issues that has clearly already surfaced is whooo what kind of legal liability they will have to victims of families, even though this is the those liabilities could have been wiped out in a legal sense by bankruptcy. you know, the company may have to play are morally obligated to pay some restitution. but the other issue is this general motors just got the government out of its ownership structure a few months ago, went public. you ve got to almost wonder whether it might be shareholder lawsuits that say, hey, i invested in this company, i bought shares in the ipo of the new and reborn general motors, but this was not disclosed in any of the disclosure documents that led up to the ipo, potential liability. i don t know if that will happen or how valid such a claim will be, but this is clearly a field day for lawyers. paul, always appreciate your insight. thanks.
outfront tonight. backed into a corner. [ cat meows ] it s an awful noise, whenever you hear it. republicans are the cats today. that s the sign of the republicans hissing like an angry cat cornered by the neighborhood dog. why? the president s order. allowing eviden ining immigrant age of 30 to stay in this country with two year work visas. those workers can be renewed unlimited times. this is a temporary stop-gap measure that lets s us focus ou resources wisely while giving a degree of relief and hope to talented, driven patriotic young people. it is the it is the right thing to do. but does it add up? yes. resoundingly so. that is when it comes to politics. the order effects 1.4 million immigrants. or about 12% of the illegal immigrants in this country. that s according to the pew center. but there is one person it affects more than anyone else. and that person is the president of the united states. the national association of latino officials estimates that 12 mil
hewlett-packard shot up on better than expected quarterly profits and sales. earlier, hp dipped on news it was slashing 27,000 jobs to cut operating costs. earlier, investors punished dell sending shares down 17% after weak earnings. facebook actually rose 3%, despite news of those shareholder lawsuits we told you about earlier. the stock has tumbled 30% since friday s debut. ux tilts and health care stocks led the day s declines. walmart bucked the downward trend to close at a new 12-year high. and petsmart surged 13% on strong earnings. oil tumbled below $90 for the first time in nearly seven months as u.s. supplies continue to grow. yesterday los angeles became the largest u.s. city to ban plastic bags at supermarket checkout lines. passengers without children who are not elite members of united airlines will no longer
sec and finra saying it will review the execution. nasdaq and morgan stanley in damage control mode trying to deal with the failed trades and the dwindling stock price. two congressional panels also jumping in and then several shareholder lawsuits filed near new york as well as in california. and everyone under the sun is being sued around this thing, again, around the issue of selective information getting out to others. bankers and underwriters including morgan stanley, goldman sachs, barclays, facebook and facebook employees and board members including the ceo, mark zuckerberg, mark ann drinkson, reid hastings who sits on the board and legendary d.c. investor peter teal. all of this questionable to whether or not these lawsuits will amount to anything, gregg, but everyone sort of talking about the overall dampening interest in institutional and retail investors interest in participating in the markets,
exactly. news corp has already been facing an escalating justice department investigation into alleged bribes in russia, in china, and in the united kingdom. the payments to those british police officers by news of the world reporters. so while this report doesn t have any direct bearing on those investigations, it does provide some powerful new ammunition for shareholder lawsuits against news corp and big institutional investors who have been pressing the company to make major changes in its management structure, and loosen the murdoch family grip on the company. ro rupert was one of the highest paid in the united states last year, including getting a $12.5 million bonus. he is chairman and ceo of the company.