Woman and will be gms first female ceo ever. I like the fact that she did a lot of what al mulally did, shes rationalizing production, thats important when you have gm, a lot of brands, make a lot of different cars. One of the thing great about the Great American manufacturing companies, they rapidly realized you have to make the same thing in europe, same thing in asia, same thing in the United States, nobodys that good to have that many fractured brands. She was the one quoted as saying gm, no more crappy cars. Thats a good mantra. Right. Certainly ackermans tenure has been a successful one. Yeah. When she takes over, not clear at this point. At least i havent heard it in the various news reports. I dont know if its immediate or is it timed to coincide with the governments announcement yesterday . I imagine so. This is the beginning of what could be a big dividend cycle. Gm has done so many right things. They have such momentum around the globe, in china, in the United States, europe coming back. Thats terrific news for gm. Gm has been a fantastic pension story. You revealed that, david, when you spoke to call bass. Theyre the single biggest beneficiary of rates going up. Takes down the discount rate so to speak and pension costs decline. There are a lot of other reasons you have investors piling into these shares. Not the least of which the government is gone now, having sold the 2 it still owned. Losing 10 billion, unlike a lot of t. A. R. P. Investments. The t. A. R. P. Has broke a little bit better. The banks, i was looking at the numbers for the most recent run, bank program, 245 billion disbursed, got back 233 billion. Not bad. Studies out of the centers for research saying it saved about 2 million jobs. For barra, her dad was a dye maker, a native of waterford, michigan, interned at gm before getting a job there and she does not the company from its dark time to its good times up. Ever bought a car, its a very joint venture when you go buy a car. A lot of woman input. Im not being sexist. We all know when it comes to 401 k investing, women pull the trigger. I always wondered why arent women more powerful at the its not a oneperson decision. Theres no lack of women, meg whitman, ibm. Everyone knew this was an old boys club. One of my best friends out of college want to gm. Its like gm was a Famous Country club for men, famous. And thats obviously no longer the case. Phil lebeau helped break the news before we got on the air. He joins us on the newsline. When do we expect some sort of official announcement, phil . Can you hear me, phil . Apparently not yet. Hope i didnt jump the gun. Well talk to phil as soon as he can. Reporter can you hear me . We hear you, phil. Go ahead. Reporter we just talked to General Motors, we have official confirmation about the story we broke. Theres a broader one here. Mary barra will take over as ceo january 15th. It might be having people say thats a really quick announcement and quick transition. Its been brought on by the decision of dan ackerman to leave as ceo virtually immediately. His wife has been diagnosed with advanced stage cancer. He has made the decision to take some personal time. So the succession has been moved up dramatically, and that has mary barra moving in january 15th. The president of the company will now become dan ammand, who was cfo. This is a day of transition. Employees will hear from dan ak akerson and mary barra. What was their previous plan that you were aware of in terms of akerson stepping down at some point next year . I got the impression last time i talked with him obviously they kept everything quiet, but i got the impression we were looking at something toward the end of next year, that he wanted them to get out of government ownership and really moving along a path for the next year and then he would step aside. Phil, we know she knows the product side. I guess some people will begin to ask how much she knows about the operation side. Your thoughts on that . Reporter i think she probably knows the operation side better than the product side, carl. You cannot overstate that shes had a number of jobs and roles at General Motors, but shes succeeded at them. On the operation side, the work she did in terms of streamlining operations, i dont have to tell you guys what a mess this company was for years operationally. And theyve done a heck of a job streamlining their operations worldwide. Still have a ways to go. Theyre not perfectly any stretch but mary barra was a key player in making that happen over the last three, four years. Phil, do you think that akerson will get any recognition . He did a remarkable job getting as much money as possible back for the government. Reporter i dont think, jim, hell ever get the recognition hes due, mainly because this became such a political story. On top of that, i think a lot of people look at the job he did as sort of a caretaker role, which is completely inaccurate. General motors is a far Different Company now than what it was when it went into bankruptcy. Even more important, dan akerson realizes theyre nowhere close to where they need to be or can be. Unfortunately i dont think hell get the recognition he probably is due. Thats terrible. Another positive on mary barra, she is the one who oversees the chevy volt. Reporter i dont know that we can call her the overseer but she was involved with it. Congratulations to mary barra and our thoughts with the akerson family. It was ed whitaker ran that for a while, too. This is the first ceo theyll have had in some time who clearly has been in the Auto Industry her entire career. A lot of these companies, the first thing you do is get the Balance Sheet right. Thats what we know at hewlett packard,s that what meg whitman did. Once thats right, you can start turning to Product Development. Ford, mulally did that joint bond offering and got the models right. I think because the fact that gm took a lot of tough firing, a lot of tough streamlining, gm is a better stock today. As it was pointed out last night, now freed of the shackles of pay caps and other business limitations because of that government motors label and the ownership of those shares. Buy back stock. Gm used to have this huge dividend. My late grandfather when he died hereby had gm stock and it was because thats what you owned. You owned utilities and gm. And thats a key underpinning to people buying at this level and also put in an executive Compensation Plan that will make it more competitive with its competitors. Freed up because of no government ownership and a new ceo coming in in a month. Legislators are set to vote to the on the volcker rule, details set to be released in an hour. The snow having an impact on this. It looks like its going to happen. The questions involve deadline. Will it be pushed back because of this delay and whether legal or legislative challenges happen in the months to come. I know this is against the prevailing wisdom for every reporter on this story, if youre a major break and you do a lot of prop trading, not only that the really good ceos knew that prop trading had become a suckers debt. What you really want a a steady stream of encome and proprietary trading is anything but. When i worked at Goldman Sachs, you hedge. Guys wake up and smell the coffee. They stopped doing this a couple years ago. They all saw the writing on the wall. So those banks that saw the writing, which ones are best positioned Morgan Stanley. It got out of this business. Its one of the reasons its stock has done so much better than Goldman Sachs. Theyve moved on, too, but the notion is this is going to kill the profitability. Morgan stanley has been the best at these and they got out. Did it kill their profitability or the fact that theyre gone from but theyre a Different Company from others for many years they were competing head to head. And jpmorgan, they made sure theyve become a bank with a very good Corporate Finance arm. It didnt stop them from losing 6 billion when they were supposed to be hedging. Probably one of the reasons they theyre getting this volcker rule was because of the whale. Yeah, if jpmorgan had had better rules in place with better compliance, that stock would be up dramatically. Had they had the volcker rule and this guy couldnt be a rogue. But remember, rogues have always been in the business and no law is going to keep a rogue articles are all like this is the end of banking. I want to buy every bank stop, first because of the yield curve and second because of the volcker rule. No one wants to write a story saying the banks welcome the volcker rule because maybe legal costs will be high. But Morgan Stanley embraces things hook, line and sinker and thats why its the best acting bank stock. Morgan stanley understood the volcker rule, embraced it and you are praying to the church of holy cow hey, i am about sorry about your sons fantasy league. Im still in. He woke up very upset. Beyond fantasy what i care about is the fact that the volcker rule is something journalists like to write about but any company that embraced the volcker rule two years ago, stocks are dramatically higher. Ones that havent, their stocks have treaded water. There, i rest my case prosecution rests all rise. When we come back this morning, in the new year there will be a new ceo at lululemon and the companys chairman is stepping down. More on those changes coming up. Also ahead, high tech menus. Well talk with Julia Stewart, ceo of dineequity. More squawk on the street live from post 9 when we come back. A. They always have. They always will. Thats why you take charge of your future. Your retirement. Ameriprise advisors can help you like theyve helped millions of others. Listening, planning, working one on one. To help you retire your way. With confidence. Thats what Ameriprise Financial does. Thats what they can do with you. Ameriprise financial. More within reach. Losing thrusters. I need more power. Give me more power [ mainframe ] located. Ge deepsea fuel technology. A 50,000pound, ingeniously wired machine that optimizes raw data to help safely discover and maximize resources in extreme conditions. Our Current Situation seems rather extreme. Why cant we maximize our. Ready. Brilliant. Lets get out of here. Warp speed. Time, time, time, see whats become of me while i look around for my possibilities lululemon will have a new chief executive come january. Lau laura potdevin. Wilson found themselves in hot water suggesting womens bodies shapes were to blame for their pants. He said frankly some womens bodies just dont actually work for the pants. Its really about the rubbing through the thighs, how much pressure is there over a period of time, how much they use it the board said you have to go. I think jefferies ought to go form app ad firm that says if youre not attractive, go home, Something Like that. Right . Weve known day is leaving, she is leaving. Shes fabulous. Apparently she has one kid left in terms of not having yet gone to college and really wants to spend the time. Transition quarter, not sure, apparel has been incredibly strong when it comes to sports appar apparel, g3 tonight on mad money. The first year of a transition of new ceo, my work my work. But its true, empirically, has not been a good year to buy. They come in, has to clean things up. Hasnt worked at ibm. Gm we should keep that in mind also. I find first year is very Marissa Meyer would argue alibaba. Shell just say that its her, nothing to do with the investment. When you come into a situation where its entrenched, people have been there a long time, you may discover some things you dont like. The company clearly has momentum. If you think lulu is good, nikes a better stock. Nikes one of my favorite stocks. And its stood through this controversy. Thats right. Nike was a real welcome addition because it is what we make world wide. Well talk about what manny tirico told you last night, jcpenney. When we return, well get cramers mad dash after the break. We failed to take out the intra day high yesterday of 18355. A lot more from squawk on the street still ahead. Capital to make it happen . 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And the doors even handle the checkout so we can work on that thing thats stuck in the thing. [ female announcer ] today, cisco is connecting the internet of everything. So everyone goes home happy. If every u. S. Home replaced one light bulb with a compact fluorescent bulb, the energy saved could light how many homes . 1 million . 2 million . 3 million . The answer is. 3 million homes. By 2030, investments in Energy Efficiency could help americans save 300 billion each year. Take the energy quiz. Energy lives here. So glad weve almost made it, so sad they had to make it, everybody wants to rule the world about seven minutes before the opening bell. Want to start out with housinho. Toll brothers. You read the commentary. Washington hurt sales this quarter and the rate increase hurt sales this quarter. All that said, they talk about pentup demand being really good for 2014. These are becoming 2014 stories as the calendar goes. 651,000 was the average house being sold before. Now its up to 700,000. So rich people are spending, Toll Brothers doing better, making more money per house and expanding into california in a more expansive fashion. This could be an umbrella for a whole bunch of stocks, whirlpool, lowes, lennar has good momentum, too. And with morgan creeping up. Its kind of interesting. We talked about the 10year when Interest Rates were going up. 2. 8, kind of amazing it doidnt bunch through where it was earlier, even though the economy was strong in the spring and summer. Dollar coming down versus the euro. Take a look at another stock, azio. Auto zone, ive said here is the way it happens, they reported a decent number. Then the stock treads water. Then the buyback comes in, david. Its the most aggressive of any stock i follow. Really . Yes. Number one. That is certainly one of the leading stories of 2013. And autozone is a better buyer back of stock. That always helps. Weep g we got the opening bell a few minutes away. A lot more trading and a lot more squawk on the street after this. vo you are a business pro. Maestro of project management. Baron of the buildout. You need a permit. To be this awesome. And you. Rent from national. Because only national lets you choose any car in the aisle. And go. You can even take a fullsize or above, and still pay the midsize price. aaron purrrfect. vo meeeow, business pro. Meeeow. Go national. Go like a pro. Became big business overnight . Like, really big. Then expanded . Or their new product tanked . Or not . What if they embrace new technology instead . Imagine a companys future with the future of trading. Company profile. A Research Tool on thinkorswim. From td ameritrade. Its 9 30. Youre watching squawk on the street, live from the Financial Capital of the world. The opening bell in a couple of minutes and a very busy morning. A new ceo at General Motors, a new ceo at lululemon. Steve liesman on the tape saying a taper in december is increasingly likely in his view after some comments that bullard made yesterday and the argument that certain tests for the fed have been essentially met here, jim. Well, i dont know. 2. 8 2 on the 10year. Maybe the economy is a little weaker. Thats certainly not saying taper. Neither is the dollar or gold. Im not going to get involved in taper. I dont care anymore. To me its earning, no earnings. Thats whats going on, thats how the market has changed. I see ge down, ford down, europe is down and these companies are now regarded as international companies. I think gm is a great opportunity to buy. The taper no taper ive been saying on mad money, taper no taper. You want to try to make money . Focus on companies. Bob olsteen, excellent interview. Some Companies Giving guidance. Texan did narrow their guidance. They saw 44 to 48 new guidance, previous 4250. Micron, a quarter ahead. Cypress, it a situation people criticized for sticking with t. J. Rogers, ive seen that stock starting to percolate. I like the personal computer space but i like tech very much. Well talk a lot more about the volcker rule vote today and mary barra, the new ceo of General Motors. Lets get a look at the opening bell at the exchange. The s p at the top of your screen. On the big board, Natural CompanySouthcross Energy company and at the nasdaq, syntel, outsourcing. Our eamon javers is outside the white house today. Reporter good morning. Its been a long awaited volcker rule. It bans proprietary trading by banks but there are several major exemptions. Just the preamble to this rule was more than 800 pages. This morning in a briefing given to reporters by staffers from this major agency. Let me walk you through the five exemptions. They are fairly complicated. First of all, underwriting. Positions must not exceed what regulators are calling reasonably expected demands of customers. Theres an exemption for Market Making in here. The trading desk inventory may not excee