes and brandon moss. >> it's easy to buy a ferrari and take it to the racetrack. >> reporter: would you agree with me there's not a lot of ferraris out there? >> 100%. there's not many at all. >> a lot of toyotas that get good mileage.

. >> does gm's exposure make it less attractive than ford? >> i think people have overdone the fallout. we saw luxury auto numbers come back. i think gm is very balanced in where they are going to profit. it is about europe and not losing more money there. i don't think gm will be that far off. >> i'm with ford. tim made an amazing case. i have been in ford for a while. i have owned it at these levels. i believe in the comeback story and believe i will see much higher in ford. >> what a sincere compliment. i agree with him whole heartedly. >> i like comens engine which we were sitting here and they preannounced. the stock is maybe a buck lower than that. it tells me that the bar is low. they are going to be reporting earnings in i think two weeks. they have said things aren't great out there. we are seeing slow down world wide. however the stock is cheap. the balance sheet is in pristine condition. the multiple here well south of ten is good to own. it's going to be a little rocky. last time they preannounced. >> huge buying opportunity. >> i