General Motors Co. expanded its global recall of cars with defective ignition switches to 2.6 million on Friday 28 March 2014], adding 971,000 later-model vehicles due to concerns over faulty replacement parts. In February, GM had announced the recall of about 1.4 million Chevrolet Cobalts and HHRs, Pontiac G5s, Soltices, and Pursuits, Saturn Ions and Skys.
The faulty ignition switch has been linked to 13 deaths in 31 crashes.
Curiosities:
__GM has known about the defective switches since 2004 and has done nothing to correct the problem until the February 2014 recall.
__The National Highway Traffic Safety Administration knew about the problem and raised it with GM no later than 2007.
__GM was internally investigating the ignition-switch problem in the midst of the company’s 2009 bankruptcy filing and government bailout, which gave the Treasury Dept. a 61% ownership stake in GM.
__When GM was bailed out by the US Government in 2009, an "immunity pact" brokered during the bailout, gave GM a clean slate, absolving it of liabilities before June 1, 2009.
*GM knew about the defective switches and deaths.
*The NHTSA knew about the defective switches and deaths.
*Senator Richard Blumenthal, D-Connecticut and several State Attorneys General asked the Federal Government to not grant this immunity.
__There appears to have been a lull in GM’s internal inquiry from 2009 to 2011, but the probe intensified from 2012 to early 2014, leading to GM’s decision to mount a recall in February.
__The Treasury Department sold its GM shares at a $10,000,000,000 loss; it unloaded its last shares on 9 December 2013 - 2 months before the recall.
__Now, in spite of the immunity pact, lawsuits are piling up against General Motors.
__Now Senator Blumenthal says: "Unfortunately, the federal government wanted a quick, easy deal, but it was also misled and deceived by GM." Blumenthal, a former attorney general in Connecticut, says GM should renounce part of its bankruptcy agreement and set aside a special fund for victims.
__GM contends the now-recalled cars are safe to drive as long as a key and ring only are the only items on a key chain. DonDiego trusts this explanation comforts the victims' families.
DonDiego has two questions:
i. What did the Government know and when did the Government know it?
ii. How much is this gonna cost the taxpayers?
*news*news*news*
__The Chevrolet Cobalt, subject to the recall, was replaced by the Chevrolet Cruz in 2008. On 28 March 2014 General Motors sent dealers a notice to stop delivering 2013 and 2014 Chevrolet Cruze compacts with 1.4-liter engines - models that account for about 60% of Cruze sales - but GM wouldn't say why it issued the order.
The faulty ignition switch has been linked to 13 deaths in 31 crashes.
Curiosities:
__GM has known about the defective switches since 2004 and has done nothing to correct the problem until the February 2014 recall.
__The National Highway Traffic Safety Administration knew about the problem and raised it with GM no later than 2007.
__GM was internally investigating the ignition-switch problem in the midst of the company’s 2009 bankruptcy filing and government bailout, which gave the Treasury Dept. a 61% ownership stake in GM.
__When GM was bailed out by the US Government in 2009, an "immunity pact" brokered during the bailout, gave GM a clean slate, absolving it of liabilities before June 1, 2009.
*GM knew about the defective switches and deaths.
*The NHTSA knew about the defective switches and deaths.
*Senator Richard Blumenthal, D-Connecticut and several State Attorneys General asked the Federal Government to not grant this immunity.
__There appears to have been a lull in GM’s internal inquiry from 2009 to 2011, but the probe intensified from 2012 to early 2014, leading to GM’s decision to mount a recall in February.
__The Treasury Department sold its GM shares at a $10,000,000,000 loss; it unloaded its last shares on 9 December 2013 - 2 months before the recall.
__Now, in spite of the immunity pact, lawsuits are piling up against General Motors.
__Now Senator Blumenthal says: "Unfortunately, the federal government wanted a quick, easy deal, but it was also misled and deceived by GM." Blumenthal, a former attorney general in Connecticut, says GM should renounce part of its bankruptcy agreement and set aside a special fund for victims.
__GM contends the now-recalled cars are safe to drive as long as a key and ring only are the only items on a key chain. DonDiego trusts this explanation comforts the victims' families.
DonDiego has two questions:
i. What did the Government know and when did the Government know it?
ii. How much is this gonna cost the taxpayers?
*news*news*news*
__The Chevrolet Cobalt, subject to the recall, was replaced by the Chevrolet Cruz in 2008. On 28 March 2014 General Motors sent dealers a notice to stop delivering 2013 and 2014 Chevrolet Cruze compacts with 1.4-liter engines - models that account for about 60% of Cruze sales - but GM wouldn't say why it issued the order.
