daiss a bill for it on the along with jim hackett >>. >>good morning and thank you for taking a question, congratulations jim. a lot of what you are talking up out seems like an acceleration of an existing strategy with some tweaks and changes. a lot of it seems like softer targets. as you look at the development and implementation of your strategy, what kind of metrics will you use to measure your success? you guys up and putting up pretty good earnings and cash flow. the that continue to be standard financial metric or how will you gauge the prod -- the progress of your strategy. the second question is, is there any change in capital structure either increasing dividends, buybacks or anything like that? >> on the first question and thank you for your comments, ford's ability to track where it thend understand that heartbeat of the company is what they have a mastery of. that's the process to watch where we are. i want to help impact where we are going. that is news that you will hear about. i agree with you that if we are in a rising ti

he's being replaced by jim hackette. jim hackette, formerly the ceo of steelcase, board member at ford for a number of years and then took over the smart mobility business about a year, maybe a year and two months ago, and he now will be at the headquarters and we heard from him just within the last hour, saying look, we need to move faster, we need to make our decisions more unified as a company and as part of that, we are going to be talking with bill ford about what happens next for ford and about this decision, how quickly they decided the ford board decided because there's already reporting out there they have been mulling this over for some time as far as making a change. >> phil, we just heard from robert frank about the ford family and obvious frustrations over the stock price. is the read this morning that this move is to patch up that stock, or to truly graduate the company into a new era of mobility? >> the read is that it's a combination of factors. there's no doubt that the lagging stock price played a role

jim hackett. jim hackett was at the university of michigan, led that institute.elevated to the top job at ford. and really what he has to do is articulate a vision for ford when it comes to telling investors, telling wall street, how it is going to be profitable in the future where it goes well beyond building the f-series. and suvs and how these autonomous drive vehicles that the company is working on and how the smart systems will filter down to the line. again, mark fields out as ceo of ford motor company. jim hackett one-time ceo of steelcase and a former member of the ford board of directors will be replacing him as ceo. >> phil, just looking at the story, suggesting that mr. farley head of europe release in after can will be assuming a bigger role. >> correct. >> we spoke earlier the fact that the new ceo is the head of ultimately the technology department -- i forget the name of the department? >> the smart mobility. sure. >> separately, mr. farley getting a promotion. does that mean a larger reinvestment in the europe business because they've been pulling

. >> the new ceo is jim hackett, 62 years old. while his time at ford as a director and most recently running the company's mobility division have been limited, hackett has seen enough to know the automaker needs a fresh approach. one that echoes the winning formula of former ceo allen mullally. >> he did a special thing to get the company to be a community again, with this structure that he created. it worked really well. in fact, we're going to use parts of it in the way that we monitor our success. >> ford is not a lost cause. it's still on track for one of its most profitable years later. tesla and waymo are developing technologies like self-driving cars. the biggest challenge facing jim hackett will be changing the culture of a company more than 100 years old. >> he needs to hit the ground running and be that person that makes you want to come to work in the morning. that's really hard to do when you're dealing with a company as old and entrenched potentially as dearborn has shown itself to be. >> the initial reaction of wall

>> well, you know, jim hackett is a very, very good guy.eelcase and he's been leading this smart mobility program. he's not a guy who is undermining mark. in fact he was mark fields' ambassador to silicon valley. you know, you don't find many examples where somebody comes in off the board to turn over and run a major unit. i think the last one i could think of was jack welch getting silas kath cart of illinois tool. in this case he got a guy who stepped off the board hackette to run their new division and now hackett is put in charge of the whole operation. it's quite a bit. i think he's not known as being a big external communicator. mark was so gilded and gifted at that. i think it's going to be a bit of a stretch. and they're retooling their marketing operation the same time, and of course there are ripple effects in terms of who's in charge of what for operations with farley taking over marketing which i don't know how strong a move that will be. hopefully it will work out pretty well, and i, i, i, i just think that this is -- you look

hackett, whoby jim has been leading the company's move to self driving cars. westin joins us with consecutive chairman bill ford. david: we are with bill ford. read i just you coul forget you and your new ceo of the news conference and the words i heard from you time and --in our focus and speak at focus and speed. tell us what you need to focus on and what you need to get to faster. what we need to focus on is our mission going forward. we are in a time of unprecedented change that offers amazing opportunities, but we have to be very select the, we have to be -- very selective, we have to be clear about where we are going to play and how we are going to win, and we have to articulate that not only to our employees, but the investing world. that is the focus. we live in a world where the clock speed is increased dramatically. inthat wempetitors haven't seen before. need to get ourselves into fighting shape very, very quickly. said positive things about mark fields, the outgoing ceo, but it must be some change you want that you didn't see happening before it is

julia: what about jim hackett here?kground and why ford believes he is the guy who can shake things up and turn things around. he's painted as pretty ruthless. when he worked for steelcase think, i believe he made 32% of the staff redundant in a four-year period. is this what ford needs, someone pretty ruthless? >> they did already announced cuts to the salaried staff of about 10% just last week. ford did a lot of downsizing during the last recession. sure that is the thing that is called for at this moment. it seems they need to charge this new path for how they are going to make money on the mobility services, robot taxis, and how they will fund the development of those products today by making billions off suvs. scarlet: speaking of the future, it is hard to resist the temptation to compare forward to companies like -- ford to companies like tesla and uber. when tesla flashes billions of dollars on electric vehicles, investors applaud. similar, thes market frets about a lower profits. -- about lower profits. julia an

that's job one for jim hackett.orsxplain and employees what their plan is for the future and what their plan is for the present because they are chasing general motors. g.m. is doing much better because they're making more s.u.v.'s and on pickup trucks and ford has to find a solution to that in the near and they have to find a long-term solution and bill ford thats hackett can do because he is a big thinker but said. problem-solver, he joe: obviously ford stock has languished but it's not like g.m. has done all that great. it still hasn't recovered since its 2013 peak. the state of the industry overall. sales have been really good, perhaps up until the last few have sputtered a little bit. is there an industrywide anxiety now? keith: there is and it affects automakers more than tesla, for example. but after seven years of growth and record sales, u.s. auto sales are turning down this year. collapsing. they're expected to be around $17 million, at the high end of normal. means profits are going to go down, revenues w

if you give him the heave-ho -- i bet you hackett -- when i saw that jim hackett was put, anadarko --rong hackett. i like jim hackett from anadarko, he's very good. but steelcase, he must have been friends of the family because if you look at the share price of steelcase that thing has been about as animated as a real bite. steelcase cabinet. you know? like maybe they should have picked somebody from herman miller. herman miller, that is a good chair. >> very interesting the board made a decision to move in this direction based on the underperformance of the stock and it does, again, i think beg that question. if other boards are starting to look at three year performance -- >> wow. was someone knocking on the door? >> when the industry is coming off the best time ever, it will -- i don't know. we can think of names i'm sure that have longer underperformance. much more significance based on a longer history of poor decisions where perhaps the ceo deserves to go. there's plenty i can come up with. >> when you get the president over to saudi arabia, you get some big orders from boeing a

taking over in the corner a guy by the name of jim hackett, head of the company's smart mobility areaeff flock joins us with the latest, jeff. reporter: winds of change blowing through the auto industry as well as my hair. jim hackett, maybe you don't know who he is, but if you have been following office supply or office furniture industry you might know who he is. he was ceo of steelcase. turned that company around. was on the ford board for three years. for the last year ran the ford mobility unit that is the future, says ford. the past, the history is mark fields. he spent half of his life at ford. 56 years old. he spent 28 years there, last three as the ceo. had pretty good success in course of his run in my opinion. cars sold, all-time record, up to, since the recession. profit, 4 1/2 billion dollars last year. that was pretty good and a record since the recession. relaunched the f-150 successfully but the stock in the tank, down 37% over the course of his run. lost the confidence of the board, bill ford said. he introduced the new ceo today, jim hackett. >> the biggest challenge

and that's the last thing that jim hackett has to do. he has to develop future technology from autonomous drive vehicles to monetized data in these weeks. i had a chance to talk to him about the perception that the smart mobility unit before he became ceo, just not moving fast enough. here's what he had to say. >> i understand that pressure. i understand that anytime you're describing the future as ambiguous until you can prove it, the way we're going to win the hearts and minds of everybody is have great ideas of work. and ford has put a decade into the av development. it's really coming along. and when we're ready to talk about it, we're going to be really clear about it. >> it is the communication of what ford is working on that is key here. and that's why we're showing you this chart of tesla and ford. i've had a lot of people e-mail me and say, tesla is not that far ahead of ford in terms of ford autonomous drive vehicles. with investors, it is farther ahead than ford. you can make arguments here that ford is working hard. but the b

jim hackett is in. good morning. welcome to "bloomberg daybreak." i'm jonathan ferro. this monday morning, futures stable. marginally positive looking at the doubt and -- the dow and s&p 500. triesllor angela merkel to explain why there is a trading surplus in europe, and saying the euro is too weak. you cannot make sense of the sometimes. crude comfortable at $50.8 0. another $350 billion honest in hardware deals rummaged in the next three years. wilbur ross had high praise for the deals that got done. >> i cannot imagine another business day as good for the united states and the kingdom. kevin cirilli joins us now from jerusalem. let's talk about those deals. energy, andilitary, infrastructure deals done. how important are these for the president at this point? kevin: very important. coming on the heels of the administration raising questions about the potential collusion for russia. i asked secretary ross of whether or not these investigations would cloud over the trip, and he believed they would not

vonnie: fort replacing the ceo mark fields with jim hackett who has been running ford's spark -- smartility unit since last year. >> there has definitely been pressure at fort because stocks have fallen so much during mark fields' tenure and it was last week that bill ford was defending the company to the shareholders, but he never mentioned mark fields i name. it kind of look like there was going to be some kind of shakeup at order, but it was kind of surprised that mark fields did get pushed out and replaced by jim hackett. >> i have never seen such a time in our industry where technology and competitors and everything is converting to drive real change. it is very helpful at a time like that to have a leader who is very experienced in driving transformational change and fortunately we have that in jim hackett. david: is this a matter of electrical vehicles question mark it is perceived that you are behind some people in the industry. >> it is about ev's and it is about av's, autonomous vehicles and making sure we are investing in the parts of the car and truck business that we get g

reporter: jim hackett billed as a visionary of sorts, liz. he is six years older than mark fields. s is 5. 6. spent half his life at ford. rescuing that big blue oval, taking it out of hock. if you look at the competitors for the auto industry right now, it is not conventional competitors, it is apples, googles, as well as tesla. during mark fields 'rein, their stock up, ford is down. if you're mark fields you have to say what is this all about? 2 1/2 million vehicles. tesla sold 76,000 vehicles. if you look at, ford made $4.5 billion last year. tesla loss $773 million f you look at market cap though, because of the share price, tesla now dwarfing ford. ultimately, liz, i think that was kind of it, you know the board kind of lost faith in mark fields. they like jim hackett because he used to be on the gm board so people knew him pretty well. you may also know he was interim athletic district tore at university of michigan, who hired jim harbaugh as the football coach. in addition to being the ceo of steelcase. he did a great job there. bill ford says this guy is visionary. they love

jim hackett, how he has to articulate more.le ford made big investments out in the silicon valley, when you talk with people out there, and when you talk with analysts, you talk with people in the auto industry, ford is generally considered to be a laggard relative to others when it comes to developing systems. doesn't mean it's not turning around, doesn't mean jim hackett can't catapult into a leadership position, but the clarity has to be this is where they are starting right now, from a position of trailing, not leading in the area. >> can they do that, walter? make acquisitions to get -- to bring the innovation in the house here? what do you think? >> well, that was the question i was about to ask. i really do think they need acquisitions. you saw that in the other auto companies making partnerships and deals, whether it's lyft or whether it's autonomous vehicle technology. i think ford, good thing is, so sort of secure, very straightforward, kind of easy, and i think they need somebody who is comfortable in silicon valley.

there is a surprise shakeup, what the new ceo jim hackett brings the table.is bloomberg. ♪ i've spent my life planting a size-six, non-slip shoe into that door. on this side, i want my customers to relax and enjoy themselves. but these days it's phones before forks. they want wifi out here. but behind that door, i need a private connection for my business. wifi pro from comcast business. public wifi for your customers. private wifi for your business. strong and secure. good for a door. and a network. comcast business. built for security. built for business. emily: welcome back to "the best of bloomberg technology," i'm emily chang. the digital revolution is transforming the world of work, with the latest technological advances placing some jobs on the chopping block. with that in mind, the think tank new america released the futurethat outlines four workplace scenarios that could play out in the next 10 to 20 years. we caught up with the president and ceo of new america and former director of policy planning under then secretary of state hillary clinton. i st

what new ford ceo jim hackett brings the table.is bloomberg. ♪ ♪ emily: welcome back to "the best of bloomberg technology." i'm emily chang. the digital revolution is transforming the world of work with the latest technological advances placing some jobs on the chopping block. with that in mind, the think tank new america released the commission on workers and technology. the report outlines four future workplace scenarios that could play out in the next 10 to 20 years. we caught up with the president and ceo of new america and former director of policy planning under then secretary of state hillary clinton. i started out by asking about workforce trends she expects to continue. >> i think we know some things are given. we know there will be some amount of automation. we just don't know how much. we also know that there is a shift going on from jobs to tasks, like in the gig economy, we just don't know how much. our scenarios run through different combinations of jobs, more or fewer jobs, and whether that will be more jobs are more

what new ford ceo jim hackett brings the table. bloomberg. ♪ so we need tablets installed... with the menu app ready to roll. in 12 weeks. yeah. ♪ ♪ the world of fast food is being changed by faster networks. ♪ ♪ data, applications, customer experience. ♪ ♪ which is why comcast business delivers consistent network performance and speed across all your locations. fast connections everywhere. that's how you outmaneuver. so new touch screens... and biometrics. in 574 branches. all done by... yesterday. ♪ ♪ banks aren't just undergoing a face lift. they're undergoing a transformation. a data fueled, security driven shift in applications and customer experience. which is why comcast business delivers consistent network performance and speed across all your locations. hello, mr. deets. every branch running like headquarters. that's how you outmaneuver. ♪ emily: welcome back to "the best of bloomberg technology," i'm emily chang. the digital revolution is transforming the world of work, with the latest technological advances placing some

jim hackett takes over as ceo. what kind of experience does he have?e was on the ford board of directors but really most of his executive correct for many years although we should point out that he left the ford board to take over the company's autonomous vehicle development program, in charge of smart mobility overseeing the entire division and as part of that he realize s that ford needs to mae quicker decisions. earlier today when he was talking to reporters how familiar he is with how slow ford is when it comes to making decisions in a rapidly changing industry. >> both of us feel like over years, what happens in big corporations the bureaucracy and the hierarchy is probably overwhelm overwhelmed. what can be faster decision making. >> reporter: at a minimum he'll have to make ford move as fast as its competitors in detroit and we're talking about general motors and fiat chrysler which have both outperformed ford in the last year. take a look at shares of these stocks. one thing to keep in mind with jim hackett, everyone is saying he is a change ag

the new chief will be jim hackett. who has led the movement for self driving cars and ridesharing. under fields shares have fallen more than 30%. your bloomberg business flash. tom: thank you so much. it is a great honor to bring you he not been on the ford motor company. he makes it clear that mr. fields is out. 20 years ago he wrote the definitive story on the death of the american car. forlarge a failure is this ford? fields did like mark not turn out to be the right horse to ride. they are changing courses quickly over to jim hackett who had been waiting up this new mobility effort. tom: ford is the one company that did not go bankrupt. they take great pride in that. what is the linkage here between one and mr.f ford allen? when turned them around companies were going bankrupt. at the time gas was four dollars a gallon. they were big on small cars and fuel-efficient engines. here we are now with low gas prices and suvs are selling. they are out of sync with the market. taylor: -- tom: when i noticed in 24 months, c

in comes jim hackett. the stock fell 35% since mr.k the helm weighed by a ton of debt. >>> sears closing another 30 stores. that ised in ages did to the 150 they have announced will be closed. that announcement came at beginning of the year. straight down for sears at $7 a share. >>> back to the president's trip to the mid-east. one theme, religion uniting against terror. listen to this. >> there is still much work to be done. that means honestly con fonting the crisis of islamic extremism and islammists and islamic terror and we are having a very profound effect if you look what happened recently. and it means standing together against the murder of innocent muslims, the oppression of women, persecution of jews and the slaughter of christians. stuart: isn't it nice to see an american president say the slaughter of christians, accepting what is truly going on in this world. special guest joining us now. the author of, they're your kids, sam sorbo with husband kevin sorbo. lady and gentleman welcome to the program. we concentrated on t

. >> when we come back, mark field is out and jim hackett is in at ford. what are insiders saying?ob lutz will weigh in. we speak to an early investor in companies like netflix, air b&b, and netflix and go daddy on the state of tech. >>> call it the last waltz. walt mossberg is hanging up his gloves and will give us highlights on his long and storied career. back in a moment. (shouting) more power tools. more power suits. (shouting) more power... chords. with customized loyalty programs and data-driven insights, synchrony financial can help bring more... power to your business. >> the congressional budget office and wall street economists think the next decade will be more of the same. >> we reject that pessimism and say we should have gone in and assumed 3.5 to 4% growth that. would be aggressive. >> if we don't bring >>> we are following the ceo shake-up at ford. joining us now, bob lutz, who also held senior leadership positions at ford and bmw. great to see you. i would love to get your take on this ford ceo transition. it seemed a few months ago, we were talking about north am

kind of shakeup at ford, but it was a surprise that mark fields did get pushed out and replaced by jim hackett i have never seen such a time in our industry where technology and competitors and everything is converging to drive real change. it is very helpful at a time like that to have a leader who is very experienced in driving transformational change, and fortunately, we have that in jim hackett. david: is this a matter of electrical vehicles? it is perceived that you are behind some people in the industry. >> yes, it is about ev's and it is about av's, autonomous vehicles. and it is also about making sure we are investing in the parts of our current truck business that we get good returns, and we are not investing in parts of our business where we are not getting good returns. so, it is really about capital allocation as well. >> 22 people have been confirmed dead with around 50 injured at a blast in the u.k. in manchester. it happened just as a pop concert by ariana grande was wrapping up. police confirmed they are treating the explosion as a terrorist incident, which would make it the mo

jim harbaugh to michigan. a cute little embrace there. from there, hackett has also been the ceo of a office furniture marriage and a very unusual career path so, again, with a lot of bay area ties. >> all right. thank you very much, scott. >>> for years tesla offered own ears nice little perk. they could charge their cars for free at any of its superstations. in january the company said they will fades that program out. new users can still take advantage of this offer if they get another driver to give a referral code so the existing owners can give out the free charging codes to up to five friends. >>> you may have seen this video already of a sea lion dragging that little girl off the pier and into the water near vancouver. a stranger dives in right after her and gets her to safety, but today the police chief says her parents are the ones to blame. here's nbc's miguel almaguer. >> a day on the wharf, popular with tourists, begins with laughs but suddenly turns to panic and fear. a terrifying close call with a massive sea lion that unexpectedly yanked the

the officials briefed on the move and reportedly set to replace him is jim hackett.ock has dropped off precipitously during field's tenure. the company slashed 10% of the work force. mostly salaried in an attempt to jump start the stock. that did not work. nbc news has not independently confirmed the report. >>> still ahead, we are awaiting president trump and air force one touching down no tel aviv. >>> and the final curtain call for the ringling bros. and barnum & bailey. the greatest show on earth. we're back in a moment. whuuuuuat?rtgage offer from the bank today. you never just get one offer. go to lendingtree.com and shop multiple loan offers for free! free? yeah. could save thousands. you should probably buy me dinner. no. go to lendingtree.com for a new home loan or refinance. receive up to five free offers and choose the loan that's right for you. our average customer could lower their monthly bills by over three hundred dollars. go to lendingtree.com right now. >>> welcome back. the president trump continues his first trip abroad. up early this morning if y

the new guy is a fella by the name of jim hackett. ll ford today, who is also going to have a bigger role at ford now. hackett is the former ceo of steel case. turned that company around. he is seen as a visionary, even though he's six years older than mark fields is. he's the guy who was credited at steel case for having foreseen the end of the office cubicle and changing steel case's direction with different kind of furniture. and he also, by the way, if you're a football fan, particularly at the university of michigan served as the interim director and hired jim hardball as coach there. and that has gone over big time. the ford board likes him. he's served on the ford board for three years. they think he's a visionary and going to take the company forward. mark fields, though, i think if he wants a new job, i'll bet he finds one. trish. trish: i don't think he's going to have too much trouble on that front. so, by the way, what exactly replaced the office cubicle? just the lower sort of more. >> open workspace. no cubicles. although

he will be replaced by jim hackett. good news from portugal six years after the bailout the breaching no longer budgetary rules. well below the 3% limit and only three are in the threshold.hat greece, france and spain. we will wrap up with something a little different in aris and other areas the emergence of cats cafes but san francisco is going in a direction. >> no doubt some wonder if this too far. gone bit a new pop-up in the san the rato dungeon called cafe two days in july people can pay $50 per person including all can drink coffee with the and main attraction the san francisco dungien. worn that the fare is either locally grown nor sustainable but i imagine it is organic. >> no, thank you for that. ow it is time for the press review. let's look at what the papers with allison.ng >> we will start in israel where hey are gearing up for the arrival of donald trump. as you can imagine a lot of rolling out the press version of the red carpet. post ande the juvenile arrives ine is trump amid great expectation. preside

if the name jim hackett rings a bell with 49ers fan, he used to be the interim athletic director of the university of michigan. he's the guy who brought jim harbaugh to michigan. a nice hug from harbaugh. that is not jim hackett, by the way, on the right-hand side. >> i was going to, he looked kind of short. >> jim harbaugh, by the way, who was the last time we had a winning team with the niners, was when that guy was on charge. >> he knows winning employees. >> yes, he does. who can hack it and who can't. >> thank you, scott. >> a warning this morning about sea lions in case you haven't seen this video. very scary moments caught on camera near vancouver. a little girl sits down, maybe getting a little too close, and the sea lion just yanks her into the water. a man then jumps into the water immediately after to help the girl out. manages to get her out. we don't know if she's hurt because her family whisked her away. experts say though it happened far from the bay area, it is a reminder that sea lions are powerful and they're animals, and they need their space. >> these are animals tha

jim hackett will take the helm. he was called a visionary as it leaps forward into self driving cars. >>> memorial day weekend is fast approaching and some are scrambling to get into shape for the beach or the pool. you may not lose 15 pounds by saturday, but you can kick-start your journey with a plan that works. here's ali gorman. >> reporter: fad diets are out, personalized diets are in. meet a working mother who tapped into virtual nutrition sessions. she learned how to tweak her diet while enjoying her favorite foods like pizza. she lost 30 pounds in 4 months. >> it was an amazing feeling, i was a size 18 and then 16 and now i'm a size 12. >> reporter: we'll show you what you can do to shape for up for summer. tonight on "action news" at 11:00 p.m. >>> breaking news out of glassboro, new jersey in gloucester county. police are asking for the public's help finding this little boy, sean michaelson he was last seen in the area of the elementary school at new street park. at the time of his disappearance he was wea

jim hackett could be taking over.e markets will be trying to recover from the trump stumble that we had last wednesday where the market fell 1.8%. keynote, gdp figures on friday. elsewhere, the government or the administration at least will issue a formal budget request on tuesday, including $1.7 trillion in cuts to certain types of spending, some of those entitlement programs and major social programs could well affect lower income americans at the same time they are trying to cut the top tax down to 35%. back to you. >>> thank you very much. >>> coming up the presidential announcement and more memorable moments from snl. >>> cher turning back time at the music awards. we have the highlights. you don't want to miss them. ♪ skin-flex™, anna! sit! new band-aid® brand skin-flex™ bandages. our best bandage yet! it moves like a second skin. ♪ dries almost instantly. better? yeah. go! good thing because stopping never crosses your mind. band-aid® brand. stick with it™ what bad back?gels work so fast you'll ask what pulled

jim hackett takes over the auto maker after the company's board decided to oust mark fields. ford is hoping a new boss will push the company to move faster especially when it comes to developing technologies like self-driving cars where the auto maker is fighting the perception it's trailing competitors like tesla. >> way we're going to win the hearts and minds of everybody is have grade ideas of work and ford has put a decade into the av development and it's really coming along and when we're ready to talk about it we're going to be really clear about it. >> the pressure on ford reflects an industry at a cross roads from self-driving cars built by tech firms to the growing popularity of ride share companies. many question if consumers will be buying fewer cars and trucks. new vehicle sales have cooled off slightly. that's prompted auto makers and dealers to offer bigger rebates and incentives to close deals but that may not be enough to convince new customers to buy new instead of used. preowned vehicles have become more attractive because prices have fallen. you'll see ampl

he will be replaced by the head of the autonomous driving unit, jim hackett.comes as ford's board and chairman, bill ford, reportedly unhappy with the automaker's performance. ford's stock is down some 40% since fields took over as ceo in 2014 at the peak of the auto industry's recovery. over to you. >> all right. thank you very much. we appreciate it. landon dowdy with cnbc. thanks. you have one more story for us? >>> jury selection set to begin in just hours in bill cosby's sex assault trial. what what's being done to try to make sure jurors are impartial. >>> makes me feel like we really have this evil lurking. >> and taking cover. witnesses describe the moments nine people were shot in north philadelphia as the gunman remained on the run. keep on going, america. keep on giggling... and goofing. keep on grooving... and togethering. with scott 1000's long-lasting roll, we'll keep on going, too. scott 1000. america's longest lasting roll. ♪ having a baby. caring for your parents. learning you have a condition. these are moments when people realize that where

ford introduced the new ceo, jim hackett in detroit this morning. he's been on the board since 2013, replacing fields, who's been with the ford company for 28 years and spent three years as ceo. in the time, ford stock price fell almost 40%. >>> new this morning, uber denied reports that it charges customers more for traveling to and from upscale neighborhoods. the response comes after uber's head told bloomberg they apply machine loading techniques to estimate how much customers are willing to shell out for a ride. the report says someone coming from a a wealthy neighborhood may be asked to pay more than another person headed to a poorer part of town, even if demand, traffic, and distance are the same. in a a statement to abc 7 news, uber said fare is passed on specific routes at certain times of day, entirely based on route, not location, wealth, neighborhood, et cetera. >>> a special tribute to honor the gay rights icon. >>> warning about juice and why you want to think twice before pouring a cup for your kids. >>> this is a live look outside at

ford's stock has dropped for three years hchl'll likely be replaced by jim hackett who joined ford's board in 2014. he's been leading the company's self-driving effort. >>> the dollar is expected to come under more pressure as the investigation into russia's involvement in the u.s. election is potentially undermining the u.s.'s confidence. the s&p finished 9 points lower. the nasdaq was down 39 points for the week. >>> while president trump was in saudi arabia, boeing announced it reached agreements to sell both military and aircraft to the saudis. boeing said the saudis have agreed to buy helicopters and maritime patrol aircraft. it will negotiate with saudi gold aircraft to buy 16. the body of the detail not disclosed. >>> a british newspaper says the rules it uses are those of facebook's method for monitoring content. it values rules on violence, terrorism, animal abuse, and nudity. for instance facebook allows videos of abortions as long as there's no nudity because facebook doesn't want to censor or punish people in distress. >>> and "alien covenant" came out on top in the box a

jim hackett replaces mark fields who held the position for less than three years.ad been in charge of overseeing ford's self-driving car program. he will vows to have a small executive team that can set the company's plans communicate them clearly and make decisions quickly. >>> the major stock indices made gains on monday and the u.s. futures market doesn't seem to be reacting to the manchester bombing. as they're flat right now but we'll see as the opening bell approaches at 9:30. >>> a ring bought at a garage sale in the 19 gets has turned out to be a treasure. the owner paid $15 thinking it was just costume jewelry. an appraisal revealed it is a 26 karat diamond worth $400,000. it will go on auction on june 7th. >> think how awesome. somebody thinking it was costume jewelry. >>> it is 4:53. hours after winding the pole position for the indianapolis 500 an indy car driver is that robbed while stopping at a fast food restaurant. month are on that at 5:00 a.m. >> we continue to follow the latest developments on the concert bombing in manchester new england. other

ceo firing mark fields, announcement this morning head of the company's autonomous driving unit jim hackett ford and bill ford unhappy with the automaker's performance. ford's stock is down 40% since fields took over as ceo in 2014 at the peak of the u.s. auto industry's recovery. green arrows, markets ended in the red last week despite nasdaq hitting a new record high on friday investors are still eyeing news out of washington and abroad, a potential political scandal in brazil sending that market to its worst week since 2012. look for data this week on housing, durable goods and first quarter gdp. oil prices at the pump are down but only slightly. industry survey showed regular unloaded fell half a percent to $2.40 a gallon. however, prices in many western and midwestern states actually rose. a sharp decline in other parts of the country helped keep prices down overall, frances and gigi, back to you. >> thank you very much on a monday. >>> coming up, iraq's presidential announcement, believe it or not and more memorable moments from "snl's" most watched season finale in six years. >>> plu

what do we know about the successor, jim hackett, and how he might deal with some of the challenges?s a lot of confidence within the board that he is going to be able to manage the company into the future. ford was under a lot of challenges. although we saw record car sales in the last few years, now we are going to be seeing a few years of much lighter car sales. that is because, after a few years of record sales, what goes up must come down at some point. that come on top of some of the other challengers, the loss of confidence from investors, it was really going to be a challenge for mark fields going into the future. that is why we are seeing that investors are feeling more confident with this shake—up in terms of management at ford. from the vibes you are getting at the stock exchange, do you think the change of leadership will go down well with investors and shareholders? certainly, if i look to my left, i can see that ford is trading just beside me and their shares are in the green. already, early on in the trading day, on the new york stock exchange, we are seeing that invest

by aceo is being replaced jim hackett, a turnaround specialist leading the automaker's moves into softs and ridesharing according to a person familiar with the move. a formal announcement is respected later on today, and for more, our team editor is here. first off, turnaround specialist. we use this term, but the guy has been at a furniture company for over 30 years, and the big turnaround after that was the university of michigan's football team because he was ly a coach. those are the two turnarounds i'm thinking of. >> he has got different work ahead of him when he comes to the fore. matt: they have hired others before who have done incredibly well. >> yeah, i mean they went to an outsider and he did very well. he kept them out of bankruptcy, unlike gm and chrysler, so it would be an interesting experiment to see what he does now. obviously, the auto industry is in a different situation than took over 14lally he had to trim costs.the challenges facing the auto industry are very significant and technology- oriented. they are worried about self driving cars, electric cars, and taking

the new leader jim hackett. ford is attempting a makeover from a traditional automaker to more mobility, in an effort to compete with tesla and uber >>> from pittsburgh tonight, jury selection in bill cosby's sexual assault case under way. cosby was there. three men and two women chosen. the panel will be sequestered for two weeks. he's charged with molesting a woman at his home near philadelphia. >>> there's still much more ahead on "world news tonight" -- breaking developments about o.j. simpson and parole. a chance to walk out of prison, how soon could he be set free? and our interview with fred goldman tonight. >>> the american doctor and father of two killed climbing mt. everest. >>> and the wildfire video showing a group of people running from the scene. authorities want your help. more than 2,000 acres burned and the arson investigation now well under way. ♪ julie is living with metastatic breast cancer, which is breast cancer that has spread to other parts of her body. she's also taking prescription ibra