a five smaller -- mattias mueller is the former head of the porsche version -- porsche division of the company. martin winterkorn stepped down after admitting the car giant had been cheating emissions test. the new man at the helm of vw has his work squarely cut out for him. reporter: the car is volkswagen's international slogan, and it has come to represent a cornerstone of german innovation, until now. leadership changes hands and the new ceo faces an uphill battle, and that begins with pinpointing who is responsible for the biggest 78-year-oldw's history, and then recalling millions of cars affected worldwide. we invite all member states, in addition to the ones already doing so, to carry on the investigations and we need to have the full picture of whether and how many vehicles certified were fitted with the devices, bound by eu law. reporter: the next biggest task is ensuring the financial health of the company. standard & poor's has threatened vw'swngrade fee w's -- credit rating and the scandal could cost $18 million in fines, not counting the criminal and civil lawsuits that co

other cars did, other porsches did.is in the wrong but there are ledgitimate questions that could be asked. >> sunny, your perspective? >> if anyone can went a case, it's mark geragos, right? they can take an unwinnable case and win it. bottom line, in order to prove that porsche is responsible for paul walker's death, and let's face it, this was a beautiful, young, vibrant, talented young man, and that is -- his death is certainly a tragedy, but the plaintiffs would have to prove that the car caused his death. and we know that someone else was driving the car. we know that he was driving the car 80 to 93 miles per hour, brooke, in i 45 mile per hour lane. that tells me, at the very least the driver, who was an experienced race car driver, has -- bears, rather, some blame in this, in order to prove that the porsche was to blame, you've got to almost prove that porsche and the car was 100% to blame. i think that's going to be quite frankly, re, very difficult because if you're going 93 miles per hour, in a 45 mile per ho

if you want someone that knows the volkswagen and porsche family, you go with the ceo of porsche.hat mohler has going for him, he probably has a backing and he has it from the porsche family. as matt pointed out, it is a complicated process. you have the porsche family, legendary figure in german auto circles, he founded the company and then he has got his shareholders family members descendents. council,have the works a carpal union basically organization, and that 20% stake in lower which is the state where full is based. the other important thing is maybe go to on over and talk to the political leadership there and ask them whether or not they think mattea's mohler is an acceptable replacement. if they sign off and the porsche family is poor, the next ceo is mohler. scarlet: they will be dotting their i's and crossing their t's. out rightnes coming now. they are said to have proposals on the ceo successor by friday. originally, we thought that martin winterkorn would be getting the contract renewed friday but they plan to have a proposal on the new successor on friday. they als

porsches are designed to go fa fast. >> that will work against porsche. if they have experts that say no, his suit alleges he was going 61 miles an hour. >> they are not on a racetrack, they are driving, the passenger assumes responsibility when they get in the car. lou: we're going to. >> i don't get the porsche. >> they claim there were things that porsche still. lou: the truth is, the porsche has all of the money. >> deep pockets. >> we know that. you never know. >> tome brady -- tom brady. >> oh, tom brady. lou: changes the subject. >> yes. expedited time table, nfl, and roger goodell, as if beating out his brains is not enough, he has to draw attention to himself with his own decisions, insisting on a time table, appellate court ruled they will expedite it, how about february 1. >> this is silly. >> it should be dropped. lou: federal court system telling goodell and nfl grow up. >> it should be dropped, appellate court should just drop it, send it back we're sticking back with the underlying decision. i didn't like brady losing his quell phone but --

pimm: i will test the porsches, audis, and lamborghinis. rest.n test the volkswagen was the ceo that can minimize job losses. is it such a great idea to keep those employees when you are facing $2 billion losses? not if you need them. if you don't need them, volkswagen potentially faces quite an uphill battle working through all of the regulatory agencies, and not just the fines thepenalties from regulators, but the indirect reputation losses caused by the loss of consumer confidence, investor confidence as well and that could be much larger than the potential penalties. i'm wondering if you could describe the reaction in the german press. we know one in seven jobs in germany is somehow related to the automobile industry. well, there is concern. the local paper referred to it as "the volkswagen earthquake." it is notable that a week ago dr. martin winterkorn was riding high. he expected his contract to be extended on friday. now there's a report of their version of a auto magazine, a mass publication here, they were did not meet's x3 the pa

that's a porsche sitting on top of another porsche. not something you see every day.uries reported. guys, i think by law, those porsches have to get married now. >> i can't believe how perfectly they are situated on top of each other. >> yeah. you will never see that happen again probably. >> it looks like a animated cars movie. >>> thanks, andy. president obama and vladimir putin face-to-face. tensions are high and a long list of disagreements. (vo) what does the world run on? it runs on optimism. it's what sparks ideas. moves the world forward. invest with those who see the world as unstoppable. who have the curiosity to look beyond the expected and the conviction to be in it for the long term. oppenheimerfunds believes that's the right way to invest... ...in this big, bold, beautiful world. it wouland it turned onif you turned oeverywhere else.ne room but that's exactly how traditional cooling and heating systems work. so you pay more than you should. but mitsubishi electric systems give you a better way... with no waste and lower energy bills. control temperatures

let me read porsche's statement., in part, we're saddened whenever anyone is hurt in a porsche vehicle but we believe the authorities' reports in this case clearly establish this this tragic crash resulted from reckless driving and excess speed. you see what porsche is saying here. do you think no matter what the case is in terms of design flaws, this really is going to come down to a factor of speed? >> yes and no. i know it's the lawyer answer, but here's why. we're talking about two different causes of action in the complaint. you have strict liability and you have the negligent design cause of action. they look at two very different things. negligent design looks at the conduct of the manufacturer but strict liability focuses primarily on the safety of the product. if you read the california jury instructions, this is what a jury will hear. they will be asked the question that, did they create an unreasonably unsafe product and did the plaintiff use it or foreseeably misuse it? even foreseeable misuse will not de

porsche in negative territory. as a result of that impression, the other automotive makers today deutsche bank actually cut its full year forecast for its own market for the german dax by 1,000 points. they could hit 10,300. that would be a 7% gain. you will notice the german market partly a result of the big losses on monday. down 3% is still in direction territory. you do want to mention the fact that we've had good performance from some of the airlines. we had upgrades both on ease where i jet today and also on iag, which is british airways, iberia. up 5%. just for the sake of completeness, mario draghi was before the parliament today in brussels, and he did, again, reiterate that they are prepared to expand the scope and the intensity of euro zone qe if necessary. they also put out a news release saying they're dropping deutsche bank from that process. they are giving increasing buying power to the bank of france. the central bank will directly buy on other governments outside its own borders. busy day, guy. ba

with porsche say they can't comment on the specifics but are sad whenever any porsche -- anyone in a porsche is hurt and the company insisted that authorities determined two years ago that this tragic crash resulted from reckless driving and excessive speed, basically too fast and too furious, robin. >> okay, david, thank you. >>> to a florida woman who survived an encounter with an alligator that bit off her arm speaking out about her terrifying ordeal and abc's linsey davis is here with that story. good morning. >> good morning. through the whole ordeal rachel lillien that you will never lost consciousness and first thought her arm was broken then thought the alligator would let it go but later watched that alligator swim away with her arm. >> there's a lady that just got attacked by an alligator. >> reporter: this morning the survivor of an alligator encounter details the horrifying attack. >> i didn't realize it was a gator until i touched its head. it was a big reptile on my arm, clamped and not letting go. >> reporter: rachel lilienthal was swimming in waist deep water this aug

. >>> the actor paul walker's 16-year-old daughter has filed a wrongful death lawsuit against porsched on safety features which would have prevented a crash or at least kept the "fast & furious" star alive. >> this is paul walker in the last minutes of his life, checking out a 2005 porsche carrera gt, less than half an hour before his friend takes them on their final ride. in a new lawsuit filed by walker's estate and his teenage daughter, experts say the car was traveling between 63 and 71 miles an hour when it went out of control, the car spun clockwise, brushed a tree and struck a light post on the driver's side while still going 45 and 55 miles an hour. >> the lawsuit alleges walker survived the crash, only to be killed in the fire that started about a minute after the impact, saying porsche failed to provide an electronic stability control device that would have prevented the car from losing control. the lawsuit also says the side doors were not strong enough, allowing the light post to penetrate the passenger compartment, sending the shoulder and lap belts in different direction

paul walker's 16-year-old daughter is suing porsche. >> the actor was riding in a porsche doing morer when it crashed in 2013. the lawsuit filed claims the car had a number of design defects that trapped him inside. the family of the driver filed a similar lawsuit. >> it was porsche's fault. they put a ticking time bomb on the road and the bomb exploded. >> the lawsuit seeks unspecified damages. on "good morning america," more details on the safety shortcuts that the german auto maker is accused of taking. that's coming up at 7:0037. >>> it's almost 6:42 now. kate hudson's brand is now under investigation by the state of california. >>> plus the effort to reopen one store recently closed by starbucks. when some of the bakeries will turn on ovens again in the bay area. >>> and a look outside right now. san mateo bridge, things are going along just swell right now. in fact, a big gap that you almost never see on the bridge there. we'll be back with more news, weather and traffic right after weather and traffic right after this. that sound. like nails on a chalkboard. but listen to this

elevating porsche ceo this mayas muller to ceo. we'll have latest developments.yone this friday morning. we have what is moving markets, latest breaking news and and to expect for the day ahead. lauren: it is friday. janet yellen's comments sparking a global rally in europe and here in the u.s. asia saw a mixed bag. we saw the shanghai composite and kospi to the downside. nikkei higher in japan. deflation is part of worry this is morning. nicole: check this out. stocks in europe are roaring. you have two and 3% gains. ftse is in2 1/3%. dax is higher by more than 2 1/2% this morning. lauren: going into this morning the s&p is down 1.3% for this week but today it looks like it could erase all the losses in just one move. we'll see. s&p up 28 handles. dow is up 244 as we await key economic numbers as well. nicole: a check on commodities this morning. oil to the upside by a quarter. 45.17. gold to the downside after couple strong days. gold selling off $12. lauren: the dollar, we're seeing a strong u.s. dollar again because seeing euro, u.k. pound, canadian dollar, j

the first all electric porsche.it can travel up to 310 miles on a full charge and porsche claims it's only going to take you 15 minutes to fully charge the car. it's expected to hit the showroom floor in the next five years. >> pretty nifty. it's a porsche. >>> rain moving in. our computer is updating our rainfall totals and here it is, highest rainfall totals as we typically see this time of year, the north bay. that's where we need it. that's where the valley fire is burning. potential to up to a half an inch. will it help a lot? yes. >> thanks for watching us at 5:00. cbs evening news with scott pelley is next. >> pelley: scenes from a nightmare. flash flooding claims more lives as wildfires destroy hundreds of homes. also tonight, on the eve of the republican debate, the surgeon is surging. a college freshman dies after fraternity hazing. now 37 students face charges, some including murder. and the battle of britain. >> never in the field of human conflict was so much owed by so many to so few. >> pelley: includ

porsche hasn't publicly responded yet. walker died in november of 20- 13.fter his car crashed and burst into flames. still ahead. police are on the hunt for a mail thief in concord. dramatic video of the burglary. ahead. and a shocking discovery in one family's home. how a bag of marijuana came crashing through their roof. >> gary :and a leader in the broadcast we have the sports highlights--later in the broadcast >> brian :and temperatures in the valley made it to the upper 80s to will be cooler tomorrow >> catherine : a brutal murder in castro valley. the bodies of a man and woman were found in a mobile home trailer this morning. kron 4's j-r stone has more on the man police have arrested. >> j.r. :a man and woman were found dead in this room they say she was a strong woman who had battled cancer and the past. >>:she was a really good person she was awesome and a very good hearted >> j.r. :authorities will not say how she or the other victim were killed, but that they were murdered in the main room of the mobile home they lived in police say they're quest

but porsche always wants to do it better.ts and figures of that car, we will launch today, that should be better than everybody in the market. >> that said, the germans seem to lack the conviction of their billionaire rival. vw says a decision to put the vehicle into production will be made at the end of this year with a launch date of 2019. all that as gm's mary barra says the automaker has sufficient scale go it alone and that a tee-up with fiat chrysler is not in the share holders best interests. >> right now in florida, huge news from jeff besos, and blue origin. he is announcing they're investing $200 million into florida and will be building their reusable launch vehicle there. let's listen to what bezos has to say. >> you residents of the space coast have enjoyed this for -- >> they will also be building an engine, american made engine which the united launch alliance can use in its rockets. this is a big deal. this is the third of the so-called new space companies which is setting up shop in florida after spacex and s

who has been with the company for decades, heading porsche about four years.ppointed,ted, if not yet confirmed, but whoever is appointed is expected to try to tackle the scandal had on moving forward and win back the lost trust in vw. markus: that was jessica from berlin. car making his germany's biggest export industry and there are fears the scandal could tarnish the image of german engineering. some are worried the damage may spread beyond germany. one analyst warned the scandal may sound the death knell for diesel engines, which may be a blow for the european car industry. claims of the lower emissions and higher efficiency once made diesel the fuel of the future. over the past two decades, european governments and car companies have touted diesel engines as a cleaner alternative to petrol, but the mood has started to shift. last year the mayor of paris announced plans to ban diesel engines in the french capital by 2020. in the aftermath of the vw scandal, somewhat more. >> i call on the french president to take responsibility, stop diesel in the next five

the 16-year-old walker is suing money damages from porsche. porsche has just released a statement saying, it stands by the police report which says reckless driving and excessive speed caused the crash. >>> police make a major drug bust at a home in rockland county. 200 marijuana plants were all seized in an early morning raid in valley cottage. police were in gear because of how many marijuana plants were inside. they weren't sure what street value would be. >>> a travel ald viz dvisory has been issued in new york city because of the heavy rain we should see. we'll hear where it will hit most. >>> a software fix for volkswagen. what's miss frg their plan. >>> did you know today is national coffee day? shauna posted this in celebration. not too late to get your share. >> send a pic to us. it may be picked as social pic of the day. song: "that's life" song: "that's life" p song: "that'splife" that's life. you diet. you exercise. and if you still need help lowering your blood sugar... ...this is jardiance. along with diet and exercise, jardiance

he's the current ceo at porsche. >> the joy of victory. a team of 911 racing cars won le mans this year. the former ceo of volkswagen has knn mueller for a long time. in the last few years, they have both help seats on the vw board. the new fuel-efficient models -- a few weeks a, he also unveiled an electric porsche. this is what we mean by it. electric sports car. it must have a range of at least 500 kilometers. the carmaker's and earnings have been excellent for years. worldwide, 20,000 employees generated about two point 2 billion euros' profit last year. based on the number of employees,orsc is the most profitable automaker in the world. in the past, mueller was vague when asked if he could replace the vw ceo. >> all i can say is i have a i've-year contract, and i will honor it. >> he faces many challenges. above all, he must bring the automaker back on track and regain consumer trust. >> european union environmental activists have it criticizing emissions testing for years. they say procedures are laid down according to auto industry

according to sources right now r and d heads passenger cars, audi, porsche are set to go. >> glencorethe big mining company, the shares are hitting another record low this morning. glen core slumping to another all time low. this is as there's a bearish note on the stock. they're calling them the bermuda triangle. have a look at glen core accelerating its slide. we're off 10% at 8757. so well below that 100 p handle. let me bring you some of the most important comments from that. the challenging environment for mining companies leads us to the question of how much value will be left for equity holders if major commodity prices do not move. if they remain at the levels investec says absent substantial restructuring nearly all the equity of glencore is sliding. the company was taken off its earlier lows. since then they've sort of been in free fall since then. they're now down more than 1/3 from the september 16 close. do keep an eye on the shares now off by more than 10%. >>> let's move on. pro independence parties in catalonia have won a majority of seats setting the stage for talks t

paul walker's daughter filing a wrongful death lawsuit against wv company porsche. talk about her case. >>> if you're on facebook you may have seen some legal jargon posts filling up your news feed. most say ignore them. we'll tell you why. it's one of the most amazing things we build and it doesn't even fly. we build it in classrooms and exhibit halls, mentoring tomorrow's innovators. we build it raising roofs, preserving habitats and serving america's veterans. every day, thousands of boeing volunteers help make their communities the best they can be. : . deirdre: "fast and furious" movie star paul walker died in a car crash about two years ago. his daughter is filing a wrongful death lawsuit against porsche. 16-year-old meadow walker claims the car is responsible for the tragic crash that took her father's life. the chances of her case being heard, we're going to bring in our legal panel, attorney ebony williams is here as is rebecca lee graham. meadow says he survived and was burned alive. does she have a case? >> she very well might. this is completely tragic,

. >> the porsche c.e.o. will see bw through the storm scandal. companies facing legal action around the globe after cheating on pollution tests. the former c.e.o. stepped down wednesday as a direct consequence of the scandal. we will get analysis on the announcement in a moment. but first, let's look at matthias muller's to do list. >> it won't be an easy start for him. as the new head of volkswagen, the first thing on his agenda will be getting to the bottom of the scandal. wrecks i will do everything -- >> i will do everything to infect the trust of customers, staff, partners, and investors, and the entire public as well. i will act responsibly. now and then, your patience and ours will be put to the test. our main focus should be on being thorough instead of fast. >> he has been working for the group for 40 years. he turned porsche into the most profitable carmaker in the world. >> he has a mountain of tasks ahead, but his work is highly appreciated inside the company. under the circumstances, he will certainly be a good fit. >> one of his job

porsche obviously knows this is a big market, and they need to be in this market.ind of slow to the game. this car is not going to be out. >> this is a race car, literally a race car engine. this is maybe tesla should go -- deirdre: all the people who thought tesla wasn't a luxury enough mark, here we go from porsche. >> tesla is the company made by software developers, porsche is made by a bunch of gear heads that are trying to shift over to electric. deirdre: not so secret car project so, it does seem, if you know anything about cars and software, you just got a raise. >> yeah, it is very beneficial for a lot of people. and it's not really surprising because apple has had difficulty making a splash lately, and this is sort of their opportunity to jump in this new huge market and make a lot of money. >> new 1 percenters, i love it. russ, you said the smartest thing to me in a green room, you said you don't think it's a car, you said it's a software they will sell to bmw, like this story is strong that they are gearing this up. i welcome, this my bmw thinks it's in

i couldn't afford porsches and bostob.m.w.s. volkswagon's never been able to crack the code in the united states since the glory days of the original beetle. hyundai and kia sell three times as many cars in the united states than volkswagon. it's almost unimagine tobl think that. if there is something they've got, they're a niche brand here and this is a niche product within a niche brand. if they can somehow make this right, make their customers happy and somehow rebuild their loyalty, volkswagon owners are willing to take a lot. and if they feel that they're still driving a good car and a car that's fun to drive. let's not forget, this could be possibly fixed with software. the engineer who busted this scheme seems confident that good engineering could come up with a software fix for this that might only impinge your mileage by a few miles per gallon. that remainder may have to be made up to customers, maybe offer them a year's worth of free gas, something big to get out in front of this. but you're still looking at vehicles t

this is not the way to treat a porsche. the driver on top suffered two fractured vertebrae, he is in good condition, the one on the bottom, this is counter intuitive. was uninjured. >> at home, golfer jotte jordanh broke record for most prized money earned in a season. he took his 2020 total earnings past $22 million. he is youngest player in 86 years on win 5 tournaments in a single season, including this year's majors u.s. open, and masters, second youngest too win masters behind tiger woods, he is ranked number one in the world, at ripe old age of 22. >> up next, a few thoughts to voter choices for 2016. and nasa announcing a breakthrough discovery red plane on the, but how much of a breakthrough is it? really? we take up that exciting story and much more. stay with us. we're coming right back pxoo >> if you made your choice about who you want to be nominee of youparty, i am delighted for yo. but for many of us, that is not the case. i want to give you a few quick thoughts on political choices that we all face now. a

he was killed two years ago when the porsche he was riding in crashed and burst into flames. his daughter claims the car suffereded from numerous design detects including safe guars to protect the people inside. she is seeking unspecified damages from porsche. >> turning our focus to the weather and the deep south will see more heavy rain to send the month. we're seeing some of this extreme weather's impact. a mudslide in western north carolina destroyed a parking lot. the tons of mud and pavement narrowly missing a homeless veteran living on the property. he heard a noise, grabbed belongings and fled. there are no reports of vehicles being damaged, as well. as much as eight inches fell in mobile, alabama causing significant damages to homes and apartments and even a college dorms. many roads and, paing lots flooded. more rain expected in the gulf region again today. accuweather's molry cochran is tracking the system. the brand nufl tropical storms. good morning, molly. >> thanks, kendis pap we continue to watch tropical storm joaquin, likely to strengthen. it is over warmer

the porsche mission e. this is a concept car, but they say they can get this from 0-60 in the blink of an eye. ross -- sorry, john, if you had your choice, would y buy the mission e on the screen or the suv tesla? tesla has a proven track record with assembly line and the giga factory on the way. >> two different needs, i have an 8-year-old and a 5-year-old, i would go with the model s for that purpose, assuming i had the cash to buy it. ross, your point there's no competitor even close yet. we don't know where apple's intentions are. apple has the cash flow to get into the industry, but is apple going to plunk down billions to make their own car? we don't know that yet. what happens if apple pairs with ford or toyota or gm. >> those companies are so behind the ball! so behind. they are not forward thinking companies. liz: in the end. >> it's much more complicated. liz: audi, mercedes, these are companies that have announced. >> i've owned all these cars. i've owned aston martin porsche, the porsche is year

porsche has them in other models. porsche says we specifically don't because these are racing cars and they want the driver to have the control. to me the bigger thing in this is meadow is saying -- and this is really hard to hear -- but meadow is saying her dad-burned to death, that he was trapped in his seat belt, that there was a minute and 20 seconds between impact and the fire, and he had black soot in his lungs when he was autopsied. we knew a while ago that there was this black soot. law enforcement for some reason disputed it, but they are bringing this up in the lawsuit now. it just makes the crash more horrific. steve: i saw your report. it is troubling to think being trapped there. he was injured from the seat belt. couldn't get out allegedly, according to the lawsuit. it's really a tough way to go, if you go by the lawsuit. harvey, we appreciate it. good talking to you. >> okay, guys. dari: snowden tweeting the old agency. steve: the first twee tweet he sent today. dari: and students are learning from one

. >>> well, the daughter of the late actor paul walker is now suing porsche over the deadly accident that claimed her father's life. >> you'll recall walker was killed nearly two years ago when the porsche he was riding in crashed and burst into flames. investigators have said walker's friend was driving up to 94 miles an hour. now his daughter claims the car suffered from numerous design defects including safeguards to protect those inside. she is seeking unspecified damages from porsche. >>> a strange sports star erik roner was killed in northern california. the 39-year-old died yesterday after striking a tree while participating in the opening ceremony of a golf event. witnesses say that he slammed hard into a tree about 30 feet off the ground and was pronounced dead at the scene. >>> a student from belgium is reunited with her gopro camera thanks to the power of social media and help of a stranger. take a look. some of the video recorded on a gopro. tourists kayaking around santa barbara found by shannon clark while she was snorkeling. the video was still good enough even after m

it has been with porsche, the most successful unit of volkswagen.there is contention between volkswagen and porsche. matt: that's right. mueller was there leading candidate. but the question is how much did you know about this and how could he not have known about this? story will see this unfold. it is the gift that keeps on giving for journalists. scarlet: an matt miller is enjoying every second of this. matt: i will be back until tuesday. scarlet: much more coming up, including chicago's fiscal problems. rahm emanuel trying to fix the city's benefit. -- cities deficit. it will not be easy. ♪ sure, tv has evolved over the years. it's gotten squarer. brighter. bigger. it's gotten thinner. even curvier. but what's next? for all binge watchers. movie geeks. sports freaks. x1 from xfinity will change the way you experience tv. scarlet: welcome back to the bloomberg market day. we begin with ford unveiling its new line of super duty pickups. cars likerst time, the-two 50 are getting a new aluminum frame which helps shave off about 350 pounds -- cars ar

could porsche's electric concept car really give tesla a run for its money? we've got the video, the super cool looking car and both sides of that story coming up. >>> and mark zuckerberg fielding questions right now at a facebook town ham. we will bring you the late fres that event throughout the hour and you can choose to like or dislike. >> yes, you may do that now. you will have a choice. isn't that interesting? >>> let's get right to bob pisani who has been tracking this action all day. what interesting action we're having, bob. >> it is government things going on, first the day before the fed meeting and historically that is an up day for the markets, it's very well documented, the fed did a paper on this a number of years ago. we're seeing that exactly on queue. volumes on the modern side and many of the big cap names all up 2%. merck, pharma stocks, here is procter & gamble, up 12.5%. 7 million shares, a lot of the big global industrial names, 3 m trading here almost up 2.1%, volume on the moderate side. a lot of the other action stood in interest rat

porsche is claiming from roger's wife, who's had four claims against porsche, which have all been dismisseds going to set a precedent and make it difficult for meadow to settle. i understand she's upset about her father's death. i definitely feel for her and her family, but going after porsche, i don't believe she's going to have a strong enough case, although the attorneys are always there with their hand out and they love these cases. >> well, it was such a horrific death, though, because apparently paul walker survived the impact of the crash and then the car caught on fire and he died as a result of the fire. >> right. very sad. but looking at it, porsche is saying the car was imimproper maintained, had after-market components on it. the fuel line burst was due to the impact, had nothing to do with the fuel line. investigators are checking this out and saying could have been driver error, something wrong with the pavement. when attorneys get involved, it no longer becomes a personal, sad situation. it becomes, who can we sue? the car manufacturer, the industrial manufacturer, who plant

he died two years ago when the porsche he was riding in crashed and burst into flames. the car was speeding but the new lawsuit accuses porsche from equipping it with safety measures to prevent it from bursting into flames. >>> andrew penson claims t y robbed him of his right to sell space over the terminal to developers. penson says they wrongly approved construction of a massive tower next door. that tower is going to be called one vanderbilt. the pan am was built over the structure in the '50z. >> may not stop any time soon. >>> 4:41. just ahead, could have been much worse. the investigation launched when a crane tipped over on top of a police van. >>> plus, why your morning cup of coffee has a little extra meaning this morning. >>> and storm team 4 tracking some rain. weather and traffic on the 4s is coming up. don't forget, follow us on facebook and twitter, michaelg4ny, darlenedarlene4ny. you're watching "today in new york." ed, fios has it with the fastest internet and wi-fi available, from 50 to 500 mbps. but the main reason to get fios? we're rated number 1 in

guy: porsche is producing a battery card. that sounds like something for a small child but this is the real thing and it was very fast. we're looking forward to those conversations a little bit later on. we will speak to all of the leaders. that is a busy morning we will have. two minutes past 6:00 a.m. here in london. let's get an update to what is happening in the asia trading days. in the drivers seat, taking a look at shares across the region. a lot of events happening with the central banks after the political change in austria today. given the fact that we had new leadership there. malcolm turnbull. let's take a look at the equity session there. is dragging it down. look at the shanghai composite hearing it is on course for the biggest two-day loss in three weeks. here are some economic numbers from over the weekend. they are continuing to roil the areets because investors wondering how much further they will see these numbers decline. having an impact on the hang seng. in hongstock movers kong right now. you are seeing

porsche's suv's single-handedly resuscitated that company. volkswagen -- americans, they love their crossover suv's. that is the biggest blind spot in the volkswagen lineup. that is what they need to compete with or without diesel. erik: i will wrap up our conversation with this last question -- are we going to look back on this volkswagen scandal and say it was the greatest thing that ever happened to tesla? lawrence: it's hard to tell. it is a shame from a technical standpoint, for -- diesel continues to have promise. for as long as petroleum lasts. look at europe, 50% of new cars are diesel. they are green in europe. the technology has been proven that it can meet modern emissions standards. that is the biggest shame. you have a promising technology , very likely is a bridge technology, the we certainly not ready to take the world's cars off oil and all drive $100,000 teslas. this is a black eye for technology that did seem to show a lot of promise. that lack of trust bodes poorly for the tech in the united states. jamie: lawrence said the

. >>> and then there's this, paul walker's daughter sues porsche over her father's death and is a plea deal in the works for former house speaker dennis hastert over charges of lying to the fbi? >> and very very important forecast for the east coast this upcoming weekend. tropical storm joaquin has formed and could be heading to an area near you. details text on msnbc. when account lead craig wilson books at laquinta.com. he gets a ready for you alert the second his room is ready. so he knows exactly when he can settle in and practice his big pitch. and when craig gets his pitch down pat, do you know what he becomes? great proposal! let's talk more over golf! great. better yet, how about over tennis? even better. a game changer! your 2 o'clock is here. oops, hold your horses. no problem. la quinta inns & suites is ready for you, so you'll be ready for business. the ready for you alert, only at lq.com. laquinta! so you don't have to stop., tylenol® 8hr arthritis pain has two layers of pain relief. the first is fast. the second lasts all day. we give you your day back. what you do with i

the porsche stock is seeing gains. but i want to highlight bmw and diamler because other car makers have been in the emissions cheating. that includes bmw. and diamler also getting caught up in this. lower by 2.25. >> all right. chinese president xi jinping goes from west to east today heading from washington state to washington d.c. he will arrive this afternoon where he'll have a private dinner with president obama ahead of the formal state visit dinner on friday. >> more u.s. companies are naming deals with china. they ordered 250 narrow bodied jets and 50 wide body planes. they'll have a completion plan in china that will finish, paint and deliver aircraft in the u.s. union members are saying they stand to lose work to china but boeing says no jobs will be cut. microsoft has signed a pact to make baidu the default search engine and homepage in china for those that use the web browser. it will make it easier for customers to upgrade to windows 10. quick check on boeing microsoft and germany. >> walmart is seeking pr

he's the ceo of porsche. >> well done on the pronunciati pronunciation.auto makers and part providers are feeling the pain after the nikkei reopened. shares closed the session lower with parts maker denso falling over 5%. let's get back out to nancy who has been camped out at the headquaters of the w. who is the front runner here? >> well, the feeling on the ground is that the front runner is as you suggested, the ceo of porsche. he is a volkswagen veteran and knows all 12 brands and he is also quite close to the porsche family so that's something they like and he's also of the right age given that he could be around a few more years to help with the turn around until someone like diess comes in and is a ceo of the longer run but there's a lot of questions still left unanswered after the supervisory board meeting yesterday. the press conference in which they announced he would be stepping down and one of the ones they brought up was the criminal proceedings. they're looking into criminal charges in the matter and the company said they also believe that cr

potential successors include porsche's unit chief and vw's new brand chief.lor says leaders have placed an additional one billion euros for international agencies helping. war refugees in lebanon, jordan, and turkey. at a summit in brussels they agreed to set up several processing centers within the eu by the end of november to register and identify genuine refugees. the longest-running insurgency in the americas may be over. the colombian president has shaken hands with the leader of the farc rebel movement as they agreed to sign a peace deal. negotiations in cuba had been deadlocked for more than a year over whether they would serve jail time over a conflict that has left more than 200,000 people dead. folks lagan's super -- volkswagen's supervisory board will meet tomorrow as they seek and you see you after winterkorn 's resignation. hans nichols of life in location. hans, what is next for vw? hans: they have to figure out who the new ceo is. we have been here all morning watching cars come in and i have breaking news -- earlier, i thought of bmw. i have b

to bring in culture from porsche that has been on the sidelines. the way german companies are structured where you have a supervisory board comprised of 10 members representing workers and 10 members representing management, on that management side you have two px and two porsches. i think you will see them asserting more on the direction of the company. erik: jamie, can we raise another question about matthias mueller. why promote from within when it seems like the whole culture is so tainted by the width of the scandal? >> they have got to believe it is only a whiff. the air will blow clean. and it will all go away. they have promoted very much from within. they do have -- who came from bmw. bmw had a scare today where there was a report saying they had a diesel car that tested worse on the road. that has since been retracted in and the shares have rebounded. but it's just, it's who they have. it could be very challenging for them to bring in a transplant executive. and with mueller, i think what jeffrey is saying, you sort of have the best of bo

but porsche and volkswagen haven't been together that long, and in some ways porsche is also an outsideanother quick note -- volkswagen has hired kirkland and ellis, a u.s. law firm responsible for bp's settlement in their interactions with the u.s. government over the oil spill. anna: hans, thank you very much. hans nichols joining us from berlin. for more on the auto industry, j.p. morgan asset management chief investment officer, richard, joins us. simon is still with us. richard, good morning. thanks for coming in. you hold stock in the auto industry. not vw. but explain to us you're thinking about the car stocks you own. richard: from our point of view as investors, we overcomhave the andan and chinese stocks, this is mostly a problem for the europeans. aonically, it could be benefit to the korean companies, who could gain market share. but obviously it is a problem for the whole industry. guy: when you invest in a much canike kia, how you do about the engineering integrity, the products that they produce? you could look at a whole lot of metrics of the company, but can you get dow