buy for the motor company moat. the marshal for medical or 100 medical just if you. couldn't obsession with looking to do more with and to whom he in this mission close. to me the only person in the history of the world we. live in sydney would think it would. make for me. to see the thief in cool. innocent them around them so. perfectly that it was the 5th shelf human infant obsessing over her. you know one of the. you know if you are sure you have a lot of times it's these few cold drinks i supported i just got up with 2 suits of clothes to school to took to school siege to north mission it was just have. the blessing. of the machine. for sure the result of a good number of the student bush. president bush or the. sharper that figure out what's what that was for to put that in we. sure the loser of the if i could get to specifics of our most beautiful sound bites about all of the everything that could be. distributed. to feel good about it. but of course we moved from. good fish to know where you're going to. see someone you think systems. could. look to not from t

motor company moat. the marshal for medical or 100 medical just if you do the connection with lifting the 2 more to whom he insists misha close. to me the only person in the history of the world we. live in sydney would think it would. make for me. to see the thief in cool. perfectly then it was the 5th shelf human. seen from a hard. to. the. finish you know our son who had the course says this is. part of the gist of peace. suppose the school he took to school siege north mission to save. the planet. is the machine. for sure the result of a good number of the student. to cut through. some. of the recorded history of the. project we want to sharpen up figure out what that works to put that into. your the loser having a fairly good it's a specific a sound marketable particularly because that particular. you start. to do good but if you can do to recoup some of the money because we moved to the. beautiful you should know where you're going to finish to someone you think specifically. from the he side. dish

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we have been working on this very long and very hard because general motors left the plant. this big company -- i guess general motors is your partner -- they went in and have an incredible vehicle. how many will you make a year? >> 100,000, once we get started. pres. trump: the four wheels are called a hub motor. this is the only one that does this in the world, and it has a lot of advantages. wheel drive.four a computer and a motor in each wheel gives you the best traction possible. if you look 50 years out, cars will have simple hub motors. pres. trump: this is the wave of the future, the first time it has been done. it was thought of for a long time. it gives you room. up truck first pick with a trunk, that is in front. we call it a frunk. a toolbox backte here because you can put things up front. >> this is exciting. lordstown, ohio got a got punch when general motors decided to stop making chevy. 1500 workers lost their jobs. they reduced workforce over time. this was the biggest employer in the valley where lordstown is. we are calling it voltage valley, because we have this pickup be

ford motor company executive bill ford joins us live, the details, next.number right there, 860,000 people filed for first time unemployment last week, that's about 10,000 more than predicted more than 60 million americans have filed for unemployment since the pandemic started in march. and speaking of jobs, a major announcement from ford motor company this hour. the detroit auto giant unveiling a $700 million investment creating hundreds, 300 new jobs, producing their all-new f-150 pickup joining us we've got the executive chairman of ford motor company, bill ford joins us from dearborn, bill, good morning to you. >> good morning. steve: tell us about the new pickup. when i was growing up in kansas we had an f-150 and i've always had a soft spot in my heart for that. >> well, you know, you weren't alone. its been the best-selling vehicle in america for many many years, and in fact we make every 52 seconds one comes off the line, but this is going to be very different. we're building an all-new, all- electric f-150 that's going to be on the road in two yea

it is kind of similar to how the ford motor company set it up in 1956, where a set percentage of all the votes remained within the family no matter what. when it comes to palantir, the same principle applies, where peter thiel, ceo alex karp, and co-founder stephen cohen, will retain control of 49.99% of all of the voting rights in perpetuity. fromhas sparked concerns expert to have criticized it for enabling peter thiel to have power without accountability. emily: what are investors saying? does it matter what oprah governance experts are saying if investors want to buy in no matter what? lizette: the experts i have been speaking with, one of them a long time investor, his opinion was, these guys have taken us this far in getting the company to more than a billion dollars in revenue and to turn a profit on an adjusted basis. his take was, i trust them to take us the rest of the way. there were some thoughts from other investors that palantir, because of its sensitive work with government agencies including the department of defense and the immigration customs enforcement agency, whi

could you imagine the ford motor company saying that he 9% of our seatbelts work, so we are ok?ne starbucks saying 89% of our drinks don't poison our customers so we are ok? success for stop hate for profit is engaging attractively with facebook so they show accountability and transparency that we have not seen to date. what comes next? we will work with corporate advertisers. emily: do you have more boycotts, freezes plant? jonathan: i can tell you this, we are now thinking about the next action. there are other constituencies that want to engage. i think we can move from corporate advertisers to hollywood celebrities. there are more segments of society, we will engage. this was not a one-shot deal. this is just the second salvo in an ongoing campaign to push facebook once and for all to stop hate for profit. emily: all right, jonathan greenblatt, ceo of the antidefamation league... usually important issues that you are fighting. thank you for taking the time to fighjoin us. still ahead, the lasting impact of the pandemic on silicon valley. more with my exclusive conversation w

say the ford motor company that has a -- they told me they had a 25% absenteeism rate when i visited them over the august break. why? because people weren't coming back to work because of the benefit that they were -- that they had been getting of $600. so it's small businesses, yes, but it's also ms.-sized and larger businesses. it's also a lot of nonprofits. i have heard this from hospitals. i have heard it from people that provide addiction services, recovery services, treatment programs. nonprofits are having a hard time getting people to come back because again the $600 on top of the state benefit, average let's say $350, $950 a week was more than they were able to pay them. so people were making more on unemployment insurance than they were at work. this was as the economy was starting to pick up, we needed jobs. so how about $300. why didn't we pick $300? well, again, $600 is so generous that it's paying people more. by the way, the congressional budget office, a nonpartisan group here in the congress analyzes these things. they analyzed it. they said if you continued the $600

these shortages they had gotten pledges from major corporations, including general motors, ford motor company, everybody was ready to jump in. so they went on a saturday evening to the white house and jared kushner chaired the meeting. and they essentially urged him to have trump invoke what's called the defense production act. which would have unleashed the power of the federal government. and they were just flabbergasted by the response that they got back it was confrontational right out of the gate. he said the federal government is not going to lead this response this is going to be up to the states to figure out the free market will solve this. he believed that, and you know, there were top business people in this room, and none of them thought that that could happen given the finite supply of equipment and masks. and they urged him to reconsider and they cited cuomo as an example of, you know, a state desperate for supplies and his response, which stunned them, was basically it's his fault. and if his people don't have enough ppe, that's their problem. and they're going to suffer. >> th

the excitement of the trip when the performance was shown on cbs television as part of a ford motor companyponsored documentary. it really is an extraordinary interesting cold war document. i wish i could show it to you. but the only place you can see it is in the new york philharmonic archive. it does capture a powerful cold war episode. i discuss it at length in the book. overmany decades, classical music and those who performed, composed, listened to and wrote about it were drawn into and swept up by the whirlwind of america's global challenges. now the music itself did not help the country overcome those challenges. i'm not claiming that it did. what it did do though was it offered americans a way to reflect upon the world. countless people over many decades fixed their ears and eyes on the activities of classical musicians, on the work of composers and on the labors of leading musical institutions like opera companies and great symphony orchestras. the museic and tic and the work performers helped the nation, as i suggested earlier, grapple with the meaning of patriotism of loyalty, of

learned was of a man named webster wheeler who left georgia for detroit and a job with the ford motor company as so many people did. in 1923, he heard that his family was participating in building a school and he came back, not permanently, just to help build the school. he was a carpenter. this is marion coleman. she is his granddaughter and she's the curator of a museum in that school. this is one of many restored schools that tell this inspiring story. when legally enforced segregation ended, in many places the school houses which were very rural and small, some of them fell apart, some of them disappeared, some of them passed into private homes. but others have been saved by a combination of alumni passion. in 1928, having retired from sears, he reorganized his fund and hired a professional to manage the fund. with his enthusiastic support, the fund introduced a new program to invest in people. they had invested in children and young people with the schools. now they were going to invest in fellowships to individual scholars and creative workers of particular merit. almost 900 of these fe

company. all the technology for this groundbreaking car has been developed in house. batteries, motors, invertors, electronics. >> the base model with an unspecified mileage range will start at below 80 grand. production is due to begin in early 2021 at the company's plant in arizona. >>> a pop up becomes permanent because their tacos may just be the best anywhere in the bay ♪ ♪ ♪ ♪ the $6.99 super slam is your perfect meal, it's buttermilk pancakes, eggs, sausage, bacon and hash browns. it's enough breakfast for dinner and it's as good as it sounds. see you at denny's. >>> coming up on abc 7 news at 6:00 a psychologist helps us make sense of the scary sky and process our feelings. it turns out kids might be better at handling this than adults. we'll find out why. >>> and the pandemic changed how we work and how our kids learn. working parents are sandwiched between both struggles. could paid leave help build a better bay area? those stories and a lot more coming up on abc 7 news at 6:00. >>> finally tonight, an east bay family seeing their dream come true despite the pandemic. >> they

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action industrials are working and this rotation into a lot of the underowned names like a ford motor company some of the even energy stocks that had been really kind of let behind. >> joyce had, you know, fed chair powell always gets criticism no matter what he does or at least, you know, traders blame him for the selloff. is there any reason to think that any of this was fed induced? we did see the selling yesterday. the maybe traders didn't get more, any fresh data or fresh impetus for stimulus from the fed? >> it seems at least 2023 based on the new inflation guidance. i you don't think it's a message from the fed some of this was coming because the market rallied the focus is also turning towards the u.s. elections and, you know, uncertainty around just how long it might be to get a clear result reported out. so i think that's going to continue as we go into the presidential debates later this month as well. >> stephanie, i mentioned it there at the close the oil price strength but other commodities have been strong of late as well what do you make of that >> well, you know, i cited copp

there's the president, south lawn of the white house, looking at an electric truck made by the ford motor companyear that each wheel has it own motor, computer-controlled. so i think that's just extraordinary. >> yeah. general motors, this endurance truck was set to debut at the detroit motor show -- stuart: oh, it's a gm truck. >> yeah. stuart: i'm sorry. >> that's okay. they wanted to show it off because the detroit motor show canceled this year, as you know, because of covid. stuart: and there you have an electric truck from general motors. >> yes. stuart: he hurries to correct himself. thanks very much. let's see. we're counting down to tomorrow night's debate. will joe biden make any kind of gaffe? [laughter] we're going to speculate, okay? >>> supreme court nominee judge barrett could be confirmed in just a matter of weeks. watch this. >> we'll start on the 12th of october, and on the 15th we'll begin the markup. we'll hold it over for a week, then we'll report her nomination out of the committee on october 22nd. stuart: all right. if she were confirmed, and i think she will be, what effect

. >>> let's move on, motor company nikola, a bright spot today in a sea of red.new partnership with general motors. susan li. give us the details. susan: up as much as 45% this morning in the premarket. general motors was up as much as 9%. still holding on to their gains a little bit. general motors paying two billion dollars for the 11% stake in nikola, which is the electric truck maker. nikola has never sold or delivered a electric truck but they do have $10 billion worth of deposits on future orders. gm stepping up with cash but also expertise in building, nikola's marquee, high troh again powered badger that will be released in 2022. electric trucks are the future. big growth opportunity. nikola can scale more quickly. tesla sass, nios, the workhorses of this world they are pretty concerned i'm sure. ashley: tesla took a number of shots this morning. now bill gates taking a jab voicing concerns over some of tesla's new products. what is that all about? susan: tesla is down 15% at the session lows. we have a long-running dispute between the two billionaire mig

ford motor company, they've announced that they'll be laying off 1400 white-collar workers by the endr. they say it'll be done through voluntary buyouts, however, the stock barely budging, still in the 1 dollar per share range. next case, what do we have here? the next one -- i want this. i don't want to buy it, pelaton up 200% this year, jumping again today because jp morgan raised their price target on the stock. lauren, come into this, please, where do they say is going? lauren: $105. so they raised to 105 from 58 making it the highest on wall street where the average is about $67. look at the stock trading at 90 and change. here is why jpmorgan is so bullish. they think pelaton have what i call high-class problems, delivery times, average 6 to 7 weeks, suggests that pelaton can't keep up with strong demands even as gyms start to reopen. we get the earnings next week and the company and many others are bullish on them. look at the stock, just about tripling this year, stuart. stuart: lauren, i remember saying earlier this year that the pelaton -- it's just too expensive. 2,500 for

move on to ford motor company.truck at the plant in dearborn michigan. the truck is back to $7 a share. we have formed's international marketing president. welcome back to the show. good to see you, sir. >> good to see you. stuart: the f-150, is it still the best-selling vehicle in america? >> it absolutely is. it has been for 43 years, something we're very proud of. stuart: okay, the new f-150, is it electric model? >> so we're launching the 21 model year right now today here at. it comes with a hybrid power train but we're also announcing we're making a 700 million-dollar investment here at the complex to bill and all-electric f-150 which will come to the market in about two years, in the middle of 2022. stuart: i am told that the electric f-150 is the most powerful version of the f-150 yet. i find that strange because i didn't think electric cars, give you more power, acceleration, yes, but power not necessarily. what is your answer? >> absolutely. it will be the most powerful f-150 we've ever built. it will hav

company has unveiled a new car designed to compete with tesla. check it out. this is the lucid air. the electric car is designed by lucid motors based in newark. he company says the vehicle is t lo longest range battery powered car so far. and that could get you from about san francisco to san diego. >> all the technology for this ground breaking car behind me has been developed in-house. batteries, our motors, inverters, electronics. >> the base model will start at just below 80 grand. production is set to start in early next year. >>> next at 5:00, a major fire is burning at the port of beirut just one month after the deadly blast there. we'll show you what it lo looks like. >>> and the orange glow everybody is still talking about. the question, will we see it again today. >>> and with the smoke and haze, a lot of people are rushing to buy because when i get home, we like to play crocodile on the floor o-cedar easywring removes over 99% of bacteria, even with just water... easy and truly clean floors o-cedar. it feels great to feel at home you can adjust youriggest comfort on both sides - your sleep number setting.. can it help me fall asleep

founder and executive chairman trevor melton said nicole is one of the most innovative companies of the world general motors is one of the top engineering and manufacturing companies in the world you couldn't dream of a better partnership than this the truck will compete with tesla cyber truck and it's expected to start production in late 2022. it looks like boeing is keeping qatar airways as a customer and the 2 sides reach a deal that would begin deliveries as early as 2022 meanwhile production problems of a specific plane model have boeing officials answering again to the f.a.a. charges has the story. khatami become the biggest purchaser a boeing 777 x. planes as the company commit to take all 60 aircraft at a house on order all this as the f.a.a. investigates potential manufacturing flaws in some of boeing's 787 dreamliner zx. today boeing confirming qatar is moving forward with 6770 x. planes the company's largest fleet by far the 1st aircraft arriving in 2022 and deliveries will continue to 2029 qatar c.e.o. akhbar all baker said in the statement it is a very good airplane and we will take them all fo

multinationals companies like intel micron general motors qualcomm starbucks the list goes on that are deeply reliance on the chinese market for their their growth so they would simply be much smaller companies if they did not have this very significant market in china and then the final thing is you have literally tens of thousands of mainly business people from taiwan that are resident in china and you have a tens of thousands of u.s. citizens also living there is an extremely extremely close and in twined economic relationship so how does this not a regional mean for us. well i think that. if you look around the region and almost anywhere you everywhere you look you see the sources of tension already already very much alive between china and its neighbors if you look in the south china sea if you look at the east china sea around the same kaku islands or the gal you tie if you look on the indian chinese border there's already real tensions there almost every one of india's china's neighbors rather it is already involved in some kind of conflict with china if you look at again vietna

he had worked for a solar energy company for several years before he decided to try to make company as motor bikes cleaner with his startup zembla he now imports cutting edge electric motor bikes from china. each one sells for about a 1000 euros that's quite a bit of money. the drivers can pay over a period of 2 years. and the bikes are tailored to their specific needs here our driving mode is different than chinese person commuting to work here we really look into productive he was and hundreds of kilometers every day. for a small fee of just over half a euro. can exchange to botching playfully charged one. this important like so full of grain since the electricity comes from the solar energy on top of the company's beauty. this green technology behind francis of deliveries is a sign of hope in 2 ways providing for people's needs in the local dollars and for clean the country was the pandemic is over. great ideas but the question arises what will mobility look like in the future this is an increasingly important question for large metropolitan areas in europe and mission free electrical sol

company of fraud. that landed just after general motors took an 11% stake in the company. did they do their research?oining me now is tim o'brien. the story has captured the fascination of many. how could gm have mixed -- missed this? did they do any research at all? there was a report that set the solid motion over the last 10 days or so. -- set this all in motion over the last 10 days or so. our bloomberg reporters - -- it should not have been news to gm when the report landed. the question here is, what were they looking at and considering when they decided to do this deal? remember upfront the financials on this deal were very good for gm. she got an 11% stake in the company without putting up any cash. nikola harvest of the environmental credits that nikola has around this line of production. there were a lot of good, smart financial details. ideailds around the that trevor moment is a show man and snake oil salesman who sold gm a bill of goods. the deal came to gm through steve gursky. is, did thequestion ceo relied too much on judgment in this? she has said publicly the lawyershad an armada of

evaluation you can see the same kind of thing show up for other companies in space over the next number of months you know, general motorsly company that really wants to see some exciting participation here you know, i would expect some of the europeans to be very active in conversations with potential partners and obviously the chinese oem tied up as well, ballard has very interesting chinese partners overall, the space i think is vibrant going through a lot of evolution and, you know, i really have to give credit to tesla for getting the party started. >> yeah. bearish but not telling people to short it. that's worth noting. craig, thank you >> thank you. >>> after the break, take a look at shares of stitchfix moving higher after deutsche bank calling it one of the best possible beneficiaries of lock jouns. that stock has been on a tear over the past month. up nearly 30%. we'll keep an eye on that. mo "ua aeyisexresqwkll" nt. when the world gets complicated, a lot goes through your mind. with fidelity wealth management, your dedicated adviser can give you straightforward advice and tailored recommendations. that's the

realizes that they could out me me tesla as a me and they introduced their mean like company on to the exchange general motors was poised to buy this me because everyone wants to be in the main business because just like 20 years ago 30 years ago during the age of financialization every company wanted to be in the financial ization business so drug companies car companies manufacturing companies started to trade derivatives and make more money on their cash desk than they were making with the actual product that was listed as their primary source of revenue that all changed now you're going from financialization to mean if occasion and that is part of the neo feudal is a sin because all the equity has essentially been stolen and i knew you know when i established the hollywood stock exchange back in 1906 that you could make a huge market trading nothing but means and also that disproves the mises regression 0 that was disproved by my invention in 1906 but nevertheless here we are in 2020 and it's means all the way down well you know we started with the headline that companies are taking themselves private eye

he says there is a warning that in five to 10 years, companies like his, wn motors, and some of the otherst to chip away at his market share. a warning that tesla may not have that market lead in five to 10 years time if they have their way. haidi: tom mackenzie there in beijing. let's get you a quick check of the business flash headlines. prices have little room to rise in the next three months. to curb-19 continues demand for energy. renewed travel and social distancing restrictions are dragging on demand. commerce bank has named a new leader to push through one of the largest restructuring programs in history. the current head of german retail banking at deutsche's will be taking the reins from the outgoing leader on the first of january next year. we have a lot more to come. this is bloomberg. ♪ so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america. but is it secure? sure it's secure. and even if the

multinationals companies like intel micron general motors qualcomm starbucks the list goes on that are deeply reliance on the chinese market for their growth so they would simply be much smaller companies if they did not have this very significant market in china and then the final thing is you have literally tens of thousands of mainly business people from taiwan that are resident in china and you have a tens of thousands of u.s. citizens also living there is an extremely extremely close and in twined economic relationship so how does this matter to regional neighbors. well i think that. you look around the region and almost anywhere you everywhere you look you see the sources of tension already already very much alive between china and its neighbors if you look in the south china sea if you look at the east china sea around the same kaku islands or the deal you tie if you look on the indian chinese border there's already real tensions there almost every one of india's china's neighbors rather it is already involved in some kind of conflict with china if you look at again vietnam in t

of right now. >> then one related question i see you're going to get a board seat on the company, general motorsor gm, like a first look opportunity to ultimately buy out this company and take it inside of general motors >> you know, i think we're very focused on working in partnership with trevor, his team they've got a strong team and a great vision and that's what our focus is is working together and seeing both companies grow >> and related to that, mary, because we're looking at the stocks moving. it's an unbelievable thing nikola now up 42% this morning just on this news. your stock also up, mary, up over 7%. you look at the valuation, nikola, it is -- it's about 25% of or maybe closing in higher this morning of your own valuation. does that make sense to you? as someone who's been in this business a very long time. >> well, i think we're leveraging all of the skills and capabilities that we have. you know, a rich and very accomplished engineering -- design/engineering team, manufacturing team leveraging global sell with purchasing we're going to continue to advance our goal to create an a

seller and bird research accused the company of being an ocean of lies essentially a fraud well the electric truck maker also recently made a deal with general motors where g.m. took 11 percent stake in the company the 2 companies plan to build an equal a badger pickup truck a g.m. c.e.o. mary barra signaled the company is standing by its deal. 2020 keeps on throwing those punches so far this year the u.s. had $10000000000.00 worth of weather related disasters setting a new record as artie's alex mahela which tells us this has not only hurt the nation physically but also financially. from hurricanes in the gulf. to wildfires on the west coast. when it comes to the us 2020 has been unforgivingly beyond the coronavirus in terms of wildfires which of primarily hit california and oregon more than 30 people have been killed thousands of structures have been destroyed and over 5000000 acres scorched many are blaming climate change we're in the midst of a climate of urgency where in the midst of a climate crisis we are experiencing weather conditions the likes of which we've never experienced in our lifetime we're experiencing what so many people predicte

general motors apparently rethinking its deal with the electric truck company called nikola. this comes as the ceo and the founder of nikola steps down accused by short sellers of making false statements and misleading investors. general motors is extending the negotiation period for its investment often the first step in stepping away. the company's stock was down better than 7% yesterday. now we asked our artists to show us a picture of the nikola truck. i don't know why he did it exactly like that but this has been an embarrassment for the company. the company at one point accused by the short seller of videoing the truck in motion but actually the short seller says pushing the truck downhill. it was just in neutral the whole way. there have been a number of allegations very serious allegations against that ceo as well. on the flip side companies that are doing well include palantir and velodyne and asana. they will start trading stock today. all bay area companies. asana on the new york stock exchange. poshmark and mcafee have started the paperwork to go public. this comes