LIZ: TECH EXECS MET AT THE WHITE
HOUSE WITH IVANKA TRUMP, JARED
KUSHNER, LARRY KUDLOW AND OTHERS
TO TALK ABOUT SECURING U.S.
DOMINANCE IN TECH.
GM'S CEO MARY BARRA MET AGAIN
WITH LAWMAKERS TODAY.
HER TO UPSET WITH GM'S TAX
BREAKS IN LIGHT OF THEIR PLANT
CLOSURES.
LET'S BRING IN WARREN DAVIDSON.
GOOD TO SEE YOU, SIR.
PEOPLE ARE UPSET GM KEEPS COMING
WITH TIN CUP IN HAND AND GETTING
FEDERAL BAILOUT AND STATE
BAILOUTS.
OHIO GAVE GM A TON OF TAX
BREAKS, NOW THE FACTORIES ARE
CLOSING.
>> IT'S DISAPPOINTING.
PRIOR TO THAT FOR 15 YEARS I WAS
IN MANUFACTURING.
WHEN I TALK ABOUT THE
INTERSECTION OF BIG TECH AND
AUTOMOTIVE, THEY ARE MORE
CLOSELY CONNECTED THAN YOU WOULD
IMAGINE.
WHEN MARY BARRA CAME AND TALKED
TO THE DELEGATION, ONE OF THE
POINT I WANTED TO MAKE IS THE
GOOD NEWS IS, UNLIKE '08-'09,
THE ECONOMY IS STRONG.
I AROUNDED TO DRIVE OUR ECONOMIC
DEVELOPMENT FOLKS UP TO THE
PLANT FOR A JOB FAIR.
LIZ: I HAVE BEEN WATCHING GM FOR
YEARS.
I HAVE BEEN DOING BUSINESS
JOURNALISM FOR THREE DECADE.
I WAS WRITING ABOUT GM FOR A
LONG TIME.
OHIO IN 2008 GAVE STATE INCOME
TAX BREAKS TO GM SAYING YOU
DON'T HAVE TO PAY 75% OF YOUR
INCOME TAXES TO THE STATE OF
OHIO FOR THE NEXT 15 YEARS.
SHOULD ELECTED OFFICIALS SAY
WE'LL GIVE YOU MR. CAR COMPANY A
TAX BREAK WITH THE CAVEAT YOU
HAVE TO SHOW US HOW YOU WILL
BUILD FACTORIES YOU CAN RETOOL
TO MAKE SMALLER OR BIGGER
VEHICLES WHEN GAS PRICES GO UP
OR DOWN.
OTHER CAR COMPANIES DO THAT, WHY
CAN'T GM?
>> THE GOOD NEWS IS HONDA HAS
BEEN DOING THAT.
THE ACCORD WASN'T SELLING AS
WELL AS THEY THOUGHT.
THE CRV IS DOING WELL.
CONTROLSOVERS AND SUVS AND
TRUCKS -- CROSSOVERS AND SUVS
AND TRUCKS ARE SELLING.
SOME OF THE THINGS WHERE THE
GOVERNMENT HAS BEEN INVOLVED.
THE GOVERNMENT SHOULD NOT BE
RUNNING THESE COMPANIES.
LIZ: I DIDN'T MEAN TO INTERRUPT.
BUT WE DON'T WANT THE GOVERNMENT
IN THERE.
BUT GM COMES WITH A TIN CUP
GETTING OUR TAX HELP.
IF I AT CHRYSLER IS OPENING A
NEW FACTORY IN DETROIT.
>> THAT'S GREAT.
WE'LL SEE WHERE THAT GOES FOR
GM.
I THINK THEY HAVE BEEN
OUTPERFORMED BY A NUMBER OF
COMPANIES AND THAT'S WHY THEY
HAVE HAD TO COME HAT IN HAND.
LIZ: IT'S BEEN GOING ON FOR
DECADES.
>> NOT TO MENTION THE SUBSIDIES.
THE GOVERNMENT SHOULDN'T BE
TRYING TO STEER THAT.
THE GOOD NEWS FOR GM IS MAYBE
THEY FINALLY GOT THE MESSAGE.
YOU ARE NOT GOING TO GET ANY
MORE BAILOUTS.
YOU WILL HAVE TO TAKE CARE OF
YOUR BALANCE SHEET AND DO THE
RIGHT THINGS.
I WAS IMPRESSED THAT MARY BARRA
CAME TO US AND WAS SPEAKING TO
US ON THE HILL.
LIZ: WHAT ABOUT PUTTING HER FEET
TO THE FIRE.
I WATCH MARY BARRA.
SHE IS A GREAT CEO.
BUT LISTEN CLOSELY TO WHAT SHE
SAYS.
A LOT OF IT IS P.R. TALK.
IS SHE GOING TO MOVE JOBS TO
OTHER FACTORIES IN THE U.S.?
AND IS SHE GOING TO STOP
OUTSOURCING TO MEXICO?
WE UNDERSTAND THE ECONOMICS OF
IT AND WE UNDERSTAND THE
ECONOMICS OF TAX BREAKS WHEN YOU
ARE NOT BUILDING FACTORIES THAT
ARE FLEXIBLE.
>> THE GOOD NEWS IS A LOT OF
THAT IS HAPPENING IN THE U.S.
WHEN YOU TIE THAT TO WHAT YOU
WERE TALKING ABOUT EARLIER.
THE RISK REDUCTION MODERNIZATION
ACT, OUR COUNTRIES ARE GOING TO
BE MORE SECURE AND STRONG.
IF WE CAN ACCOMPANY THAT WITH A
REFORM TO PRIVACY WHETHER IT'S
THE INTERNET OR YOUR CAR OR APP
YOU DOWNLOAD ON THE PHONE, THAT
WAS ONE OF THE QUESTIONS I PUT
TO MARY.
IT IS AN OPTIMUM PRACTICE FOR GM
IN THE CAR.
I HOPE THEY WILL SEE THE
COMPETITIVE ADVANTAGE OF THE
UNITED STATES, THEY SHOULD
CONTINUE TO INVEST.