Business
GM CEO Barra on Buyback, Dividend and EV Strategy
General Motors CEO Mary Barra discusses the company’s dividend, buyback and EV production plans with Jonathan Ferro on “Bloomberg The Open.” GM said it will boost its dividend by 33% and repurchase $10 billion of shares, its biggest-ever buyback plan.
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Hungary’s parliamentary vote to amend the constitution crowns a frenetic period of legislative activity since Prime Minister Peter Magyar pledged to reincarnate democracy in the country. The result removed the president, set a limit of three parliamentary terms for legislators and sent allies of former PM Viktor Orban in top courts into retirement. Bloomberg’s Zoltan Simon reports.
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Nasdaq President Nelson Griggs says the record-breaking SK Hynix ADR listing is already attracting looks from more foreign companies that may consider US listings. He says JPMorgan Chase struck the right balance on the SK Hynix pricing. Griggs speaks to Bloomberg’s Ed Ludlow in New York at the Nasdaq.
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Business
Trump making “major mistake” with Nvidia chips to China, says Burns #shorts #china #nvidia #ai
Former US Ambassador to China Nicholas Burns tells David Gura President Trump is “making a major mistake” by allowing Nvidia to sell its products to one of the US’s biggest rivals, China https://bloom.bg/3SQPXSd
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Rep. Michael McCaul says Ukraine is gaining momentum on the battlefield but urgently needs more Patriot interceptors and stronger air defenses to counter Russia’s escalating missile attacks. He urges deeper US-Ukraine defense cooperation, including licensed Patriot production and joint drone development, while arguing sustained military pressure offers the best path to negotiations with Russia.
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Bloomberg Television brings you the latest news and analysis leading up to the final minutes and seconds before and after the closing bell on Wall Street. Today’s guests are Nuveen Head of Fixed Income Strategy Tony Rodriguez, State Street Global Head of Gold Strategy Aakash Doshi, Coresight Research Founder & CEO Deborah Weinswig, Principal Venture Partners Founder & Managing Partner Songyee Yoon, Alphasimplex Chief Research Strategist Katy Kaminski, Principal Asset Management Chief Investment Officer & Global Head of Equities George Maris, Morgan Stanley Equity Research Managing Director Alex Straton, MNTN CEO Mark Douglas, & Former HUD Sectretary Henry Cisneros.
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00:03:26 Nuveen on Bonds, Inflation & AI Debt Issuance
00:10:14 State Street on Gold, Geopolitics & the Fed
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00:17:40 Levi’s Earnings Preview: Beyond Denim Growth Strategy
00:23:22 AI Infrastructure: Are Hyperscalers Overspending?
00:30:53 Stock of the Hour: Alibaba’s AI & Cloud Comeback
00:36:39 AlphaSimplex on Volatility, Oil & Inflation Risks
00:43:13 Closing Bell
00:46:35 Energy Stocks Rally While Airlines & Travel Sink
00:54:21 Post-Close: Tech Volatility and AI Leadership
00:56:30 Principal Asset Management on Navigating Market Volatility
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@aaronwhite3119
December 17, 2023 at 3:40 am
Thank God I don't have Mary Barra's job.
@jessicatennis5318
December 17, 2023 at 3:40 am
So make up for these costs, GM will be raising the cost of their products even more which they can not sell presently because they have become too unaffordable to average Americans causing GM to sell even less. Can you say, "Government bailout" for GM again, after of course top management is well taken care of!!!
@jtkrpm1
December 17, 2023 at 3:40 am
Ban EV'S
@darrenneedham3383
December 17, 2023 at 3:40 am
Job security? Where was my job security in April when I received an early Saturday morning call along with 500 other of my coworkers just days after a townhall meeting saying no layoff are coming?
@emb647
December 17, 2023 at 3:40 am
Un fucking believable. They didn't have a penny to share with all of their employees…but now they magically have 10 billion to manipulate the market with? And are increasing their dividend?!? Corporate America is broken. Full stop.
@RayNLA
December 17, 2023 at 3:40 am
Translation…We are in trouble as a company, and need to assure that our top management, (myself included) and top shareholders are protected.
@deekay2
December 17, 2023 at 3:40 am
When's the next taxpayer bailouts?
@thestocks4life995
December 17, 2023 at 3:40 am
Absolutely ridiculous!!!! 🤮
@desmo8755
December 17, 2023 at 3:40 am
If you've watched Barra's career since she was a product manager at GM, you know she was never the right person for the top job. Some CEOs are appointed and praised during a market recovery, when a flock of parakeets in the c-suite could do no wrong. And the influence of these CEOs is a lagging indicator, often not well known until tougher challenges inevitably come. They can steer a company into an inevitable ditch, but by then are sitting on a boatload of cash and ready to retire to a tropical island. This is why CEO pay gets a deserved bad reputation.
@Shiftheads
December 17, 2023 at 3:40 am
She has one job and that is to make the stock price higher while she is ceo. It's how she is paid so it's her only concern. She will leave gm rich and they will have made no progress in manufacturing electric vehicles like she promised.
@leoncopeland2859
December 17, 2023 at 3:40 am
Absolutely done with GM.
@robertparker9157
December 17, 2023 at 3:40 am
That is a law that allows a company to buy back as own stock shares a republican president Calvin Coolidge said the problem with capitalism is that CAPITALIST is TOO DAM GREEDY greedy!
@robertparker9157
December 17, 2023 at 3:40 am
I’m speaking to common sense and wise, auto the workers and UAW what type of law without a company device is on stop shares stupidity on top of stupidity, corrup in moral. it is like a person who makes clothing and sells clothing and then buys 20 to 30% of his own clothing ??? the UAW President Mr. Fain did not squeeze every dollar out of these companies , You did great job,EXCEPT FOR RETIRED WORKERS AND SOON TO BE!!! A 42 dollars a month raise REALLY REALLY really! The same amount of money since 2008, 20% of purchasing power eradicated vanish gone, by the way how much the trucks SUVs COST in 2008 Mary Mary Mary ?????
@gaymoderate4403
December 17, 2023 at 3:40 am
Picture it: it's 2035. Rivian & Tesla rule the roads while GM is asking for its next government bailout.
@gaymoderate4403
December 17, 2023 at 3:40 am
Mess lol
@markmedley6849
December 17, 2023 at 3:40 am
This isn't going to end well.
@flattire707
December 17, 2023 at 3:40 am
Cruise will save them? How is that? They have put billions into Cruise and is a failure.
@flattire707
December 17, 2023 at 3:40 am
EVs will eat their ICE sales. Doom ahead.
@bagelvision
December 17, 2023 at 3:40 am
Shareholders never built anything.
@travgiants24
December 17, 2023 at 3:40 am
Thanks Ronald Reagan for making stock buybacks legal, all us workers love when stock prices are manipulated.
@truenorthtreasureseekers5858
December 17, 2023 at 3:40 am
My prediction, Mary Barra will sell her stake in GM shortly. Classic pump and dump scenario.
@user-lb4yy7vi2t
December 17, 2023 at 3:40 am
Mary has that forced smile. Time for share holders to jump ship.
@markdc1145
December 17, 2023 at 3:40 am
The stressed look on her face says it all.
@davidbudd2624
December 17, 2023 at 3:40 am
For a company as deeply in debt as GM, the idea of a stock buyback (which reduces precious common equity) by a company which many believe will be filing for bankruptcy within a decade is not only incomprehensible but insane. If GM then begs for a bailout (funded by taxpayers) we will have witnessed a failure accelerated by preferential treatment for shareholders at the expense of taxpayers. Does anyone else smell that distinct smell of mackerel? This is an example of abusive behavior by management, the board of directors and the federal government. Don’t do it Mary!!
@Studmuffin_
December 17, 2023 at 3:40 am
The worst thing to ever happen to General Motors is Mary Barra.
@gjsprophet5422
December 17, 2023 at 3:40 am
Earlier this year, GM received $2.5 billion to aid in the Ultium battery development. And now there is money for stock buybacks? The purpose of the stock buyback is to prop up the price of GM stock which is one of the metrics used in determining Barra's bonus compensation. Enough said.
@tonysales3687
December 17, 2023 at 3:40 am
Translation – we on the board feel it is important that the share price reflects our leading place in the auto industry
and to be best placed for the boards upcoming major decisions to lock in the wealth of talent and diversity that will see our gains reflected in society by our patronage of things we feel important going forward and to maximise those gains into material real world assets that assure security and a standard of living for all. ..( Cough )
@brandonlc1982
December 17, 2023 at 3:40 am
Just in case you need more or a reason NOT to buy a GM vehicle
@HelloWorld-hb7yt
December 17, 2023 at 3:40 am
hopefully GM Workers going to work a little harder since they are getting big pay jump.
@scottdieterman9969
December 17, 2023 at 3:40 am
during the strike they said we can't afford labor we must retain liquid assets for future EV……strike cost 1 billion….stock buy back 10 billion…..big corps milking the government and dirty play in the market is why everyone hates big business!!!
@bps7209
December 17, 2023 at 3:40 am
So tell again why are hard working tax payers dollars funding these companies and the people who can afford their outrageous prices! 😡