Before the Bell 8/1/2008

[0:00] ..." WBZ financial editor -- Caruso is joining us good morning David good morning Gerber well have been waiting all week for these the jobs numbers are out"...

[0:10] ..." we get into every single day it's been triple digit grown ups and downs so. The number it was bad. Excuse I guess it's as bad as the market was expecting you"...

[1:49] ..." Solana that the latest restructuring expenses that they've put together. And no Wall Street you know did fix that much in this CEO Rick Wagoner was such -- that it. You know they don't have enough cash to get them through this in terms of not using Gupta burn -- through 2009. -- where are saying things about. A there's a lot of -- on the bottom is certainly was typical turnaround and that so this is the third worst loss in history. Four General Motors. So BMW they cut their outlook for the year. He's done reporter Drew some looks like Japan Germany also of the problems"...

[0:00]" WBZ financial editor -- Caruso is joining us good morning David good morning Gerber well have been waiting all week for these the jobs numbers are out the latest ones and what they --"

[0:10]" we get into every single day it's been triple digit grown ups and downs so. The number it was bad. Excuse I guess it's as bad as the market was expecting you know -- that it matters -- about the weekly numbers that they thought it was going to be a disaster. Well it not only that but that the GDP numbers and talked about an official recession through by just numbers. The sporting an excuse me that the in the percent to 1000 terms of job losses they expected more than. And a thousand in the unemployment rate took went up about two per two tenths of a percent from five point 5% to five point 7% so. But since march of all four it's the seven. Monthly draw parole. If you could job inflation it's embedded in the post the elderly rages wages are -- pretense of percent and that Tibet's all -- all. But the number but it's not or part without an effective ethics of people expect again. I think again we're seeing the market move a little bit away from the oil in the financials which interesting enough work. We're down. -- rarely move in -- it is possible to the economy and jobs are pretty good manufacturing coming up in the index about -- so -- that looks like so. Which relic a little bit after the judgment but it wasn't as bad as expected. Although they -- at the start because some Wendy's together GM the -- features of four point seven. As a -- before -- appropriate tough world 66 cents and it's like gold was dominate parts."

[1:32]" So we settled -- at that time pro US automakers in this particular GM missed by your particular that the spot right now and a decent team be -- Fifteen point five billion dollars of the most offset. Exxon gained ethnic. Terms of what they've they've for probability Solana that the latest restructuring expenses that they've put together. And no Wall Street you know did fix that much in this CEO Rick Wagoner was such -- that it. You know they don't have enough cash to get them through this in terms of not using Gupta burn -- through 2009. -- where are saying things about. A there's a lot of -- on the bottom is certainly was typical turnaround and that so this is the third worst loss in history. Four General Motors. So BMW they cut their outlook for the year. He's done reporter Drew some looks like Japan Germany also of the problems of the autos and pretty -- a little bit -- also pleased to Beijing -- Canada and they are expecting the worst since 1992 so. Right now under the look like we're in the mood by cars."