By on July 10, 2014

Recalled GM ignition switch

Kenneth Feinberg’s victim compensation plan for those severely affected by the ignition switch linked to 13 fatalities, 54 accidents and a recall of 2.6 million vehicles will not be funded by liability insurance, according to General Motors director of financial communications David Roman.

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By on July 8, 2014

OLYMPUS DIGITAL CAMERA

In today’s General Motors Digest: Replacement ignition switches are shipping to dealership service bays in boxes that may not reflect the contents inside; GM hands over 2 million documents to the United States House of Representatives; and certain truck owners are on their own as far as rusty brake lines are concerned.

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By on July 8, 2014

The Chrysler Toledo Assembly Complex used to produce Jeep Cherokee in Toledo

Thanks to high consumer demand for SUVs and light trucks, a number of Detroit Three plants are either shortening their summer breaks or eliminating them altogether.

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By on July 4, 2014

GM RenCen Downtown Detroit

It may have taken nearly 14 years for one ignition switch issue to finally find attention, but General Motors’ ignition woes go as far back as 1997, when Chevrolet Malibu owners had their own switch problems.

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By on July 3, 2014

General Motors headquarters in Detroit, Michigan

In today’s General Motors digest: GM recalls a recall; the automaker gains market share in spite of itself; its bankruptcy judge believes it may have committed fraud; the U.S. Senate gets ready for a second February 2014 recall hearing; and Anthony Foxx vows to keep the heat turned up on GM.

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By on July 2, 2014

IonIgnitionSwitchRecall-page-001

Megan McArdle, over at Bloomberg View, wonders out loud if the flood of recalls issued by General Motors, covering every car they’ve sold for the past three years and a wide swatch of the vehicles the company has made and sold over the past decade and a half is a deliberate strategy on the part of the company to protect its  image with consumers from further harm. The strategy may be working. The sales reports for June show that the current sales of new GM vehicles seems to be unaffected by all of the publicity and controversy surrounding defective ignition switches that can shut off the car, rendering the airbag systems inoperable in case of a subsequent collision. (Read More…)

By on July 1, 2014

Kenneth Feinberg

Victim compensation expert Kenneth Feinberg, hired by General Motors to develop a program to pay those harmed or killed by the ignition switch at the center of the February 2014 recall and subsequent fallout, unveiled his compensation plan Monday. However, the plan found a few critics over its lack of punitive damage claims, and the fact all payments would be made under Feinberg’s discretion.

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By on June 30, 2014

GM RenCen Storm Clouds

General Motors has issued a total of six recalls affecting some 8.4 million vehicles in North America, the majority of which have ignition-related issues.

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By on June 30, 2014

GM Renaissance Center

In today’s General Motors digest: GM recalls over 700,000 units globally; Siemens VDO Automotive urged the automaker to look into airbag data in 2004; product chief Doug Parks was aware of the ignition problems in 2005; Feinberg compensation plan will have no payment cap; and Delphi is under the gun from both Congress and the IRS.

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By on June 27, 2014

Mary Barra at 2014 Detroit Auto Show

In today’s General Motors digest: The automaker rescinds its stop-sale of 33,000 Chevrolet Cruzes over Takata air bag issues, recalls 29,019; Delphi turns over documents to a federal grand jury; Kenneth Feinberg’s compensation plan will be revealed Monday; and CEO Mary Barra says more recalls may be coming, but no more people will be fired as a result of the Valukas report.

(Read More…)

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