To compensate victims of its deadly ignition switch problems, General Motors will pay at least $1 million for each death, plus $300,000 to surviving family members. Kenneth Feinberg, who has previously run high-profile funds for victims, will administer the GM program. He joins Jeffrey Brown to discuss the settlement. Continue reading
In a show of solidarity for a city struggling through bankruptcy, Detroit’s three automakers announced Monday a pledge of $26 million to go toward a deal that would help save the integrity of the city’s renowned art museum and alleviate pension reductions for thousands of city workers.
May 16, 12:50 p.m. EDT | Updated General Motors will pay a $35 million civil penalty for its failure to report a ignition switch defect in 2.6 million Chevrolet Cobalts and other small cars, the Department of Transportation announced Friday. … Continue reading
At a hearing Tuesday, members of a House subcommittee demanded answers from new GM CEO Mary Barra about why the automaker used the switch in small cars such as the Chevrolet Cobalt and Saturn Ion even though it knew the part didn’t meet GM’s own specifications. Continue reading
General Motors’ new CEO and the head of the nation’s auto safety watchdog are headed to Congress to testify about a defect in small cars that is linked to 13 deaths. In written testimony released ahead of a Tuesday House subcommittee hearing, acting National Highway Traffic Safety Administration chief David Friedman says GM had information connecting defective ignition switches to the non-deployment of air bags, but didn’t share it until last month. Continue reading
Photo by Bill Pugliano/Getty Images General Motors Co. announced Tuesday that Mary Barra, the company’s global product development chief, will serve as their new CEO.
Auto industry sales jumped 6 percent in March with almost 1.4 million new cars and trucks sold — the highest number since 2008, according to new reports released Tuesday amid Detroit’s $200 million deficit. Gwen Ifill and David Shepardson of The Detroit News discuss what’s behind the continued surge in sales. Continue reading
In other news Wednesday, the drug maker Pfizer recalled 1 million packets of birth control pills. Some of the packages contained too many active tablets while others had too few, raising the risk of unintended pregnancy, the company said. Also, at least 73 people were killed in Egypt when a soccer match erupted into a riot. Continue reading
In other news Wednesday, factory workers at General Motors overwhelmingly ratified a new four-year contract. It doesn’t include any pay raises, but 48,000 hourly employees will get a $5,000 signing bonus plus profit-sharing checks. Also, gunmen in southern Afghanistan attacked and killed eight police at a checkpoint. Continue reading
The United Auto Workers union and Detroit’s Big Three automakers have opened labor negotiations for the first time since escaping a near-death experience during the recession. Jeffrey Brown discusses the negotiations and new signs of life in the auto industry with The Detroit News’ David Shepardson. Continue reading