he smiled as he passed a portrait of henry ford. curious employees walk by wondering who this guy was posing with bill ford. when they were done the group heard into the executive elevator and wrote it up to the 12th floor. mulally followed for into his office which occupied the northeast corner. he pointed to mulally's own office just a few steps away. the two suites were separated only by a waiting. i'll be ready when you need me, ford said. the company senior executives were cramped and bill ford's private conference room. the overseas chiefs were listening in on speakerphones. at 3:30 p.m. for an mulally walked in and the room fell silent. ford explained that he was resigning and introduce more out as ford's new chief executive. as he taught, all eyes were on mulally. he did his best to smile back and fight the growing intensity of their status. he had never felt so scrutinized. mulally thought about shouting who got been telling us is leading executives don't worry, it's going to be okay. but he restrained himself. mark fields i

>> yeah, i have no problem with mark zuckerberg getting rich, but compare that with henry ford or earlier entrepreneurs. they created great companies that in turn created a lot of great middle class jobs and built the middle class. here, we're seeing a great company and very few jobs and very few jobs for the middle class. i mean, the unemployment rate in silicon valley is higher than the national average. i mean, this is just not being spread around evenly. >> what about the idea though that andrew is talking about and that is the fact that you're seeing lots of start-up activity and it's a different kind of job creation, entrepreneurialism. >> but it's not a lot of jobs. >> this is not an assembly line, like the automaker henry ford. >> but it points to the fact that we have a lot of wealth at the very top and high unemployment and this is not some great symbol of, wow, america's economy is doing great because just the top 1% are doing great here and a lot of the companies -- those new companies -- i mean twitter has a valuation of $10 billion and 400 employees. i mean, come on, that's

20th century, automobile makers pledged allegiance to the mass-production system originated by henry fordhe main idea was to drive down the per-unit cost of production. and for decades, mass production delivered what american consumers wanted. newsreel narrator: the bold, massive grill of this mercury monterey station wagon. the bold, massive taillights of this roomy mercury monterey sedan. narrator: by the 1960s, north america's place atop the automobile manufacturing world seemed unassailable, but just around the bend waited an unimagined challenge. in the 1970s, sales of japanese cars in the north american market soared, american automaker's profits disappeared, and the red ink forced massive layoffs and plant closings. but a geographer's review of the auto industry's struggles reveals a surprising insight into the state of making cars in north america. in recent decades, global competition and the japanese auto manufacturers have had a tremendous impact on the industrial landscape of the american midwest. dr. james rubenstein is an economic geograer at mia unirsity in ohio. the pasten

he goes to the pacific, he initially works for henry ford on the b-24 in michigan and then becomes a technical representative for united aircraft in the pacific. after the war his reputation is rehabilitated, his commission's restored, and i think the interesting thing at that point is that he begins to become very contemplative. his interest in science and technology, which he's had his entire life, sort of gives way to a concern for the planet, spiritual values and spiritual development. and his entire life, i think, after that point really is devoted to these concerns. so i think, i think he's a very complicated person. i never tire of reading about him or thinking about him because he is so controversial and so important to the history of aviation. probably the most important figure in the history of aviation in the united states, i'd have to say, without a doubt. i think his he roarism is a matter of -- heroism is a matter of respect. i think the celebrity he has is often passed for heroism. i don't think it is particularly heroic. i think he certainly was courageous to fly the

he needs to study the entrepreneur henry ford who even back then realized that a strong and well-paid middle class was necessary to buy his product. that's just basic economics. my question to your guest is that all this lobbying's going on. facebook wants all this help from the government to promote itself. yet the owners, the ceos of the company are doing everything they possibly can to avoid paying taxes. they are extracting billions of dollars from the american public but now are renouncing their citizenships to avoid paying taxes. >> gautham nagesh. >> well, i assume the caller's referring to facebook co-founder eduardo saverin who is a brazilian naturalized citizen who decided to renounce his citizenship. he spoke in the "new york times" yesterday. he said that that decision was actually made last january. regardless, the impression has been by many people that he is doing this to avoid paying taxes after facebook goes public. he will actually have to pay capital gains taxes on his entire holdings. i've seen "the economist," which owns cq, estimated that to be as much as a half

one thousand you know from the oughts through the twenty's and thirty's in large part because henry ford's first car ran on alcohol and there were also several people who were making cars mate with a rant on diesel all of which was made from help not only that the paper manufacturers and the cotton folks were were you know having some rough times economically in the one nine hundred twenty s. and hemp was a major competitor for them so get rid of hemp get rid of pot you know it it gave it just it was competing with alcohol so it seemed like a good idea at least from businesses point of view back then it would be a good idea to decriminalize both. it's the good the bad of the very very pergola man honestly oddly the good they don't know the democratic candidate congressman sylvestre reyes in the texas democratic primary last night becoming the third outside challenger to beat in a comment this primary season congressman raised has been plagued by corruption scandals specifically over benefits his family we see from this political connections as received thousands of dollars in contributions

. >> eliot: henry ford, we learned in our history books said if i build cars and no one can afford to buy them, there would be no business model. he realized he had to pay his workers enough to meet the demand. it's the opportunity for jobs to be created and the world we're living in is-- >> it is. it's political and economic decisions we've made. it's essentially creating this death spiral of falling demand. the thing about complex systems, eliot, they're characterized by positive feedback loops and they're virtue of cycle or a death spiral. and we are in a death spiral of falling demand as the economy essentially all the money in the economy accumulates in the hands of the tiny minority of people. call it 1,000 times as much the median wage, but i don't buy 1,000 times as much stuff. my family owns three cars, not 3,000. i buy a few pairs of pants just like most american men. i can't make up for the falling demand of the tens of millions of million class americans who are out of work or even greater number who are under employed. they can't afford any new cars or meals out. that's t

. >> wasn't it henry ford that said he wanted his auto workers to be able to afford one of his cars? that was a reasonable conservative gentleman. >> and back in 1913 -- >> gene roberts, your thoughts about this battle. i'm not sure it's the same battle. i think there's always a battle in the democratic party, as there used to be in the republican party, between center right and right, and in the democratic party, between left and center left. but it also seems to be, there's a lousy -- i shouldn't say that, a noisy group of people who are in equity who are offended that their wealth is being questioned. and i thought cory booker spends a lot of time hanging around with those guys for future reasons. your thoughts, gene? political reasons. >> politicians in the new york metropolitan area, the greater new york area, like cory booker, get a lot of campaign contributions from wealthy financiers, including people in private equity. so it stands to reason they may have been nicer to those folks. you know, but this divide exists not only in the democratic party, chris. i think you saw it d

it seems like you have the philosophy of henry ford.workers enough so they could buy his ables. do i have that right? >> exactly. we call it middle out economics as opposed to this ridiculous notion of trickle down economics. the idea that if you pour money into rich people like an ingredient, jobs will squirt out of them like donuts. it hasn't happened and it won't happen. jobs are a consequence of a feedback loop of customers and businesses. when customers thrive, so do businesses. in that sense middle class customers are the drive creators. >> if people aren't making money, they aren't going to be spending it because they don't have it. >> right. >> you bring up an interesting point as far as the wealthy. we've seen a lot of outsourcing of jobs from a way from our american soil so the wealthy can get wealthier. what the remedy for that? >> i think global trade is a fine thing. we have to acknowledge that it comes with trade offs. obviously, globalization has worked well for the shareholders of walmart and the shareholders of apple an

henry ford harrison's tippecanoe and tyler, too.gn slogans" because when we come back we will try to make it more serious and we are going to talk about framing and framing campaigns and where president obama is right now today as he is about to take the stage in ohio in about an hour, and stay tuned for that as we talk about what will be the frame on this campai campaign. ts, you may be muddling through allergies. try zyrtec® liquid gels. nothing starts working faster than zyrtec® at relieving your allergy symptoms for 24 hours. zyrtec®. love the air. at relieving your allergy symptoms for 24 hours. easy label, right? but that label can lead to prejudice and discrimination, and we don't want to go there. so let's try to see people for who they really are. you can help create a more united states. the more you know. the teacher that comes to mind for me is my high school math teacher, dr. gilmore. i mean he could teach. he was there for us, even if we needed him in college. you could call him, you had his phone number. he was just f

wasn't it liberal henry ford who said he wanted his auto workers to be able to afford one it hen saidfford one of his cars? that was a reasonable conservative gentleman. your thoughts about this battle? >> i i'm not sure it's the same battle between center and right, and the left and center left. but it seems to be there is a lousy -- not lousy noisy group of people that are offended their wealth is being questioned. >> politicians in the new york area, like corey booker, get a lot of campaign contributions from wealthy financiers including people in private equity. so they are nicer to those folks. i think you saw it during the primaries. you saw the same sort of rift in the republican primary. when newt gingrich made a lot of hay out there, especially in my home state of south carolina, talking about bain capital and private equity, and talking about that form of what rick perry called vulture capitalism. >> he is on tomorrow night and we will raise that issue. populism in the republican party is there like when nixon could refer to the cloth coat republicans, they are there. he cli

. >> is there any thinking, with these 30 little henry fords, that we've got to crush detroit?was a company--it's pretty well known--tesla, for a long time believed that what would be their advantage is, they had no car people. no detroit people. "we're going to build a vehicle company exactly like we'd build a computer company. so it's--when you have your car repaired, it's going to be like going into your apple store. we'll give you a latte; you watch your car being repaired." these are real statements. so they've certainly found out you can't--you cannot build a car company without car people. >> there's sort of this feeling of--especially in silicon valley--that people in the automobile business aren't very smart. and then they get into it, and they find out, "holy mackerel. look at all this government regulation. look at what everything costs." and then once they're into it, they figure out, "hey, this isn't an easy business after all." and i think that's about the point where tesla is right now. >> but these start-ups out in california don't have the union problems, the h

and it's something that henry ford knew. when he was making -- when he was mass producing cars that the workers in his factory had to be able to afford to buy them to generate and keep that demand going. >> correct. correct. only consumer demand can animate hiring. although it's not quite true that economics textbooks reflect that idea because that idea is -- what's necessary in order to reach that conclusion is to understand that the economy is an ecosystem and subject to the same kinds of feedback loops that natural ecosystems are. once you understand that, it becomes transparentally obvious that this trickle down orthodox is a complete and bogus lie. and that the true job creation lies in animating consumer demand and the feedback loop that comes from it. >> i want to show one more piece of your speech. for two reasons. one, because it's been suppressed and we're exciting we have it. and the other, it beautifully puts this notion about consumer demand and how the rich absolutely cannot generate enough consumer demand. let

back on time with henry would ford wwofford who is eati lot tonight. [ man ] hmm. a lot can happen in two hundred thousand miles... are you guys okay? yeah. ♪ [ man ] i had a great time. thank you, it was really fun. ♪ [ crash ] i'm going to write down my number, but don't use it. [ laughing ] ♪ [ engine turns over ] [ male announcer ] the all-new subaru impreza®. experience love that lasts. ♪ >>> welcome back. nothing like home sweet home, but the way the giants are playing right now, they're in no rush to get back to the bay. the g-men are on a seven-game road trip and so far have avoided almost every of speed bump and pothole. let's go out to some action, ryan vogelsong on the mound taking on the marlins. bottom of two, scoreless. john kacarlos home run off voge soj, 1-0 home rung run,est mighted 434 feet. top of seven, melky cabrera, shoots it down the left field line, two score. giants win huge 14-7. >>> 49ers' defense put the rest of the league on notice last season, finishing fourth overall in yards allowed per game. veteran patrick willis and last season's

if you look back through history, from the rigwright brothers through thomas edison to henry ford, theat. you make a great point, jack. always worthwhile remembering that point, jack. >> i think so. >> see you tomorrow. thank you. >>> if you are tired of having to tow a boat every time you want to go fishing, you can ditch the boat and drive the car straight into the lake. coming up, the story of the sleek-looking car that allows you to do just that. [ woman ] my husband, hank, was always fun. never took life too seriously... till our son was born. that day, he bought life insurance. now there's no way i could send our boy to college without it. if there was one thing i could say to hank, it'd be "thank you." you're welcome. hey, hank. [ male announcer ] life insurance you can use while you're still living. you are one lucky lady. mm-hmm. [ male announcer ] learn more from your state farm agent today. is engineered for comfort. like parts that create your perfect temperature and humidity or the parts that purify the air. together these parts can cut your heating and cooling bills in ha

even henry ford knew he had to pay his competition five times what they were being paid so they coulduy the cars that they made. i think that is the president's appeal. the president cannot afford to go negative. gregg: his likability ratings. jenna: joe biden was out in new hampshire on the campaign trail and some say he not only managed to insult capitalism but every plumber in america and there are, what, 419,900 plumbers in america. take a listen to this. >> your job, your job as president is to promote the common good, that doesn't mean the private equity guys are bad guys, they are not. but that no more qualifies you to be president than being a plumber. it doesn't -- and by the way there are a lot of awful smart plumbers. gregg: only community organizers and career politicians need apply. >> exactly. our foyou're right, sentita the president does better when he has positive ads. that's why you've seen the obama k-pl pain pull ads in ohio, virginia, also in iowa and north carolina, bashing bain capital, and prescription is reality. and it seems to me that the perception is that

[laughter] you all reminded that famous story they tell about henry ford. he went to ireland in his first trip after he had begun the incredible wealth the man that he was, and he landed and the lord high mayor of dublin was there to greet him at all the dignitaries, and they walked him and got him to his hotel room. they said, by the way, we have this drive for a children's hospital that we're building, and we wondered if you might want to help. he sat down and wrote a check, if my memory is right, for $5,000, a great deal of money. they said thank you, and the next morning ford woke up in his hotel room, and the headline said henry ford contributes $500,000. the next thing he knew, there was a knock on the door by the lord mayor, and they said, we're so sorry, and we will print a retraction immediately. [laughter] and he said, so the story goes, coming in. come in. he sat down and wrote a check for whatever the remainder was, $495,000, and he said, on one condition, i want engraved on the portico whatever i want. they said, no problem. he said this is wha

i am michael professor of history at harvard and i willode serve as a moderatorthe henry ford second professor of the social sciences emeritus at harvard and expert on both japan and china he's visited asia every year since 1958. over his career he's offered or co-authored 50 books and many articles through academic and popular journals. the japanese edition of the book japan is no. what lessons for america is still the all-time best seller in japan of nonfiction by a western author. 1987 he began studying the transformation of china spending eight months at the invitation of the provincial government exploiting the economic and social progress of the province since he took the lead in pioneering economic reform in 1978. the result was his book one step ahead in china under a reform which appeared in 1989. the professor retired from teaching in 2000. i arrived at harvard in 2007 and i truly grateful for the mentoring and the encouragement and the friendship ezra has offered a junior colleague since his retirement but befriending junior colleagues hasn't been his main focus in the yea

that's what henry ford's idea was, pay your workers enough so they can buy your product.h, really great to have you guys back on in columbus. >> stephanie: come to sexy liberal, august 18th. sexy liberal. >> caller: i will be there. if romney gets his wish to amend the constitution so you have to have three years of business experience, i was sitting here thinking that would have eliminated dwight eisenhower from the presidency. >> stephanie: yeah. >> caller: when i was a kid -- i'm 52. clam howard taft was -- william howard taft was a career politician. that would have eliminated him from the white house. >> stephanie: right. >> caller: i'm just trying to figure out -- >> someone else said earlier ronald reagan. >> caller: ronald reagan, yes. an actor. >> then a career politician. >> caller: exactly. >> stephanie: we would still have herbert hoover and george w. bush. [ wah wah ] >> stephanie: how much better off would we be? >> this abstract that all business is good business. if you're going to accuse liberals and democrats of being super anti-business, then stop at th

which is we are the mass market for the world and henry ford understood back then that if you are going to mass produce, you have to have a mass market. we are the mass market, and right now the world is faltering because people in this country cannot afford to buy because so many people are underemployed or under combleement to have a tariff program so that if you charge 25% on the goods we import to you, the same tariff would fly to you when you import to us. >> first of all, the u.s. economy is in a recovery. guest: from that perspective in terms of manufacturing, the u.s. economy is 100%-plus for coverage. completely recovered in september. we're on a growth path. i think we're on a sustainable modest growth path to a little over 2% growth per year and reel out going i won't be fu week. we saw in december of 2007, until the first quarter of 204. it would be 2014 before the manufacturing is fully recovered. so i do believe we're on a sustained growth path. i think it's a relatively modest growth and if the recent manufacturing is growing faster, it's because right now the growth is i

it's a pleasure for me to introduce ezra vogel the henry ford second professor of the social sciences emeritus at harvard and expert on both japan and china he's visited asia every year since 1958. over his career he's offered or co-authored 50 books and many articles through academic and popular journals. the japanese edition of the book japan is no. what lessons for america is still the all-time best seller in japan of nonfiction by a western author. 1987 he began studying the transformation of china spending eight months at the invitation of the provincial government exploiting the economic and social progress of the province since he took the lead in pioneering economic reform in 1978. the result was his book one step ahead in china under a reform which appeared in 1989. the professor retired from teaching in 2000. i arrived at harvard in 2007 and i truly grateful for the mentoring and the encouragement and the friendship ezra has offered a junior colleague since his retirement but befriending junior colleagues hasn't been his main focus in the years since his retirement. rather h

but it is not the quintessential definition of the businessman american dream, the henry fords.guys all personally. >> i don't think that's true at all. >> i think it's true. >> if you're shortsighted and you take the money and run, then your clients will leave you. the reason bain capital is succeeding is because, you know -- >> they are all in it for five years. >> i don't know a whole lot about wall street and money and financing. i just don't. but i do know when i talk to democrats, independents, republicans, i say, tell me about bain capital. they all go, god, their record, it's pretty incredible. >> they are good at what they do. >> but i think what's important actually is that there really are two faces of what's called the venture capital or private equity or some of these activities. there is a normal side. you put in an investment, you build a business, sell it off, you make money. and that's selling the business side that joe was just talking about. there is an absolutely real other practice. and i'm not talking about bain. i'm talking about what we've seen in case in

it's a pleasure for me to introduce ezra vogel the henry ford second professor of the social sciences emeritus at harvard and expert on both japan and china he's visited asia every year since 1958. over his career he's offered or co-authored 50 books and many articles through academic and popular journals. the japanese edition of the book japan is no. what lessons for america is still the all-time best seller in japan of nonfiction by a western author. 1987 he began studying the transformation of china spending eight months at the invitation of the provincial government exploiting the economic and social progress of the province since he took the lead in pioneering economic reform in 1978. the result was his book one step ahead in china under a reform which appeared in 1989. the professor retired from teaching in 2000. i arrived at harvard in 2007 and i truly grateful for the mentoring and the encouragement and the friendship ezra has offered a junior colleague since his retirement but befriending junior colleagues hasn't been his main focus in the years since his retirement. rather h

it involves henry kissinger with who david worked at the ford white house, and i was hosting a lunch for dr. kissinger some time back, and i mentioned david's name. and dr. kissinger said in that sort of inimitable voice, david kennerly is the greatest photojournalist of the 20th century. i said, wow, that's high praise. he said i know this because david kennerly told me that david kennerly is the -- [ laughter ] so in the words of david kennerly and henry kissinger, let me welcome to the podium the greatest photojournalist of the 20th century, david kennerly. >> that's good. i don't know how to top that one. i'm going to show some pictures. i was president ford's photographer. it's great to be here with the bush women, barbara and laura, who i've photographed many times. i have -- i'm not taking away from my colleagues, but i did include one each of you in this presentation. i was -- i actually have a first lady picture i just took on friday, not in this country, and she's not an american, and if i press this, is this going to start? wow, magic. this is sophia bartelli, the first la

henry ford went to ireland in his first trip after he became a wealthy man he was. they got him to his hotel room and issa, by the way, we had a drive for children's hospital we are building and we wondered if you would want to help. he roared its it for $5,000. it was a great deal of money. the next morning he broke up in the hotel room and the headline said, he contributed $5,000. there was a knock on the door. he said, we're so sorry. we will print a retraction immediately. he said, come in. he said here is a lot of what engraves it. i came upon the, in the tub me in. [applause] all a woman has to do is come upon you and you will taker and let my daughter. you are an incredible group of people and women. i am is so proud. it is not hyperbole to say this. this was so proud to call the my friends. when i was a kid, these are the web and i have been involved with and everything is good having to do with my state. i know where you give your commitment from. not just your mom, your dad. she can tell the, have been involved since i came back after law school working un

henry road. the officers cheerleaders and the ravens mascot himself. things kick off at 3:00 near wetstone way and ford aver in locust point. if you hang out long enough, you should also be able to enjoy a free concert by the '80s band. >>> now, maryland's most powerful doppler radar and the forecast certified most accurate by weather rate. >>> all right, looking forward to this weekend. i think we're going to have great weather just about all weekend long. this evening. sunday afternoon and evening are one wildcard. bright blue skies. humidity low. dry and breezy. that has been the story all day. show you some beautiful postcard like stories. this new eastside camera because it does show the might i did key bridge. spanning over the outer harbor. looking good. at anapolis today, it was nothing but blue skies. naval aed cadmy all day long. a few high thin clouds but really nothing. and how about hage arers town. this is our standard definition camera there but you could see we have basically just a few passing high thin clouds. that is it. maryland's most powerful radar looking good. five sweeps. all c

ford deal. so he get to watch five blas sunol. >>marty: all the boy there and enjoyed seeing those things alone up. let's check in with henley. >>henryr systems are not drying up will come back antsy what we can do. >> ysabel: is 9:34 a.m.. or taking a look at the bay bridge. we is the teen some sunnis skies and seven sets the. john a. >> was the warmer conditions to margaret by mid we would see things were -- cool all that. right now today is sunny and much warmer than yesterday's tamara will be sunny skies and even warmer by midweek it will cool off. this a low eighties in the south bay today. nappers' '70s and '80s and in. but the sunshine for the shore. the mid-70s to alameda. this could be another beautiful beach day. the 70 degrees in the ocean beach. 72 degrees for powell tub. 83 and petaluma. but take a look at a 7 day around the bay for cats. that's going to continue until our work week up by midweek it will cool off a couple of days and and the it all began as going to be sunny and dry. >>henry: water is going to be one of the biggest problems in our nation and our world. there were looking at a film called waters said. it

henry kissinger was spotted getting a full patdown at security at new york's la guardia airport. transportation security administrators apparently didn't recognize kissinger, who worked under presidents nixon and gerald ford. kissinger also won a nobel peace prize for his efforts to end the war in vietnam. >>> the lone survivor of a terrifying boating ordeal is suing princess cruises. passengers saw the stranded boat and reported it to the crew. but the ship never stopped. >> reporter: this is what the passengers saw. a disabled fishing boat. a drift in the pacific ocean. the passengers were aboard the star princess, a massive cruise liner that came inside the boat. one of the passengers who spotted it, described what he was doing. >> could see him doing this. with his shirt. over and over and over. >> reporter: meredith and at least one other passenger, jeff gilligan, who took this photo, say they immediately notified a crewmember on the star princess cruise ship. they say that crewmember visually confirmed the distressed cruise ship on his own. but the cruise ship never stopped. >> while we were on the ship, the feeling of powerlessness because we would have liked to have somehow gone over there and res