talk about what ken feinberg has done, she announced at hearing that the company will be hiring, ken feinberg. they have their first meeting on friday. she wouldn't even commit to say there is even a victim's compensation fund. ken feinberg is well-known for administering the 9/11's victims compensation fund, boston bombings and those affected by the gulf oil spill. gm not committing to setting money aside here. they're exploring next phases on all of this. she did talk about had gm decided when it first became aware of these issues about a decade ago, had it decided to change an offer a recall and change these ignition switches back then, it would have cost the company, she said, less than $100 million. she says it will be significantly more now but she refused to give an actual answer how much this is going to cost general motors. gerri? gerri: rich, i think a lot of people out there are not happy with the lack of answers she gave today. i don't know how surprising it is, given the fact that the company is under a lot of pressure right now and possibly legal issues arising for the c

they have also hired ken feinberg. oversee the disposition of this investigation. >> if ken feinberg decides they should be a fund for victims which is what he usually does gm has not committed and mary barra would not discuss if they should compensate victims. two to $3 billion would probably be the appropriate size for that fund. there has been a lot of people asking gm to do it. they have not been willing to commit. that is the sort of thing, they need to say we're not going to hide behind our encrypted protection. we will honor liabilities to these victims and that is the significance of ken feinberg being brought in. >> what does gm have to do to regain -- regain the trust of the car buying public. >> they have to walk the line between a being acknowledged -- contrite and fixing the problem. it may cannot have a gm that says not my problem. i was prebankruptcy gm. they're going to realize that and they have set things up to acknowledge that they have to deal with this issue. whether or not they have legal protecti

mary barra said they have appointed ken feinberg, he worked on the compensation packages of 9/11 attacks and the bt oil spill. barra did not say that they will do compensation packages. >> to see the families of victims, holding their pictures in their arms, thank you. libby casey, from capitol hill. >> was g.m. worth saving with taxpayer money? john said on facebook, i don't trust g.m. to make safe cars. waiting over ten years. another tweet, why is g.m. taking more heat than any other

. >> going forward, what kind of latitude are you going to give ken feinberg? >> ken feinberg, as you know, is an expert in this area and has tremendous experience and we are going to have our first meeting with him on friday and, you know, we are going to examine a wide range of opportunities and leverage his expertise. >> are you looking at that investigation report when finish standard? >> i will share and be transparent with those items that are appropriate so share. there may be -- everything appropriate to share and everything related to consumer safety, everything related to the customer. >> in written format? >> that has not been determined yet. >> thanks q guys. all right. >> thank you. >> at another hearing on capitol hill, g.m. c.e.o. mary barra testified about the safety of the company's cobalt, more than 1.62 million vehicles that were recalled. here's a look. >> is that cobalt car, as driven now, safe for your daughters to drive? would you allow them behind the wheel? >> i would allow my son and daughter -- my son, because he's the one eligible to

. >> what does the hiring of ken feinberg indicate? >> that falls on the positive side. she was contrite. there were tragic incidents here. she was sorry about that. feinbergg of ken indicates that general motors is going to go down the road of compensation willingly. it talks a lot about the .ankruptcy does, legally. but if you bring in ken feinberg, you're getting ready to write big checks. they want to do her best to make up for these things. she really wants to bring gm forward to the come more customer oriented. >> thank you. matt miller in washington. i want to bring in my next guest. our guest host for this half-hour. kari -- neel kashkari. great to see you. perfect timing. we're seeing all of these faces from the 2008 bailout. 10 feinberg and now you. what did you think about the testimony? >> it is a tough thing. the only way you can approach it is to be completely open and transparent. i think she did her best created as a tough situation. she was not ceo at the time. she is taking the right actions now. >> what you think of ken feinberg? >> he is a trusted hand

cap -- hiring ken feinberg, that tells you a lot, doesn't it?we will have more on the gm hearings right after this break. ♪ >> you are watching "street smart" and i'm julie hyman. in stocks, we are seeing a rally. the s&p 500 is trading at a record. it touched an intraday record today and is trading on a closing basis. we will see if it holds through the next 15 minutes or so until the closing bell. datad get manufacturing this morning that came in better than economists estimated. maybe it was just the weather. weaknderlying economy is and it wasn't just weather effects fishing numbers down, so this is a data point that may show it was the weather and we can blame it on that. ,c many cyclical groups consumer discretionary, industrial shares leading the gains that you see today. >> thank you very much. with go to washington dc right now what they hearing with marry bharat testifying before congress on faulty ignition switches. let's listen in. this is called a general motors commodity validation signoff. this is what the engineer signed approved

i think it's a very positive move to hear that they have hired ken feinberg because consumer groups asked mary barra in a letter to set aside a $1 billion fund to compensate others, people who were injured or killed in crashes that occurred before july 2009, which is the date of the bailout. what happened in the bailout, it was quite unusual, in my view, is that they said any crash that occurred before the bailout is the responsibility of the old general motors which has no money and, therefore, people are not going to get any money, in i compensation for their injuries. >> ifill: so there's a liability pre-2009, a liability shield? >> there's a liability shield, that's right. the fact that she's now talking about having ken feinberg look at this and see if there's a way to compensate these individuals, i think that's a very positive move and i hope that that occurs. >> ifill: david shepardson, i want to ask you about the national highway traffic safety administration as well, their role, they were also testifying today, they were also pressed on these questions. did lawmakers seem to bel

they hired ken feinberg.ion is going to pay out a lot of money, you hire kenneth feinberg and he tells you what those to whom. that is what they are planning to do. >> i wonder what the price tag is. >> nothing even close to what the u.s. taxpayers gave in the bailout. >> is that a law for gm? is that going to be painful? >> compared to selling no more cars because the american public thinks you willingly kill people? >> isn't there also the possibility that the number of victims is going to go up? >> i would assume so. if you have a case you could tie to this and that could be lucrative, you will want to tie this to the case. feinberg indicates there are litigation risks that we are not aware of. >> michael lewis released his book -- >> we are still talking about michael lewis? rallied.k has take a look at case e.g. holdings. -- kcg holdings. intercontinentalexchange group over two percent. >> the discount brokers were down. rumor, sell the news? feel hft is so yesterday's news. why did he choose to write ab

. >> barra also announced gm has announced ken feinberg to oversee the results. best known for handling recovery payouts after disasters like 9/11 and the boston marathon bombings. joining me is ken and jane reimer who lost their daughter. welcome to both of you. >> thank you. >> jane, listening to yesterday's hearings, did you get any satisfaction at all? >> no, i did not. i felt that she was very scripted in what she was saying to us who had lost our children, and it's under investigation. we've heard that many, many times yesterday. we as family members felt that was very frustrating. >> ken, what do you want to hear from her? >> what we want to hear from gm is take ownership of what happened. whether it's new gm, old gm, it's still gm. we want this not to happen to anyone else, no one else gets hurt. gm needs to say, man, we really messed up. this was our fault. we'll fix everything that was out there and we'll take care of those that were hurt or injured and those that lost loved ones. it was our problem. it was our fault and we accept the ownership of that.

he is the latest addition of the crisis team that includes ken feinberg, and anton velucas, the attorney who investigated the lehmann brothers. well, it's a quiet revolution happening in big businesses around the world. hiring people with autism, not for altruistic reasons but for a competitive edge. >> we're looking for people who have the ability to concentrate on tasks for a long period time, tasks which for some people are repetitive but are of high importance to us. >> that story when "real money" continues. [ male announcer ] it's here -- xfinity watchathon week, your chance to watch full seasons of tv's hottest shows for free with xfinity on demand. there's romance, face slaps, whatever that is, pirates, helicopters, pirate-copters... argh! hmm. it's so huge, it's being broadcast on mars. heroes...bad guys... asteroids. available only on mars. there's watching. then there's watchathoning. ♪ >> lisa fletcher with what is coming up on "the stream" . as much as u.s. has talked about immigration. you have people on the show who could be at the center of the conversation but almost nev

she said, look, we've hired ken feinberg who, of course, dealt with a lot of the settlements of bp.s a very, very strong and legitimate and respected person. but then, of course, when you all in congress got down into the weeds, in fact, you did hav, tim murphy, who was running this whole thing, flat out said what, why wasn't this considered a safety issue? and she said, i can't answer that. she said many times i want to know as much as you do. that almost seems like ad answer. -- ad answer. do you think your members will get angrier and more concerned? >> again, it's not the congress' job to get angry. it is the congress' job to get the facts so the american people can make the right decisions. i think she wants to do the right thing. you know, i don't think she's trying to hide anything. but this part that they were using was not just a little bit off, it was way off. it was about only a third as strong as it needed to be, apparently. i've got my keys here. if i use my keys in that car, it's quite probable that the weight, the force of this key chain would have caused the ignition

the second thing she said was ken feinberg has been retained as counsel. he advised bp.of claims for bp. 9/11 from the victims. that is an orton. -- that is important. she said they are going to take two months what if any competition there should be. have a listen. >> we don't have the sound. > you gave us a good summary of the point she was making. >> the issue facing the company is twofold. the first thing is, in terms of their bottom line, are people going to stop buying gm cars in the u.s. or anywhere as a result of the scandal? are they going to feel afraid and decide not to buy gm? we got the numbers for march sales. up fourles were percent. that beat expectations. that is positive. but these are early days. digg overhang on the stock. down 16% for the year while the competitors are up. the reason is because of all this uncertainty. the day before yesterday, gm doubled the charge is going to take as a result of this recall. people don't know exactly where this will and, especially with a guy like feinberg in charge. >> what about -- that is the root level -- what

and ken feinberg, just hired by gm, probably has more experience on this question than anyone in the world, because he was in charge of dividing up the money for the victims of the world trade center attacks and the first question that's always asked is -- what was the person making in terms of income at the time of their death? and how can you project forward what they were -- >> career earnings. >> so that's where you start. but it can get very complicated. after that, you have issues of pain and suffering. you have issues of how much does it take to support their family? but career earnings is journal the first question you ask. >> talk about the gm case, because gm could be shielded from civil liability because gm went bankrupt. this is a new gm. there's a new company that holds all of the, i don't know, the junk of the old gm, and that's where the liability would lie. unless the bankruptcy judge is convinced that gm deliberately defrauded the court. there is also a criminal probe and then you have michael moore calling for the death penalty for gm execs who knew about this. i'm

. >> barra now she's hired ken feinberg who helped the 9/11, gulf oil, and boston marathon bombing families to compensate gm victims. today we hear more about money. >> a piece that cost pennies. >> reporter: a 57 cent part that could have cost gm $100 million to fix in 2007 now costing the company and families so much more. >> reporter: so far this year gm has recalled 6 million vehicles. a couple of different recalls there. it looks like the company is saying, francis, it's going take until fall or maybe even later now to get the vehicles fixed. >>> a strong declaration from president obama. the health care slaw here to stay. the public victory lap after a confirmation that 7.1 million people signed up. it surpasses the white house's initial goal. the late surge is an unexpected comeback after chafs widely considered a disastrous rollout. >>> overcoming skepticism and fear of something new is hard. a lot of times folks prefer the devil they know to the devil they don't. but this law is doing what it is supposed to do. it's working. >>> in a few weeks we should learn more details about enr

>> ken feinberg as you know is an expert in this area.ience and, we are going to have our first meeting with him on friday. and you know, we are going to examine a wide range of opportunities and leverage his expertise. >> okay. we'll give you investigation report when it is finished? >> i will share and be transparent with those items that are appropriate to share. there may be, everything that is appropriate to share, everything that is related to consumer safety, everything that is related to the customer. >> written format? will there -- >> that has not been determined. >> thanks, mary. liz: ceo mary barra facing the press after facing a congressional committee which seemed to be a pretty tough congressional committee. they came very prepared. she according to some people who watched this, less prepared, admitting she hadn't read many of the documents. however facing the press she came out repeating the line over and over again, what i'm focused on getting answers. as soon as i have them you will have them. david: of course the story

mary barra said they have appointed ken feinberg, he worked on the compensation packages of 9/11 attacks and the bt oil spill. barra did not say that they will do compensation packages. >> to see the families of victims, holding their pictures in their arms, thank you. libby casey, from capitol hill. >> was g.m. worth saving with taxpayer money? john said on facebook, i don't trust g.m. to make safe cars. waiting over ten years. another tweet, why is g.m. taking more heat than any other company. now here's the thing to remember about g.m. this isn't just any company accused of doing something wrong. it's a big force in our economy, and without your tax dollars it probably wouldn't be here today. i'll explain coming up. plus the secret to a more fulfilling life, it may mean replacing this with something more like this. ariana huffington explains more. keep it right here. >> u.s. automakers enjoying a spring thaw after a harsh winter kept people from car show floors. sales climbing a whooping 13%, nissan posted an 8.3% increase. ford was up 3.3%. general motors in the spotlight today with

he is the latest addition of the crisis team that includes ken feinberg, and anton velucas, the attorney who investigated the lehmann brothers . well, it's a quiet revolution happening in big businesses around the world. hiring people with autism, not for altruistic reasons but for a competitive edge. >> we're looking for people who have the ability to concentrate on tasks for a long period time, tasks which for some people are repetitive but are of high importance to us. google and the world brain >> it would be the worlds greatest library, under one digital roof. but at what cost? >> google could hold the whole word hostage... google and the world brain only on aljazeera ameria >> start with one issue education... gun control... the gap between rich and poor... job creation... climate change... tax policy... the economy... iran... healthcare... ad guests on all sides of the debate. >> this is a right we should all have... >> it's just the way it is... >> there's something seriously wrong... >> there's been acrimony... >> the conservative ideal... >> it's an urgent need... and a host wi

. >> reporter: gm said today it's hired ken feinberg, the man who ran the 9/11 fund and the gulf oil spill fund, to look at issues and programs for gm customers. gm is not yet committing to a financial settlement. this is costing the company a bundle. $750 million in the first quarter after a profit of $900 million in late 2013. brian? >> tom costello starting us off after an emotional day on capitol hill. tom, thanks. >>> and across town in washington, late this afternoon at the white house, president obama stepped into the rose garden for what was designed as an outdoor public victory lap, to make the official announcement that 7.1 million americans have signed up for health care under obamacare. he referenced the disastrous start of the website. he conceded future fixes and tried to lay down a marker or two to critics. our chief white house correspondent chuck todd was there for it. he is with us now from the north lawn. chuck, good evening. >> reporter: good evening, brian. obviously a sense of relief here at the white house considering where they started back in october with tha

. >> i'm glad you mentioned that ken feinberg is there. >>> when we come back we'll get cramer's "madash" and take a look at the premarket before the bell and a lot more of "squawk on the street" straight ahead. e. i tuned it all out. with unitedhealthcare, i get information that matters... my individual health profile, not random statistics. they even reward me for addressing my health risks. so i'm doing fine... but she's still gonna give me a heart attack. innovations that work for you. that's health in numbers. unitedhealthcare. ♪ >>> all right. about 7 1/2 minutes to go before the opening bell. >> it's a wednesday. piper comes out this morning and says, listen, apple's a value play, too. you want to take up all the other value plays, you ought to take up apple. going to be a boost in the dividend and the buyback when they announce the quarter and thinks the new products are underrated and goes up 43. $3 from last year. a little bit of growth is what's been driving some of these stoke stocks and i think the overall note is are you going to take hewlett-packard up this much? are yo

has tapped attorney ken feinberg, the government's pay czar during the financial crisis and hired to oversee payments of families of victims killed or injured in accidents linked to those faulty switches. mary thompson looks at the man who's become the go to guy in times of crisis. >> i have no comments. i've read the newspapers. >> reporter: being in the center of a media storm is familiar territory for kenneth feinberg. >> if you're a company caught in the deepening of a quick stand of a media scandal, he can keep you from sinking deeper. >> reporter: the latest to call on his services, general motors. feinberg's role, be a mediator between the automaker and families of victims whose deaths and accidents were linked to a faulty ignition switch. >> i am sure this committee knows mr. feinberg is highly qualified and very experienced in handling matters such as this. >> reporter: general motors ceo mary barra making the announcement when testifying b congress about the flawed switches. they're blamed for 13 deaths and 31 accidents. it's not an unfamiliar role for feinberg. he made a n

you mentioned here that gm has hired ken feinberg. you know, he's accustomed to large claims.he handled the bp oil spill in the gulf. you all have confirmed 13 deaths. does this suggest with fienberg coming on board that the number of deaths and injuries is going to be potentially much higher? >> we are starting our work with mr. feinberg on friday. we think is an expert in this area and we want to do what's right. so we thought he was the person with the most expertise to go forward. and i would also, to the previous question, if a person is not culpable driving their cobalt or one of these models, we are providing loaners free of charge. >> with fienberg on board, does that suggest that gm is going to compensate owners who feel the need that they have to park their car, other than the loner that you're speaking about? >> again, working with mr. feinberg, there's many aspects that we need to work through with him, and so that is why he, on his timeline, the same it would be about 60 days. >> the center of auto safety has suggested that they think this defect may have caused o

how long till ken feinberg gets involved? >> can ken feinberg be far behind hon this one?> a busy week for earnings, goal-in and ibm posting results after the close. josh, kick things off for us. what numbers are key for google? >> the google, report could be messy for investors. for one, remember, google is selling motorola's smartphone business to lenovo which is now moved into the discontinued operations column. that should positively impact earnings because, remember, motorola's losses have been a drag on google's results. the company split its stocks and doubled its shares which could add confusion to q1 numbers. bottom line, analysts expect eps of 1641. google's class "a" shares up. >> we'll be back with you when the numbers come out. morgan, what is expected from big blue? >> ibm's missed on revenues the past nine out of ten quarters so expectations aren't high. analyst calling for eps of $2.41, a 15% decline year over year on revenues of 2.91 billion, a 2% drop. keep an eye on hardware, a trouble spot and strong bookings ended 2013 but q1 is typically slow and the

. >> we suggested that hiring ken feinberg, that has to be taken as a positive.he real question is, as jim looks back to their past, will the guys like you say look forward? >> it is a combination of and/and. i think over the past 40 years, at number two and number three in terms of this they have done pretty well. it is about the future. what we going to do now to fix this problem? what are we doing now to bring back quality, reliability? >> as digital media and constructed tool for companies in brand troubled? >> it is more of a tool now, it is a way of life. we are all digital native. we have to understand this market and these rants, and with to communicate with people where --y want to be vindicated where they want to communicate and how they want to communicate. >> you go from a full-page tylenol ads in every newspaper in the country 30 years ago to endless tweets and facebook. is that the reality? >> that it was not the ad that made tylenol and the recent successful, it was the quality integrity of their leadership. they goal, took steps to fix it, and her

nothing that gm says it will retain ken feinberg as a consultant.e led the compensation efforts for 9/11, the bp oil spill and the boston marathon bombing. we will take a quick break and .e right back rat ♪ >> this program -- president obama will make a statement on the affordable care act in the rose garden around 4: 15. we will have live coverage of the gm hearing. more on those hearings in a special edition of street smart crumpton in'm mark york. on the markets is next. >> it is 56 past the hour and that means bloomberg television is on the markets. i'm alex still. a quick check on where markets are trading. we had the first day of the second quarter and stocks are rising. .&p hitting a record at different story when it comes to gold markets. gold hit a seven-week low. things in a wreck for the past two weeks as economic data in the u.s. continues to improve. i check in on oil. down for a second day. we're waiting for the latest inventory to come out for. aregulf coast inventories 97% of storage capacity. a lot of oil buildup happening on the u.

they have hired ken feinberg for the ignition switch problem. for paying out the victims of the attack and the bp oil spill. how much do you think gm is going to have to pay out at the end of the day? >> $3.5 billion for everything. for just the victims fund alone, with a 1.5 billion. stuart: do you think they will move quickly on this, get it out of the way, move on? >> right. the victim's family saying criminal activity, insiders covering up. two insiders using criminal behavior in gm. a person like ken feinberg is about wrapping it up quickly, putting it in the rearview mirror. i do not want the bankruptcy opened up again. this is the key part of this story. gm went bankrupt. now the bondholders back then got $0.10 on the dollar. the bond holder, what about us? if they don't move quickly, they are in for a heck of a time ahead. stuart: that is not that much money for general motors. how much do they have in cash? >> $30 billion. stuart: that is why the stock stays right there 34 to $35. they've got the money. it won't make much of a dent in t

ken feinberg.stock today is down another 1%, down around 5% over the last month. >>> now, high speed trading firm virtue financial has reportedly delayed the start of its ipo for at least a week because of the negative attention the industry has received from michael lucas's new book, "flash point." the agency has several active investigations into possible abuses by high speed traders and other stock market structure issue. the fbi is conducting a wide ranging probe examining whether high frequency traders are getting material information ahead of other investors. >> i think people are aware of the advantages of speed. is it harmful, is it not harmful? who does it harm? but these are all issues which are very much we're reviewing intensively. >> high speed traders have wreaked the stock market. the debates over the pros and cons got pretty heated. one of the an tag insists went at it with brad carpiema, a new exchange that lewis touts is a more even playing field. >> i think it's really hard to pu

ken feinberg, you know that name investigations into 9/11 and boston bombing.ill lead some sort of investigation here. time to bring in charles payne from the fox business network on what we just heard. huge problem for general motors. >> this is a huge problem. general motors going through the bailout and getting so much negative publicity finally started to regain market share. around september of last year, maybe americans for giving them somewhat. of course mary barra herself elected ceo. big press, first woman at the helm. a lot of positive things happened for the company and all the things they have gone through thrown out the windows. the first question, if gm knew specs weren't up to par and she said yes, that hit with an exclamation point. >> it's interesting, she's been with the company many decades. that's good and that's bad. it's good, she can answer questions. she's had a bumpbl of jobs at gm. she's very familiar. a lot of other ceos recent times were not at gm. that's a positive. the negative is she was there. >> was she part of the problem, part

. >> reporter: she's hired ken feinberg to compensate gm's victims. more about money. >> a piece that costs pennies. >> reporter: a 57-cent part that would have cost gm 100 million to fix in 2007, now costing the company and families so much more. you know, gm has a mess on its hands because they've got 6 million cars under different recalls. just so far this year, in four months, compared to less than that in the last four years. initially they thought they could get them all fixed by this fall, by october. but there was another recall, totalling 6 million. a company spokesman says it might take longer. >> you have to feel sympathetic towards barra, on the job three months as ceo. she was not ceo when decisions were made. but not as prepared as maybe congress people hoped. >> reporter: yeah, lawmakers didn't like the fact they were asking her questions from the documents that her company sent and she didn't seem to know what was in some of the documents. granted, they got 200,000 documents from both nhtsa, the government agency, and gm. but they had

criminally, though, they could be held accountable despite the bankruptcy they appointed ken feinbergo oversaw the compensation funds after the bp oil spill. >>> thank you very much. >>> the death toll in washington state is rising. 27 people are now reported dead after that devastating landslide more than a week ago. 22 people are missing as search teams dig through the mud of the mounds of mud. >> reporter: good evening, wolf much we got a chance to go into the landslide zone today to ground zero. it was our first up close look at the devastation tlarks couple of miles up the roadway here. i was struck by what you couldn't see. you look around and so much of the devastation is now below what's become the new surface of land there, so that and the fact that everything was really obliterated when the landslide happened has resulted instead of seeing large piles of big objects that are displaced you just see splintered wood and mud every where. an up close look at the landslide disaster zone reveals a seemingly insurmountable volume of mud and mostly clear. >> incredible amount of ener

i welcome the appointment of a consultant, ken feinberg, also well-respected, with experience and expertise in providing compensation. but g.m. itself has said still there is no compensation fund, and it will not commit to one. and as able as these two individuals are, the question remains: what will it take? what fact or evidence will be required to persuade g.m. to do the right thing? i think there's more than ample evidence -- in fact, abundant evidence now -- as to what the path should be, and i urged it yesterday on mary barra. g.m. should very simply do the right thing now, establish a compensation fund sufficient to seek to make these victims whole. nothing will erase or even ease the pain and grief suffered by these families and loved ones. but justice has its own virtue, and g.m. has the rare opportunity in american corporate life to do justice and not wait for its consultant and its investigator to -- quote -- "work through" -- end quote -- the issues here. working through the issues here means doing right by those victims. yesterday i asked ms. barra about the safety of the vehic

. >> gm announced they've hired ken feinberg, the man in charge of victim compensation after 9/11 ands a noteworthy move since their bankruptcy plan may shield the company from having to legally pay compensation though the ceo wouldn't say what their plans are. tomorrow she'll be back before a senate committee and the chairwoman there is already saying this may not just be gm incompetence but rather a cover-up. >> thanks to you and dana will be reporting on the senate testimony tomorrow. major developments today in the ukraine. nato suspending all practical civilian and military cooperation. their exact words with russia. russian president says he's moving troops away from the ukrainian border. karl penhaul was on the border. what have you been seeing there? >> erin, moss quo's insisting it's so far nato chiefs say they see no evidence of that, and based on its intelligence the ukranian government believes that the russians are simply repositions or swapping out some of its units. we've just come back from ukraine's northeast border. there we saw the ukranian military digging, in armo

how it is that they did not recall these parts and she said she will -- she has already to taked ken feinbergof that. the issue -- is this going to hurt gm's ability to sell cars? consumers might say that maybe the car is not safe enough for me. evidence thus far. there is a lot of uncertainty hanging over the stock. shares are down 50% this year. chrysler is up and fortis up. a people are worried that this is going to be a can of worms that hurts the company. its charge doubled for these recalls to $750 million. many -- surprised how how little information she delivered. at wellpoint -- everybody appreciates you have to be careful at what you say because of the legal aspects, but at what point to consider it stonewalling and that's why enervating answers -- and sly and evading answers. is -- has lost $18 billion in europe since 1999. they have been trying to refashion opel's image. in gm, you're going to think about this. it has not have the same residence. >> they do not have great names. tainted by not being this scandal. >> at the moment, if you go around berlin or frankfurt, you will see

. >> ken feinberg distributes checks out. that has to be taken as a positive.oes gm look back to their past or do guys like you say, no, look forward? .> it's a combination you have the legacy and the path. they have built loyalty and good cars. over the last 40 years come a , 2 or 3. what are you going to do now to fix this problem? what are we going to do now to bring back quality and reliability? >> use digital media a constructive tool for companies in trouble? >> it's more than a tool. it's a way of life. all have to understand that we have to communicate with people. they are in control now, not the brand. you went from a full page tylenol add to all the tweets and facebook. that's not the tylenol add was successful. it was the quality of leadership. and took steps to fix it here we are back again. consumer is the medium. the person has the power. >> kevin roberts with us. we have so much to talk about, including china. up thisp, earnings afternoon. scarlet fu will take you over the headline data of j.p. morgan and wells fargo. this expectations may be a

the claims fund, the so-called one fund boston is being administered by ken feinberg.s going back to agent orange. saying his effort in boston has been helped in part by the fact there's been a huge outpouring of support. >> in 60 days, 100,000 donors from around the nation contributed $61 million. now, in newtown, connecticut, across the massachusetts border, $7.8 million. aurora, colorado, the movie shootings, $5 million. virginia tech in blacksburg, virginia, the deranged student gunman, $7 million. >> reporter: so as a result of that outpouring, they were actually able to expand the eligibility criteria. but feinberg told us after meeting with victims, it's clear money only goes so far. >> i said, mr. jones, i'm here, you're going to receive tax-free $1 million for the loss of your limb. he looks at me and says, is that right? mr. feinberg, i have a better idea. you keep the money, give me my leg back. how's that? >> that gives you a little bit of sense, though, of the spirit here, the need to bounce back. and this race today is a part of it. as we said, well under

>> ken feinberg is an expert in this area. he has tremendous experience. we will have our first meeting on friday. we will examine a wide range of opportunities. >> will you have an investigation report when it is finished? >> i will be transparent with those items. everything that is appropriate to share in everything that is related to consumer safety. >> will be in written format? i have has not been determined. >> the hearing on gm's ignition switch recall, a problem that has been linked to a dozen deaths continued with testimony from the head of the national highway and traffic safety administration. this is an hour and a half. >> mr. david friedman has served as the administrator since the 14. he was sworn in on may 15. he became net so --nitsa's deputy administrator. he worked for 12 years. he was a senior engineer. he worked as a deputy director of the clean vehicles program. under the rules of the committee, you can be advised by counsel. do you choose to be advised? >> i do not. please rise. >> these where that the testimony -- do you swear that

. >> gm announced it has hired ken feinberg to manage the compensation fund for victims of the ignitionis goal for obamacare rollout. despite the disastrous rollout, 7.1 million people enrolled in the obamacare before the deadline on monday. the white house still hasn't revealed how many of those who signed up paid their first premiums or how many were previously insured under plans that were cancelled. >>> an extradition hearing is set for today for a minnesota couple arrested in ft. lauderdale, florida, accused of collecting benefits meant for the poor while living in luxury. prosecutors say andrea and colin chisholm were living in a $1 million yacht as they scammed the government out of more than $160,000 in welfare payments, food stamps and medicaid in two states. mr. chisholm claimed to be scottish royalty. his wife bred pricey show dogs. >>> a scary situation in south florida. a scaffolding off the 30th floor of a condo collapsed while two workers were still on it. one jumped to a balcony, threw a rope to his coworker. luckily and incredibly neither of the two men were injured. th

they met with ken feinberg and start to decide who is going to get paid or not.false information over the years. >> nobody has their bonus called back. i will say this, there have been a lot of lists put out in the last 48 hours. my travel trust owns gm. i heard that gm is the most over owned. i think gm is very in expensive. but if it has that much of a hedge fund following it wouldn't last. look at stocks like under armor. it is not going up. the liquidation continues here. >> it does appear to. so call eed draw downs. >> it is not a period where hedge funds have redemptions. >> i'm not talking about redemptions at the fund. >> doing poorly right now. we are not in a period where the windows open. where they are like look i don't see a lot of funds have a first quarter window in the time that -- >> people are not going to pull on a downside. >> those who are shooting against the hedge funds, save it for the quarter. if that is your game you are shooting against a non wounded tiger. maybe a sleeping tiger. maybe a crouching tiger. >> hidden dragon. >> thank you

>> well, don't you think they're already going that direction, given that they hired ken feinberg?hiring him just to look at the numbers. i think they know that they're going to have to do something to compensate the victims, especially people whose claims are not able to be paid given gm's 2009 bankruptcy restructuring. so -- >> david, you're just raising another question, though. should the money come from the new gm or come from the old gm? >> sure. i mean, there's not a lot of money left in old gm at this point. but -- and i think a lot of wall street analysts think they'll be paying somewhere between $2 billion and $3 billion in total and don't forget that given that toyota just paid a $1.2 billion criminal fine four years after its recall problems that gm also faces pretty hefty costs on that front as well. >> okay. we're taking hits on both satellite feeds. so we're going to leave it there. thanks, david and paul. we do have a programming note. we're going to talk to representative diana degette. she had a memorable exchange. holding up a gm ignition switch. you have a big k

extraordinary litigation regardless of whether they may be protected by bankruptcy, she has to ken feinberg out a lot of money. >> yes. they've set aside between $600 million and a $1.3 billion. think about it in context. they will do right by their customer, invest in the brand, do right by the people wronged by engineering mishaps, whatever they can do. >> you don't believe consumers at home will be impacted in their decisions about buying a gm car. >> i think it would be naive to believe no one would be impacted by their decision to buy a gm vehicle. gm is taking the right steps to invest properly in the crisis and move themselves forward into the new gm and we're talking about the new gm here where it is a much -- i think it's better operated, better capitalized in a better position for the next ten years than it was in the last ten. and i think they're addressing these issues and six months from now the issues will be behind them. they'll have done right by customers, their employees, and historically the automakers trade 4.5, 5 times ebitda. today trading just over 2 and everything lo

. >> gm has launched an independent investigation and hired ken feinberg, the man who ran the 9/11 fund, to look at what steps gm should take for its customers now. so far, it's not committed to a financial settlement. we'll see if that comes out in the next couple of days. >> tom costello in washington, thank you. renee trautwein lost her daughter sarah in an accident five years ago, that accident involving a 2005 chevy cobalt. sarah was killed instantly when her car went off the road and hit a tree. her air bags never deployed, a sign the ignition on her car may have switched off due to the faulty part at the center of this this gm recall. the trautweins are plaintiffs in a lawsuit against gm. the cause of their daughter's accident is now under new investigation. renee is here along with phil, who was sarah's brother. good morning to both of you. mo. >> good morning. >> renee, i watched you watch that piece and you were there yesterday for the testimony of the gm ceo. how did it strike you? did you find any satisfaction? >> none. in fact, it made me more upset. >> why is that? >> beca