of winding down the saturn brand and those saturn dealership in accordance with an agreement recently signed. we don't have the exact time frame how long it will take to wind down the saturn brand. the news is general motors will go forward closing down the saturn brand now that it failed to reach an agreement with penske automotive group to sell saturn to penske. again, the breaking news, general motors announcing it is going to wind down its saturn brand. >> thanks very much, phil lebeau. 7-eleven delivered a petition to capitol hill today with nearly 1.7 million signatures on it, urging congress to pass legislation from stopping credit cards charging excessive transaction fees. we have 7-eleven ceo and president mr. depinto. >> nice to be here. thank you. >> what is unfair, sir? >> clearly, interchange fees have been growing for many years, but in the u.s., we are paying twice the average of these fees that are paid around the world. visa and mastercard together have over 80% market share and have been unwilling to sit down with retailers in a meaningful way and negotiate those int

how many are solely saturn dealers, and what happens to the inventory of saturn cars now? would you buy one if you knew that they're going away? >> they're basically going away. >> gm will always service them. gm will take care of saturn customers and continue to service saturn vehicles for the future. they're not saying, hey, listen, after this date you're no longer getting service on your saturn vehicle. i'm not sure how many stand-alone saturn dealers there are. most of the ones i'm familiar with, they have other brands. maybe not on the same lot, maybe not at that actual property, but they have other brands that they can rely on as well. and that was the real key here. that's what saturn wanted, or penske wanted. they wanted those dealers within the penske automotive group. >> all right, phil, thanks so much for that update. we appreciate it. and if we can check on penske automotive shares in the after-hours session. we did see them spike higher initially on the news. we'll see where they are about half an hour after that news did break. there we go. they are in fact l

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 now joins the scrap heap of its past. chris bury, abc news, chicago. >>> bank of american announced today that ken lewis is stepping down as ceo at the end of the year. lewis has come under fire for the marriager with merrill lynch and big bonuses paid to executives at the same time bank of america

gm says saturn owners can go to gm dealerships for service once saturn dealerships are closed. >>> more potential confusion for parents over h1n1. which flu shot should students get first and why? >>> and baltimore city hall is in the pink. a symbol of our local fight for a cure. >>> yesterday, i gave you a two-degree guarantee of 67 degrees today. the high today officially at bwi marshall? got to, 66. which means we did hit that two-degree guarantee. we've now hit it six days in a row. do you live on bank street in baltimore? don, you scored an abc2 umbrella. we'll be right back. >>> the state health department is making new remitses for schools and the flu vaccine. urging officials to postpone the seasonal flu vaccine and administer the h1n1 vaccine as soon as it becomes available. delia goncalves is here to explain why. >> reporter: it can be confusing because information about h1n1 is constantly changing but here's the latest -- since h1n1 is the predominant strain of the flu virus some of your children will be getting that vaccine first since they are most at risk. harford county s

penske pulls the plug on its deal to buy saturn, so general motors says it will shutter saturn for good. >> paul: it's a third quarter to remember. sam stovall joins us as wall street wraps one of its best quarters in years. he's the chief investment strategist at standard and poor's. >> susie: then, dot-com and beyond. the number of possible web addresses will soon explode. we talk to the man in charge of keeping tabs on where you can surf in cyberspace >> paul: i'm paul kangas. >> susie: and i'm susie gharib. this is "nightly business report" for wednesday, september 30. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. thank you. 7//& >> susie: good evening everyone. ken lewis is stepping down as c.e.o. of bank of america. in a surprise announcement late today lewis told the board of the banking giant he'll be retire at the end of the year. he's leaving after a tenure marked and marred by the bank's purchase of merrill lynch january 1. lewis and b.o.a. have come under fire since it was learned mer

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 charged in one of these probes into h

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

gm said they are going to wind down saturn brand, eliminate it all together. it will happen by the end of 2010. if you own a saturn, 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. >>> the ceo of the nation's largest bank is stepping down. ken lewis, ran bank of america since 2001. he's under fire. he will exit by the end of this year. no word, yet, on a successor. >>> there's evidence about the health care debate that makes some say the most incendiary things. republicans are calling for an apology from allen grace lan who summed up his view of the republican approach to health care. >> do you want the democratic plan or the republican plan? remember, the republican plan. don't get sick. if you do get sick, die quickly. >> he said, today, the only people that deserve an apology are those without insurance. he compared america's health care situation to the holocaust. >>> some of this nation's bravest. the folk that is come when we c

the saturn brand will be no more. gm will shut down saturn unit after talks fell through. 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 secretary janet napolitano. mrs. napolitano, a question a lot of lawmakers have are you getting the resources you need to foil

gm noways it will phase out saturn andts distribution network of 350 alerships. we'll learmore about this tomorrow, as we talk witgm's global marketi direcr michael di-giovanni abt the automaker'september sales mbers. it was a rough sta for wall street tod as investors fosed on a weak private reing on employment and a survey showi a contraction of mid-west manufacturing activy. by 10:00 a.mthe dow had tumbled 130 ints with the nasdaq off 28 points. ca-laden investors bought into the weakne lifting the dow to 13 pnt gain by 1:00 p.m. with the nasdaq up 11 points. energy and tecstocks led the comeback, helping thmarket closwell above the day's lowest levels. >> susie: it's one of th biggest initial public offings thisear: late today casino operatorynn resorts raised more than a billion and a lf dolls in an offering for its casino and resort in mac. the stock begins tding in hong kongn thursday. september has been busfor new blic offerings. after a drought in t i.p.o. market d to the recession. so is this the begning of a gusher of newly public companies? sct gurvey

general murders is shutting down saturn. 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 mothe

if you own a saturn car you will still get service at gm dealerships once the saturn places are closed. >>> how this tiny device keeps you focused on the road. >>> an earthquake rips through indonesia killing hundreds. why are earthquakes hitting this part of the world? that story tonight on the cbs evening news. >>> 9news now is sponsored in part by your local toyota dealer. >> the next dr. oz show. parentheses have a place but not on your face. smooth those lines away for up to a year with juvÉderm®. juvÉderm® is a smooth injectable gel your doctor uses to smooth out wrinkles like those lines on the sides of your nose and mouth instantly. side effects... usually mild to moderate included temporary injection site reactions like redness, pain, firmness, swelling or bumps. smooth, natural. everyone will notice but no one will know. ask your doctor about juvÉderm®. i always feed in the fall. but, it's the best time. feed your lawn in the fall. the fall feeding makes all the difference in the world. what the fall feeding does is build the roots. that's when the roots sorta want nutrition.

general motors says it is going to phase out the saturn brand.rd on exactly when that will happen but it all comes after the pennski motor group says it is no longer issued in acquiring saturn putting 15,000 jobs at risk. >>> nearly 6000 dead and half a million injured. transportation secretary is calling distracted driving a men a menace to society. experts say it is just as bad as driving drunk. we did get a look at a brand- new device that could help addicts kick the habit. you can tell if your car is moving then it will lock you out of everything from texting to e-mails on the internet. >> this is great i guess for parents. >> parents, employers. anyone that is concerned about the people that are driving their cars and their safety. >> and if you are thinking to yourself i'm not putting on my phone they hope insurance companies will give you a break if you install the device. >>> operate o of 7-eleven stores gathered today and want congress to pass a bill that would stop credit card companies from charging what they feel are unfair fees. one

it has its own engine unique to the saturn, its own transmission unique to the saturn.a manufacturing process for the engine that was unique, you know, a unique body chassis design with plastic body panels on basically a steel space frame. very, very high investment. ultimately, it failed. >> reporter: is that what the future holds for local motors? >> um, that's what the odds would say. >> reporter: so you're not optimistic? >> i'm not optimistic. i admire their spunk, but i'm not optimistic. >> reporter: the history of the car business is littered with people who tried to start car companies and failed. how do you know you're not going to be one of them? >> well, i think if you didn't have a healthy skepticism about your ability to... or a healthy respect for your ability to fail that you probably would be fooling yourself. i was a marine for seven years in active duty and combat and if i didn't go to battle everyday scared, i would have been scared for myself that i might have been making bad decisions. we have a good idea. we are executing well, so far. that gives m

general motors is shutting down the saturn brand. 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

general motors announced it is shutting down the saturn ran. an agreement fell apart today, and saturn and its dealerships will now be phased out. >> we are just about done with the month of september, about to step into october, and right on cue, october-like eric is on tap for the region deceiving. sprinkles moving across parts of the eastern shore. an outside chance you might hear a little under down around cambridge, but north and west of there, things are already drying out as the chilly air moves in. for allegheny county, there is a frost advisory in effect for tonight. that shows you how chilly it is. >> a heads up tonight, the state of maryland has installed its first speed carry networks on. today in prince george's county, it was demonstrated that it will work. large signs will be placed to let drivers know the automatic speed cameras are in use. there will be used in three work areas including on i-95 in prince george's county. the fine for a speeding violation is $40. >> distracted driving is being called a menace to society. today

continue to follow late breaking details of detroit, where general motors announced it is closing its saturn operation. what it means for possible >> it is a beautiful october pattern, cool and comfortable. the last of the showers clearing the eastern shore, the leading edges and chilly air, cold enough for frost advisory in allegheny and garrett counties. they are skipping right over fall, but here, we get to enjoy a beautiful star to the month of october. sunny skies and 67 degrees. a little bit of cloud cover coming through in the range may linger friday night and into saturday morning, but then it clears out. staying in the low 70's through the middle of next week. >> thanks for joining us. nbc nightly news coming up next. we will see you back here tonight at 11:00. [captioning made possible by constellation energy group] captioned by the national captioning institute --www.ncicap.org-- >>> on our broadcast tonight, twin cry cease as mother nature

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 know how to use? >> it's got a refrigerator. i know how that works. >> i like that. >> you know, carrying a six-pack of beer around in the car, is that -- >> it's supposed to be for water and juice and sodas for the kids. >> that would be a better idea than having the beer right there. >> yeah. bad idea. >> it's in the back seat. coming up, we will get your business traveler's forecast. later today, we have two wall street heavyweights, one year later. wilbur ross and ace greenberg on the financial crisis, the global recovery and where they're putting their money right n

. >>> the orbiterer has beamed back stunning images from saturn. scientists thought the rings were nearly completely flat but they were surprised to find bumps some as high as the rocky mountains. >>> a massive dust storm swept across parts of australia, engulfing sydney. the clouds caused major problems on the roads and the airports. hundreds of people also reported breathing problems. >>> now here's an early look how wall street will kick off the day the day. >> the dow opens 9,829 after gaining 51 points on tuesday. the s&p added 7. and the nasdaq rose 8 points. >>> taking a look at overseas trading this morning, in tokyo, the nikkei was closed because of the holiday, while in hong ng, the hang seng dropped 05 points. >>> a weakened dollar sent commodities higher tuesday, giving investors a reason to shop for stocks and place bets that the fed will leave things status quo. investors were confident the nation's central bank will keep interest rates steady and leave its current economic policies unchanged. they will be listening this afternoon whe

the rocket is about the same size as the massive saturn rocket 40 years ago used in the apollo program. >> swimsuit or no swimsuit. that's the issue causing a commotion in california. stretch of beach is a hangout for those that prefer to forego swim wear for many years. now rangers are handing out tickets to anyone that is not adequately clothed. >> after 30 years it is completely wrong. unconstitutional. and i will be here to fight it and protest it, if they say it is illegal. i will be here. >> well, the state successfully argued that the nude beach should be shut down to protect the public. the nudists say the beach is sec clueded and several miles away from public view and taking the fight to the state supreme court. . >> ravens defense has not allo now you can save more every time that you shop, with thousands of items at prices that pop. now double the number of deals through the store, with your new card, you can't help but save more. it's specials each week on the things that you use, and real deal savings, now how can you lose? low prices every day in every aisle, top off the

heres werner von braun posing before, you can see four of the five engines of his masterpiece, the saturn v, and these engines, even thougwe have the finest rocket team in the world, it took seven years to make these engines because the eines kept owing up. you actually want engines to blow up because basically when you fly a rocket,ou are flying enormous bombs with explosions pointed in one direction. these explosions were n pointed inne direction, they were blowing up in all different directions which is what it took seven used to make these engines. the other incredible thing about these engines is if you look at a lot of the history of rocketry, you see the rockets crashed in their launch towers a lot which is a problem you don't want, to crash into your lunch hour. these rockets have gimbals that sliglyilt so that you can slightly tilt your rocket away from your launch pad and avoid hitting the side. e other thing about them that is so incredible is the werner von aun team engineered these giant hold dn arms to keep the rocket fromnly rising a little bitntil all of these enormous mot

but now in addition to the moon ice has been discovered on mars and on saturn and jupiter's moons makingar system seem much more friendly. >> it's a really profound discovery. >> reporter: it's unclear how the discovery will impact the debate in washington over nasa's future. but some scientists hope it will give a boost to plans to return to the moon by the year 2020. carla wohl, abc news, los angeles. >>> coming up on world news -- the mastermind of the new york terror plot charged with conspiracy to set off weapons of mass destruction. >>> after all these years medical researchers may be making progress on an aids vaccine. >>> why are so many seniors scared of health care reform? >>> i'm megan pringle. everyone is trying to save a buck or two. that's why we have our "financial survival guide" on abc2 news. abc2news.com. there's new information on there everyday. are you going camping this fall? 11 tips for enjoying the beauty of the outdoors and preserving it for the next generation. plus, one imagine ingredient that gives you five ways to save money. and it's probably in your pantry

. >>> stunning new view of saturn and its famous rings tonight. it's from nasa's spacecraft.just looks like computer animation. it's like putting on 3-d glasses and seeing the third dimension for the first time. you have to love it when scientists rap it. more evidence of dramatically changing times from the president of verizon, one of the larger spin offs of the phone company. according to new york times he told an investor a few days ago, the company was quote, simply no longer concerned with telephones that were connected with wires. millions of americans are cancelling their lan lines and going wireless. the largest company is controlled by verizon. while all of us haven't been, we're told it's usually a nice crowd of cultured civilized people who make up the audience at the metropolitan opera. it was anything but last night as a new staging of the reliable classic "tusca" did not go over well. when they took their curtain call, they were booed off the stage. you can judge it for yourself, if you would like. it will be shown live in must've vi theaters around the world o

a probe landed on one of saturn's moons. it has been sending back pictures and nasa says they show lakes filled with liquid. it's the first time liquid has been found someplace else in our solar system. >>> how would you like to spend part of your school day, dancing? sam tells us about a program that's transforming lives by leaps and bounds. ♪ >> reporter: shimmying across the stage are some of the 35,000 students who take part in the national dance institute dance program. every year, the ndi offers them dance classes taught by professional artists. ellen weinstein artistic director the arts, and dance in particular, engages emotion. and when emotions are engaged, learning happens, children become excited about learning. >> ndis mission goes far beyond dancing. any of these teens will tell you that they have learned a lot more than dance moves. >> i have, more confidence, more self-e self-esteem in myself. ever since ndi came to my life, i've been not the shy person that i have been before. >> dancing in this program has g

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

. >> couric: it was once seen as the future of american car companies, but saturn will soon be history said today it's shutting the division after a deal to sell it to auto racing giant roger pinsky fell apart. a spokesman for pinsky says he walked away when he couldn't find another company to build the cars. in other news, the dream team pushing chicago's bid for the 2016 olympic summer games is nearly complete. first lady michelle obama landed today in denmark where olympic officials are meeting. tonight she got to meet one of her childhood heroes, gold medal gymnast nadia comaneci, one of the former olympians helping to sell the windy city. the team captain, meanwhile, president obama, arrives friday ahead of the final vote. national correspondent deal reynolds has more tonight on the battle for chicago. >> reporter: with nearly three million residents, chicago is a bustling, big-shouldered city where it's felt the summer olympics would be right at home. >> we have an opportunity to really showcase chicago. we know we can deliver a spectacular olympic and paraolympic games. >> repor

the sun, mercury, venus, earth, mars, jupiter, saturn, uranus, neptune -- it's not "your anus."le, giggle. some people want to become doctors, lawyers, teachers. some people just want to be famous. they don't care for what, they just want to avoid doing any real work and get a good table at spago. so, here's some folks who can't wait to be famous, and here's their chance. one of the first things you've got to learn is how to make an entrance. there's a first time for everything! hey, hey, hey, all you guys and gals out there... even when you're working at your day job, you've still got to find a quiet place to practice the talent that's going to make you the idol of millions. [ tchaikovsky's "nutcracker" music playing ] this fella's already on his way to fame and fortune. who else can conduct like that? you can't build a career on looks alone. you need a gimmick to hold their attention. there is one thing that all of us have in common -- here and all of you watching at home. we have all experienced the miracle of birth firsthand. i don't remember much about my birth. my mom was

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

general motors said it will shut down saturn unit after buyout talks with pen ski motors fell throughbank of america ceo ken lewis tells his board of directors he plans to step down at the end of the year. >>> weak dollar, helped the dower in years. major industries turning in back to back gains for the first time since 2007. weak readings on midwest manufacturing and jobs dragged on stops. a slowdown in the midwest could signal a wider national reversal. the national report on manufacturing is due out tomorrow. that's it from cnbc, first in business worldwide. now back to "hardball." >>> welcome back do "hardball." a group of retired generals and admirals rallying behind president obama's push to close the terrorist detention facility at guantanamo bay. 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 neo conservative 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

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