by the pandemic and the 2nd quarter of this year and actually revenue fell by by half at general motors ford and auto suppliers like. cooper standard is this new version of ford is this part of this innovation to try to help. where you ford and all the other manufacturers are all working together to try and get autonomous cars again the biggest problem with coated the impact to the auto industry at least in the u.s. that well mostly globally was getting parts out of china because you can't produce a car that's only 99 percent complete on top of that they're still trying to ramp in back up to get product to market so it's going to take them a while to catch up i think by the fall you'll see the 4th quarter for auto sales will start to improve and globally you're starting to watch that happen as well. obviously comes a pretty hefty price tag we're talking about a lot of money that's supposed to go into this with these the auto sector already struggling and be hit by the pandemic who's in a position to actually fund these projects. we're going to see funding coming from from literally every whe

against mark or its head out motors ford and b.m.w. . since disappointment over 3 years ago he's been trying to make the comic this electric power train even more powerful on and off the track. you know what's your. people i'm not. just. to be able man these are. extreme. crimes to come up in the best insight. because it just. look like i'm going to. be by on speed i'm going to put in your life would be. i'm too pretty for me and with hope on both of us we. to the. great stake your. even after successful race weekend there's no time out for against my b.m.w. headquarters in munich you need something else head of electric power train research and development. complement the phones on zealand from monday. want to get a move. so feel. happy for how long. this was people really want to be going. to give. to. this this year and software as a mainstay what they need today is no prototype from the comedy bit student software let me explain why the power train for the i 3 is 100 percent b.m.w. engineering starting with the columns that transmit

audiences and hopefully the next generation and formula one has a huge history is a pinnacle of motors ford. champion from i want you to answer all to my all find your city. i mean look at the best buy you want to be the next morning down change all of the john diesendorf well i think is inevitable that the one event really becomes electric shock i don't know how that we have been or when but it's it's it's it will have to happen how i don't know because we have this is you know if you want to look race in order for train for 19 years now because if you see anybody lies and maybe we will work together maybe we'll find a solution i don't know but there we have to really. feel. major sport is taking in new direction for the future is electric heat for election fine. eat for emotional revolution is going into overdrive. if you want more read check out our you tube channel. if you want regular features about new cars and car culture and about mobility around the world can make you very happy. rich classics of future check or just some of the exciting content waiting for you. subscribe to us at

>> if you made me buy something, i would probably like to buy general motors, ford, exxon, chevron, thes. they seem relatively inexpensive, relatively cheap, and likely to do better over the course of the next 2, 3, 4, 5 years. will i buy the faang stocks? not with tom's money. i will let someone else do that. i'm a believer this will be a w or i like this k version of economic rebound. we are bouncing a bit but will we have the same number of hotels and restaurants come the same number of small clothing operators that we had eight months ago? not for very long period of time in the future, i'm afraid. anna: what happens to our cities is a big question. thank you so much for joining us, dennis gartman. "the gartman."of elector." , salesforce.com ceo joins us later. this is "bloomberg." ♪ donald will not rest until he has done all he can to take care of everyone impacted by this terrible pandemic. >> he has in of the unfair trade arrangement with china that punched a hole in our economy. those jobs are coming back home. >> right now our economic health is coming back with emergency spend

of ford motor company effective october 1st jim packet is set to retire after 3 years at the wheel of the american automaker to change up at ford comes as the company's looking to update its aging model line with a new line of vehicles including electric and autonomous vehicles. the e.u. is launching an investigation into google's proposed takeover of u.s. firm fitbit and that's due to the amount of personal data the wearable devices can collect about the use or the european commission worries data could be used to entrench google's position and personalized advertising. or gold continue to surge in value briefly touching an all time record of more than $2000.00 an ounce before retreating slightly. prices rising more than 30 percent this year driven in part by lower bond yields and a rush by investors into so-called safe haven investments in time of times rather of economic uncertainty. and let's get some more insight on this from our financial correspondent in new york yen scored a yen is what really is behind gold's rise here. it's an and credible run and when it one of the main fac

motors to manufacture ventilators. gm repurposed a plant in 17 days, an all-time record, and now has produced over 21,000 ventilators. we are also working with ford motor company and general electric to produce over 30,000 ventilators per month in michigan. they have done a great job. our nation is now the king of ventilators. we are sending them all over the world and helping a lot of countries that could never have ventilators. i guess we are looking to produce over 200,000 ventilators by the end of the year. those are some numbers. we are helping a lot of countries. in april, i directed 3m to increase its manufacturing of n95 masks. they had increased by over one -- by may, they had increased by over one million masks per day. think of that. the increased production by over one million per day. 3m is now manufacturing an additional 39 million masks per month. we also worked with honeywell to open factories in arizona and rhode island. they are now producing over 20 million masks per month. domestic u.s. manufacturing will have produced over one billion n95 respirators by the end of the year. they are all made here in the usa. overall, we have

you'll keep the charter or spinning to stuff is not a new invention like ford motor car has to rediscover a of something long forgotten like an abandoned child finding his long lost mother . to see them grow her. yes. gesang chad i hear no amount of job. let me. comment. on that in the know you all that. thank you joy of creation see anybody any a.t.f. you were to create something physical that gives you joy. and you can see that you are one. has become clogged and you anywhere do we added that joy i can only be blissfully the ban on any any man. branded shirts they get. off me and how. i got a hot rose on. a golf shot and yet. i can feel it in my hand and it has become strong enough to see if i'd be hard to beat so when you feel they've got a pension just because i'm going back on like you in your mind you can get it perfect. and i believe in you and disturb you can keep breaking. you something living wage a community to. make your life concentration and a lot of producing. the world of independent. and this small team nature and the whole country. has just come a look new to this idea w

up, and that's just a hair below the combined equity values, yes, with toyota motors, general motors and ford combined we'll have more on "rapid fire," i know you guys will, in the next hour. >> the new normal in the auto world. thank you, dom >>> we have better than expected earnings, stocks not fazed by the stalemate in washington. are we going to keep this rally going? steven whiting is at city private bank, brad mcmillan is chief investment officer at the commonwealth financial network good to see you both, thank you for joining us today steven, i know your feeling is the bounce we had economically after the collapse in march and april is over. so now what? >> well, look, over for the moment we'll probably have no job gain, close to zero, for august employment but for the coming year, for 2021, we revised up our u.s. global work projections. we can glow by a full 1% by the end of the year just to keep up this demand pace when you look at what happened over the course of the first and second quarter, we had a record collapse, we ended the second quarter with enough momentum to have a 25% g

motors to manufacture ventilators. kokomo,posed the indiana plant in just 17 days. that's an all-time record and is -- and has now produced over 27 thousand ventilators and we are working with ford company and general electric to produce over 30,000 ventilators per they've donehigan, a great job and our nation is now the king of ventilators. we are sending them all over the world and helping a lot of countries that could never have ventilators. i guess we are looking to produce over 200,000 ventilators by the end of the year. those are some numbers. we are helping a lot of countries. toapril, i directed 3m increase its manufacturing of n-95 masks and by may, they had increased -- increased to over one million masks per day. think of that. over one million per day, 3m is now manufacturing additional 39 million masks per month. we also worked with honeywell to open factories in arizona and rhode island, they are now producing over 20 million masks per month. by the end of the year, domestic u.s. manufacturing will have produced over one billion n-95 respirators and all of them are made right here in the usa. that's a big difference from the past. massve increased n-95 productions

. >> our nation is the king of ventilators working with ford motor company and general electric to produce 30,000 ventilators a month. >> reporter: the president relied heavily on briefings this week to get out his message, he will take a more direct approach next week hitting the campaign trail is democrats take off their convention festivities, trump reelection campaign confirming to fox news the president will visit four battleground states during the four days of the democratic convention including pennsylvania, wisconsin, minnesota and arizona. the weekend will see the president make his way to the garden state of new jersey where he will spend much of the weekend. a bit of a respite before kicking off the road portion of his reelection campaign into high gear and that means you and i will be very busy. tracy mack it feels like we're in the middle of the presidential campaign, the pandemic has put a pause on that. thank you so much. donald trump's younger brother robert is said to be very ill, the president visited him this evening at the new york hospital saying the two always had a

working with ford motor company and general electric to produce over 30,000 ventilators a month. >> whilehe president relied heavily on prethings this week to get out his message, he will take a more direct approach nexn trail as the democrats kick off their festivities. the trumpet election campaign confirmed with fox news tonight the president will visit for battleground states during the four days at the democratic convention including pennsylvania, wisconsin, minnesota and arizona. of course, that weekend we will see the president make his way over to the garden state of new jersey. and to be specific where he will spend much of the beacon. a respite i think is fair to say before taking off the roof portion of his reelection campaign into high gear. that means you and i, kristin, will be very busy. >> kristin: you know, kevin i was going to say it it is starting to peel finally in the middle of a presidential campaign. this pandemic certainly put a pause on that with that travel back. kevin corke thank you so much. >> you bet. president trump's younger brother robert is said to be ver

general motors to manufacture ventilators, gm repurposed the kokomo, indiana, plant in just 17 days, an all-time record, and has now produced over 21,000 ventilators. we're also working with fordompany and general electric to produce over 30,000 v ventilators a month in michigan. they've done a great job. our nation is now the king of ventilators. i say that, the king of ventilators. we're sending them all over the world and helping a will tlot o countries that could never have ventilators. and it's really -- i guess we're looking to produce over 200,000 ventilators by the end of the year. those are some numbers. so we're helping a lot of countries. in april i directed 3m to increase its manufacturing of n95 masks. by may they had increased production by over a million masks a day. think of that, they increased production of masks by over 1 million a day, 3m is now manufacturing an additional 39 million masks a month. we also worked with honeywell to open factories in arizona and rhode island. they're now producing over 20 million masks a month. by the end of the year, domestic u.s. manufacturing will have produced over 1 billion n95 respirators, and all of them are made right

motors to manufacture ventilators. gm repurposed the kokomo, indiana, plant in just 17 days, an all-time record, and has now produced over 21,000 ventilato ventilators. we are also working with ford company and general electric to produce over 30,000 ventilators a month. in michigan they have done a great job. our nation is now the king of ventilators. i say that, the king of ventilators. we are sending them all over the world and helping a lot of countries that could never have ventilators. really, i guess we are looking to produce over 200,000 ventilators by the end of the year. those are some numbers. we are helping a lot of countries. in april, i directed the 3m to increase its manufacturing of n95 masks. by may we had to increase production by over a million masks a day. think of that, the increased production of masks by over 1 million a day. 3m is now manufacturing an additional 39 million masks a month, and we also worked with honeywell to open factories in arizona and rhode island. they are now producing over 20 million masks a month. by the end of the year, domestic u.s. manufacturing will help reduce over 1,000,000,095 respirators, and all of them are made right here i

. >>> executive shakeup at ford motor company. jim hackett retires. ating officer jim farley takes over as chief executive october the 1st. the stock is up 2%. but ford still languishing at six bucks a share. boeing up four bucks. 2.7%. the faa outlining design changes needed to get the max jet flying again. two software changes. the stock is up 4.66 to 166 a share. the price of gold, has it hit 2,000 bucks an ounce? almost. 1998. as for the bitcoin, 11,156. it is down 100 bucks as we speak. the tropical storm storm that made landfall in north carolina as a hurricane has been downgraded, still dangerous, barreling up the east coast. janice dean is tracking it all. what have we got, janice? >> stuart, still very dangerous. 70 mile-an-hour sustained winds. 74 makes it a hurricane. we have tornado watches in effect for the tri-state area. not done yet. the storm made landfall between wilmington and myrtle beach last night. 85 mile-an-hour winds, it was intensifying as it made landfall. we have seen unfortunately deadly tornadoes in north carolina. a high-

streetlights weren't working, garbage wasn't >> the foundation started with the profits of the ford motorwalls of its new york headquarters is a 1963 ad from a new orleans newspaper. >> it said notice to all white citizens, stop buying ford cars and trucks. >> this was directly targeting the ford foundation. >> absolutely because the ford foundation was seen as a financier of civil rights. >> walk kmoers linows like the itself carries a complicated legacy. >> i'm lucky to lead a foundation founded by a man who was a great anti-semite and racist but a great philanthropist. >> you say as a country we need to embrace our flaws. >> we are as a nation boston those nuclear i was the. >> the 60-year-old walker who wields great influence came from modest beginnings. >> how did a great lakes kid with a single mom make it here? walker's mother was a nurse's assistant. >> she was determined that i be in head start. >> what did she know about head start? >> she knew that a lady in 1965 walked up to our little shotgun house in ames, texas and told her about this new problem that president johnson had

. >> there is a shakeup at the top of ford motor company, jim hackett who has been ceo and presidentf the company since may of 2017 is retiring october 1st taking over on october 1st will be jim farley who is the coo of the company this is a move that had been widely expected. the timing is a business of a surprise, nobody was quite sure when this would happen, but it's not a surprise that jim farley is taking over for jim hackett this is a company that under hackett has not been able to turn itself around hackett was brought in, he was a board member, previously he had done a great job at steel case the office furniture company in michigan and when he came in and he said, look, we are going to transform ford, get it ready for the future for autonomous vehicles, for electric vehicles. that hasn't happened ford has been mired in really not being -- making the move that it's needed to make since 2017 they are starting to change that a little bit some of that because of the moves that jim farley has made as coo, he becomes the ceo effective october 1st and the marching orders are pretty

fema is supplying 2.5 million of them ford motor is donating the rest. that is our up in date for this hour back to you, jon >> all right frank, thank you >>> still ahead, tesla turning in another huge week up more than 12% on the back of its stock split announcement weechlt speak with an analyst who just upgraded the name. plus, congresswoman maxine waters joins us to weigh in on the stimulus stalemate in washington and as we head to break, here's a check on bonds i am totally blind. and non-24 can throw my days and nights out of sync, keeping me from the things i love to do. talk to your doctor, and call 844-214-2424. >>> democrats calling on the fed to help address economic racial inequality a new bill called the federal reserve equity act the legislation would make reducing inequality a part of the fed's mission. it would also require the fed chair to highlight existing disparities and employment and income as well as present plans on how the fed would use the powers to close those gaps representative maxine waters helped spear head the bill she is c

motors to manufacture ventilators. gm repurposed the kokomo, indiana plant in ujust 17 days and has now produced over 21,000 ventilators. we are also working with fordompany and general electric to produce over 30,000 ventilators a month in michigan. they have done a great job. our nation is now the king of ventilators. i say that. the king of ventilators. we are sending them all over the world and helping a lot of countries that could never have ventilators. it's really, i guess we're looking to produce over 200,000 ventilators by the end of the year. those are some numbers. so we're helping a lot of countries. in april, i directed 3m to increase its manufacturing of n95 masks. by may they had increased production by over a million masks a day. think of that. they increased production of masks by over one million a day. 3m is now manufacturing an additional 39 million masks a month. we also worked with honeywell to open factories in arizona and rhode island. they are now producing over 20 million masks a month. by the end of the year, domestic u.s. manufacturing will have produced over one billion n95 respirators and all of them are made right here

continues to be challenging given the number of supply chain activities between ford and the charcoal caps in brazil . and general motors said general motors has a strict 0 tolerance policy against the use of child labor abusive treatment of employees or corrupt business practices in the supply of goods and services to general motors the company's contracts require that a supplier represents that neither it nor any of its subcontractors will utilize child slave prisoner or any other form of forced or involuntary labor we learned in 2006 that a direct supplier of general motors may have been using materials purchased from an empty at that time we investigated immediately and took appropriate steps will pool promised the statements but did not provide one. in washington what was it but it was a bar again it is a ski slope will. it go ok acting my school is soyuz sequel pretty soon was so was going to be but it has a presence a part will need to kill us the money will see its. own colors on those. yet as they shouted to d g. that it was what was so enormous that plucky budget. and said i'm one of the coolest best so. it's

the head of ford motor is stepping down as ceo.n ceo of its company in its 150-year history. >>> time to get a look at the forecast. meteorologist kari hall has been tracking that. certainly fog sticking around in san francisco this morning. >>> yeah. it looks like a blank screen but this is all the fog that we have in the city causing it to drizzle and it will be like this for much of the day, keeping those temperatures cool in san francisco and along the coastline and as we work our way inland we're going to get a lot more sunshine but also that cooler air coming over towards the south bay and some upper 80s for parts of the inland east bay. as we go through this forecast, more fog especially to start out tomorrow morning and that's to but we'll heat up again going into the end of the week into the weekend. we'll be back to the 90s in the valleys by this saturday. marcus? >> thanks, kari. >>> we'll have another local news update coming up in 30 minutes. ♪ >>> it's 8:00 on "today. coming up, breaking overnight. packing a punch. tr

. >>> ford, general motors and toyota place to have rearseat technology and cars sold in the u.s.t is a look at your gasia mikaelian . >>> coming up, how about one more check of those roads was sell this morning. >>> we have better news for the richland bridge. a lot of people have been using the richmond bridge getting into marin county because of what is happening on 37. you can see the 37 is still close because of that deadly accident that happened this morning in the 6:00 hour. they close the 37 from vallejo out to sears point. the cars that were stuck were allowed to get out. note new traffic is getting through right now. again, the richmond bridge as your alternate. the bay bridge has cleared out. let's bring in rosemary today with our weather. >>> good morning, south. were feeling fortunate that we had a quiet morning when it came to the weather. a few scattered shower and they are stable enough to prevent a lot of those thunderstorms from firing off over the bay area. we had some activity in the sacramento area and the sierra. we will hold onto this red flag warning for th

. >> there is a shakeup at the top of ford motor company, jim hackett who has been ceo and presidentsince may of 2017 is retiring october 1st taking over on october 1st will be jim farley who is the coo of the company this is a move that had been widely expected. the timing is a business of a surprise, nobody was quite sure when this would happen, but it's not a surprise that jim farley is taking over for jim hackett this is a company that under hackett has not been able to

ford. >> steve burns, the founder and ceo of lordstown motors, steve, thank you for joining us, coming to us from the lordstown plant there in northeast ohio. melissa, i can't wait to see that plant i've been there when it was a gm plant and now they're retooling it to make electric pickup trucks at some point, we'll get out into these plants again. >> phil lebeau along with steve burns of lordstown by the way, work house, we showed that coming into this interview. work house was up about 25% today. work house owns about 10% of lordstown motors they actually have a factory the guy was in the factory they're going to make trucks >> yeah. i think it's interesting, and i think it's interesting based upon the economics that have to work otherwise, they don't really have a reason for being. so, look, i think it's a very interesting story. i think the other part of this story that also is getting some attention has nothing to do with them, and to be clear, this whole focus on spacs is important in this marketplace because spacs, again, the acronym is special purpose acquisition corps have becom

exec for general motors says it will be under $75,000 which is very important because that's less than the starting price of the model x and little bit more than the mustang mach-e that fordr. we talked to general motors president of north america about why it's starting to push the gas pedal into electric, specifically with its luxury brand, cadillac. >> it seems like a good place to focus in terms of driving adoption so we can get more on the road and people can become more familiar. comfortable to the point that it becomes a choice for them. reporter: shares of the newer all electric companies have been surging even during the pandemic. that is not the same for general motors and the other legacy detroit auto makers. they are hoping to get a slice of the action here. general motors has made it clear it is pushing hard into what its ceo, mary barra, calls an all electric future. the company planning to unveil 20 all electric models by 2023. it's also investing heavily in infrastructure. what's an electric car without electric charging stations? just last week, gm announced it's adding 2700 charging stations across the country over the next five years. there's even talk

for what tesla has done having said that, look, ford is a company that needs to get moving quicker there is no doubt about that when you look at general motors, you know what mary barra is about. you may quibble about the response of the market to that, but she has delivered on the metrics she set out there. that's what they're looking fji farley. >> phil, thank you nikola earnings after the bell today. we'll see what they have to say. let aet guess let's get to washington. >> sara, stimulus talks are at a stalemate, not moving very quickly at all earlier today the press secretary at the white house gave a briefing where she said the president remains innately focused on unemployment benefits and helping those americans who are out of work but she declined to say whether given this agreement between the two parties and within the republican party whether the president would support a stand alone long term extension of these $600 weekly unemployment bump through the end of the year, something that would potentially be seen as an off i will branch to democrats senate republicans on capitol hill spent a couple hours trying to negotiate their po

ford mustang mock e. we talked to the president of north america for cadillac and for general motors, and we asked him aboutfuture will be able to compete with a company like tesla. listen. >> for sure we can. i mean, we changed the world before more than once, and so, you know, the is significance of this reveal tonight is to give everyone an up close and personal look at what our intention is. >> reporter: of course, shares of ev companies like tesla surging even during the pandemic. that has not been the case for the legacy detroit automakers, but general motors indicating here that it is serious about what it calls an all-electric future. in fact, it plans to release 20 all-electric models by 2023 and that, of course, david, includes the electric hummer which is i leased later this year, or revealed, i should say. dave david all right. grady trimble, thank you very much. appreciate it. >>> well, dozens of nfl players opting out of the 2020 season over virus concerns as the league comes to terms with losing billions of dollars with no fans in the stands. we've got an ivy league coach coming up who's turn