. >> you just can't walk into general motors. larry eventually made it to general motors but i think it took him 10 years also working another smaller concerns and still not in actual employee but a fireman and works for the subcontractor. and the other graduated in 1965 in the job search consisted of cutting class's to apply all auto plants in to hold down -- in town hall it was no coincidence that when the vietnam war was cranking up it was the perfect war for general motors because it was big enough to provide $750 million per year of defense contracts but not so big that it could not build cars light in world war ii. so 65 to 69 not a single month when the unemployment rate was higher than 4% in the united states for you could not be as lacquer the hippies had to create the alternative morality to justify themselves. so dog got married and bought a house and he was 20 and went on to work 37 years of general motors the course was set right out of my school he thought the baby boomers would be the last generation to earn more t

general motors has headquarters in the city. gm responded to industry decline by declaring bankruptcy in 2009. people living in detroit numbered about 1.8 million in 1950. now, there are just 700,000. the population decline led to a decrease in tax revenues, city officials have faced financial distress ever since. market experts have seen signs of recovery in the u.s. including the auto industry. but analysts say detroit's bankruptcy is a hangover from longer term problems. president barack obama and his senior advisors are reportedly monitoring the situation. a white house spokesperson said the administration is committed to working as a partner in detroit's recovery. >>> people are reacting to the news that their city has gone bankrupt. our correspondent maki hatae is in detroit. >> reporter: overnight it was dark in detroit simply because the city does not have money to pay its electricity bills. you can see the headquarters of general motors back there, the world renowned automaker, the heart of the american auto industry. i

that would have been letting general motors go as well. the bailout of general motors, obviously, there are other political pressures. it is not as if we operate in a free enterprise vacuum. we do not. connell: to that point, where do you think we are now? it was a mess back then. do you remember it differently than it actually was? not as easy as many would argue. now, we are a couple years removed from that. we are able to have this bigger picture discussion. will we ever be at a point where this goal of no bailouts can be realistically accomplished? >> i think it can be. again, let's remember, we have a lot of other considerations here besides our economy. there is this whole debate in washington now. each one of which unto itself depresses job growth and depresses the gdp. it is a conversation that makes no sense. the republicans do not increase taxes, which i agree, and let's reduce entitlements. connell: it sounds good on paper one way or the other. the market is up today. back about 15,000. find. nicole talked about manufacturing da

auto sals.z general motors is expected to deliver more good news today when u.s. auto sales are released for june. the broad industry set for its best month since 2007. we'll preview that report with michael ward in just around half an hour from now. >>> still to come, foreign minister reportedly resigned and the army says he has 48 hours to negotiate with opposition leaders. what can the egyptian president mohamed morsi do next? we'll have the latest from cairo. ♪ ♪ [ male announcer ] some things are designed to draw crowds. ♪ ♪ others are designed to leave them behind. ♪ the all-new 2014 lexus is. it's your move. in that time there've been some good days. and some difficult ones. but, through it all we've persevered, supporting some of the biggest ideas in modern history. so why should our history matter to you? because for more than two centuries, we've been helping ideas move from ambition to achievement. ♪ and the next great idea could be yours. ♪ >>> if you just joined us, a recap of the headlines today. mo hard morsi pressured from all sides a

you can see the headquarters of general motors back there, that world renowned automaker, the heart of the american auto industry. i asked people what they thought about the bankruptcy. >> that it's got on the a point where people got tired. we're paying services that we don't get. >> had no clue and i didn't know it was that bad here. i mean, i thought it was going to get a little bit better. >> i feel it's a good thing. the city needs to turn itself around. it's got start someplace. and this is what has to be done. >> reporter: people are naturally disappointed, but most know that something has to be done in order to make the city livable again. this may provide detroit with just enough breathing space to start rebuilding. reporting for nhk world, detroit. >>> the people who run china's central bank are taking a step to stabilize their country's financial markets. they're scrapping the interest rates banks can charge on loans. they'll stop people to stop getting loans outside the banking system and turn to banks instead. officials with the people's bank of china say commercial banks

motors, 3m, amazon and starbucks. the latter, too, should have fairly good results if i am any indication from my shopping of late. meantime, if you're shopping for back to school, it will cost more to buy pencils and, rulers and three-ring binders. prices for school supplies are higher to the huntington bank's annual backpack index. costs are up 7%. analysts aren't exactly sure why. it's a lot of the input costs starting to be passed along. almost every basic item expected to be more expensive. some by up to ten bucks. the national retail federation thinks families will spend an average of $634 on back-to-school shopping this year, that includes clothes, supplies and shoes. those shoes are always costly. >> ber think, always good to know -- get your starbucks, your mack. >> christina loren brings us the forecast. >> i'm also a very good consumer as well. >> 4:47. we have a good looking day shaping up. if you want to hit some ofhose back to school sales while they're still hot. 4:48. you can see a little fog involving

motors in china is being forced to give them capitalism typically displays the period of time when the wages are low and the profits i and then the transition when some of that has to be shared well certainly in china we see a number of problems i think not the least of which is that they're pegging to the u.s. dollar which artificially devalues their own currency and makes it difficult for people there to purchase their own goods but i want to get back to the role of the bailouts because you talked about companies finding a way to get around union contracts and they were hard fought but when it came to the chrysler bailout in two thousand and eight the united auto workers got forty cents on the dollar for their stake while senior bondholders got twenty nine cents on the dollar so it seems like contract law was violated by the government in favor of the unions yes that sometimes happens if the if the stars are aligned right but the more the more interesting example would be the more recent bailout and in the more recent bailout you have exactly the opposite in the more recent bailout t

motors in china is being forced to give them capitalism typically displays the period of time when the wages are low and the profits i and then the transition when some of that has to be shared well certainly in china we see a number of problems i think not the least of which is that they're paying into the u.s. dollar which artificially devalues their own currency and makes it difficult for people there to purchase their own goods but i want to get back to. the role of the bailouts because you talked about companies finding a way to get around union contracts and they were hard fired but when it came to the chrysler bailout in two thousand and eight the united auto workers got forty cents on the dollar for their stake while senior bondholders got twenty nine cents on the dollar so it seems like contract law was violated by the government in favor of the unions yes that sometimes happens if the if the stars are aligned right but the more the more interesting example would be the more recent bailout and in the more recent bailout you have exactly the opposite in the more recent bailout

motors in china is being forced to give them capitalism typically displays the period of time when the wages are low and the profits i and then the transition when some of that has to be shared well certainly in china we see a number of problems i think not the least of which is that they're paying into the u.s. dollar which artificially devalues their own currency and makes it difficult for people there to purchase their own goods but i want to get back to the role of the bailouts because you talked about companies finding a way to get around union car. tracks and they were hard fired but when it came to the chrysler bailout in two thousand and eight the united auto workers got forty cents on the dollar for their stake while senior bondholders got twenty nine cents on the dollar so it seems like contract law was violated by the government in favor of the unions yes that sometimes happens if the if the stars are aligned right but the more the more interesting example would be the more recent bailout and in the more recent bailout you have exactly the opposite in the more recent bailout

motors and chrysler the deal that was made created what's called a to wage a two wage tier system in in the automobile industry the old workers who are there all along keep. getting there twenty eight twenty nine dollars an hour all new hires can be paid as little as fourteen and fifteen dollars an hour that's an arrangement that is profitable for the oil companies but guarantees that detroit can never come back because i'm fourteen dollars an hour we're talking up poverty levels this city into the indefinite future these are arrangements that have been made continued to be made we have to decide whether the velayat the village will be of our society the cohesiveness of our community can withstand the already lead distributed wealth and income to the top that we have been encouraging and pursuing for thirty five years these are the fruits of the collapse of the cities of that policy and if we don't reverse them we will not get the cities out of collapse we are building a social explosion in this country by creating these kinds of disparities between rich and poor and i just want to e

. >>> a >> si actualmente manejas un vehículo ford, nissan, toyota, chrysler, honda o general motors y está estancado con un alto pago mensual de su carro, entonces ponga mucha atención porque tenemos importante información para usted que podría bajarle los pagos mensuales o hasta ponerlo en un nuevo carro. para averiguar cuánto usted puede ahorrar, llame al número que aparece en pantalla, representantes altamente capacitados, trabajarán para darle las mejores opciones. opciones que incluyen desde entregar su carro por dinero o simplemente

general motors, second quarter net income fell 16%. lemming the slowdown on europe, but gm solidly beat wall street expectations. for russians and ukrainians have been charged with running a massive hacking organization. the indictment said the group tt act more than a dozen major companies. attorneys in new jersey say they got more than 160 million credit and debit card numbers. a senate deal on student loans heading to the house where lawmakers have already voted on a deal linking interest rates with the financial markets. president obama anchorage in the house to vote quickly so returning students could enjoy lower rates. those are some of the stories right now on foxbusiness.com. among the comeback, taking internet tv by storm introducing a new device that cost : $35. we will show it to you. next, the hottest investments these days may be in small stuff. is the restores the report? were looking out for you and your money next. ♪ ♪ ♪ ♪ [ male announcer ] if y can't stand the heat, get off the test track. get the mercedes-ben

when you look at the second quarter for general motors, they beat the street with 75 cents. in north america, they did better than expected in north america, and then you also have what happened in europe. they have cut their losses in europe down to $100 million in q 2. it was $100 million they lost last year. this is improvement, and i like where they're headed, but can they sustain this? this is the engine behind the company right now. they earned $2 billion in north america in the second quarter, and you're looking at the strength in pricing and the strength in trucks. similar to what we saw with ford, not quite as much strength in gm in terms of pricing compared to ford, but generally overall that's what wall street likes. take a look at this, though. this is an interesting thing. look at the earnings beat. gm, ford, borig warner. yet the stocks have pulled back a bit. some are saying, look at the s&p manufacturing index. 30 times better than the s&p overall. so you might want to take a little money off the table. >> i'm glad you mentioned the prici pricing, because the

look at general motors up 6% year over year. best sales in september of 2008, general motors them to present as well. to the big board the dow is higher, cruising along, 56, the head of microsoft x box replacing zynga, those shares are up this morning. here is the question. are women who are more successful less likable? you will find out next. charles: united states spends an estimated $16 billion a year on taxpayer money to care for older americans and nearly $3 billion used for the health care alone. mind-boggling number. liz: some of these numbers are so shocking and so huge you wonder if there's a boondoggle somewhere. in michigan but the report is correct for the grand inmate per year, if a person is elderly in prison there's a lot of money going out the door. charles: a lot of money. the more successful women are in business the less likable they are by their peers. that is what cheryl sandberg says in her book been in. our next guest says that is not the case. the ceo of cyrus innovation joins us to discuss this, a real

. >>> general motors set to report after rival ford beat the street. more good news, we get a report from detroit. >>> eunice yoon will join us live from beijing. i want to make things more secure.whirring ] [ dog barks ] i want to treat more dogs. ♪ our business needs more cases. [ male announcer ] where do you want to take your business? i need help selling art. [ male announcer ] from broadband to web hosting to mobile apps, small business solutions from at&t have the security you need to get you there. call us. we can show you how at&t solutions can help you do what you do... even better. ♪ >>> a train derailment in spain killed at least 77 people and left over 100 injured. government officials believe the crash was an accident, and prime minister mariano rajoy is set to visit the site. the crash happened on the eve of the city's famous christian celebrations when thousands of pilgrims mark the festival of st. james. >>> spanish unemployment dropped for the first time in two years in the second quarter according to fresh data. let's get out to

motors and chrysler the deal that was made created what's called a to wage a two wage cheers system in in the automobile industry the old workers who are there all along keep getting their twenty eight twenty nine dollars an hour all new hires can be paid as little as fourteen and fifteen dollars an hour that's in a range meant that is profitable for the oil companies but guarantees that detroit can never come back because i'm fourteen dollars an hour we're talking up poverty levels this city into the indefinite future these are arrangements that have been made continued to be made we have to decide. whether the lot the village will be of our society the cohesiveness of our community can withstand the already lead distributed wealth and income to the top that we have been encouraging and pursuing for thirty five years these are the fruits of the collapse of the cities of that policy and if we don't reverse them we will not get the cities out of collapse we are building a social explosion in this country by creating these kinds of disparities between rich and poor and i just want to

have begun to put upward pressure on the wages that companies like general motors in china is being forced to give them capitalism typically displays the period of time when the wages are low and the profits i and then the transition when some of that has to be shared well certainly in china we see a number of problems i think not the least of which is that they're paying into the u.s. dollar which artificially devalues their own currency and makes it difficult for people there to purchase their own goods but i want to get back to the role of the bailouts because you talked about companies finding a way to get around union contracts and they were hard fought but when it came to the chrysler bailout in two thousand and eight the united auto workers got forty cents on the dollar for their stake while senior bondholders got twenty nine cents on the dollar so it seems like contract law was violated by the government in favor of the unions yes that sometimes happens if the if the stars are aligned right but the more the more interesting example would be the more recent bailout and in the more r

general motors is headquartered downtown. but ultimately the auto industry is not going to be the savior of detroit. yes, it should invest more in plant and infrastructure in the city. and maybe it will. because the jefferson avenue plant is very profitable right now. in the end, the solution is going to have to be bigger than reindustrialization, which is not likely to happen in the near future. >> we are both lovers of the great city of detroit. i thank you for your perspective of what they might do going forward. thank you so much for your time today. >> thank you. >>> parasailing, post-its and a justin bieber concert. the 13-year-old youtube makeup star died last week after a six-year battle with cancer. but her fans are carrying out her last wishes. her family posted the 74 item bucket list on talia's facebook page that is garnered already more than half million likes. fans are posting photos of themselves filling her dreams, getting a tattoo, and going diving. and keeping with talia's motto, just keep swimming. soft wou

government bailed out general motors and chrysler. it bailed out the two big companies in detroit for but it never bailed detroit. you could not have --the worst of it, part of the deal that brought together the federal government bailout, the state and the city, was to get the agreement of the united auto workers, the union, for what is called a two-tiered wage system. the old workers already in position kept getting their old wage. but all the new workers to be hired would be hired at half the old wage. instead of $28 to $29 an hour, roughly $14 to $16 an hour, which meant if the car companies could come back, detroit couldn't because the return of workers to the automobile industries would be workers paid $14 or $15 an hour, and that could see below the poverty wage in the united states. so this is an abomination in which the big corporations are bailed out and the very cities that depend on them are told to fend for themselves. >> what is the alternative to betting the pensions of workers? >> what we have now is a classic struggle

it's been 60 years generally but frankly general motors headquarters across the street, the city of detroit is build on the old general motors business model, benefit pensions, lifetime health care and feather bedded jobs that had union backing and management signing off on contracts to have union peace. general motors went fins up five years ago, four years ago, on that business model. why anybody would think that a city similarly constructed wouldn't wasn't thinking straight? >> some people might suggest though that maybe unions, the deals, the contracts are going to be made out to be scapegoats, that they are not the root cause, that the fact that the population is dropped by half, the tax base has tumbled, few people are paying taxes, if anything at all they are abandoning homes, that that's the real problem. >> well, by 2017, 65% of every dollar that the city was going to spend was going to go to legacy costs. that's -- there's your answer. >> no money left. >> there's nothing you can do. >> or even keep streetlights on, 40% of all streetlights don't work and 30% of the ambulances are

motors in china is being forced to give them capitalism typically displays the period of time when the wages are low and the profits i and then the transition when some of that has to be shared well certainly in china we see a number of problems i think not the least of which is that they're pegging to the u.s. dollar which artificially devalues their own currency and makes it difficult for people there to purchase their own goods but i want to get back to the role of the bailouts because you talked about companies finding a way to get around union contracts and they were hard fought but when it came to the chrysler bailout in two thousand and eight the united auto workers got forty cents on the dollar for their stake while senior bondholders got twenty nine cents on the dollar so it seems like contract law was violated by the government in favor of the unions. yes that sometimes happens if the if the stars are aligned right but the more the more interesting example would be the more recent bailout and in the more recent bailout you have exactly the opposite in the more recent bailout

general motors bankruptcy and chrysler bankruptcy. i was on the board when we had to go through bankruptcy and the airline emerged and at that time independent and stronger and ultimately merged with delta. this is not a pleasant process. i think they deserve in facing up to this and they have provided accounting and unfortunately detroit not the only city like this and unfortunately maybe the only state. we will learn from this and it's going hob hard and difficult and painful. >> it's not the first city to file for bankruptcy. >> not at all. by far the largest. >> they have seen others. we have seen others, as you say, for example, the auto industry come out of bankruptcy and even though those aren't analogous situations and much will be learned from this, are there lessons that you have learned about how this can work, how it can be approached? do taxes have to go up? where do you even start? >> i think what is sad is that, you know, a lot of times the auto industry gets blamed. you're so reliant. that is true. michigan and detroit

motors and chrysler the deal that was made created what's called a to wage a two wage tier system in in the automobile industry the old workers who are there all along keep getting there twenty eight twenty nine dollars an hour all new hires can be paid as little as fourteen and fifteen dollars an hour that's in a range meant that. it's profitable for the oil companies but guarantees that detroit can never come back because i'm fourteen dollars an hour we're talking up poverty levels this city into the indefinite future these are arrangements that have been made continue to be made we have to decide whether the velayat the village will be of our society the cohesiveness of our community can withstand the already lead distributed wealth and income to the top that we have been encouraging and pursuing for thirty five years these are the fruits the collapse of the cities of that policy and if we don't reverse them we will not get the cities out of collapse we are building a social explosion in this country by creating these kinds of disparities between rich and poor and bob i just want

motors and chrysler the deal that was made created what's called a to wage a two wage tier system in in the automobile industry the old workers who were there all along keep getting there twenty eight twenty nine dollars an hour all new hires can be paid as little as fourteen and fifteen dollars an hour that's in a region. that is profitable for the oil companies but guarantees that detroit can never come back because i'm fourteen dollars an hour we're talking up poverty levels this city into the indefinite future these are arrangements that have been made continued to be made we have to decide whether the lot the village will be of our society the cohesiveness of our community can withstand the already lead distributed wealth and income to the top that we have been encouraging and pursuing for thirty five years these are the fruits the collapse of the cities of that policy and if we don't reverse them we will not get the cities out of collapse we are building a social explosion in this country by creating these kinds of disparities between rich and poor and bob i just want to end wi

general motors sold about a thousand more types in cars last year. melissa: if we're not talking about a luxury car but looking at alternative space. we have alternative cars if you guys want to throw them up it competes against. the volt, the prius, the popular leaf. it is way more expensive. it's a lot cooler though. i don't know if we have the pictures. >> it's a wonderful car. i love driving it. it is great fun. melissa: there we go. >> it is typical, highers seem to be a wealthy guy, recently divorced who has -- melissa: saying midlife crisis but trying not to say it. >> who has two or three other cars he can rival for legislation. melissa: to pick up chicks. >> yeah. melissa: he can't count on it to get to work or earn money he need in order to maintain the lifestyle? he uses it when he wants to go out to pick up girl and make a estimate. >> it's a great statement. i'm a big fan of battery powered zero emission cars. i'm a big bike rider. mass transit rider. melissa: you interviewed elon musk. you tried to for that kind of stuff? he didn't like

the government really did help general motors. i'm sure that's a terrible time. >> incidentally, in terms of the middle class people. >> they are buying cars again. so there's, that express has gone to of course some confidence. it's beginning to drive the economy t. changes they made inside the auto companies, has the government helped them through the worst time and the fact that obviously they're selling globally. >> people that have three, four kids, you know, unless you -- you don't want to get stuck with a minivan. >> oh, you got two suvs. >> no wonder it's hot in here. >> are you pursuing energy efficient automobiles? >> absolutely. you look at all of these, all the auto makers. the volt is the one. >> they're selling volts. not as many as they would like. the sales are going in the right direction there. the bottom lean is fuel efficiency, if you look at the standard internal combustion engine, it continues to improve. >> that's the key. >> you said that to me on one of the news calls. i thought it was a great comment. the

charles: with the general motors bailout a watchdog says the stock would have to go at $100 per share just to break-even with the taxpayer right now would is below 40 but four did not take 1 penny in the profits are soaring and david tasman's it is proof we did not need a bailout. >> four did take many with energy subsidies a few billion dollars but generally they did not they have been making extraordinary cars the ford explorer drives like a cadillac but they've been putting off purchases this is a perfect time for car companies to sell because consumers were hungry they had been holding on 10 or 12 years so it is a perfect time but but lowry has a better perspective than i do >> the average car is 12 for 13 years old a lot of zero% financing, but ford is still outperforming and taking market share in a preferred @%oduct of the public doesn't have anything to do that management might be smarter what people once? >> they have the global warming platform he really is the genius behind this. '' we're selling it in europe with undercarriages they will use that here to save money. rememb

motors and chrysler the deal that was made created what's called the two ways. a two wage tier system and in the automobile industry the old workers who are there all along keep getting their twenty eight twenty nine dollars an hour all new hires can be paid as little as fourteen and fifteen dollars an hour that's an arrangement that is profitable for the oil companies but guarantees that detroit can never come back because i'm fourteen dollars an hour we're talking up poverty levels this city into the indefinite future these are arrangements that have been made continued to be made we have to decide whether the velayat the village will be of our society the cohesiveness of our community can withstand the already redistributed wealth and income to the top that we have been encouraging and pursuing for thirty five years these are the fruits of the collapse of the cities of that policy and if we don't reverse them we will not get the cities out of collapse we are building a social explosion in this country by creating these kinds of disparities between rich and po

motors y está estancado con un alto pago mensual de su carro, entonces ponga mucha atención porque tenemos importante información para usted que podría bajarle los pagos mensuales o hasta ponerlo en un nuevo carro. para averiguar cuánto usted puede ahorrar, llame al número que aparece en pantalla, representantes altamente capacitados, trabajarán para darle las mejores opciones. opciones que incluyen

motors and chrysler the deal that was made created what's called the to wage a two wage tier system and in the automobile industry the old workers who were there all along keep getting there twenty eight twenty. nine dollars an hour all new hires can be paid as little as fourteen and fifteen dollars an hour that's an arrangement that is profitable for the oil companies but guarantees that detroit can never come back because i'm fourteen dollars an hour we're talking up poverty levels this city into the indefinite future these are arrangements that have been made continued to be made we have to decide whether the velayat the village will be of our society the cohesiveness of our community can withstand the already lead distributed wealth and income to the top that we have been encouraging and pursuing for thirty five years these are the fruits of the collapse of the cities of that policy and if we don't reverse them we will not get the cities out of collapse we are building a social explosion in this country by creating these kinds of disparities between rich and poor and bob i just

two things standing out in the second quarter for general motor s. first of all in north america, they did see an improvement in terms of the profitability up to $2 billion, and some people are focusing on the net profitability, and lower compared to the second quarter of last year, and dan ammon told us that tax issues are to blame there, and less than the focus on the costs in launching costs there. the other issue getting a lot of attention is that they lost $100 million in europe which is an improvement compared to losing $400 million last yee, and this morning on "squawk box" this is dan ammon talking about correcting all of the problems in europe. >> have made progress in the first half of the year and led by market launches into the marketplace, and cost control we have been working on. we have a great team on the ground and improving in a very economic-challenged environment. it is good progress today. >> another story getting a lot of attention today is what consumer reports say about the 2014 chevy impala, and rave reviews. they gave the ca

charles: the markets were lower we're going to go no matter what >> the general motors stock would now how have to result in $100 a share simply for or simply for taxpayers to break even. by the way, by now it is below 40. before they didn't take a penny from uncle sam. sales and profits are soaring. >> they have been making great cars for years. also the consumers have been putting off their purchases for a long time. this is the perfect time for car companies to be selling of this market. because consumers are hungry and they have been holding onto their cars for 10 or 12 years. it's a perfect time. they have been making magnificent cars. i think that for sheer. charles: there a lot of junky loans out there. the board is still outperforming. taking market share is. it is the preferred product of the public. does that have anything to do with the fact that maybe management might also be smart enough to know what people want? >> it means that he is really saying that what we are doing in europe, we are going to do that here and save money. also remember the prime track of theirs come i

. >>> gracias >> si actualmente manejas un vehículo ford, nissan, toyota, chrysler, honda o general motors y está estancado con un alto pago mensual de su carro, entonces ponga mucha atención porque tenemos importante información para usted que podría bajarle los pagos mensuales o hasta ponerlo en un nuevo carro. para averiguar cuánto usted puede ahorrar, llame al número que aparece en pantalla, representantes altamente capacitados, trabajarán para darle las mejores opciones. opciones que incluyen

. >> si actualmente manejas un vehículo ford, nissan, toyota, chrysler, honda o general motors y está estancado con un alto pago mensual de su carro, entonces ponga mucha atención porque tenemos importante información para usted que podría bajarle los pagos mensuales o hasta ponerlo en un nuevo carro. para averiguar cuánto usted puede ahorrar, llame al número que aparece en pantalla, representantes altamente capacitados, trabajarán para darle las mejores opciones. opciones que incluyen

according to the special inspector general report general motors stock would have to sell for $95 a share for taxpayers to break even and right now the stock is trading at $36. the u.s. government pumped in $49.5 billion in 2009 to keep it afloat and now government still owns 14 percent of g.m. stock. also, the f.d.a. has given exclusive marketing rights to the plan "b" morning after pill which will be the only morning after pill available for both over-the-counter sales and to people with under the age of 17. this is after the f.d.a. decision to comply with the federal court order to lit age and sale with some versions over-the-counter if they generic but not to women under 17 for three years. >> the food and drug administration could be a step closer to beening menthol cigarettes which make it harder to -- make it easier to smart folk -- ease are to start smoking and more difficult to quit. it is said the best available science demonstrates that menthol have the same health effects at non-menthol. >> to brazil you can see this helicopter ready to listened with pope democrat ready to lan

general motors is progressing more quickly than plans. shares of schneider electric trading higher. confirmed a $5 billion friendly takeover of the british engineering group inventis. super mario and friends struggled to sell wii consoles. the fed wraps up its two-day meeting. new gdt shows the u.s. economy slowed on an annual basis in the second quarter. >>> okay. welcome to the program. plenty to get through today. plenty to talk about. coming up on today's program, india's biggest private bank reports. find out if the financial giant is weathering economic head winds in its home market. we'll be in mumbai. with the countdown to the fed's decision under way, we'll hear from one gold bull who says ongoing qe could support the precious metal. j.j. burn will join us from the states. and gdp growth, fred hawkman will be with us 11:40 cet. french carmaker peugeot, we'll have expert analysis from paris at 9:45. >>> all of that coming up. we'll start off with earnings. bnp paribas slipped by 4.7% from a year ago. the drop smaller than expected. stock is flat in paris. let's get more on t

and when ross perot voted no on the general motors board this was headline material. and of course, now as you know, from reading the newspapers of the role of the corporate board and what they're responsible for and the whole question of executive pay and all of this now is more fun than center did that was. so i was there for a fair part of the revolution. it was more of an evolution. and of course, starting in the early '90s when the chairman of general motors was pushed up by the board then there was just a rash of ceos being pushed out by non confidence on the part of a director that i think it's something that never have been spee for and by coincidence happen within six weeks when i left general motors. and i left for.reasons because i was tired of telling gm that unless you wake up and smell the burning pot he will be in serious trouble and i could not get the top management to take their heads out of this and long enough to see the world was changing in they would have to change. but he was forced out by the board then ahead of american express, and a whole h

motors on a big day for general motors with the sales increasing 6.5%, but the early report is pickup trucks, and we knew they would strong, but look for the big three to pick up the stock, because all of them are reporting gains of greater than 20% in june. >> yes. as you have tweeted 29 on gm, and 24 on the f-series of ford. amazing numbers. phil lebeau, thank you. >> 11 months later, knight is just completing the merger with gecko, and we will be joined by the ceo of knight. >>> and now could the ex-cfo of one company turn around zynga? ed 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. now get 200 free trades when you open an account. ♪ [ male announcer ] the parking lot helps by letting us know who's coming. the carts keep everyone on the right track. the power tools introd

what was good for general motors was good for america. that was a famous phrase. and it was the truth too. boy, there's been such a downfall. there's been a downfall starting in the mid-60s. let's go to steve ratner. you've got people on left that are going to blame let's say the reagan era and the coldness when it came to a series of cuts. you've got conservatives that talk about all of the pension plans and just how excessive they are. the fact that there's a living wage there. a, quote, living wage, that it's higher than the regular wage. and that there's one regulation after another after another that's brought detroit down. at the end of the day, steve, aren't those just ideological arguments? isn't this really just about an auto industry that moved overseas? >> it is in part, joe. you're right to trace the the decline of detroit going back a ways. what's interesting about the other bankruptcies that you showed a moment ago is they all had effects. jefferson county in alabama had a bad financing. they were in some ways misled by their bankers. all cutbacks th

high level controller and asynchronous motors on the wheels the motor generator and. the kinetic powered by the diesel engine into electricity which is then used to drive electric motors on the wheels all of these components and by the high level controller which makes sure the trying to drive is every command instantaneously just in the speed and direction of the wheels ensuring maximum fuel efficiency however also comes challenge was to integrate an electro mechanical transmission into an existing must produce truck the bellows thirty twenty two. now it's one thing to develop a completely new charger on this type of transmission from the ground will completely overhauling the transmission of the truck to specifically designed for this quite a different matter and this is where the brains of the t.m. came in. machine be such a development institute is also forms on specializing in electric motors for over forty five years and i'm pitching. as for the shipping industry trains. and countless occasions their experience and expertise has played a crucial role in developi

you had to bail out general motors. who pays for that? your money gets to pay automobile worker in detroit. it is crazy and makes no sens not competitive. >> kimberly, wrap it up. >> figure it out. hire me and come to my state. i am willing to work. i would rather have a job than not have a job, that's the bottom loin. >> way to wrap it up nicely. >> coming up, are americans gunning to them and getting is good. illinois is the last state to approve concealed >> well, it is now official, illinois becoming the final state in the union to allow gun owners to offer concealed weapons. gun and a mmo, sales jumping six percent a year. estimated sales 11 and half billion and background checks almost doubling and membership for the nra jumping and kg any connection here? >> i am a big advocate of the right it carry your firearms and i like florida's law in particular because it works well there. the obama administration so manies to act like they are antigun. people are buying more guns in his administration, more than ever. nra membership up and

general motors and honda are joining forces to create cars that run on a different kind of gas. the two companies plan to develop hydrogen cell fuel companies by 2020. they have electric motors that run on hydrogen and oxygen. gm and honda are pushing for more hydrogen fueling stations throughout the u.s. >>> a las vegas casino is going green with the second largest solar rooftop project in the country. mandalay bay on the vegas strip expects the 6.2-megawatt installation to be completed sometime next year. casino says it should generate enough electricity to power the equivalent of 1,000 homes. certainly got a lot of sunlight down there. >>> and virgin airlines is offering frequent flyer miles to four-legged passengers. the company will give members up to 300 points when they travel with a small pet. right now, the offer only is offer is also good on jetblue. >>> henry lieberman pulled in a 40-pound fish off the coast of alaska believed to be at least 200 years old. experts are able to estimate the age by the number of growth rings along the ear bone. can a fish that old be tas

my comment is that ford motor company and general motors and united auto workers all kinds of money has been sent to them and bailed them out of their going bankrupt and paid for their pensions. and then you think that the obama administration would have some control over ford motor company, general motors, both have announced new assembly plants in china. now, we catch this out of the paper and i caught it because the ceo of general motors was out there with a shovel with the rest of the chinese making the ground breaking. and i would think that somewhere in the united states somebody would be knowing that ford and general motors is going to build a plant, two plants in china and we don't know anything about it and the obama administration does nothing to try to stop it and move it back into the united states. host: we'll get a response. thank you. correct me if i'm wrong but ford was not part of the federal rescue. guest: it was gm and chrysler who were. but to his point on gm, if that's the case i don't know that story. i would like to read about it. there's this fair point to be mad

a number of big brands will report earnings, including ford, general motors mcdonald's and others are boeing, facebook, visa and ups. we will see what the home sales report was for the month of june. and new home sales figures will be out. and starting friday, at&t wireless customers will be able to upgrade their phones and tablets every year through a next monthly installment plan. >>> and charles barkley is a man not shy with his opinions. the nba hall of famer and basketball analyst joins me here explained why he is generous with his fans. >> you know, maria, no disrespect to you, there's only five real jobs in the world. teachers, police, doctors and somebody in the armed services. everybody else should just shut the heck up and enjoy life. they are important and significant. and if you don't have one of those jobs, you not take yourself that serious. i enjoy meeting the fans. i meet cool people in my life. >> we also talked about the time he and i hit the course a few years ago. by the way, do you remember when you and i played golf here? >> i played golf, you did something. i do

they outpaced general motors and vo volkswagen. >>> just a day after announcing a promotion giving three free months of netflix, google is pulling the plug on the offer due to overwhelming demand. the chromecast sells for $35. back to you. >> thanks so much, marry. >>> spirit airlines is poking fun at new york mayoral candidate anthony weiner and his pseudonym carlos danger. the airline is offering $34 vacation packages to cabo san lucas. >>> a brewing controversy over whether monopoly is getting rid of jail to speed up the game. they told the wall street journal is no longer a jail for players, but hasbro publicity manager told that atlantic wire that monopoly is gnot getting rd of jail after all. >>> the deal is believed to be worth up to $19 million a year, team owner jerry jones said that he wants this building to be more familiar than the white house. >>> straight ahead -- all of your sports highlights. you're watching "first look" on msnbc. protect your family... and launch your dreams. at legalzoom.com we put the law on your side. ♪ don't you wanna, wanna ♪ don't you ♪ don't

you had to bail out general motors. who pays for that? your money gets to pay automobile worker in detroit. it is crazy and makes no sense. not competitive. >> kimberly, wrap it up. >> figure it out. hire me and come to my state. i am willing to work. i would rather have a job than not have a job, that's the bottom loin. >> way to wrap it up nicely. >> coming up, aremericans gunning to them and getting is good. illinois is the last state to ♪ if youave high cholesterol, here's some information that may be worth looking into. in a clinical trial versus lipitor, crestor got re high-risk patients' bad cholesterol to a goal of under 100. getting to goal is important, especially if you have high cholesterol plus any of these risk factors because you could be at increaserisk for plaque buildup in your arteries over time. and that's why when diet and exercise alone aren't enough to lower cholesterol i prescribe crestor. [ female announr ] crestor is not right for everyone. like people with liver disease or women who are nursing, pregnant or ma

general motors as a whole has eight of the top ten most stolen vehicles. >>> the nba has raised their salary cap for the upcoming season a mere $700,000 to $58.7 million. with harsher penalties for teams that exceed that tax level. >>> all right. the soon to be most famous person on the planet, we'll have all those details next. >>> plus, all your sports highlights. stay with us. >>> now to the fevered pitch in london where britain's royal baby is due any day now. we've learned the baby's title will be the prince or princess of cambridge. martin fletcher joins us live now from outside st. mary's hospital in london where duchess kate will give birth. martin, good morning to you. this baby is about to be the most famous newborn in the world. >> reporter: that's right. richard. this is a once in a generation event, the birth of a new mon mark. the when the duchess goes into labor. this is where she'll come the private lindo wing and 31 years ago this is where prince william was born to his mother princess diana who would be a grandmother today if she were alive. two main questions, first