Top much our show tonight. General motors recalling another nearly 1 1 2 million vehicles. This time over issues surrounding the sudden loss of power steering. Now the models include chevy malibu and cobalt, saturn auras and ions and pontiac g6s. The stems from 2004 all the way to 2010. That brings total number of recalled gm cars to nearly 4 million although there is some overlap with previous recalls. Just adding more fuel to the fire as gm Ceo Mary Barra will head to capitol hill tomorrow where she is expected to apologize. We have alan kim, former senior enforcement attorney with the national highway Traffic Safety administration. Welcome back to the show. Great to see you again, sir. A long history at nshta. Now we have more recalls coming from gm. What do you make of this . They say that General Motors will replace either the power steering or the steering column. Are you surprised . Well, there seems to be at least temporarily some increased focus on safety at General Motors. Maybe it is in reaction to the congressional hearings. Gerri do you think that theyre being forced to do this because of all the press attention, all the public scrutiny right now going on of their company . I think that has a lot to do with it. Gerri you know, mary barry, as i just said mary barra, will be in front of a tough committee, energy and commerce. Tough questions expected. There will be an apology. She says she is sorry for everything that went wrong s that enough . What else needs to happen . She said she is sorry but what is she doing about the victims of the accidents, crashes, fatalities, serious injuries that occurred during the time of the gm bankruptcy but after gm should have done a recall . Until she is going to do something to set up a Compensation Fund, take care of those families it is just all idle talk. Like damage control but what is she actually doing for those victims and their families. Gerri we got her testimony which is to be delivered tomorrow. Here is what she supposedly will say. I can not tell you why is took years for a safety defect to be announced in that program but i can tell you we will find out. We will not shirk from our responsibilities now and into the future. Todays gm will do the right thing. My sincere apologies to everyone affected. Im deeply sorry. You say sorry is not enough. What kind of Compensation Fund would you like to see . Well, there was talk of a billion dollars or more for people who are injured, or for their families in case of fatalities with people who were injured in 2005, 2006, 2007, 2008, up until the bankruptcy where the new company says, the new General Motors says, we have no responsibility for that because that is prebankruptcy. That was the old gm. It was a Different Company. Gerri right, exactly right. The company itself saying we have no responsibility because were in a new company. Were a Different Company of the irony the ceo will be testifying on monday is a woman who spent i believe her entire career at gm. This is not a new company. This is the same company, isnt it . It is largely the same people. It is legal distinction that after the bankruptcy, the new gm took over the assets but not the liabilities of the old gm. And as i said, to you previously, because the recall should have been done well before the bankruptcy, gm is in effect being rewarded for not having done the recall during those years before the bankruptcy. Gerri thats right. Thats. Here is fred upton who leads that house energy and commerce committee. Here is what he has to say about this. He is listening in obviously tomorrow. Lives were at stake. Well pinpoint where the system failed we know the red flags are many. Those responsible failed to connect the dots. Upton sound like he will conduct a very serious inquiry but at the end of the day is this more dog and pony and less about reality. So far congress appears to be rather bipartisan on this which is somewhat unusual for congress of recent years, particularly the house of representatives. Both republicans and democrats seeming to agree that a recall should have been done earlier. And i hope they will give nhtsa more resources and more authority to compel manufacturers to do recalls earlier. To have significant Civil Penalties and criminal penalties for manufacture you ares who shirk their responsibility and give the agency more resources, more manpower, more budget to investigate these matters. We have a long way to go before we get there but before you go i want to talk to you about news from delphi on this topic of gm came out over the weekend. Delphi says gm approved, gm approved the ignition switches ones in question even though they dont meet specifications laid out either by the company, either by delphi or gm. What do you make of that . Well, evidently the company was in a rush to get the vehicle out and took, didnt want to pay additional tooling costs to come up with a better product. I saw the, the report of the majority staff of the House Committee holding a hearing tomorrow who has released late yesterday and they had a pretty detailed chronology of events based on documents they have seen so far and they clearly shows that gm knew about this problem and that there had been an internal recommendation that they try to resolve it but yet they said, that the, the piece costs, new items, the new pieces, and their, the costs to, dont make it Cost Effective to resolve this. That the tooling costs and piece price were too high. Those are the exact words. That is profits over safety. Gerri profits over safety. And as weve heard, some people saying that they think the cars are still safe. Lots of debate. Lots of room for argue mentation. I dont agree theyre safe at all. I think theyre a time bomb be. If you go over a pothole in the road and all of sudden lose power on vehicle that, that could be a disaster. Gerri engineers thought people would coast to safety, that is clearly not true. Alan, good to talk to you. Thank you. Gerri as mary barra heads to the hill well have complete coverage much her testimony and hear from one of the members of the subcommittee, congressman lee terry of nebraska. Well have details of the hearing. We want to bring you latest developments in another auto story. The government is once again telling automakers what to do. Nhtsa issued a safety rule requiring rear cameras in vehicles under 10,000pound, manufactured on or after may 31st, 2018. They must expand vision of drivers to include a 10 by 20foot zone behind a bus or truck. Because backup accidents cause an average of more than 200 death as year. Mostly involving kids, and the elderly. I like those cameras. Theyre pretty good. This is a critically important story. New accusation that is individual investors are being ripped off by High Frequency traders gaming the system. That is according to michael lewis, author of a new book on the top i can called, flash boys, a wall street resole listen to this. The stock market is rigged. The United States stock market, the most iconic market in global capitalism is rigged. By whom . By a combination of the stock exchanges, the big wall street banks and High Frequencytraders. Who are the victims . Everybody who has an investment in the stock market. Gerri here to weigh in Teddy Weisberg, founder of seaport securities. Teddy, great to have you here. Thanks for coming in. You know the markets very, very well. Is it an uneven Playing Field for individual investors . Is the market riged . Well i dont know if rigged is the right word but yes there is an uneven Playing Field. Gerri, the problem in my opinion is not High Frequency trading. The problem is, how the government, the sec and congress, changed the landscape for how stocks trade. So this group of traders called High Frequency traders have simply filled a vacuum. Financial times publish adler that i wrote to them in september of 2010 on this very topic. Im not the only person who has spoken to the problems created by reg mns. The government simply taken kind of a deaf ear to making any changes. Make the point that the government opened the door to this kind of trading because they changed rules how people could trade in case of short sales in particular . Right. Gerri suddenly these guys could charge through the door, they also changed the rules about the size of the trade, right . Exactly. Gerri has that made a big difference . Got to tell you those rules were changed in 2007. Here re are today. Half the trading on exchanges is now High Frequency traders. Had youhow does that make you feel . How does that affect your business as someone there on the Trading Floor every single day . A lot of things impacted our business. Electronic trading clearly being one. There is no question that speed kills. It not only kills those of us on the Trading Floor, therefore our argument is somewhat selfserving but it also severely damages the investing public. It tend to undermine the integrity of our Securities Markets which have been historically the most transparent and best markets in the world. Its a twotiered system. If youre not fast enough you will be left at the starting gate. Gerri when Teddy Weisberg says it is an unfair trading system you know that is true because youve been around a long time. Here is my concern. Here is what i dont understand. Anybody else who would front run somebody somebody elses trade would be in trouble. The regulators would be after them. Isnt the same thing . At end of the day is what superfast computer traders they get around everybody else, see their trades, act on them before you can . Why isnt that illegal . That is a great question. I wish we could both get the answer but the fact is the government has simply turned a deaf ear to this argument. You know you would think that the responsibility first and foremost is the integrity of our markets and transparency and protecting the investing public. I think 50 of american households either directly or indirectly own securities. And they are all in one fashion or another being negatively impacted by this phenomenon. It has been going on, as you said, for almost eight years now . I dont know why they dont change it but for whatever reason they refuse to deal with it. Gerri someone asked me, gerri, cents on the dollar. I said i want every penny due me. I dont want to share with somebody else. Heres what these traders say. , to protect their business and an argument what they do. They say, gerri, we provide so much liquidity to the market. Would us there wouldnt be enough traders. You say . I say hogwash. There will always be liquidity. The fact is it is not fair to have a twotiered system with somebody with a lot of money and Fast Computers has advantage over you, i or many of your viewers. This is not the business i grew up. Historically if that was the case they would throw you in jail and throw the key away. Gerri throw the key away, Teddy Weisberg. Great to have you on the show. Thanks for coming in. Thank you, gerri. Gerri do you agree with teddy . Is the stock market rigged . Log on to gerriwillis. Com. Vote on the righthand side of the screen. I will share the results at the end of tonights show. We have more and more to come. A look at the real threat to a recovering Housing Market. Guess what . It is congress. Do you love your Grocery Store or wish you could shop somewhere else . Consumer reports is here with a look at the best supermarkets out there. Stay with us. So ally bank has a raise your rate cd that wothats correct. A rate. Cause im really nervous about getting trapped. Whys that . Uh, mark . Go get help i have my reasons. Look, you dont have to feel trapped with our raise your rate cd. If our rate on this cd goes up, yours can too. Oh thasounds nice. Dont feel trapped with the ally raise your rate cd. Ally bank. Your money needs an ally. But i didnt always watch out for myself. With so much noise about health care, i tuned it all out. With unitedhealthcare, i get information that matters. My individual health profile, not random statistics. They even reward me for addressing my health risks. So im doing fine. But shes still gonna give me a heart attack. Innovations that work for you. Thats health in numbers. Unitedhealthcare. agent i understand. dad weve never sold a house before. agent ill walk you guys through every step. dad so if we sell, do you think we can swing it . agent i have the numbers right here and based on the comps that ive found, the timing is perfect. Theres a lot of buyers for a house like yours. dad thats good to know. mom im so excited. Gerri when it comes to shopping for groceries, it isnt what you buy but where you buy. Consumer reports ranks the supermarkets across the country. Todd, we like to grocery shop. Were told weirdoes. I know. What are the most come paints . Perennial complaints around and around. Not enough open checkouts. Out of stock on basic items. Congested aisles. Spotty price labeling. Scanner overcharges. Those are the one that is you hear time and again and it is not getting any better. Gerri you know it is interesting, you guys talked to 30,000 people, real people. More or less. Gerri people that go to these Grocery Stores and when you say here is the survey and top performers i tend to believe you. Number one, wegmans. Wegmans has been powerhouse for years. We have done the survey for two decades. The past decade it has been steady. Wegmans is top of the line performer. Gerri what is so good about that. Great perishables and phenomenal service. Produce particularly make the difference between a good store, so so store and great store. Exemplary service. Gerri what would a wegmans have that somebody else might not . Give me one thing. What you will get, talking about a signature item like prepared foods, you will get stuff meticulously prepared. Where the staff can tell you what it is, how it is made. What are the ingredients and they will serve it to you with a smile. Gerri that is pretty bad. Trader joes is number two. That is popular one. Trader joes, very, very popular. High scores around. It is kind after quirksy store. People love it or people hate it. It has great perception but limited assortment. They have a lot of their own brand and quirky items. Gerri i go in there. Publix, which i never go into. Publix is down south. Theyre an icahn down there, florida and carolinas. People love publix. Theyre one of the First Companies that actually escorted people to their car, take their bags. Gerri i love that. They really know how to give you southern hospitality. Gerri i love it. Costco. Costco does well in many every type of survey, whether appliances, electronics, eyeglasses, you name it. Costco, that is interesting. They defy logic. Logic is Service Helps make a store but costco doesnt have service. Theyre a warehouse club. Youre shopping at a bear bones warehouse. Their prices are so low that trumps all. They have very good perishables and quality produce. That makes them a winner. If you dont have a lot of money to spend it is the best place to go. People spend, what, 6,000 a year to Grocery Stores. 88 trips on average a typical american and spend around 6,000. We have a lot invested in our supermarkets. Gerri i was surprised walmart scored as low as it did. I was shocked. Favorite store for so many people. 27,000 people responded to our survey. 28 of them shopped at walmart. That is amazing. It is americas largest grocer. Theyre doing something obviously right. Their prices are better than average but they got dinged in terms of quality of perishables. Their service and their cleanliness some that was a bad mark fence them. Gerri you know, quickly, i know a lot of these stores are trying to compete with restaurants now. Oh, yes. Huge. Gerri what do you make of that . I think its a very interesting trend. Because people are trading down, in terms of restaurants, casual restaurants, casual places like applebees theyre having hard time. Fast casual, fastfood is doing okay. Supermarkets are trying to replicate a restaurant experience by upping their game. Wegmans is one of the chains doing it. You can find restaurants in a lot of these stores. They have cia trained chefs, Culinary Institute of america. This is new age. Gerri love it. Buy everything at the Grocery Store. Thanks for coming in. My pleasure as always. Gerri appreciate your time. Before you head to the supermarket the next time you may want to leave your credit cards behind. Were inviting to you take part in our cash challenge after the recent stories of credit card fraud and Identity Theft wouldnt you like to dish your credit cards . Go back to paying everything with your cash. A great way to stick to a budget. Im looking for folks who want to go credit cardfree. Go to gerri gerriwillis. Com fore details. Send me an email. Tweet me at gerri willis fbn. I want you on the show and follow your experiences. Tell us what youre doing. Well start this tomorrow with a couple from colorado who will share their story with us. Tune in tomorrow for our first cash challenge. A very, very exciting. And later in the show, it is deadline day for obamacare, with the milestone that comes, a lot of problems. Well explain. And next we answer the question, how do you do that . We are talking about ways to navigate the Housing Market, especially with Congress Standing in the way. [ male announcer ] when fixed income experts. Work with equity experts. Who work with regional experts. Thats when expertise happens. Mfs. Because there is no expertise without collaboration. Your chance to watch full seasons of tvs hottest shows for free with xfinity on demand. Theres romance, face slaps, whatever that is, pirates, helicopters, piratecopters. Argh hmm. Its so huge, its being broadcast on mars.