coming up on this program, mary barra sitting down with david westin. good morning.s is bloomberg. ♪ ritika: house impeachment managers will make their opening arguments. they wanted to show the president urged a mop to storm the capitol. they will need 17 republicans to cross party lines. trump's defense team says democrats are trying to squash a clinical rival. donald trump has asked tom beach to let him stay full-time at mar-a-lago. a lawyer says he should be allowed to live there since he is an employee of the private club. local residents have argued he should not be allowed to live there firmly because of zoning rules. a house committee advanced a portion of the $1.9 trillion stimulus package that include a minimum wage increase. the education and labor committee approved raising the minimum wage to $15 an hour. republicans objected and cited a congressional budget office study saying more than doubling the minimum wage would cost 1.4 million jobs. the controversial former pro football quarterback: cap nick has joined -- colin kapernick has joined the spac fren

achieved executive mary barra says they will not receive parity with gasoline-powered cars until the the decade. mary: we will have a positive year in 20 21, not only for my financial perspective, but also the continued -- but very shortly, we will be launching the chevrolet bold euv, which is a great vehicle, days away, and later this year, we will be serving the market with the gmc hummer ev, and the cadillac lyric comes shortly after that, as well as tremendous progress being made from an autonomous perspective as well. so we are really excited about the year, the growth opportunities that we have in front of us. so it is a year of execution, and, you know, the issues with chips, we will work through it. david: is general motors in the same boat as everybody else, or is there something you can do to get an advantage over other automakers? mary: in general, this is an industry issue. we are working every day to look for opportunities of how we minimize the impact, so we will continue to do that. you know, we did provide the guidance with a fairly wide range, and we will work in eve

she is mary barra of general motors, and i can only say the response to who super bowl ad on norway withl ferrell has been absolutely phenomenal. if she can run a company like she can run a super bowl ad, she has got it made. 8:30 this morning, mary barra of gm. finland -- you are in sweden. ♪ >> the question for me will be how persistent is it. >> how much of a pop and prices do we get out of the economy open and consumers having money in their pocket? second, how sustainable is it? >> able to get people broadly vaccinated. we will make big improvements on unemployment. it would not be surprising to see the cyclical elements of inflation build. >> policy will remain prominent despite the reflationary pressures building. >> there could be some momentum building behind. >> we will get the reflation of airfares and hotel rates. >> most of investors believe the inflation and rising rates are but out there. that is probably more downside risk than huge upside. tom: fixed income, front and center. she knows pimco does a lot in the equity space. how does this go over to the equity markets. bon

guy: that is gm ceo mary barra baking with david westin.s is a problem because as we switch over to ev, these car companies are dealing with brand-new supply chains. i'm wondering how anywhere bumps along the road we are going to see and how big of an impact we can see on profitability as we work through the teething troubles of making these new supply chains work. david: i think we will see quite a bit. one of the things mary barra said is that profitability can reach parity end of this decade. looking at closer to 23rd. what happens with the promise of general motors and other companies depends on how quickly the market switches over to those vehicles and also how quickly they can get the cost down. one thing gm has talked about is reducing the cost of battery packs from 60% to the cost of the current chevy bolt. it is still a struggle to get to proper parity with vehicles that we drive every day now. as far as bumps in the road, look at some of the places we get these men are -- materials. political instability, trade issues, geopolitics

i think these stocks go a heck of a lot higher because again, if mary barra goes from where she is right now to even just 40 or 50% of her fleet being offered as an ev which is what they're trying to do and by 2030 or 2035 even the whole fleet, there is not enough out there for these folks. so any of these companies in that exploration and delivery of lithium and so forth are going zoom and they're going to put all of these other stocks we're talking about, leave them in the dust because that is the next big play right now >> all right we will take a quick break when we come back, dow component disney reports after the bell tonight. also shares are up big andhe t investment committee takes their position we're back in two minutes. what a ride! i invested in invesco qqq a fund that invests in the innovators of the nasdaq-100 like you become an agent of innovation with invesco qqq you packed a record 1.1 trillion transistors into this chip i invested in invesco qqq a fund that invests in the innovators of the nasdaq 100 like you become an agent of innovation with invesco qqq when you've go

and mary barra is so committed to ending fossil fuel calls and i think you will say to yourself, tesla is going higher, ellis, and bitcoin, and mary barra will not be left behind, in the same way that jim farley would not be left behind at ford, and david, it is kind of a, an incredible moment, where you see short-term oil going up, and yet you have people at major companies, by the way, a major countries, we could make fun of, but that are so committed to getting rid of fossil fuel, long haul car, whatever, and a move to green hydrogen, it is a clash of the titanss and i don't think it will get to 2030 with oil still climbing i think oil peaks. >> i do. >> you do? when you do speak to, when you speak to a mike worth, for example, who runs chevron, and/or any of the other ceos of the major oil company, they will tell you, listen, there is an expectation that that will occur over time, between now and let's call it 2040, but at the same time, jim, they'll still say the amount of money that was on cap ex this year was far below what was spent in 2013 when we were nowhere near, you know,

mary barra has gotten a lot of kudos for the effort she has taken.o in the mobility space, list earnings last night, revenue was down, ridership was down, but revenue per user was up, and the president giving a bullish forecast, saying the company's expected to hit profitability targets on a quarterly basis -- did not say what quarter it would be, but said it would happen this year. uber earnings are coming after the bell. they are expected to be either tom positive -- ebta positive. we did the coca-cola earnings early this morning. largely, their revenue and unit case volumes were down, but not quite as bad -- the drop was not quite as bad as what the street was looking for. that is why you see shares up. twitter -- also interesting -- i know you are big on twitter. earnings last night, 40 million added users. tom, you're doing something right here with trump off the platform, it is all up to you. tom: it is up to me, but if i delete all of the acts that come into my twitter feed, how do they make money? romaine: i'd know. it is a mystery to me. how

manus: that was the general motors ceo, mary barra, speaking to david westin.'s get back to the big conversation. jay powell says the u.s. job market remains a long way from full recovery and called on lawmakers and the private sector to support workers. this comes amid the ongoing to play over in -- debate over inflation. the head of allocations and macro research joins us. a nascent cpi but are you convinced? pimco saying there will not be any inflation. larry summers is worried they could run hot. you see a temporary spike. when will that, and what does that mean to the market? good morning. >> good morning. it will mean a threat regarding change in inflation. we are in a disinflationary environment as indicated so there is a long run which started in the early 1980's. what we have to think about is a regime change regarding from disinflation to a re-inflationary environment. this is what it is in markets. and then we have to discriminate what is an inflation spike and a regime shift. it's two different things and what could be a concern for markets? is not

we talk with mary barra, the ceo of gm, and they predict as much as $1.5 billion short or $2 billionat chip shortage appeared we will keep you apprised of that, but apparently the white house is paying attention. in the meantime, it is day three in the trial in the senate of former president trump, as the house wraps up their case and moves on to the defense. we welcome now our political contributor. welcome. always a delight to talk to you. where are we at on this? a lot of dramatic video has been shown. g

gm ceo mary barra tweeting, quote: he was a wonderful leader who led with empathy, integrity and authenticitye chance to interview arnie multiple times throughout my career, most recently at the world economic forum in davos, and i will miss him. arnie soren seven was 62 years old. we're coming right back. ? not until i'm sure. why don't you call td ameritrade for a strategy gut check? what's that? you run it by an expert, you talk about the risk and potential profit and loss. could've used that before i hired my interior decorator. voila! maybe a couple throw pillows would help. get a strategy gut check from our trade desk. ♪♪ the lexus es, now available with all-wheel drive. this rain is bananas. lease the 2021 es 250 all-wheel drive for $349 a month for thirty six months. experience amazing at your lexus dealer. for $349 a month for thirty six months. my body is truly powerful. i have the power to lower my a1c. because my body can still make its own insulin. and trulicity activates my body to release it, lowering my blood sugar from the first dose. once-weekly trulicity responds when my bo

let's talk about autos i've been speaking to mary barra and jim farly. tends not to be the highest end chips. who is the shortage coming from and what can you do to help these great american companies >> look, there are hot spots in the industry where there is shortages because of capacity. none of that really when we talk about shortage, the velocity which demand came on and then semi conductor, you have a shipment the orders came on so strong that we're not able to keep up but we do have the capacity especially for on. for the chips we're able to support capacity we started to the new demand and we're going to be through this in one or two quarters that's what we're able to do now, of course, we do have some products that are being used by auto makers and we're directing some customers who may not use our products that we do have some co-apacity we can give them if they are seeing shortages and that will increase the growth in the outer quarters. >> that's terrific if i were a shareholder, i would be torn here and the reason why is this i want you to m

mary barra, i want one put me at the top of the list. >> what a run, it's basically doubled in six months. it's a stunner it's a stunner. >> yeah. so the question then, scott s what's the right multiple for this before the recession the right multiple was six because nobody believed they could stay profitable during the recession. they blew that out of the water and were massively profitable last year and that multiple interest go to double digits ten times and that should but the them at $60 by summer. beyond that and it's the ev and cruise business that will take them to 80 probably next year. >> forward p-e of a little more than 8 1/2 it brings us, if you go evs let's talk renewables because energy has been a bang-up place, too. up 16% year to date. weiss, you own brookfield, renewable energy partners and the global clean energy etf which is the icln, as well >> right, and i sold wynn systems and a very thinly traded stock even though it's a large cap, but it's acting terribly and also exposure with a.y. which is a yield play and renewable energy look, i think they continue to go and e

paul: that is the gmc your mary barra speaking to david westin. don't miss our k-swiss of interview with mgm resorts ceo -- don't miss our interview with mgm resorts ceo after revenue dropped 58% in china. later on thursday in the u.s. in early friday on asia. more big interviews coming up in the next few hours. don't miss our conversation with mattel's ceo. and newcrest's ceo as well shery: and take a look at some commodities year today because we have seen such a rally when it comes to copper and nickel, platinum. copper finishing at an eight year year. we have seen a rally of 6%. and nickel also gained about 40% over the past 12 months. copper and nickel are unlikely to keep rising given the uneven market -- tight conditions, and you see wti nearing $60 a barrel. jack ma has been spotted working on his golf swing. a new sighting may provide some insight into china's most talked about tycoon. that is next. this is bloomberg ♪ >> this is daybreak asia. secretary -- fed chair jay powell is calling on lawmakers and private industry to support worke

neil: you know i did notice, mitch, gm, mary barra had no interest in it at least thus far.> listen, some of the big three automakers had no interest in electric vehicles as well. neil: you're right. >> maybe they had no interest in seatbelts once upon a time. i think they're late adopters. but what is interesting, bny mellon, you know, on leading edge of this, i believe it is the oldest financial institution in the united states. i could be wrong on that. so, you know the fact of the matter is they're on leading edge of it, tells you that their customers are asking for it. neil: it is very true. certainly bny has the street credit. it might spill over into cryptocurrencies. very good seeing you, mitch roschelle. macro trend founding partner, a lot more. we're down 146 now on the dow. there are a lot of possible wrinkles here, not least of which could include the idea a hike in the minimum wage to $15 is now going from the house to the united states senate, not just clearing a committee but the entire house. so now, senate, it's your turn. ♪ incomparable design makes it beau

and mary barra's commitment to being carbon free in the mid 2030s.rogen doesn't work right now unless it's imported by a government and i -- and we do not have that >> price of hydrogen they say is expected to decrease rapidly >> he's using the 9 to 2 >> we've had so many of the koceos coming on who talked about their technology i just want our viewers to listen to a few of the claims we've questioned aggressively over the last few months take a listen. >> the most telling metric of where any electric car company is today is a single metric. and that is efficiency we can go well over 4 miles per kilowatt hour. this is world class technology here in the u.s. we're going to take the tank to the next level >> we offer both battery and hydrogen electric and go the grid buffering that's how we get the energy cheap to broker back to the fleet. >> we're enabling our customers to go farther on a single charge and also we have the best fast tracking capabilities today. we're charging large capacity, large commercial vehicle batteries in 30 minutes or less and

at 80 nancy pelosi is speaker of the house, at 59 mary barra is the head of one of the world's biggestnbc�*s mika brzezinski wants to change our perception of what older women can do. she's teamed up with forbes to highlight the contribution of 50 women over 50, and i'm so glad to say shejoins us now. what made you think of doing this? why launch 50/50? {lister what made you think of doing this? why launch 5050?— what made you think of doing this? why launch 50/50? over 50, impacts careers and later _ why launch 50/50? over 50, impacts careers and later in _ why launch 50/50? over 50, impacts careers and later in life, _ why launch 50/50? over 50, impacts careers and later in life, i— why launch 50/50? over 50, impacts careers and later in life, i was - careers and later in life, i was talking about hanging in there, and... ~ . talking about hanging in there, and... . ., ., talking about hanging in there, and... ., ., , and... we have a problem with the line. and... we have a problem with the line- your — and... we have a problem with the line. your line _ and... we have a problem with

. >> we will hear from mary barra, very serious, building a fort unand we had a great breakdown on evivian, i know a number of well thought of investors who are early there. and obviously -- >> ford. >> right, ford, and a lot of those that i know, they've been to the plant, they talk about this ceo as though he is the next bezos >> yes >> lucid i thought we had a great interview last week. >> and they have talking $50 billion. >> too expensive it is like the company, that you know, when you did the battery company and took to 46 billion >> took it to 46 billion. >> i did not have anything to do with taking it or going anywhere. >> yolo. >> it did that the market took it there >> for a while, it was more than gm's market value. but not anymore. although gm is down on those numbers. 3.4% >> i don't like it carl, what am goying to do i don't like it. i was getting up this morning and i was happy because it was my birthday but then i read the piece about how spacs are going bad, and how they're one side and andrew's space and i want to know people to know i started with a chip shortage so

to get it so we have zero emissions, it's the customer that is pushing the truck, and mar why, mary barra making the point, and they always come up with the caveat, in the 2030s, oil will still be here and when i look at the amount of money that is coming into this group and the funding and david mentioned it earlier, yesterday, the funding is so significant, i think it is entirely possible that they can pull this off faster than people realize. >> to your point about the legacy oil, s&p did dgrade some of the oil, downgrade some of the oil majors on credit, sweeping downgrade on both ends of this candle a quick break here eng lln less than ten minutes. back in a moment the holidays weren't exactly smooth sledding this year, eh santa? no, but we came through smelling of mistletoe. the now platform lets us identify problems before they became problems. if only it could identify where my ball went. this you? hmm... no, mine had green lights. whatever your business is facing. let's workflow it. maybe i should workflow my swing... servicenow. sfx: [sounds of everyday life events, seen and hea

. >> the battle ground is 2030 and mary barra at gm is doing incredible things. farley is doing incredible things f-150, you can plug everything in with an office in your truck but i think 2030 is something that an exxon will tell you is completely preposterous but you have walmart, interesting meeting that i didn't get to talk about because i thought doug would do some great things and you have outfits like amazon saying listen, we won't tolerate this amount of fossil fuel, you have hydrogen, green hydrogen which is very expensive right now but good for long haul, and do you have the possibility of some new scanners being developed by president biden, a lot of people are talking about president biden, away from this, just saying, look out, he's looking at what's happening with natural gas and what is the pastiche of our grid and how much can be solar and how much wind. >> and i would love for you to tell me and i believe a lot of people would benefit if you can figure this out, it's unclear you can, who will have the best battery technology we know everybody com

we talked to mary barra when reports were bubbling up we asked this specific question, what does it meangets into this game here's what she had to say. >> we consider apple to be a formidable competitor, we're working with all the capability we have, with our technology to go as fast as we can, to really satisfy and delight the customer in our vehicles and create that relationship and just a incredible overall ownership experience >> one other auto stock to take a look at, ford, and we're showing you ford, obviously because of the implications it would face if there's an apple car but also because ford will be reporting its q4 results after the bell today and guys, i'm sure there will be some questions during the analyst call for ceo jim farley about the landscape in terms of competition. maybe not a specific question on apple getting into the auto business as an auto maker, but clearly this is a space that is developing quickly and, again, we have talked with multiple sources who say that apple and hyundai kia, they are moving down the path towards finalizing a deal for production of an

2025 expect that to be a big part of the conversation between analysts and paul jacobsen and ceo mary barra thank you >>> the chamber of commerce is naming its next chief executive. suzanne clark will take over the nation's largest lobbying organization next month. she'll be the first woman to lead the century-old organization she joins us here. thanks for being here, suzanne so many topics to talk about the last four years for everyone, there are conflicts and, you know, different ways to think about things for business, versus conservative ideas, versus populist ideas versus the trump administration can you just describe priorities for the -- you know, your organization and how you navigated those. >> well, first of all, thanks so much for having me this morning. and, look, i think any organization, any business, any media outlet know we're successful if we stay in touch with our purpose and we know what we're doing at the end of the day, the chamber of commerce, we wake up every day and say what can we do to help job creators we know what a job does to the family and community, and stayi

i had a conversation with mary barra last year, the ceo of general motors. about the future of the auto industry and the propulsion in the auto industry. and interestingly enough, he said -- i was trying to get her, convince her from gm to join these other five auto companies in the agreement with california and a bunch of states. and she said i'm all in on electric. i know that's the future, that's where we're going. she said, i need three things, and the industry, three things in order to be successful in this regard, with respect to electric vehicles and hydrogen-powered vehicles. one, she said, we need easy access to charging stations and fueling stations for hydrogen. we need technology that, where you have the batteries that can recharge in minutes, not in hours. and she said, we need the ability to get range to at least 300 miles for a vehicle on a full charge of the battery. those are three things we need. one of those is something this committee can do something about. and the -- i'm sure my colleague, senator capito, remembers this. when we passed