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GM CEO Dan Akerson weighs in on the health-care law, European debt crisis and the November elections.
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Got the you know the government did not so we thought -- -- -- it nothing.
Is settled -- businesses big and small reacting to that decision what will it mean for future hiring and expansion plans Jeff Flock joins us now that exclusive interview.
With the chairman and CEO of General Motors -- A special day on the Fox Business Network is I've got Dan Akerson with me to react first of all of this and then get to cars.
Today the world only cares damn about.
Health care Mitt Romney just said live on the Fox Business Network this is a job killer.
Do you agree.
I really don't know.
I think one good thing comes out of it we have clarity.
So we can make our business plans going forward from here.
But net net for us we insure employees and we insure roughly 200000.
Around the globe and so I'm interested obviously -- I like the clarity are worried about the impact on the economy in general.
Well you know I I my job this cars your son not a health care expert I'll leave it to the experts that now analyse that don't have money they can't buy cars.
That's true job can't buy cars.
No question.
Kraft speak at a cars car.
You made billions last year and your stock lost 33% of its value how you can't.
Well I think there's a lot of uncertainty around the globe particularly in Europe.
There's insert here in the United States the fiscal cliff does is talk about that really -- It worries me a lot I would also say that some of our competitors have had the same sort of stock performance -- for example -- the same.
Please do ten.
And about the same period of time yes so what it says is that.
Business like clarity they like.
A reasonably predictable future and there's just.
What goes on in Europe where we like united affects -- affects China we have big operation in China.
So we have a global perspective -- clarity on Europe.
Do you -- popularly -- and feel free to say it was different decided I wanna keep this European operation wanna keep Opel when you had a chance maybe to divest yourself of it.
Was that a -- call I had I had a feeling you'll be vindicated in the long term but in the short term was -- a good call.
Well the board looked at the deal that was put before it as we.
Immediately accident from bankruptcy and concluded that deal wasn't dollar good for example we had we -- do.
Guarantee the debt so if opal were to have stumbled.
In the ensuing years likelihood of -- coming back to us.
Was reasonably high -- -- -- you right.
Well as you say last year we had record profits.
More profit than we've had.
And history of General Motors gone back to the Halcyon days of the fifties and sixties.
We lost about a billion dollars last year and Europe and it looks like it's going to be net.
Order of magnitude this year to weapons how.
-- How is the world going to be affected and do you care who gets elected president November.
And -- have a preference.
Of course I care.
But.
Sanctity of the voter's -- -- reside within me.
I do think it's important the election I think it's important on a much broader scale.
I think the political dialogue in this country we have to find common ground.
We can't just continue to argue one point or another I don't think compromise is a bad word so.
Regardless of who wins it's just not the presidency but it's also the legislature the senate the house.
So again we need clarity here and we need a rational.
Plan forward but to -- and argue which has been kind of the descriptive I would attached over the last couple years.
His we tend to stand still and economies don't move forward -- -- stand still.
-- -- -- -- -- I don't know I I enjoy my job and the board will be the ultimate determinant of that and of course I have private life and we'll be some sort of juxtaposition between into Iraq.
No I'm not a rush OK -- a rush to do better but not.
Dan -- told me when we sat down Dennis I said that the CEO of the world's biggest auto company goes I don't wanna be world's biggest I just wanna be the world's most profitable.
Right after I had good snack -- backlog can just.
Good job thanks a --
