david westin is standing by with jim hackett, ford president and ceo.ou know how much i've been looking to this. whenever i get to speak to the ceo of ford, i'm a happy man. >> great to be here. one of the things that is being discussed front and center is innovation and technology, and transformation, and what it's doing for growth. auto industry is going through transformation, electric, autonomous vehicles. ford's perspective? with have new poll should ford electric vehicles, we have the robotic brains, and a third is the cloud technology that can orchestrate traffic. what is cool about this, the three of these things actually were not planned to come time, butt the same with because they are, we now have solutions for cities. david: you have a specific project outside of pittsburgh where you are investing a fair amount of money in, seeking investment for elsewhere. how can that help you catch up with waymo and others? >> the great story about argo, we invested in them about 360 days ago, a brand-new company, and now they have over 400 employees, a m

changing that perception will depend on jim hackett's progm. phil lebeau, "nightly business report," chicago. >>> weight watchers i bulking up. that's where we begin tonight's market focus. the company is being added to the s&p midcap nd400 starting next tuesday. it will replace klx which is being acquired by boeing. its inclusion sent it u4% to $69.57. shares of accorda tanked after it lost a patent appeal. it invalidated four patents for the multiple sclerosis they lost a quarter of their value closing at $20.80. >>> snap's chief strategy officer is stepping down. following a controversial apphi redesign led to a drop in users. snap is the parent company of snap ch snap fell 2% to $9.74. shares also hit a 52-week low during the y. >>> and sonos came out with the first earnings report as abl company, and it was not music to investor's ears. the maker of smart speakers for the home lost 45 cents a thshar. 's about double what wall street was expecting. revenue was in line withte esti but down 6% from a year ago. sonos went public lt month a $16

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go to the ceo of ford motor company, jim hackett. >> trade is a function of equilibrium. decisions because, sadly, a hurricane or some sort of fire can pitch you. you are used to dealing with that. trade is policy. i have two beliefs. it has to be updated. modernized. so many things have changed. it has to be resolved fairly quickly. what we are urging our administration to do and when we are in china and europe, we say, you need to come to agreement quickly. >> from fort perspective, them -- ford's perspective, the tariffs took about $1 billion from us. we source most of that in the u.s.. we are in a good place. if it goes on longer, there will be more damage. >> are you making changes in the way you produce vehicles? >> not really. the traded not change our thinking. we are more of an exporter and that regard. lincoln is a hot product in china. we make that in louisville, kentucky. has made the price of our lincoln not as attractive. we have had to move people in that factory to other operations because of that trade problem. there is a lot of support for the price of o

let's go to the ceo of ford motor company, jim hackett, who talked about trade with my colleague davidim: trade is a function of equilibrium. everything is kind of working, and business people can make acisions because yes, sadly, hurricane or some kind of fire like we had in the factory can hit you. you are used to dealing with that. but trade is policy, so i have two beliefs about it. first, it has to be updated. it has to be modernized, so many things have changed. but it has to be resolved fairly quickly. and so what we are urging our administration to do and when we are in china and europe, we say, you need to come to agreement quickly. david: from ford's perspective, the metals tariffs took about $1 billion from us. -- $1 billion of profit from us, but the irony is that we source most of that in the u.s. today anyways. we are in a good place. but if it goes on longer, there will be more damage. david: are you making changes in the way you produce vehicles? where you produce them, how many you produce, where your supplying chain is already? jim: no, really not. the trade did not c

shery: fort ceo jim hackett at bloomberg global business forum.iffs was of conversation with u.k. economic secretary john glenn to discuss why britain is seeking opportunities in japan after brexit. this is bloomberg. ♪ shery: this is "daybreak: asia." i'm shery on in new york. haidi: i'm haidi stroud-watts in sydney. let's go to tokyo, where the uk's economic secretary to the treasury is attending japan's largest syntax summit. we are joined by john glenn. let's start by talking about what you are doing in tokyo. what kind of opportunities and investment attractiveness do you see in asia? particularly as they face a period of economic uncertainty? andhe key point is japan the u.k. have a lot in common. they have strong syntax sectors. part of the reason i am here is to try to explore why there are greater opportunities for us to work together. theu.k. is the leader in ability. japan has the aspiration to grow. there is collaboration that can be made in london and vice versa. exploring those opportunities, meeting with banks, people in financial s

rishaad: jim hackett even put a dollar figure on the steel tariffs when he spoke at the global businessum. imagine trade would be at the height of the discussion it is today. trade is a function of equilibrium. everything is working, and business people can make decisions because yes, sadly, a hurricane or some sort of fire like in the factory could hit you. you are used to dealing with -- isbut trade policy policy so first, it has to be updated. it has to be modernized. it has to be resolved fairly quickly. so what we are urging our administration to do and when we are in china and europe, we say we need to come to an agreement quickly. from ford -- , theford's perspective metals tariffs took about a billion dollar of profit from us. the irony is we source most of that in the u.s. today anyways. so we are in a good place right now, but if it goes on longer, there will be more damage. in theyou making changes way you produce vehicles, how many, supply change -- chain? jim: not really. the trade didn't change our thinking on any of that carried we are more of an exporter in that regard,

what's the future for ford it hovers around what ceo jim hackett plans to do.urn around plan? we're putting question marks because nobody is sure what will happen will they exit major markets europe and south america are mentioned most frequently. cut 10% to 15% of the work force? then there's the the autonomous vehicle strategy ford is investing heavily in autonomous vehicles but nobody is sure where it will pay off, how it will pay off and what's the strategy ever all and analysts are saying not sure you should touch shares of ford. that's why these shares are close to a 52-week low and analysts are waiting for when ford reschedules its analyst day. it was supposed to be this month. they postponed it, nobody is sure when it will happen and one other note regarding postponements. look at shares of geely, the chinese auto maker that is the parent of volvo. we were talking about geely planning an ipo of volvo they have said we're not going to do it because of trade uncertainties. that's made it difficult for volvo which has manufacturing presence in china to kno

jim hackett is the ceo of ford in the middle of

i mean gm has the ceo in marchy barra versus jim hackett who has no plan yet? >> i think, in sentiment on the autos is as negative as i have seen the sentiment on autos right now. >> but the economic back drop should be the best for autos >> they still have -- the stocks are overreacting to what the trade concerns are i think this is more a secular issue for the autos than just all of the headlines that we currently see. but i had said on august 28th i need ford trading above $10 on a couple of days before i try to buy it using that as support it was a one-day event. >> it's been 50/50 five years you've had low interest rates. you have had a growing economy you have tax cuts now. i mean what more do you want and the stock can't get out of its way? now to their defense, the industry o stwree is drupted the autonomous cars, the uber ride sharing, that type of thing five years you should do something. >> gm and ford each will have $145 billion in sales this year. gm has 8.5 billion in net income and ford has 5.5 billion the profitability that phil just alluded to

fields this is not like mark fields skates free here the big concern that wall street has is that jim hackettreat. nobody's arguing with that transform the company. give them an idea and what a plan is. they had a meeting scheduled for early september. they scrapped it they said we're not ready yet. we know we will be spending $11 billion to transform the company. yet you still have everybody on wall street saying what are you going to do on autonomous vehicles how are you going to make money on them because you're investing heavily in that area there are many in the auto industry that have a clear blueprint on how to make money on autonomous vehicles >> maybe hackett needs to go on the joe rogan show, expand his mind, open up the vistas >> hackett's already got a reputation for being cerebral. >> somehow i'm not sure hackett is the key demographic they're looking for there. >> anything else happening with that -- you know what? is there anything that would surprise you now when you come in in the morning that you have to talk about? that was something last week, wasn't it? >> no. i do know t

them in a number of markets, most notably down in the miami area but we're waiting to hear from jim hackette's working on a earestructuring plan to dramatically remake the automaker. but what that plan is, the details of that plan, are unclear. he keeps say we want the company to be financially fit. everybody likes fitness, but they want to know how you're going to get to that fitness there was an analyst's day scheduled for this september they have delayed it they will reschedule it at some point, potentially before the end of the year. and as you take a look at shares of ford, again, 9.23 is the level. if they have a close below that, you're looking at levels last seen back in 2009. >> let's talk about the presidential tweet to bring that, what is it, the active, a version of the focus >> the focus active. that's the next version of the focus, the focus active. the plan from ford was to build it in china, where it is sold, in larger numbers, because it makes sense to manufacture it there. and then import a small number here, like 50,000. relatively low volume and sell it in the u.s. well,