joining us now to talk about all of this, phil lebeau who is covering the gm cross-ice fris day one. and also with us, collin langdon from ubs. so, phil, let me begin with you. you are just a few weeks ago the ceo of gm was saying that she thought that they were coming towards the end of this whole recall crisis. and now this. this is a big one. so what does this mean for her credibility? but also more importantly, what does this mean for the credibility of general metors? >> it means they're not clear to clearing out the potential cases related to ignitions, related to other quality problems and ultimately what this does is it calls into question the quality control at general motors. now this may be the last massive recall, suzy. but at some point, people are going to say when does it end? and there is no way of predicting that as we know from today's recalls. >> what do you by this that, collin? when do you think it ends? what about the pricetag they're putting on it so far? could the charges they're taking against earning goes even higher, do you think? >> i think if you look at t

i want to bring phil lebeau back in here.ndertook here seems to be unkovrg a lot of things that weren't necessary. i'd love to get your insights on how this process is going and where we are. >> they put somebody in charge of doing a cleat review of all of the safety operations at general motors in terms of what complaints were there, have they looked at those complaints in the past, shoulds we look at them again. obviously the reason they're doing this is they were caught by the federal government not doing it in the past or doing a very poor job in the past and as a result the nhtsa, national highway traffic safety administration, is watching them so closely that general motors has taken a position anything close to a defect we're going to recall. now, some of the recalls that we've heard about over the last three months, david, have been some ticky-tack things, you would say it's a service bulletin. the one today, 7.6 million, they know of at least three fatali fatalities that they believe are linked with this issue. they

phil lebeau has the latest on g m's own investigation into the ignition switch recall. >> reporter: back on capitol hill to answer questions about faulty ignition switches and the recall of 2.6 million cars, g m's ceo mary barra maintained her company is changing. >> this is not another business challenge. this is a tragic problem that should never have happened and must never happen again. >> reporter: for barra, there were few moments where she was on the hot seat but time and again they are skeptical she can remark the corporate culture, to focus first on safety. >> why the foot dragging? is this typical of g m's investigation sbointo a product concern and how do you intend to change this? >> we have it the way we're working through recalls today. we change that process. it's expedited and the most senior levels of the company are involved and i don't want to do recalls, we'll do what is right for customers and demonstrating it today. >> reporter: gm says 13 people were killed in 54 ceaccidents. while the auto maker is creating a program to compensate victims, friends and families say

phil lebeau, "nightly business report." >>> and two encouraging reports about the job market, first,small business owners are feeling optimistic. the latest survey by the national association of independent business shows that as of last month, more owners are hiring new employees and paying them more wages, more seeing business improving and paying costs. >>> and the labor department reports that the number of advertised job openings soared to a 4.5 million in april, the most in about four years, 4.7 americans were hired that same month, still below the 5 level before the recession. >>> and new on the satellite networks, the group is known as putter panda, experts believe they have been stealing corporate trade secrets since 2007. eamon javers has more. >> well, susie, this comes from the private firm crowd strike. they are looking at the people's liberation army called unit 61486 is the designation in the chinese military which operates out of shanghai. and what crowd strike says is this unit is designed entirely to go out and steal, and otherwise trick executives at high-powered u

phil lebeau is behind the wheel with some of the details on some pretty stellar results, phil. >> much better than expected, sue. you look at the sales numbers for the month of may, almost all of the major automakers beat estimates anywhere between 2 and 5%. couple of numbers stand out here. first of all, general motors, gain of 12.6%. that's almost double what the street was expecting. and chrysler at 16.7%. we'll talk about in just a little bit what a wonderful month it was in terms of jeep sales. couple of other thins coming up today. people have been saying what about the recall news? has it slowed down sales for general motors or for ford? ford last week reported more than a million vehicles were going to be recalled as part of some new initiative. well, guess what? those recalls have not slowed down traffic coming into showroom, nor have they hurt sales. in fact, generally speaking on the conference calls today, everybody said, look, the sales are there, so we're not worried about people being deterred because of all of the recall news. also, industry incentives did not goose the

phil lebeau has more on why sales were red hot in may and look ahead to how the summer is shaping up for the automakers. >> a big day for the auto industry, as most of the major automakers reported may sales that were much better than expected. depending on the automaker, they beat street estimates by between 2 and 6%. and a couple of storylines stand out. first of all, recalls, particularly at general motors are not keeping people out of the show room. gm, in particular, reported sale gains of 13% for the month of may. almost doubled what many were expecting. also, this is not a case of the industry sweetening the deal in order to push metal in the show room. in fact, the average incentive last month was just under $3,000, roughly where it's been for the rest of the industry all year long. and fine linger the big focus now will turn on what kind of inventory levels we see for the remainder of the summer. with this may, many are wondering if sales will remain this robust in june, july and august. and if that happens, will automakers have to increase production? at this point, almost

in warren, michigan, phil lebeau, "nightly business report." >>> so could general motors be charged with murder? that's the provocative headline that was posted today. the author is ben guyer, and he's with us now. so ben, answer the question to your headline. could gm face murder charges? >> well, no, but they could in theory be charged with manslaughter. >> what would have to take place for that company to be charged with manslaughter, which, of course, bp pleaded guilty to after the deepwater horizon explosion back a few years ago? what has to take place? >> so basically for them to be charged with manslaughter, you have to find that someone at the company took an action that they knew could kill people, and they were doing it for the company while they were in a sound state of[i7cñmind. >> all right. so it really had to be some kind ofç deliberate thought process which may not be the case here. but are some kind of charges likely in this whole case? >> well, it's always possible we'll see criminal charges. what's probably more likely is the department of justice is going to go the c

happily we quite often see phil lebeau. >> j.d.er every years surveying owners of new vehicles after 90 days, and that's when they get the initial quality survey. for the second straight year, they show the initial quality of new vehicles has slipped. not a lot, but just a bit, dropping about 3%. j.d. powers says the top complaint, more problems with the tech features, especially voice-activated software, bluetooth, which brands at the top of the list? porsche with the fewest reported followed by jaguar, lexus, hyund hyundai, and toyoda. where did general motors raven? three out of four gm brands ranked above the industry average, in other words having fewer problems reported than the industry average. so for general motors, this is the second straight year where their brands have done better than the industry average when it comes to initial problems being reported by new buyers. tyler, back to you. >> phil lebeau, thank you very much. >>> do you think amazon launching a 3-d smartmoan will -- the results are next, and we are just

phil lebeau. phil is right.ates for the year, you got to go back a decade to find people as interested as they are to buy cars. >> my travel trust owns gm. it's been a house of pain. you can't imagine how bad this -- badly the stock has performed. versus the actual sales. i think those sales are remarkable. could there have been more bad headlines about a company? >> the question has been will it actually stop people from going in and buying a general motors automobile. the answer it doesn't appear to have done that at all. >> no. there were not discounts by the way. relative discounts, obviously always some discounting going on. i think that the gross margins could be good. watch europe. europe had good car registration numbers. obviously china does matter for gm. it's an international company. wow. i mean come on. they blew the numbers away. let's just agree. they blew the numbers away. >> right. you've stayed with the stock through all of the turbulence. obviously it is still down, what, 13%. >> it's been a m

phil lebeau with a special report coming after this.ere most people probably know that geico could save them money on car insurance, right? you see the thing is geico, well, could help them save on boat insurance too. hey! okay...i'm ready to come in now. hello? i'm trying my best. seriously, i'm...i'm serious. request to come ashore. geico. saving people money on more than just car insurance. in today's market, a lot can happen in a second. with fidelity's guaranteed one-second trade execution, we route your order to up to 75 market centers to look for the best possible price, maybe even better than you expected. it's all part of our goal to execute your trade in one second. i'm derrick chan of fidelity investments. our one-second trade execution is one more innovative reason serious investors are choosing fidelity. call or click to open your fidelity account today. you wouldn't have it she any other way.our toes. but your erectile dysfunction - it could be a question of blood flow. cialis tadalafil for daily use helps you be ready any

phil lebeau follows they as a hobby. he's never heard of anything as bad as this. that's coming up next. >>> housing in the second half, predictions, plus two big torrie on the home front. diana olick and robert frank to explain. >> i'm going to give you the skinny on skinny houses. are these the next great real estate development deal? or are they actually vulgar? robert, this went isn't as expensive as yours. >> vulgar? i can't believe it. this one is amazing, 17,000 square feet with a terrace overlooking the statue of liberty and a jacuzzi overlooking the freedom tower, a tour and the most expensive apartment in all of downtown manhattan. after the break. with all the opinions about stocks out there, how do you know which ones to follow? the equity summary score consolidates the ratings of up to 10 independent research providers into a single score that's weighted based on how accurate they've been in the past. i'm howard spielberg of fidelity investments. the equity summary score is one more innovative reason serious investors are choosing fidelity. call or cli

phil lebeau is behind the wheel for you in chicago. hi, phil. >> hi, sue. it's not every day when we talk about a redesigned vehicle we give it a lot of attention, because it happens all the time, but in the case of the edge, it's fairly important for a number of reasons form they unveiled it last night at the headquarters if dearborn, michigan. the edge primarily has a north american crossover vehicle. they will not be selling it in china and europe, for the potential for vastly improved sales worldwide is significant. when you look at the edge sales here in the united states, the older model, which many are saying, look it was time for it to be updated, sales this year down 8%, the industry overall up 4.1%. the edge will go on sale early next year, and even though we're seeing gas prices move a bit higher, the head of ford of the americas believe there's still strong demand for crossover utility vehicles. >> that continues to be hot. consumers are adjusting to gas prices in the 3.80 to $4 range. as long as we don't see a major spike, we think consumers co

general motors shareholder meeting set to get under way and the time for phil lebeau before the openingit away, phil. >> david, that meeting will start in few minutes. just a few minutes ago we heard from ceo mary barra and she was talking about a number of issues including the ignition switch recall issue and changing the culture at general motors. here's what she had to say. >> our message has been clear there's really as i said two clear things that we need to do as we come out of this, do the right thing for those who were harmed and everything within -- and i am committing along with a leadership team and our power to make sure we create the right organization, the right processes, support the employee that this never happens again. >> as you take a look at shares of general motors this year, down 10%, one of the issues that's weighing on this stock is how much the ignition recall switch issue will cost this company eventually, including the compensation of victims, the compensation fund is being set up right now. mary barra says it's too early to know the exact cost to the company

unitedhealthcare. >> phil lebeau with the latest. >>> welcome back.e want to take you for some breaking news right now down to washington d.c. that's your john harwood is standing live following the stunning defeat, john, of eric cantor. >> reporter: scott, we're less than 24 hours since that defeat happened and now the house republican conference in a formal way is going to begin to digest the implications of that news going forward. they've got a conference meeting called for 4:00 this afternoon. there have already been demands by some republicans that eric cantor step down now from his post as house majority leader, so there's not a lame duck in that very important position under john boehner. they're going to talk that through. if he does, in fact, step down, we're looking at a leadership race to fill a void kevin mccarthy who is now the whip is likely to move up but you could have a contest between some men and all of that is going to be hashed out this afternoon. >> we'll pay close attention to develops. wall street is paying attention to what i

more than 10,000 people read that story already and then number three, phil lebeau looking at today'schanged what that is doing for them. the consumer seems more willing to go in and look for a car not because they need it but because they want to buy a car. big changes and we saw that in the numbers today. >> willing and able. >> that's absolutely the story. elon musk's comments about how he thinks within a year as phil lebeau flagged for us, you'll get on and off the highway without touching the steering wheel. that's going to be a big talker for the next 24 hours. >> put that story on the website and it's climbing up again and jostling some others out of the way. >> let them duke it out. good to see you, allen. don't drink too much caffein, almost 5 p.m. shou unless it's decaf. >> high tech is transforming office landlords into tech incubators and 21st century urban planners. diana oiblg is just outside washington, d.c. with one such transformation for us. hi, diana. >> reporter: hi, kelly. you know, it's an old premise with a new twist. how do you get workers to fill your office s

phil lebeau, is this just coincidence? are the suppliers the same? i don't know.s. >> a lot of questions. it's not a coincidence. nitsa basically sell to all supplies saying there have been some complaints regarding a select number of chrysler models, include the jeep commando 05-06 grand cherokee, as well as 2008-2010 grand caravan. it's simply an investigation into the possibility that the key could slip from the run position to the accessory position. , but this is what we're going to see in the industry. a lot of questions about what exactly is going on with all ignition switches. >> i was going to say, phil, are you surprised by the sheer extent of the recallings this year? we've talked about it before. >> no, not at all. >> another 3 million this week. >> no, because nhtsa was exposed for not being hard enough on the automakers, and result automakers are taking a zero-tolerance approach. anything close to a recall get it out. >> thank you very much, phil lebeau. >> >>> janet yellen meets the press. we'll take you to her news conference when this special edit

phil lebeau covering the compensation plan in washington.oger, i turn it back to you to finish the discussion on tech evaluation. i don't need to fill new on pro. a lot of viewers wonder why a company that makes camera on a stick deserves that. >> i don't know that it does or doesn't. i learned long ago the market is entitled to decide what it wants to pay for my stock at any point in i'm. the thing i will say is that we are operating in a time where the -- underlying economy is not growing. the last quarter was dreadful on gdp. things that are growing rapidly are going to attract a lot of sxint the case of go pro i think there is a line of thinking that they can become a content company and not just a camera company p. if that were true that would change the way you have to look at the company. whether that happens remains to be seen. >> four cautionary words, i think. sell on the news. we are in a period now of promise in the tech cycle whether it is companies that are ipo'ing based on what they are promising to do, whether it is google po

phil lebeau is here to tell us. sales are saying about the state of the consumer, coming up with the ceo of thor industries, when we come back. she keeps you on your toes. you wouldn't have it any other way. but your erectile dysfunction - it could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, as it may cause an unsafe drop in blood pressure. do not drink alcohol in excess. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, get medical help right away for an erection lasting more than four hours. if you have any sudden decrease or loss in hearing

and phil lebeau is there as well.t, too. >>> still ahead, we have final trades, as you head into the second half of the day and why a mayor, dog poop, and hidden camera is making the worst trade of the day. she keeps you on your toes. you wouldn't have it any other way. but your erectile dysfunction - it could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, as it may cause an unsafe drop in blood pressure. do not drink alcohol in excess. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, get medical help right away for an erection lasting more than f

former ceo of twa now in charge of people's express joins us from virginia beach and phil lebeau joins too. jeff, seems like you're back with a vengeance and pretty much are charging for everything. >> we're charging for everything with the lowest fares out there. if i was to come up and visit you mandy in your steward yos, it would cost me over $1,000 round trip. i can do it on people's express for $112. >> okay. let's look at all the things you're charging for. i know the entire industry is going this way, but charges for things like carry-on bags in overhead bins. paying for an exit row seat. by the time you've clocked up all of these fees, on top of what ared a mittedly low fare, wouldn't it end up approximately about the same as other airlines in costs? >> as u suggested, at $1,000 to come visit you, with us at $112, you can add a fee for everything and there's a long way to go before i get anywhere near $1,000 round trip. >> phil lebeau, come in here. >> jeff, i'm curious about your base of operations there in newport news. i bring that up because we were talking wb henry, famili

phil lebeau, talking about this all day. you new news. what is it?mbers are all in and they have been calculated by the research firm auto data. monthly sales rate for the month of may, 16.77 million vehicles, that is the highest monthly sales rate since february of 2007. 16.77. and just for a point of reference, most people were estimating 16.1 or 16.2. so well above what wall street was looking for. >> and, phil, jump in there, give our viewers some contacts. i think just over 17, 17 million was the all time record. how low were we at the depths of the financial crisis? >> on an annual basis, a little over 10 million, 10.35, something like that. that was the bottoming out in 2010. on an annual level, you're looking at back in 2000, 2001, 17.2, 17.3, that's the all time high on an annual basis. >> very good economic sign indeed. thank you. over to dominic chu for a quick market flash. >> mcgraw-hill financial, its own standard and poors, the credit rating agency, it suffered a defeat accusing it of inflating credit ratings. a federal judge is ruling

phil lebeau in chicago. grasso, what's the tesla trade? >> it trades perfectly off tech.. you have to wait for a test of the $200 mark before starters. >> we are just getting some new video just coming in i'm not really sure -- >> oh, no. >> it's exclusive video out of hawaii. so here is a look at this. ♪ >> happy birthday to steve grasso who celebrated yesterday and brian who celebrates his birthday tomorrow. >> it's so nice. >> thank you. >> you don't look a day over 60. >> i feel great for 70. >> look at that coconut bra. >> he wants to borrow it. >> so nice of you guys. >> aren't these beautiful. >> and it was stevie's boys' birthday as well. >> twins, john and luke. happy birthday, boys. >> nice tops. >> nice tops, yeah. >> that is really -- >> we have to have our karaoke night. >> play it on a loop. >> tim seymour, outstanding work. >> yeah? >> yeah. >> you know why he's in a rock and roll band. >> i have got an edge. i have a karaoke edge on the rest of the world. >> time for the final trade. let's go around the horn. tim? >> taking profits in twitter back from $29

phil lebeau? >> mandy, this is an interesting story and one that a lot of people should be paying attention to. approximately 200,000 people in the united states will be getting compensated from ford. why? because ford says it has gone back, done some testing again and determined that six of its models had mpg ratings that were too high. and the difference could be between one and seven miles per gallon depending on which of the six models were tested including the c-max hybrid, fusion high did, mkz, ford fiesta as well as c-max energy and fusion industry, the plugged in electric versions of those vehicles. what kind of compensation? $150 and $1,050 depending on the model that's impacted. ford lowering mpg ratings for a number of its models. back to you. >> thank you very much. thing to is off by 1.9%. >>> call it a downward facing stock. yoga gear maker lululemon is getting stretched today. the company's biggest shareholder has completely lost his zen. >> no buts about it. in that story. >>> time

cnbc's phil lebeau is live at a gm dealership in warren, michigan. dismissals but no high-level firings. is that curious to you? >> reporter: no. when you look at the investigation. and here it is. it's hard to tell, but 315 pages, this is a massive report. it makes it clear that there is a lot of things that weren't wrong at general motors, says but it was not top executives turning a blind eye. take a look at what mary barra said to the former u.s. attorney who was conducting this investigation. she referred to the gm nod. she said the gm moderate is described when everyone nods in agreement to a proposed plan of action but then leaves the room with no intention to follow through, and the nod is an empty gesture. that summarizes a lot of what you'll see inside this investigation. as far as the fallout from this investigation, today general motors announced that 15 employees have been dismissed. many of them, at least half being described as senior executives, five others have been disciplined. the main cause for why they've been let go or disciplin

he'll speak to phil lebeau.ack in a minute. ♪ [ female announcer ] we love our smartphones. and now telcos using hp big data solutions are feeling the love, too. by offering things like on-the-spot data upgrades -- an idea that reduced overcharge complaints by 98%. no matter how fast your business needs to adapt, if hp big data solutions can keep wireless customers smiling, imagine what they can do for yours. make it matter. >>> welcome back to "squawk on the street." what mannkind, the stock higher after the company received fda approval for the inhaleable diabetes street. approval comes threes year after the fda asked for additional studies on the effect. there was sell on the news reaction but take a look. it is coming back this morning. >> now they're buying. looking at broader markets, we are higher across the board. economic data here to digest. big jump on pending home sales. david katz. david, here we are, limping along to the finish line of june of the quarter of the second half. we haven't seen a down

phil lebeau will join us with what we can expect. "squawk box" be right back.ii. visit tripadvisor hawaii. with millions of reviews, tripadvisor makes any destination better. >>> still to come this morning, we'll check in with andrew. he's on the west coast this morning. he'll be speaking with andreessen' partner, scott cooper, and we'll get his outlook for venture spending and why he thinks fears of another bubble are overblown. plus, gm, jobless claims, draghi, a lot more. one hour left of "squawk box" and it is a biggy. stick around, we'll be right back. lectronic health records for more than 30 million patients? or that our software helps over 20 million smartphone users remotely configure e-mail every month? or how about processing nearly $5 billion in electronic toll payments a year? in fact, today's xerox is working in surprising ways to help companies simplify the way work gets done and life gets lived. with xerox, you're ready for real business. and life gets lived. ♪ show 'em the curve. it's beautiful. it's more than that... ...it's perfect. introduci

phil lebeau will join us from detroit at the top of the next hour. i'm sure we'll get an opportunity to talk to him about what this is all about. >>> web hosting company go daddy filing for an ipo up to $100 million. >> it said $100. >> $100 million. >> i could help them with that if i owned the entire company. >> you could. you could. >> that's an important word, million. >> could have been priced at 100. >> could have been $100 a share. >> who knows half the time. that's what makes it -- the job would get dull. >> right. >> just reading stuff without actually -- it's almost like a puzzle, almost like a puzzle of what we're trying to say. >> if it was just reading, none of us would be -- >> we don't want to do that. >> no word on which exchange godaddy intends to list on or the symbol it would adopt. go daddy perhaps best known for one of our favorite guests on this program, future race car driver danica patrick. the company was founded in 1997, acquired in 2011, kkr and silver lake. >> they had a model, that was her there, they had one prior to tha

phil lebeau has more on the story and joins us now on the line from washington. compensation, to me, just smacks the short permanent. it doesn't seem to be good enough. is there a long-term plan at gm to really ensure this doesn't happen again? >> well, general motors says there's a long-term plan in place. we really will snow know likely for four or five years if we see the rate of recall slowdown. you can look back and say, yes, clearly there was a line drawn in the sand in early 2014 and since then general motors has been proactive in catching problems early so you don't have massive recalls. more importantly, you don't have recalls of potential defective products that have deadly consequences. so that is the way we'll know. in three or four years whether or not what general motors has been doing actually is effective or not. when mary barura going on capitol hill today, this is a return. remember, she was here 11 weeks ago. that appearance did not go well. she was pretty much grilled by lawmakers who said you've done nothing, you haven't given us information i

recent scandal over the recalls taking place in detroit today that's where we find our very own phil lebeau. phil? >> scott, despite the expectation we might have fireworks at today's annual meeting, this was relatively uneventful and rather quick annual meeting. a couple offing in that is did come out, first of all, the victim compensation program that is being developed by attorney ken feinberg, that's still in the process of gm figuring out what the criteria ultimately is. that will be set by ken feinberg. mary barra talked to reporters saying that is being developed. the pace of recalls is slowing down. there still will be a few coming out in the second quarters but certainly not the wave we saw within the last month or two. finally, the financial impact not only of all these recalls but the victim compensation program, that remains unclear. we should have a better sense by the end of the second quarter. i want to show you this chart. compare general motors and ford. historically, they trade in tandem but if you go back and look at the beginning of this year, there you see the split, on

phil lebeau joins us on the phone with the latest. phil. >> reporter: melissa, general motors told dealers to stop selling immediately the chevy cruze. they are taking this action to prevent the sale of certain 2013 and 2014 models that may have a defective airbag. >> that means that all the models have defective air backs. they seem certain models have airbags built with an infrared part. they are trying to identify those models. they areshop stopping the chevy cruze. they are hoping to resume sales at the end of this week. it's not a huge deal. it certainly is one indication that general motors struggles to figure out all of the problems. back to you. >> when you say top selling car, is there a percentage in terms of crews in terms of the revenue? >> it's a little hard to tell, melissa. they sold 118,000. they will sell, you know, about 270, 275,000. ref fusewise, in a vehicle. keep in mind, if they only stock sales for two or three days, this is a blitz. it will not hurd the model. what it does do, whatever, for people going into th

a reporter, phil lebeau, johns me from warren, michigan, where the gm headquarters are located.can we expect? >> this will be a big day for general motors. we've been told that ceo mary barra will be taking significant action, that's the way it was termed to me talking to peoplen side general motors. significant action that seasonally will include two things, one, holding those who were responsible for the ignition switch defect and the delay in alerting authorities, holding them accountable. also, she'll be announcing a number of steps that have been described as bold and decisive in terms of how general motors will try to correct this problem in the future and essentially make safety a top priority for the automaker so that this situation does not occur again in the future. so this is a substantial day for both mary barra and general motors as a whole. >> all right, phil, thank you so much for that. >>> staying in the sector, the united auto workers union elected a new president. dennis williams says he will only serve one four-year term. he faces tough contract talks with the

phil lebeau, yet another blow for barra. >> and for general motors, this is a somewhat troubling one. it's due to the fact they found problems in about 33,000 chevy cruze models, they will identify them and should have it all worked out by the weekend. but if does reinforce the problem for general motors and in the case of in particular issue, the maker of the air bags in question, it was a part put into the air bag incorrectly. today because takata has had so many recall, the ceo in japan apologized to shareholders. there is a look at shares over the last month. down about 4%. this morning on the "today" show, mary barra was asked whether or not any former gm employees who were dismissed because of the ignition switch recall crisis, whether or not they should be charged criminally. here's what she had to say. >> that's for the courts for decide. i can tell you i've taken action in the people that i don't think should be a part of the company aren't. >> would you be surprised if criminal charges were filed against anyone who worked for general motors while this was all going on? >> ag

let me tell you i say every time i saw cnbc's phil lebeau on air talking about gm i cringed. i knew the papers wouldn't stop hammering the company. of course the lawsuits are ugly, no doubt about i. that said, unless you believed these lawsuits were going to be like the asbestos suits or the oil spill that slashed bp's dividend, neither of which i think are good comparison, them that was your chance to buy gm. it rallied 10%. maybe that cans doesn't come around again. of course, you can't always nail the bottom. i like rite aid very much. so when it delivered its earnings last week, i said to keep buying it. the stock still hasn't settled down. >> that hasn't bothered me. rite aid is a long-term story, yet, judging by my twitter feed, many of you are furious. you need to ask yourselves something. you need to ask yourself if you are in the stock for a quick pop, you are not going to get that. for bigger long haul, right? a long haul, long term, which is why we recommended the stock at 13. i like it for the latter. here's two words you never want to hear. stay patient. some of

and of course our own phil lebeau. >>> barnes & noble officially splitting into two companies. makes underwater fans that are powered by the moon. ♪ [ birds squawking ] my mom makes airplane engines that can talk. [ birds squawking ] ♪ my mom makes hospitals you can hold in your hand. ♪ my mom can print amazing things right from her computer. [ whirring ] [ train whistle blows ] my mom makes trains that are friends with trees. [ train whistle blows ] ♪ my mom works at ge. ♪ my mom works at ge. thank ythank you for defendiyour sacrifice. and thank you for your bravery. thank you colonel. thank you daddy. military families are uniquely thankful for many things, the legacy of usaa auto insurance can be one of them. if you're a current or former military member or their family, get an auto insurance quote and see why 92% of our members plan to stay for life. the numbers are impressive.y to new york state. over 400,000 new private sector jobs... making new york state number two in the nation in new private sector job creation... with 10 regional development strategies to fit your bu

phil lebeau has the details. what now? >> this one impacts a high-profile vehicle.e're talking about the chevy camaro, 2010 through 2014 years. the problem is one that we've heard about with the big recalls earlier this year. gm recalling 511,000, 528 chevy camaros, the driver's fees may bump into the keys, that could push the key back into the run position. similar to the problem we saw earlier this year with the defective ignition switches, but gim is quick to point out while similar, it is unrelated to the other recalls. here as the total number of recalls this year, 38 in all, impacting 16.48 million vehicles. now, a number of those recalls are maybe for 100 or a couple thousand models, but several are more than 1 million vehicles, the biggest being the 2.6 million being recalled earlier this year for defective ignition switches. general motors is in the process but slowly, but as quickly as possible fixing those switches. ceo maria barra will be back on capitol hill next wednesday testifying not only on the internal investigation, but on the company's efforts t

phil lebeau, he has breaking news for us. phil? >> reporter: this has been speculated about for some time. tesla's ceo announced on the company's website that the company is going to open up patents for other automakers and others in the auto industry to use. he says this is part of the company trying to spur innovation and development of electric vehicles across the entire industry. musk saying in his blog post, we will not initiate any patent lawsuits against any competitors who, in good faith, use their patents to develop further technology for the electric vehicle and for automobiles in the industry. so there wyou have it, tesla opening up its patents for use by other competitors. this has been expected for some time. sue, tyler, back to you. >> thank you. it's a story that will develop throughout the day. i know you'll work it. >>> to the stock market now which is moving lower again today. as a matter of fact, we're just off session lows. could mark three straight days of losses for the s&p which is down half a percent. dow do

. >> we have to get to phil lebeau. another day, another gm recall. >> this is four new recalls being announced by general motors. 2010-2014 chevy camaros. the recalls have to do with the ignition switch in these vehicles. if a short driver or somebody who hits it with their knee, it could thumb back into the accessory position. 511,,000 2010-2014 vehicles. it does not appear this recall is directly related to the ignition switch recall crisis which involves vehicles sold between 2004 and 2008. guys, i hate to be like this with this running total, but we have now looking at 38 recalls in all by general motors this year covering 16.45 million vehicles worldwide. guys, back to you. >> wow. thank you, phil. phil lebeau, 38 recalls, 16 million automobiles. >> stock bottom at 0.53%. >> we'll leave it there right now. >> when do we do opentable? >> after the break. >> they'll have a stroke back at headquarter. >> but they've got -- >> i like that. i really do. >> bristol myers? >> coming up, priceline agreeing to an all cash

let's get to phil lebeau. what more have we learned, phil?er: mandy, this was strictly about the financial implications of the recalls, the investigation, et cetera. a couple of highlights, gm ceo mary barra told analysts that the company could have additional recall-related charges in 2q. keep in mind, the company has already taken $1.7 billion in recall-related charges. they do, however, say that they do not expect those charges and the additional ones in the second quarter to be material. general motors also expects to set costs for the compensation plan by the end of q2. remember, the compensation plan is for victims of those accidents involving defective ignition switches. by the way, the compensation criteria will be established by ken feinberg, august 1st is the deadline that's already been set for that compensation plan to be in place. and also general motors has raised the number of accidents now linked with the faulty ignition switches to 54. 54 is the new number. that is an increase from 47. guys? >> phil, thank you very much. in f

the jet will be making its international debut next month at the farm borough air show, where our phil lebeau will be. >>> oil is up against today, um more than 3% a week. the iraqi air force now getting involved in the fighting in the northern part of the country in a big way. will it turn the tide of terror? >>> and you know who else is arriving in the area? the united states navy, complete with an aircraft carrier. we will go live to iraq in two minutes' time, as power continues. liable it services like multi-layered security solution to keep your information safe & secure. century link. your link with what's next. ♪ century link. your link with what's next. ♪ ♪ [ male announcer ] if you can't stand the heat, get off the test track. get the mercedes-benz you've been burning for at the summer event, going on now at your authorized mercedes-benz dealer. hurry, before this opportunity cools off. ♪ . time to take care of business with century link's global broadband network and cloud infrastructure. we constantly evolve to meet your needs every day of the week. >>> welcome back to "power lunch

phil lebeau has that story next.tant when you're running a successful business. so we provide it services you can rely on. with centurylink as your trusted it partner, you'll experience reliable uptime for the network and services you depend on. multi-layered security solutions keep your information safe, and secure. and responsive dedicated support meets your needs, and eases your mind. centurylink. your link to what's next. that's keeping you from the healthcare you deserve. at humana, we believe if healthcare changes, if it becomes simpler... if frustration and paperwork decrease... if grandparents get to live at home instead of in a home... the gap begins to close. so let's simplify things. let's close the gap between people and care. ♪ >>> welcome back. news from godaddy.com. bertha coombs joins us with the details. >> go daddy, the hosting and domain services company filing to go public. they are just filing their s1. they have 12 million customers, they say. they don't talk about a ticker or where they would l