that you go, wait a minute, if i get off the island and think in terms of the real world, you know, if gm's prices declined in half, they probably wouldn't be building new factories. i want to spend one more moment on prices because prices are the circulatory system of a real economy. and they're one of the things most misunderstood in health care, and it's a little wonky, but these things actually drive the way human beings receive service. one of the things we assume is that -- the question is how do we pay for health care? one of the arguments i'm making today is the how we pay drives the type of care we're getting. >> you can watch this and other programs online at booktv.org. >> here are some of the latest head ryanlines -- headlines surrounding the publishing industry the past week. a class action lawsuit has been filed against amazon and six other publishers, simon & schuster, random house, penguin, mcmillan and harpercollins. the booksellers filing the suit, fiction addiction of greenville, south carolina, bookhouse in albany, new york, and pozen books in the new york city, all clai

find out how he did it and if gm will fully recover. .p . . .. but thieves cal your identity and turn your life upside down. >> hi. >> hi. you know, i can save you 15% today if you open up a charge card account with us. >> you just read my mind. >> announcer: just one little piece of information and they can open bogus accounts, stealing your credit, your money and ruining your reputation. that's why you need lifelock to relentlessly protect what matters most... [beeping...] helping stop crooks before your identity is attacked. and now you can have the most comprehensive identity theft protection available today... lifelock ultimate. so for protection you just can't get anywhere else, get lifelock ultimate. >> i didn't know how serious identity theft was until i lost my credit and eventually i lost my home. >> announcer: credit monitoring is not enough, because it tells you after the fact, sometimes as much as 30 days later. with lifelock, as soon as our network spots a threat to your identity, you'll get a proactive risk alert, protecting you be

but from what see so far, it is definitely not on the right track. >> neil: if gm were to fall on hardwould we rescue it again? >> it doesn't make sense to rescue a company unless you're going to change its competitive position to redress its competitive weaknesses. we didn't do that in 2009. gm didn't go goh bankrupt -- go bankrupt anywhere other than in the united states. it has a terrible position in europe. it's going to be costly to fix europe. doesn't own the majority control of its operations in china, and when i take a hard look at the public numbers available, it certainly did not change its competitive position for the better. >> neil: thank you very much. good seeing you. >> thanks for having me. >> neil: very nice duds. but what the frock are you doing? don't cower to those senatey -- snooty designers when yo you wear the same outfit. eam will be our new senior social media strategists. any questions? since we make radiator valves wouldn't it be better if we just let fedex help us to expand to new markets? hmm gotta admit that's better than a few "likes." i don't have the d

health care where you go wait a minute, if i get off the island and think in terms of the real world, if gm'srices declined and have it probably wouldn't be increasing, building new factories. i want to spend one more moment on prices because -- one of the things most is understood in health, these things action guide the way human beings see service. one of the things we assume is that we pay for health care. the question is how we pay for health care. one of the argument i'm making today is to how we pay drives the type of care we are getting. at the centerpiece of government policy on health care is that medicare pays less for every service than private insurers do, and medicare pays even less. called cost-sharing on the island. cost shifting on the island, excuse me. it's almost impossible to compare these prices, so the data i have actually seven years old, a last really good study of a single service, and it's from michigan. at the time in michigan private insurance was paying just under $800 for an appendectomy. medicare was paying $676. medicaid was paying $335. sounds like a great de

has not reported so you have to look towards the middle of february and there is some unknowns in gm if you stack itds up against ford. valuation, lightly better, buford, you get that dividend. >> i have always liked ford over gm, but i think ford has dropped enough that you can move against that 60-day average. >> i think ford is a great buy point right now, when you talk about europe, the tail winds for ford is that they shut down two of their large plants in europes so i these we're going to see the up side. >> you also look at bmw, and ttm in india. >> is that the ticker symbol? >> just to joe's point, inches tugsal investors, we're stacking up ford versus gm, but toyota motors is up 5% to date. a lot of institutions are 2k3we9ing sick of the u.s. automakers and are going to toyota. >> i can see it in the monitors. >> and i'll -- hmc, honda motor corp, like that one again because of the yen. >> grasso, thank you. >> good day, guys. >> let's look at the biggest pops and drops. >> this is a quiet little $19 billion stock, no one seems to talk about much, earnings up 17% early this qua

wait a minute, if i get off of the island and think in terms of the real world, if gm's price declined they would not be increasing, building factories. i want to spend one more minute on prices because prices, the circulatory system of the economy. one of the things that are most interested -- misunderstood in health care. easing drives the way human beings receive service. one of the things we assume is we pay for health care. how do we pay for health care? one of the arguments i am making today is how we pay drives the type of care we are getting. >> you can watch this and other programs on line at booktv.org. >> these are books being published this week. the age of medicine:electric life at the age of modern america. in the terror courts, rough justice at guantanamo bay, just reagan, supreme court correspondent for the wall street journal reports on legal issues surrounding the prosecution of alleged terrorists by military commission. former boston globe reporters dick ware and gerard o'neil recount the life of infamous boston gangster and fbi informant. look for these titles in bo

gm down 21%. if you just think it was the americans cannot really. itive news is that soaring auto sales. toyota up 26%. for 22%, gm 16%. great to the great numbers for the u.s. automakers and a a very tough month. what some people see as a tough month, but i tell you, things have not slowed down. to return where we started back to stocks, if you bought of those stocks six months ago, a lot of people were pooh-poohed it. gm is up 43 percent over the past six months. ford up more than 40 percent, and to reassess and honda. on the stock's value should have bought them. cheryl: glad you're showing those numbers. just passed the block out of chicago. >> i like it. dennis: breaking news. these are live pictures from outside the presidential palace in cairo, egypt. 10,000 protesters to weigh in against the mohammad morrissey regime and the new non confidence and that has been approved. we have been monitoring these pictures and what appear to be flares and fireworks being shot off. we will keep following that and bring you any developments as they happen. c

than when i went in you want things to happen faster and faster but i feel comfortable if they would do just fine. at gm i saw how quickly things can change they never really got to observe that but when people get behind something to make it happen. so i came away knowing, more than i ever do when people put their mind to it. says the power of people it is not quite as bleak as people think in fact, he knows it is not quite as bleak. he knows the one sure thing is change it will be different in a few months or days and people are adaptable to keep the bureaucracy away, things can happen. he has changed a lot. >>host: are you a card by now? >>guest: not technically but i know a lot more now than i did and i notice on the road so from that standpoint. >>host: what you driving? >>guest: cp as the cadillac. i've of it. >>host: thank you ed whitacre "american turnaround" reinventing at&t and gm and the way we do business in the usa." >>guest: it has been my pleasure, stephanie. thank you very much. pleasure, stephanie. thank you very much.

so is it too late to jump into gm's driver seat if you will? mike, great to see you. to hear you. ng us on the telephone. welcome to you. i know you have a buy rating with a price target of $36. what will drive gm shares to that price? >> thank you for having me, first of all. you know i think with general motors i think 2012 was another transition year and 2011 was as well. that is good news. they got through it. made over a share. they generated positive cash. all the things you would look to have in place to take advantage of a recovering economy i think are in place. lori: but things are not the ifing better in europe, right? sales there were even worse than they were before. losses deepened in europe. >> no question, europe is a trouble spot. i don't think that is a surprise but to put it in perspective, europe is a manageable situation. about. in took two important steps in europe to mitigate the impact in 2012. they took inventory way down and wrote down the assets. both of those things, will at least help the performance aspect of it in 2013. lori: now some other analysts t

jim called down and ask you mind if we shared the facility? gm said no problem. that is what they did yesterday and i believe they will do that again today. brother helping brother as they head toward the biggest game careers up to this plight. kron4 news will have continuing coverage with the latest coming out of new orleans. check out our website at kron4 by, and our facebook feed and twitter. major deterrent and sunday after the game for post game coverage. it will begin at 7 and lasts until 9. now on to weather, good morning donna. >> good morning james this is a beautiful look from our roof camera. plenty of sunshine in dealing with some areas of fog that will burn off by the afternoon. former damage as compared the as today, clear skies and mild conditions into the evening as well. 34 santa rosa, up mid 30's now patna of vallejo, upper '40's for richmond low '40's in the south bay. >> pretty light traffic around the bay area, not looking at any hot spots. kenyan island accident in walnut creek interstate 680 in the northbound direction. it may garner some s

we'll keep an eye on gm shares and see if they want to move it along. >> so no stake at the moment, according to french government. meanwhile, the world's fastest main, usain bolt could be ready to end his uk competition boycott. under uk law, athletes competing in the country currently have to pay 50% tax, yes, on their appearance and up to 10% of their worldwide earnings following a legal victory. other sporting events, including the dhampon's league final and the olympics have also had amnesty written into their contract. if you ever wonder why your favorite athlete may not be showing up to your favorite british competition, maybe now you have an answer. >> he raced here for the olympics and i don't think he's raced here in the previous three years. >> because look, it's not just a one off winnings related to that event, but all of a sudden your annual earnings are subject to this tax? >> it's an annual appearance fee. >> it's a pretty big incentive for athletes to say, you know what? not worth it. >> we're asking do you think it's fair for athletes to be given special tax breaks? is usain

if you're out on the highway being the road warrior, then clean diesel is the step. so, from gm's perspective, it is all about providing that choice. take a hard look at what you're doing with your car - what kind of vehicle do you really need? - and then find the propulsion that meets that need. > all right, we have to run. good to have you both on the show today. > > thank you. > > thanks. coming up, stay with us as we connect with a trader's play in linkedin. andrew keene joins us now for chart talk to talk about linkedin. you are always looking for those parabolic stocks, and i think we found one. > > linkedin is quite amazing. they had earnings on friday. stock was off to the races. i like to use the at-the-money straddle to imply how much the option markets are implying the stock is going to move. the stock was trading around $124. i actually didn't have a position on it. i was trying to sell some bull put spreads i didn't get filled. that stock took off. it is implying a $10 move on earnings. stock took off and moved $27 to the upside. linkedin is in what i call "no man's l

i thought if i could help, i'd go do it. gm is part of the fabric of this country.d war ii and before. made many products. i had always had a gm car. i just thought i'd go see if i could help. >> brian: so this is what you walked into. the government walked in, said, we're not going to let the car companies go out of business on my watch, george bush, and president obama both said. combined, $49.5 billion in assistance, not a grant. so you have to go deal with that. how much has been repaid and how much is still owed? >> well, there was a loan and then there was an equity interest. we repaid the loan, i think it was 7 or $8 billion early in march. and then the ipo paid back part of it. i'm not sure exactly how much is left. about 20 billion or so. >> brian: now, you were able to -- you went to the government and said, i can get you out of this. then we could be our own entity. what did the government tell you? >> well, i thought the government could sell their entire stake at the ipo. they elected not to. why, i can't tell you. you'll have to ask them. but i know th

gm." >>> up next, we're "on the money." when a diamonds aren't the girl's best friend, one jeweler is if you're shopping for your valentine. vendura may have some answer. >>> you can find >>> welcome back. if you're still shopping for that perfect valentine's day gift, vendura might be able to help you out, within a few 50 avenue blocks with the names of tiffany, harry winston, the low-profile, semi private company has long been something of an american crown jeweler, making just a few pieces a year for some of the wealthiest of new york and hollywood, proving all that glitters is more than just gold. >> when the average american or anybody closes their eyes and says, think of jewelry, they think of big diamonds because it's about money. i mean, the biggest diamond has to do with how rich your husband is. >> or how rich you are. >> or how rich you are, yes. >> vendura, a jeweler with a reputation for style above price, housed in a manhattan salon, jewels dreamed up decades ago by sicilian duke fulco vendura. for the likes of rothchilds and royalty, are still available today thanks to father and son ward and nico landrigan.

gm bankruptcy. >> mark i'm struggling, if detroit declares bankruptcy, what would that be like, what would that do to the city of detroit? would it slowly crumble into nothing? >> it's hard to say. we're entering unchartered territory as you said at the top. this would be the largest municipal bankruptcy in u.s. history. and detroit, i moved back in 2009 to write a book about the city and it's already, the services have been cut to the bone as tom said, there's no tax base to speak of. the city can't provide adequate services, 40% of the street lights don't work, the murder rate is, the same number of murders took place in detroit as new york last year even though new york has 11 times the population. all of this kind of stuff is causing residents to leave the city, lots of residents to leave the city as quickly as they can. it's the downward death spiral moving in that direction for quite some time so it's not clear to me what an emergency manager can do. i mean again as tom said it's true, he or she will be able to crack open this union contracts of public employees, that's a big part of detroit

gm acousta has the details. >> president obama says if congress wants to stop the forced spending cutst goes into affect at the end of the week lawmakers better do something about it. >> the cuts do not have to happen. congress can turn them off any time with a little bit of compromise. >> and the spirit of compromise the white house's morning what is about to become a state-by-state level. >> 7400 fewerreceiving gassingsn florida. 52,000 defense workers furloughed in texas. >> the president as the press to leave a closed-door meeting with the governors to have a frank close the door open meeting session. >> i want to clear out the press so we can take some questions. >> candid is what the president is getting from louisiana's governor. >> i think the president is to stop trying to scare the american people that absolutely you could cut 3 percent without all of these awful consequences. >> homeland security secretary suggested the cuts could make the nation's borders to terrorist. >> i do not think we can maintain the same level of security at all places to run the country with a seque

gm, caterpillar all in negative territory. now of course, tyler, central stock story becomes einhorn. if you shift apple, arguably you could shift the market. though that hasn't been so true recently. >> you look at the fact that now some major barometers, of course negative for the month of february. with looming budget cuts coming in about ten days' time. well see how those affect us. great to see you as always, simon. that will do it for "power lunch." >> "street signs" begins right now. >> are you feel willing fed fear? have no fear. because we have your play book for what to do when the fed music finally stops. what gives with wal-mart? it is on the rise, even as earnings are guided down. we will dig in to the numberes. plus, google glasses. totally geek or totally chic? and jane, oil, wells, on what may be the biggest oil find that california has ever seen, mandy. >> brian wrs worst two-day stretch for s&p 500 in nearly two months as commodity prices are taken out back and given a beating. sab could have its losing streak. let's get right to the raiding floors and find out more. ri

especially if captain nemo, our current storm, moves it up ahead of thursday. general motors also comes on thursday. can china become gm's largest market? interesting question, right? can europe stop them in their tracks like it has? will the government soon be out of the stock? we got to get some caller on the stock because some people say this is incredibly cheap stock and others say it's played out. we get results from jarden, too. we've been extremely skeptical but let's say he keeps taking over yard after yard of the aisles in target with his indispensable gadgets. i go nowhere without my jimmy buffet margarita mix. i bet he delivers well. pepsico as well, has performed extremely well. i would use any weakness to roll into the stock. then there's waste management. lots of talk about how the company could do a real estate trust investment diversion. i expect we'll learn if they're going into the reit structure when they report. i'm listening also for hints of a bigger dividend. waste management is revered in the industry because of their use of natural gas trucks -- natural gas as a surface fuel. friday morning we he

gm said that kaepernick has been dashed exemplary. jim harbaugh said that kaepernick has been -- exemplary. and if you missed this, john harbaugh said that to lanthe practice field at -- tulane.. was too hard. and they will go to the entire thing the 49ers with no contact between both teams. but all things being said it was not a bad week. just enough nonsense for those unfortunate comments. randy moss said that he was better than jerry rice. >> keeping it interesting? >> gary: yes. and i will say it again. but what i saw from the family is that it is going to be a great game and the very great family. start your sunday with isabel and marty gonzales. the building will berg down and isabel will say i will have a package of my life later. but isabel will take you right of to the game in and watch the game. and to switch back to pam moore and i that there is a naked guy. >> pam: we will have more tonight from gary radnich and much more at 5:00 p.m., a commercial or against gave bullying is being pulled. some of the 49ers have some problems with it. and at 5:35 the san francisco and the baltimore mor

as you look at ford and gm, keep in mind it's not just these guys bringing connectivity further into the car. it's all automakers. ifd try to keep it as safe as possible, you've got it already with your phone. in fact, i've had a few people who have sent me tweets and e-mails today saying big deal. i've got a smart phone. i've already got it in my car. do you want people looking at their phone or coming through their car where it's hands free? voice activated? no easy answer here. >> is there anything they can do to mitigate the danger factor? how can they mitigate that technologically speaking? >> that's the tough thing. everybody is saying it's not the distracted driving of the eyes, it's the distracted mind. let's say you say boy i'd like to know where the nearest chinese restaurant is and you're going on the internet. even though it's voice activated, you're focused on that. you're not focused as much on driving. that's what scares critics. >> you up the penalties more like a drunk driving. they show you are just about as wobbly and distracted. you have to up the penalties if you're texting and driving and crash

if you can see them. they have a set up behind me. gm, as well, will have some news with at&t they will be able to bring viewers later in the day. when it comes to what happens with the next generation in the mobile world, it haas to do with finding these devices in your car, this in your fridge, in a number of city elements that are on display behind me. shortly, we'll be speaking, we'll get some better sense of what it means to have machines talking to one another. that's with ericsson, hans vesberg. we just spoke to him. but again, you might think the smartphone world has matured. not exactly. you get those devices talking to one another and you're talking about millions more in the next generation. >> machines talking to one another? that's just like another day on cnbc. >> exactly. >> we've got the machines talking here all the time. you get disruptive, they like people and things being disruptive. >> i'll do my best. maybe i'll run around here a little later and try to cause some disruption of my own. >> you are our own disrunive t

gm. thank you for that mistake. >> what's going on out there? >> ifyour cadillac, make sure the heat works. >> i've always wanted a cadillac. i'm going to wait a couple years. maybe i'll get one. >> got to be a certain age. >> very easily distracted. >> trying to take attention away from that perhaps. it wasn't your fault. trying to move along. >> what's happening with the weather? >> it's cold outside. cold and windy today. high temperatures in the upper 30s. should be a decent amount of sunshine. mix and clouds to start your day. good morning leonard town. 30 in quanaco. these are actual air temperatures. the winds are blowing here. 28 in gaithersburg. 28 in frederick. 30 in manassas. 29 in martinsburg. school delays well out to the west. more in the way of icing yesterday. cold temperatures out to the west. cumberland, good morning, 27. 23 in washington. 24 in annapolis. 32 in martinsburg. air temperatures in the upper 20s and low 30s. winds gusting to about 30. windchill temperatures. i don't get to use this map all the time. temperatures in the t

but the husband says we have to buy this car because someone at gm will lose their job if we don't. i think that family is more concerned about one of them losing their job. if we continue to use the logic that if we, if we restrain government at all, because you're going to lose jobs if you don't, then why don't we have everyone send in all their money? that is the counterpoint to that. that is something that rarely gets discussed. >> host: so you do not believe then that sequestration is bad thing and should, should it be reversed if it goes through, should the two sides come together and try to undo it? >> no, they should not. what the two sides should do is come together, i put a bill in the hopper last night, hr 816, that would allow transfer power to the agency heads. where sequestration went wrong is that the cuts go across every single line item in every agency's budget. so there is no ability, for let's say secretary of the agriculture to actually prioritize. you know what? this aspect what we're doing is very low priority. i might eliminate it so i can save wages here. and

if we could kill julianne druce. the picks sill costs 1299 for a wi-fi only version. and 1499 for its wireless technology version. >>> gmgeneral motors, spending $7.3 billion to expand in south korea over the next five years. the auto giant plans to boost manufacturing facilities and double the size of its design centers. >> the european commission warning the eurozone will not return to growth until next year, reversing a prediction to the end of recession this year. the e.u. is blaming bank lending and high unemployment for delay in. >>> toyota has the minivan at the geneva minivan. the ecosports suv is being built for european markets. >>> smithfield packing is recalling pork sausage in 11 states. the products may contain a small piece of plastic that is today's speed read. [buzzer] sandra: time to share. shares of hp skyrocketing following better-than-expected earnings after the bell yesterday. even though hp beat on earnings, revenue did fall in all of its main business divisions, dave. david: the one bright spot, the company's enterprise group networking decision saw revenue increase by 6%. will the enterprise new

are talking about 25 people at the company's left, aig, gm, and gmac which financed cars and did some prime mortgages -- the floor is $1 million. if work for one of those companies and are one of the top 25 employees, treasury awarded $1 million. if you work at aig, the floor is $2 million. most got well above that. more than half of these executives the treasury approved were $3 million or more. 16 got $5 million or more. the pay adds up to $100 million. you also have to look at cash salaries which went through the roof. all of a sudden, instead of having cash salaries rarely be over $500,000, 70% of these employees got treasury-approved cash salaries of $500,000 or more we want to look just below that and sure enough, in cash, a yearly salary, 94% got approved by treasury. on top of that, pay raises and removing the long term pay that was ties to meaningful performance measures. host: talking about a retort report aboutsigtarp. your report comes out and what happens? the front page of this report says treasury is still approving excessive pay, what next? guest: 1 change so we made a series of recommendations and said treasury pu

if you see any couples who are head to the altar. and we are talking about companies here. >> not just peugeot and gm in europe. >> is that your proposal there? >> no. that was one of the potential marriages we were talking about yesterday. >> that's right. >> european owners in persia, should they be entering some kind of relationship? >> and amr and asia are determining their relationship. >>> still to come, there's ongoing weakness across europe. we'll take a look at the good, the bad and the ugly. >>> plus, could spain really become the next germany? we'll ask about that and why they're predicting a bold reversal of fortune. >>> the euro takes a hit. >> japan's recession drags on as gdp shrinks for a third straight quarter. >> nestle shares fall after the food giant warns this year will be as challenging as 2012 after sales grow less than expected in the fourth quarter. >> europe is depressed. you have two commissions in europe. part of europe is really hard hit and it's going to take longer. >>> and a tie-up on valentine's d day, amr and us airways sign off the on the world's biggest deal to become one airline. >>> so the german e

are talking about 25 people at the company's left, aig, gm, and gmac which financed cars and did some prime mortgages -- the floor is $1 million. if you work for one of those companies and are one of the top 25 employees, treasury awarded $1 million. if you work at aig, the floor is $2 million. most got well above that. more than half of these executives the treasury approved were $3 million or more. 16 got $5 million or more. the pay adds up to $100 million. you also have to look at cash salaries which went through the roof. all of a sudden, instead of having cash salaries rarely be over $500,000, 70% of these employees got treasury-approved cash salaries of $500,000 or more we want to look just below that and sure enough, in cash, a yearly salary, 94% got approved by treasury. on top of that, pay raises and removing the long term pay that was ties to meaningful performance measures. host: talking about a report aboutsigtarp. your report comes out and what happens? the front page of this report says treasury is still approving excessive pay, what next? guest: 1 change so we made a series of recommendations and said treasury put i

gm and ford. but, you know, i don't know how long if it slows back down again maybe really hard to get the engineage? i mean, have you been surprised by the reactions? >> no, i'm not surprised at anything. you know the one thing about getting in to senior status of life, like i am, you, you don't, you don't really care. you just say what you say, and you can get away with it. >> that's right. he said it's okay with him. i asked him if he would shy away from making messages like this in the future from saying anything. he said absolutely not. it just makes him feel like it's more important to really start talking about some of these things. in fact, off camera, he actually told me what gave him the inspiration with that empty chair speech. he said that he had been standing at his hotel getting ready for the republican national convention and he heard this song -- "i am, i said" by neil diamond. these are the lyrics. ♪ and no one heard at all not even the chair ♪ >> so that's where he heard this. he was standing right there waiting as they went on beforehand and he saw a chair sitting there and he

gm c pickup. the driver of the ford truck has life-threatening injuries. the driver of the mini van has serious injuries. it is not known if or speed played a role in the crash. >>> another shakeup this morning in the baltimore police department. just after a training instructor shot a trainee in the head. now the police academy director appointed weeks ago says that he is leaving the force. that a time, there is good news in the case. mary bubala reports on the improving condition of the wounded trainee. >> reporter: ten days ago a university of maryland police trainee was rushed to a state police helicopter suffering a gun shot wound to the head. he immediately want into surgery. >> he is stable, but any, um -- thoughts or predictions about long-term neurologic outcome at this point are way, way, way too early. >> the recruit was shot by his training officer, who mistook his service woman for -- weapon for a training weapon. now, less than two weeks later sources tell wjz eyewitness news, that trainee is talking a little bit and even able to recognize people. police commissioner bats has visited his bedside. >> the docto

gm financed cars and also did the subprime mortgages. so let's talk about the numbers. basically it is a million dollars. if you work for of those companies and you are one of the top 25 employees the treasury awarded $1 million. if you worked at aig it is $2 million. but that is really the floor. so, most got well above that. more than half of these executives of the treasury approved pay for $3 million or more. 16 dhaka $5 million or more. the pay adds up to $100 million. above $100 million. then you have to look at the cash salaries, which went through the roof. so all of a sudden they would rarely be over 500,000. 70% of the employees got treasury approved cash salaries of 500,000 or more. sure enough when you look at the cut off line for under $50,000 in cash. the pay raises removal long-term pay that was tied to meeting some sort of performance measures. >> host: ms. romero talking about the report from sigtarp, special general for the troubled assets relief program. here's a special excerpt from that pay package worth $3 million or more, with 54% of the 69 top 25 employees with 16 pay packages worth

i just know if you get into one of our cars, you will like what you see. >> that was a 2009 commercial featuring then gmoubled auto maker. here with us now, ed is out with a new book, american turn around, reinventing at&t and gm and the way we do business in the usa. great to have you on the show. great for coming in. >> the first question is why in the world would a smart guy like you jump on to the titanic when it was sinking and how did it turn around? you came on board gm at a difficult time. >> it was not in my mind to be doing that and i got a call from treasury. the treasury department that said would you consider becoming chairman of gm? i said no. i will not do that. i got a call the next day that said look, you are the perfect choice. you worked at a big company and in a unionized company and maybe you have knowledge of management and organizations. this is a great public service. i thought about it and said yes. >> you go up there for the right reasons and when you got to detroit, you go inside of gm. what concern made you say this has been the problem culturally for sometime? >> i walked in

gm will come out later this year. and also chrysler who really shunned leasing a few years ago, when everything, the financial meltdown happened, they're getting into in a big way. if't able to finance a chrysler, dodge or jeep in the past, now you can. ashley: talking of leasing. i was looking at some deals. the hyundai sonata, zero down, 245 a month. what is more popular, leasing or buying? you're buying new, 20% value drop the moment you drive of the lot. >> yeah. right now leasing's, it is a little under a quarter of the market. the majority of people finance or paying in cash. not too much cash buyers. people take advantage of low interest rate loans out there. they're choosing to finance. if you're getting 0% or 1.9%. that is pretty good deal. ashley: what does it say about the psyche of the consumer right now? economy is not not exactly on fire. the jobless rate is pretty high but seems consumers are coming back to the auto market? >> the auto market persevered despite what other economic news is out there. people need a lot of cars. people, someone buying a new car is almost six years. think about someone trading a car six years old, the technology in cars

if he can find a good property. he'll absorb whatever ream yumm he's paid over time and it will be a good day. >> and he was upping his stakes in directv, american express and is gm, interestingly enough. gm has got a -- they've got a european division that has its issues, but that's an interesting idea, keep loading up on that. it is still a very small position i understand. but clearly that could be the precursors. clearly, the automobile industry in the u.s. has come back strongly. there is a long way to go in terms of the replacement cycle here given the age of the fleet. so the prospects for the gm, at least in the u.s., pretty good. maybe asia pretty good. europe will be a little bit of a drag as you pointed out. but i think over time, gm ask the rest of the auto industry has been nurtured back to a pretty good level of health. so he obviously sees value there. >> david, good to see you. thanks very much to you for joining us. hope you have a good day and a good weekend, whenever that starts. earlier we've been asking what other food portfolios should buy. it was just tweeted that berkshire should buy burger king so buffett can have burgers for his new hein

you can argue if you are a smart shooter anybody can change a magazine in the second and a half of that is your intent a problem with the larger magazines is they tend to gm. going back to the harcourt, the heller court i think would have argued in new york losses unconstitutional saying i am not confiscating just making them worthless but those magazines were the original equipment on the firearms, there was talk yesterday of the underground drug magazine which the shooters use because the magazine is just the spring and the more you put in the less likely it is to work, under heller, i have never seen one except 22-caliber come of it all worked very well either, and it is not very widely own door use. someone says you cannot have a 100 round magazine they would say go ahead but they get into a problem. anything at some point* the question is when you are passing laws that impinge on fundamental constitutional rights, the question is twofold, how seriously the date infringe and is there a benefit? the first amendment is similar it is not just in constitutional to say you can say anything but also to put an unreasonable burden. i know i am sort of talking

a lot of things in health care, if i get off of the island and think in terms of the real world, if gm's price declines they would not be increasing, they would be building factories. i want to spend one more moment on prices because prices are the circulatory system of the economy and one of the things most and best misunderstood about health care. these things that actually drive the way human beings receive service. one of the things we assume is that we pay for health care. how do we pay for health care? one of the arguments i am making today is how we pay drive the type of care we're getting. >> you can watch this and other programs online at booktv.org. >> psychologist heidi squier kraft joined the navy in 1996. she was deployed to iraq in 2004 with her twin son and our xvi month-old. mrs. kraft discusses her experience now from the savannah book festival. [inaudible conversations] [inaudible conversations] [inaudible conversations] >> okay. are we on? great. welcome, everybody. good morning. this is the sixth annual said than a book festival. my name is linda schirmer horn. there