if you cannot marry penske with saturn description network, that is not a good situation for penske. that's why investors are pulling back. >> phil, you've got the company talking about concerns over supplies beyond the supply period. do you share that concern? >> what general motors wants to ensure is that its competitors do not immediately fill that void in terms of supply to the penske group once it has saturn. penske is going to have to go to somebody to build saturn vehicles in the future at some point. it sounds to me like they are negotiating over how long will there be a period where general motors supply vehicles for penske and saturn, and then at what point, what are the parameters in terms of what other automakers could supply penske in the future? that is at the crux of what penske is complaining about, not complaining about, but citing as a reason for calling off talks. >> the stock seems to be trading wildly. now it seems to be rebounding a bit. we'll get back to you as news develops. thank you for that. phil lebeau on the penske walking away from gm and the saturn deal

penske walking away from saturn. gm saying we're not going to look for another buyer, we're going to wind down the brand altogether. melissa? >> any sense of workers employed at saturn plants, if they're unionized workers and if they get transferred to other parts of gm? >> a lot of saturn vehicles are built in springfield, tennessee. but that's not the only vehicle built there. there are other vehicles built at that plant. there's not a dedicated plant where gm will say that plant's going away and therefore those workers don't have a job. it's integrated within the company. as for the corporate structure, there are about 12 saturn employees at gm headquarters. they're either going to be reassigned within the company. something will be determined with those 12 employees. what we're talking about here, melissa, is the saturn distribution network. those dealers, who are considered among the best dealers in the country, those dealers who are saturn dealers, they no longer will be carrying the saturn brand, and obviously

gm and penske had been working on a deal since june. gm now says it will phase out saturn and its distribution network of 350 dealerships. we'll learn more about this tomorrow, as we talk with gm's global marketing director michael di-giovanni about the automaker's september sales numbers. it was a rough start for wall street today as investors focused on a weak private reading on employment and a survey showing a contraction of mid-west manufacturing activity. by 10:00 a.m. the dow had tumbled 130 points with the nasdaq off 28 points. cash-laden investors bought into the weakness lifting the dow to 13 point gain by 1:00 p.m. with the nasdaq up 11 points. energy and tech stocks led the comeback, helping the market close well above the day's lowest levels. >> susie: it's one of the biggest initial public offerings this year: late today casino operator wynn resorts raised more than a billion and a half dollars in an offering for its casino and resort in macau. the stock begins trading in hong kong on thursday. september has been busy for

the penske group, headed by the racing legend roger penske, was in negotiations to buy the brand. with the talks broken down, the brand, once touted as the future of gm, is dead. here's chris bury. >> reporter: for more than 300 saturn dealers and 13,000 gm employees, this is the end of the road. for gm, saturn had become an unwanted, unprofitable step-child. >> general motors ignored saturn. they launched it strong. they brought it out and let the product age and become uncompetitive without putting more money into it when they needed to. >> reporter: saturn debuted 20 years ago. gm's long awaited answer to japanese imports. >> going to be a great feeling. >> reporter: saturn pioneered no haggle pricing. management and union boasted of a team approach. but sales peaked in 1994. it never made a profit. >> it looked good and well marketed, but it slid downhill. >> reporter: automotive tycoon roger penske, a potential savior, hoped to sell saturns, not make them. today, the deal collapsed when he couldn't find a manufacturer who would. so the car that once seemed the future of gm no

you took a big risk in leaving penske and cutting to stewart haas racing. >> as much opportunity as risk, i have to thank tony and everybody at haas racing for the opportunity and great effort, great team work between tony and darian grubb and rick hendrick's help is a ferth in our cap. and thank you u.s. army and soldiers fighting for our freedom, an opportunity to do ese things. this is for them and work our tails off for the championship. we don't have much to lose. we made it to where we wanted to be now and all about racing and getting good finishes and trying to win this championship. >> rn newman is back, seeded t tenth. >> as we continue our coverage on abc, when we're done on abc more post-race coverage on espn2 as soon as we're done on abc. >> all ng, kasey kahne on both sides, made it this season, how much work do you have if you want to compete? >> we have a bit of work. i wanted to run much better tonight, battled the car for a bit but we got better tend. didn't get a top ten but we were close and we made the chase. we start fifth, so it's good. atlanta went really well. we

and famed auto man and former racer roger penske pulls his plug to buy saturn. that spells the end of saturn. we're going to bring you the latest breaking news on these major stories. plus, stocks fell a bit today, but they beat the september swoon, up 2% for the dow, 3.5% for the s&p 500, the nas up nearly sick. the broad s&p 500 rose 15% in the third quarter. we'll look ahead at stocks in q-4, as well as prospects for recovery and profits and the fed. even kay bailey hutchinson will tell us why she's leaving washington to go home and run for the texas state house and finally, john boehner takes on president obama over the copenhagen chicago olympic trip. fasten your seat belt. the "kudlow report" begins right now. >> breaking news about b of aceo's ken lewis's unexpected early departure. let us goe right to charlie gasparino, author of "the sellout with the breaking details on ken lewis. ken lewis, seemed real much earlier, charlie. what's your take? >> you know, last week, larry, i reported that they were making prerations for his exit, if he should be charge

pat announced his decision to leave penske racing after the 2009 season and earlier penske said he couldfor tuesday debriefs but tuesday debriefs only. but despite they say business will run as usual here at the track, as for the decision to replace him it was a the can decision based on protecting their developments for 2010 and they have a history of replacing and promoting from within and are actively looking for his 2010 replacement. >> ahead on this edition of "sportscenter," live report coming up on the kolb situation. and what is on joe flaco's plate today and what the bronco's defense might have up their sleeve against brady quinn and the browns and oh, the boyz are ready. they have opinions and we're going there live. call it a weight-loss smack down. he's a hall of fame quarterback who scored a 22-pound weight loss thanks to nutrisystem. he's a legendary linebacker who's tackled his own weight problem by dropping 35 pounds with nutrisystem. so, who's the winner... at losing weight? listen here, twinkle toes, you're going to need some new dance moves, buddy, if you're going to t

it had been reported penske automotive group planned to buy saturn.arently those talks fell through. the saturn brand will be no more. gm will shut down saturn unit after talks fell through. the deal called for penske to acquire vehicles from gm and branch out and sell products from renault. that is not the case. at least one report that says 350 dealers, about 13,000 american jobs. >> disappointing news, of course. it had been expected that gm would try to get rid of saturn in some fashion and thought they had a deal with penske. with that deal falling through they have to wind it down. >> to the other news we are watching. the fbi today says there was no imminent threat related to the afghan man arrested and charged with plotting an al qaeda terrorist attack. >> najibullah zazi pleaded not guilty. prosecutors say he was planning a backpack style bomb attack. they say two men were planning to blow up buildings in dallas, texas, and springfield, illinois. >>> confronting terrorism was the topic of a hearing today. joining us live is homeland security

roger penske is a big name. he was supposed to save gm struggling saturn brand. he was going to buy out the brand and its 350 dealerships from gm. apparently, it's fallen through. phil le beau is with us with more on this. phil, this was a surprise. >> reporter: a bit of a surprise since we expected them to finalize a purchase of saturn in a couple days. the deal fell apart late today. gm said they are going to wind down the saturn brand, eliminate the brand all together. it will happen by the end of 2010. if you own a saturn, it doesn't mean you won't be able to get it serviced, general motors will still take care of you. they started the brand in 1990. after 20 years, general motors decided it's the end of the road for saturn. >> phil le beau, thanks. late this afternoon cnbc broke the news the ceo of the nation's largest bank is stepping down. ken lewis, ran bank of america since 2001. he's under fire over the accusation of merrill lynch during the meltdown. he will exit by the end of this year. no word, yet, on a successor. >>> there's evidence about the heal

says it will shut down the saturn brand, this after an agreement for penske motors to buy the brand fell through. the line of cars and depositions will -- dealerships will now be phased out by g.m. >>> john rydell tells us that prompts state officials to accelerate all that repair work. >> reporter: weight restrictiones have been imposed on vehicles using the route 90 bridge just outside ocean city. it's one of three bridges that discovered significant deterioration. muir -- mother nature and the daily wear and tear have taken its toll. the cost could wind up being $53 million it. comes at a time when the state is still struggling with a budget deficit and transportation revenue is far below projections. >> some other things that we would like to get to, whether it's redesigning intersections or doing other things so the traffic relief nature, so things we're not going to be able to get to as quickly as we might because we have to make sure there's not a bridge collapse in maryland like there was in minneapolis. >> reporter: the transportation authority has not ruled out raising tolls to

the company made the call after talks to sell saturn to penske automotive group failed. gm said that saturn and its dealership network will be phased out. and this is very disappointing news. and this comes after hard work by dedicated saturn employees. >>> the death toll is now over 100, after an earthquake triggers a series of tsunamis in the south pasks. -- pacific. tonight, the search is on for samoa and american samoa. drew levinson has the latest for wjz. >>> thousands of terrified people ran through the streets, seeking higher ground in western sumatra province. a deadly magnitude 7.6 earthquake struck off the coast of podang, indonesia. and many feared a tsunami would fall follow. it did. hundreds, possibly thousands of people were believed to be trapped. it also triggered landslides and sparked fires. the ind measian earth cake caused a tsunami that flattened villages in somowa and american somoa. many people living there were swept out to sea. this tells the story of a mother who tried to grab her children. >> she was too late. the wake came. she. she lost her

penske auto group is expected to close its division to buy saturn this week. an potential announcement could come on thursday opinion this tentative deal was first announced in june and i know a lot about it because of the "new york times" sunday piece on penske. and it's interesting -- >> last week. >> it's a distribution deal. he's going to sell saturn for a year or two, but then he might sell anything in this huge network of dealers that he has. and this guy is -- he's notice someone in the past who has really not done things successfully. so all the saturn people, all the saturn dealer res like, you know, davis rodner and, you know, we'll see. but it's a tough one. i mean, the whole domestic auto industry is tough. >> it is. >> toupt to talk about my ford? i picked up friday ford flex yesterday. for first impressions, i love it. >> really? >> yeah. >> is it here? >> no. it's the family car. >> i want to check this out. >> good. it has a thing you can -- i don't know. it's got a blue tooth. i don't know what the -- >> it's got technology in it you don't kno

the company was trying to sell saturn to the pen penske alternate brand. but that fell through. >>> marylanders, be aware. today is the last day you can send a text message while driving without breaking the law. >> reporter: goes into effect tomorrow. will make sending a text message punishable by a fine. studies show that texting while driving is as dangerous or even more dangerous than drinking and driving. police must witness someone. drivers will still be allowed to read text messages and talk on a phone while behind the wheel. at least for now. >>> the law was passed by the general assembly earlier this year. >>> the state of maryland is leap-frogging. mike schuh reports, the damage is to the area below the waterline. >> reporter: these two sets of bridges, spanning the susquestion -- susquehanna are 50 and 70 years old. drop down to the waterline. drop under the water. here is where the problems lie. >> that's where we noticed. earlier this year, with the new inspection process, that there was some deterioration of the substructure. and some of the

roger penske pulls the plug on saturn. stocks hot in the third quarter.y bailey hutchinson leaves washington for the texas state house.

. >> the penske portion as a whole has been on the upswing.at with the 77 and kurt busch and even david stremme. he's been up in the top 15 just about every practice session. he's racing for a job but doing a good job right now. >> yeah. i have to look at the kurt busch setup in particular. he's up there second on the chart, finished second last week. he's in the chase. i would have to take a look at that, if nothing else, and maybe give it a try and see if sam might like that. >> it's good to run one quick lap but really important to be average. this is a five-lap average of those in happy hour, and you see montoya top of the list, kevin harvick. our team responding now. look down who makes the spot. a.j. almondalmonddinger. >> that's what you see of that team late. they have a good the last few races. looks like they will have another one sunday. >> he's the only driver this year has run all of the races and has yet to lead a lap. he's come so close three to four different times taking the leader, at least leading one under caution but doesn

. >>> business news, general motors will shut down its saturn units after buyout talks with penske motors fell through. >>> bank of america ceo ken lewis announced today he plans to step down at the end of the year. >>> dollar logged its best quarter in years. major indices turning in back to back gains for the first time since 2007. now, let's go back to "hardball." >>> welcome back to "hardball." a group of retired generals and admirals rallying behind president obama's push to close the terrorist detention facility at guantanamo bay. they say dick cheney, the former vice president and his daughter, liz cheney, are using fear in this fight. here's cheney last may speaking to the neoconservative american enterprise institute. let's listen. >> the administration has found that it's easy to receive applause in europe for closing guantanamo, but it's tricky to come up with an alternative that will serve the interest of justice and america's national security. keep in mind that these are hardened terrorists picked up overseas since 9/11. the ones that were considered low risk were released a

and penske will acquire gm saturn division this week. the detroit free press reports an announcement could come on thursday. the tentative deal was announced in june. and boo! consu consumers plan to spend an average of $56.31 on halloween this year. down from $66.54 in 2008. you didn't even flinch. >> that's a lot of money to spend on halloween. >> it is. >> it really is. >> candy is king. >> time to check in with kahuna and brain to see what's on their radar this morning. gentlemen, would either one of -- do either of you drink instant coffee? would you dry trithis new starbucks stuff? >> it's not usually good. >> i don't drink it. >> as i said earlier, the one thing from france is that french pre press, right? you don't need the filter, it works again and again. press it in and it's pretty good. but i'm surprised starbucks -- and they're advertising on tv now? they're trying a lot of desperation -- not desperation, right? it's a tough world to sell a $4 coffee or whatever it is. >> you've got mcdonald's. >> it's the new normal and peo

congressman jeff penske is a ranking member of the financial on consumer credit.sman, it's good to see you. just a caveat, we showed a couple of pictures of ford headquarters when we were talking about this and we're already getting a lot of mail. >> the last i looked, they didn't take any -- >> we can't just use auto industry tape if it's not -- of course, do we want to pick on gm and chrysler? i guess we do. it's going to cost us, huh? >> i'm not sure about picking on them, but the bottom line is that the t.a.r.p. statue was written for, quote/unquote financial institutions. the government crossed the line when they bailed out gm and chrysler. what fortune 50 or fortune 500 company under that definition couldn't qualify as a financial institution? these are companies that unfortunately have been losing sales for years and years and it perpetuates us as a bailout nation. the congressional office says we will now lose $40 billion more than they thought back in march, and yet there's thousands and thousands of small businesses that go belly up every day in the u.s.