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Apr 8, 2014
04/14
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LINKTV
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next day, without telling father or mother, i made for delphi. phoebus sent me away, disappointed in my immediate inquiries. instead, in his reply, he brought to light other disastrous calamities. i was doomed to be my mother's lover, to produce for men to see a family accursed in their sight and to kill my father, the man who gave me life. i paid attention, i took to my heels. from that moment, corinth was for me a place to be plotted by astronomical calculations. i made for some land where i should never see that doom fulfilled which the dreadful oracles foretold. and as i traveled, i reached those regions where you say the monarch of this land was killed. my dear wife, i will tell you the whole truth. as i walked along not far from that very crossroads, i met a herald and with him a man in a horse-drawn carriage just as you described. the man in front and the old man, too, were for pushing me violently off the road. one of them, the driver, jostled me. i lost my temper. i hit him. the old man saw it, waited his moment, leaned from the carriage
next day, without telling father or mother, i made for delphi. phoebus sent me away, disappointed in my immediate inquiries. instead, in his reply, he brought to light other disastrous calamities. i was doomed to be my mother's lover, to produce for men to see a family accursed in their sight and to kill my father, the man who gave me life. i paid attention, i took to my heels. from that moment, corinth was for me a place to be plotted by astronomical calculations. i made for some land where i...
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Apr 1, 2014
04/14
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CNBC
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yes or no will work. >> we know that now. >> and gm was notified by delphi of this, correct?es or no? >> i'm not aware of being notified. can i also correct, i was -- >> i need a yes or no. i only have five minutes. i'm sorry. so as far back as 2004, ten years ago, gm conducted a problem/resolution tracking inquiry after it learned of an incident where the key moved out of the run condition in a 2005 chevrolet cobalt. is that correct? >> again, you are relating specific incidents that happened -- >> you don't know? you don't know about that? take a look at tab eight, please. by the way, ma'am, i'm getting this information from the chronology that gm provided to nhtsa. >> right. >> so let me ask you, again, as far back as 2004, gm conducted a problem/resolution tracking system inquiry after it learned of an incident where the key moved out of the run condition. is that correct? >> yes. >> thank you. now, after the prts inquiry, one engineer advised against further action because there was quote, no acceptable business case to provide a resolution and the prts was closed. is th
yes or no will work. >> we know that now. >> and gm was notified by delphi of this, correct?es or no? >> i'm not aware of being notified. can i also correct, i was -- >> i need a yes or no. i only have five minutes. i'm sorry. so as far back as 2004, ten years ago, gm conducted a problem/resolution tracking inquiry after it learned of an incident where the key moved out of the run condition in a 2005 chevrolet cobalt. is that correct? >> again, you are relating...
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Apr 3, 2014
04/14
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CSPAN2
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. >> is delphi a vendor or a subsidiary? >> delphi is a supplier, not a subsidiary. >> okay. will this overview include looking at delphi and their participation in this? >> to the state that he goes in that direction and we did information from them come yes. >> it would make some sense to talk to people at delphi to find out in the words and perhaps bring them to this committee to find out what it understanding and to determine their involvement in this particular case. can you tell us whether or not this is a one time occurrence of? >> this is, as i look at it, i see as a very extraordinary situation. there have been many, many cases where we've been quick to acclimate safety recall process. and as i mentioned before, often we are known to do more recalls of smaller population because we want to get to issues as quickly as we can. >> so you have no recall of whether or not similar situation has occurred in the past where a part, to different parts have the same part number? >> i'm not aware of that. that is bad engineering. >> do you think it was an oversight on the part o
. >> is delphi a vendor or a subsidiary? >> delphi is a supplier, not a subsidiary. >> okay. will this overview include looking at delphi and their participation in this? >> to the state that he goes in that direction and we did information from them come yes. >> it would make some sense to talk to people at delphi to find out in the words and perhaps bring them to this committee to find out what it understanding and to determine their involvement in this...
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Apr 4, 2014
04/14
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KQEH
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have now added delphi's name in their lawsuits against the automaker, included a former delphi employee whose daughter was killed in a 2013 chevy cobalt accident. shares of the auto parts giant down about .5% today at 69.73. >>> that drop was nothing compared to the decline in shares of barnes & noble today. they tumbled nearly 14% after one of the bookstore's chains biggest investors ---ing talking about liberty media -- said it sold almost all its stock in the company. >> reporter: a blow for struggling bookstore chain barnes & noble. liberty media's decision to sell its stake is a big turn around from three years ago when the media giant had tried to buy the entire company. settling instead for a 17% ownership cut. today's stock plunge has investors concerned about the company's future. but analysts say there's still plenty to be hopeful about. >> this is definitely a short turn negative for barnes & noble. it's taken away a stable iegz force in a somewhat controversial position. but that said, they still have everything to play for in that you still have microsoft as a large investo
have now added delphi's name in their lawsuits against the automaker, included a former delphi employee whose daughter was killed in a 2013 chevy cobalt accident. shares of the auto parts giant down about .5% today at 69.73. >>> that drop was nothing compared to the decline in shares of barnes & noble today. they tumbled nearly 14% after one of the bookstore's chains biggest investors ---ing talking about liberty media -- said it sold almost all its stock in the company. >>...
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yes or no work. >> we know that now. >> and gm was notified by delphi of this.r no. >> i am not aware of being notified. can i also correct? >> i need a yes or no. i only have five minutes. as far back as 2004, ten years ago, gm conduct a problem resolution tracking system after it learned of an incident with the run condition and in 2005 chevrolet kobold. is this correct? >> again, you are relating specific incidents. >> you don't know? if you don't know about that? take a look at tab 8 please. by the way, i am getting this information from the chronologies that gm provided to ntsa so let me ask you again, as far back as 2004, gm conduct a problem resolution tracking system inquiry after it learned of an incident where they moved out of the condition. thank you. >> yes. >> after the p r t s in one eng further action because there was, quote, note acceptable business case to provide the resolution and the pr t s was closed. >> of that is true that is a disturbing fact. that is not the way we make decisions. >> in 2005 gm received more reports of engine stopping
yes or no work. >> we know that now. >> and gm was notified by delphi of this.r no. >> i am not aware of being notified. can i also correct? >> i need a yes or no. i only have five minutes. as far back as 2004, ten years ago, gm conduct a problem resolution tracking system after it learned of an incident with the run condition and in 2005 chevrolet kobold. is this correct? >> again, you are relating specific incidents. >> you don't know? if you don't know...
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Apr 1, 2014
04/14
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BLOOMBERG
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gm was notified by delphi, correct? >> i'm not aware of being notified. i only have five minutes.'m sorry. as 2004, 10 years ago, gm conducted a problem systemion tracking inquiry after it learned of an incident where the key moved out of the running condition and in a 2005 cobalt. you don't know? you don't know about that? look at tab 8, please. by the way, i'm getting this information from the chronology that gm provided. back as 2004, gm conducted a problem resolution tracking system inquiry after it learned of an incident where the key moved out of the running condition. is that correct? >> yes. >> thank you. after the prt at inquiry, one engineer advised against further action because there was no acceptable business case to provide a resolution and it was closed. is that correct? >> if that is true, that is a very disturbing fact. in 2000 five, gm received more reports of engine stopping when the keys were jerked out of the running condition. -- proposedovided changes to the keys. is that correct? >> that is part of our investigation to get that complete timeline. >> much of
gm was notified by delphi, correct? >> i'm not aware of being notified. i only have five minutes.'m sorry. as 2004, 10 years ago, gm conducted a problem systemion tracking inquiry after it learned of an incident where the key moved out of the running condition and in a 2005 cobalt. you don't know? you don't know about that? look at tab 8, please. by the way, i'm getting this information from the chronology that gm provided. back as 2004, gm conducted a problem resolution tracking system...
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Apr 2, 2014
04/14
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CSPAN
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this one delphi said in the range of 10 to 15 and it really should have been 15 at a minimum. is that correct? >> i have not seen the test results from that. >> you don't know that. okay. now, despite these facts, gm continued to manufacture cars with these same ignition switches for the model years 2008 to 2011. is that correct? >> yes. >> and between 2004 and 2014, no public notices were issued as a result of gm's knowledge of these facts and no recalls were issued for the over 2.5 million vehicles manufactured with these defective ignition switches. is that correct? >> yes. >> and finally, through three recalls were made this year, 2014, two in february and one just last february. is that right? >> related to this ignition switch? >> i have just a couple more questions. the first question i have, ms. barra, gm is intending to replace the switches for those cars beginning april 7th, right? >> we'll begin shipping -- >> will you put a completely new redesigned switch or the switches of 2006 in the cars? >> a switch that meets the -- >> is it going to be a newly redesigned swi
this one delphi said in the range of 10 to 15 and it really should have been 15 at a minimum. is that correct? >> i have not seen the test results from that. >> you don't know that. okay. now, despite these facts, gm continued to manufacture cars with these same ignition switches for the model years 2008 to 2011. is that correct? >> yes. >> and between 2004 and 2014, no public notices were issued as a result of gm's knowledge of these facts and no recalls were issued for...
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Apr 1, 2014
04/14
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CNBC
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i know this is something that the part was actually created by delphi, correct? >> correct. >> and they have an engineering team that was working on that, so they have a shared responsibility and liability in this entire issue. have you met with them and with the engineering team that was responsible for this switch? >> i have not met with the specific engineering team that is responsible, but i am speaking to leadership and those individuals are being interviewed as part of the investigation. >> now, going back, did you say that this was a defective part when you talked about it earlier? >> we have learned when we knew -- when the recall decision was made and we later went back and looked at the chronology, there's points that suggest, and that's why we're doing the investigation. >> okay. all right. now, i think that you're going to hear from more than one of us about not having a new part number assigned. who made that decision? was that strictly a delphi decision or did that come into the gm supply chain for that decision to be made as to how that part number
i know this is something that the part was actually created by delphi, correct? >> correct. >> and they have an engineering team that was working on that, so they have a shared responsibility and liability in this entire issue. have you met with them and with the engineering team that was responsible for this switch? >> i have not met with the specific engineering team that is responsible, but i am speaking to leadership and those individuals are being interviewed as part of...
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i think we need to look at delphi as well. gerri: delphi, nhtsa. where the heck -- >> absolutely.erri: we're calling all over the government agency supposed to be regulating this stuff and frankly got reports all along the way? >> i agree with you. that is absolutely, a couple weeks ago i called it nhtsa-gate and you called it gm-gate. gm screwed up and they have to sort out procedures and problems and quality control. delphi screwed up by supplying a part that didn't meet qf 9000 quality control ratings which have been in place since 1995. however nhtsa didn't catch it. did they give rick wagoner a check for $10 million and say disapfire please? he literally has not been seen by anyone. which says to me there are a lot of people that know a lot more than we're being told. gerri: it's a tragedy on some levels. >> absolutely. gerri: we had victims families on yesterday, just tragic. so many people to point the finger at. quickly, mary barra, how did she fare today? is she holding up gm's legacy and speaking well for the company? >> i think she is considering the situation. she has
i think we need to look at delphi as well. gerri: delphi, nhtsa. where the heck -- >> absolutely.erri: we're calling all over the government agency supposed to be regulating this stuff and frankly got reports all along the way? >> i agree with you. that is absolutely, a couple weeks ago i called it nhtsa-gate and you called it gm-gate. gm screwed up and they have to sort out procedures and problems and quality control. delphi screwed up by supplying a part that didn't meet qf 9000...
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Apr 6, 2014
04/14
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this one delphi said in the range of 10 to 15 and it really should have been 15 at a minimum. is that correct? >> i have not seen the test results from that. >> you don't know that. okay. now, despite these facts, gm continued to manufacture cars with these same ignition switches for the model years 2008 to 2011. is that correct? >> yes. >> and between 2004 and 2014, no public notices were issued as a result of gm's knowledge of these facts and no recalls were issued for the over 2.5 million vehicles manufactured with these defective ignition switches. is that correct? >> yes. >> and finally, through three recalls were made this year, 2014, two in february and one just last february. is that right? >> related to this ignition switch? >> i have just a couple more questions. the first question i have, ms. barra, gm is intending to replace the switches for those cars beginning april 7th, right? >> we'll begin shipping -- >> will you put a completely new redesigned switch or the switches of 2006 in the cars? >> a switch that meets the -- >> is it going to be a newly redesigned swi
this one delphi said in the range of 10 to 15 and it really should have been 15 at a minimum. is that correct? >> i have not seen the test results from that. >> you don't know that. okay. now, despite these facts, gm continued to manufacture cars with these same ignition switches for the model years 2008 to 2011. is that correct? >> yes. >> and between 2004 and 2014, no public notices were issued as a result of gm's knowledge of these facts and no recalls were issued for...
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Apr 1, 2014
04/14
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. >> have you asked delphi if you can have access dealing with this issue? >> i have not and mr. the lucas will go as we continue the investigation and get an accurate accounting of what has happened. >> my time has expired. i yield back. >> we have asked for that e-mail chain. chairmanognized emeritus of the committee, mr. dingell. by telling the families of those who were injured or killed by the defective general motors -- we believe the events here are tragic indeed. express my condolences to the families who were killed or injured in those crashes. now it is incumbent upon congress and regulators and general motors to determine how these deaths could have happened and take steps to ensure the safety of american motorists and their families are moving forward. expect this investigation will be thorough. all of the stick orders to be unabashedly forthright. i would like to build on chairman murphy's line of questioning. will requirestions yes or no answers. some of myot answer questions, i expect you will submit responses for the record and all available supporting materials.
. >> have you asked delphi if you can have access dealing with this issue? >> i have not and mr. the lucas will go as we continue the investigation and get an accurate accounting of what has happened. >> my time has expired. i yield back. >> we have asked for that e-mail chain. chairmanognized emeritus of the committee, mr. dingell. by telling the families of those who were injured or killed by the defective general motors -- we believe the events here are tragic indeed....
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and escape blame, delphi said we warned you about this, they did nothing about this, what is your sensever happened here? >> i think there are two levels, one is gm, what did gm know, when did they know it? and den years get -- 10 years getting into before they had a recall, i talked to them specifically about 2006, 2007, 2008. what was the financial health of gm at the time, they were so unhealthy they were bailed out by the taxpayers but is that why they did not do recall, because they could not live through one at that . neil: or do you think they hid it to get the bailout? anything that you have been able to investigate, or research, hinted that was a possibility that, news like this would have certainly made that bailout impossible? >> yeah, that is a great question, i think that is how much further the conversations need to go, may not have just been government funds but private also, they were trying to restructure get through bankruptcy. there were a lot of problems a lot of issues going into this, i think there is a cover-up going on, i want to find, and everyone on that commit
and escape blame, delphi said we warned you about this, they did nothing about this, what is your sensever happened here? >> i think there are two levels, one is gm, what did gm know, when did they know it? and den years get -- 10 years getting into before they had a recall, i talked to them specifically about 2006, 2007, 2008. what was the financial health of gm at the time, they were so unhealthy they were bailed out by the taxpayers but is that why they did not do recall, because they...
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Apr 1, 2014
04/14
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it will be in the e-mails and also in the former employee' gm and delphi. they can't go after current gm employees without a lawyer present, but at my company we good after former employees. they have things to say. they don't have to have a lawyer with them if they don't work for gm anymore. they can tell you, ask for this in discovery, ask for that in discovery, make sure you ask for this document, you should be seeing this department's records and be asking about this guy who used to work there with me, and i think he now lives in japan, but he saw everything. that is really golden intelligence, and unless i missed my mark, they've probably got people spreading out right now, starting to make those calls. >> if your mom died in one of these crashes that's exactly what you would want. testimony continuing on capitol hill on foxnews.com. >>> here in new york city, police say one person is dead after a head-on crash between a charter bus and a pickup truck, this morning on long island. the driver of the truck died and what a mess its. video shows rescuerses
it will be in the e-mails and also in the former employee' gm and delphi. they can't go after current gm employees without a lawyer present, but at my company we good after former employees. they have things to say. they don't have to have a lawyer with them if they don't work for gm anymore. they can tell you, ask for this in discovery, ask for that in discovery, make sure you ask for this document, you should be seeing this department's records and be asking about this guy who used to work...
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Apr 18, 2014
04/14
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phone lookup is that at the home but sucky but sunny the federal minister claims that ninety percent delphi and leadership has been wiped out the eyes of the delegates gathered in law david f arch between the union fixed on intelligence agency drop the debt is bill roe and doe companies have resulted in search operation against the militants. jones who was eight months by the agencies working together. i've knitted the entire top leadership of the indian mujahideen in india. your patient's bed but the decision analysis wing. i need to be intelligence bureau national investigative agency. daily paintings and rod stein believes have been result of human intelligence and silliness and close coordination with one's own study into agency bread and drinks. since two thousand needs more than one hundred and twenty mb of which it serves up and goes across the country. while it is here that the india today he is the one limited to a particular state or region we sit down to show its triple bill into law. canada will be sucked into these dead. since the us since the rest. but not the type to consult
phone lookup is that at the home but sucky but sunny the federal minister claims that ninety percent delphi and leadership has been wiped out the eyes of the delegates gathered in law david f arch between the union fixed on intelligence agency drop the debt is bill roe and doe companies have resulted in search operation against the militants. jones who was eight months by the agencies working together. i've knitted the entire top leadership of the indian mujahideen in india. your patient's bed...
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Apr 30, 2014
04/14
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KCSM
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delphi. don't know mumbles. all this to me. we knew it. if you would you know he's a boy that she of the. soldier has changed in my new prominence among the key of knowledge being able to he gained control residents of being a team woods was a little bit complicated. more than four hundred thousand people the fiendish days. within the country the one with her to pour it on to taxi to help pay the bills. he was a costume on and on but he also hosted a small basin. he did it solo. for safety. but she has phoned but not on promiscuity. choose the types to people almost dd the trio the winner. jubilee seeing truth which put the chicken cross the creek on the shelves. but she wanted to know the scene. the series kicking off in the democratic process the only constant walton. i'm praying to god you will bring about change towards safety. many iraqis feel that the same way. they hold on to come over the election. well in katich old footage of costumes to find a way to his old the sick kitty and teaching and being defined. and earlier i spoke with
delphi. don't know mumbles. all this to me. we knew it. if you would you know he's a boy that she of the. soldier has changed in my new prominence among the key of knowledge being able to he gained control residents of being a team woods was a little bit complicated. more than four hundred thousand people the fiendish days. within the country the one with her to pour it on to taxi to help pay the bills. he was a costume on and on but he also hosted a small basin. he did it solo. for safety. but...
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Apr 3, 2014
04/14
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to make that is bad engineering. >> was that and oversight for delphi? >> i don't know. i want to understand all the parties involved to not follow the process. >> what is the financial stability
to make that is bad engineering. >> was that and oversight for delphi? >> i don't know. i want to understand all the parties involved to not follow the process. >> what is the financial stability
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Apr 1, 2014
04/14
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problem. 2001, a pre-production report for the saturn ion identified an issue. 2002, part supply delphi said, g.m. approved the switch even though it did not meet g.m. specifications. 2004, g.m. engineering inquiry was opened. it was closed one year later, march 2005. a g.m. report said fixes would take too long and cost too much. none of the solutions represents an acceptable business case. four months later, july 29th, 2005, the first death linked to the defect, a 16-year-old killed in a chevy cobalt in maryland. ber rose was terri battista's daughter. >> it is just horrific that money is put over human lives, it's not right and they need be to held accountable. >> reporter: g.m. has admitted the ignition switch on more than 2 million vehicles may suddenly move to the off or accessory position, shutting off the engine, disabled power steering, power brakes, the seat belts and the air bags. the national highway traffic safety administration or nhtsa noticed a trend in consumer complaints in 2007 but never investigated further. the first recall by g.m. didn't come until february of this
problem. 2001, a pre-production report for the saturn ion identified an issue. 2002, part supply delphi said, g.m. approved the switch even though it did not meet g.m. specifications. 2004, g.m. engineering inquiry was opened. it was closed one year later, march 2005. a g.m. report said fixes would take too long and cost too much. none of the solutions represents an acceptable business case. four months later, july 29th, 2005, the first death linked to the defect, a 16-year-old killed in a...
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Apr 1, 2014
04/14
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FOXNEWSW
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who as gm approved the switch made by delphi over a decade ago.ecalling more than 6 million vehicles including another 1.3 million yesterday. that or a steering problem. the issue with the electronic power can stop working. all of these recalls come with a price tag $750 million. be looking to save on air fair. the best day to buy tickets is thursday. the best day is wednesday and return ton a tuesday. this according to numbers crunched by hubber. you buy, i fly. i wish. apple gets it it could cost 500 bucks. >> teachers like voice recognition and video recordings a $500 price tag could be justified and that could be music to apple shareholder's ears. >> when is the next one. >> chris christie responding to critics of that infamous hug with president obama. >> they have no effect on what he felt objectively. >> what the new jersey governor had to say about the 2016 race. >> the air force forced to remove a key part of display honoring prisoners of war. first a look at late night with segment mey segment mey seth meyers. >> the secret service arres
who as gm approved the switch made by delphi over a decade ago.ecalling more than 6 million vehicles including another 1.3 million yesterday. that or a steering problem. the issue with the electronic power can stop working. all of these recalls come with a price tag $750 million. be looking to save on air fair. the best day to buy tickets is thursday. the best day is wednesday and return ton a tuesday. this according to numbers crunched by hubber. you buy, i fly. i wish. apple gets it it could...
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who was that created that defective part in what was done about it within delphi, which at that.k of time was deciding as much as general motors itself that it would tell itself a lease on the idea that cheaper is better and we will worry about the rest later. what we are witnessing here is devastating because we now know that 70% of the cars that they are making, general motors, 70% is away from this country, the richest consumer market in the world. this is madness. is it not? >> anyway it is madness. but in a way that is how the global auto industry works and they are very successful in china. so there is a good reason that they are building a lot of vehicles in china and they are concentrating a lot of effort on it. at the same time, off shoring a lot of this stuff could result in this recall part, very inexpensive part that has untold damage. lou: off shoring the production, sharing, if you will. sharing the knowledge base in return for orders and that is the effect of it. but the real effect is working men and women in this country come in the middle class, they are being d
who was that created that defective part in what was done about it within delphi, which at that.k of time was deciding as much as general motors itself that it would tell itself a lease on the idea that cheaper is better and we will worry about the rest later. what we are witnessing here is devastating because we now know that 70% of the cars that they are making, general motors, 70% is away from this country, the richest consumer market in the world. this is madness. is it not? >> anyway...
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Apr 3, 2014
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we'll be watching delphi automotive today.t's been named in at least two lawsuits involving gm's defective ignition switch and the subsequent recall. delphi made the ignition switch that's been cited in a dozen deaths at this point. according to legal documents, gm set the spes ficks for the switch and approved the final design, still, delphi shares we'll keep on watch. the shares are unchanged. >>> guest host this morning is one of our very own "squawk" market masters and everyone's favorite short seller, jim cha in. os is president and founder of kiniko associates. >> i was kind of kidding about -- the malaysian airliner was a big tragedy. this is something that cnbc cannot overcover because of what happened on "60 minutes," it's number one on amazon, michael lewis's book. do you want to talk about this? do you want to talk about china? i think i was channeling you earlier today. maybe it's a stretch to say that the fed rigged the equity markets. maybe that's a stretch. but is it a stretch to say they rigged the bond market.
we'll be watching delphi automotive today.t's been named in at least two lawsuits involving gm's defective ignition switch and the subsequent recall. delphi made the ignition switch that's been cited in a dozen deaths at this point. according to legal documents, gm set the spes ficks for the switch and approved the final design, still, delphi shares we'll keep on watch. the shares are unchanged. >>> guest host this morning is one of our very own "squawk" market masters and...
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> not if they withheld information from congress that is becoming obvious this which was given to delphi and accepted by gm somebody said the switches will work there was a piece of paper with the signature that accepted the switches. >> is your daughter counted among the known fatalities or initiate question mark. >> i have seen to lancers i have seen articles that they would not confirm that they were one of the 13. i know that she was i know there are 13 victims and probably more. neil: i apologize for my confusion on a pressing day i appreciate you to take the time. in the meantime now the president is crowing but we have been doing some digging we found some numbers. (dad) well, we've been thinking about it and we're just not sure. (agent) i understand. (dad) we've never sold a house before. (agent) i'll walk you guys through every step. (dad) so if we sell, do you think we can swing it? (agent) i have the numbers right here and based on the comps that i've found, the timing is perfect. ...there's a lot of buyers for a house like yours. (dad) that's good to know. (mom) i'm so excite
> not if they withheld information from congress that is becoming obvious this which was given to delphi and accepted by gm somebody said the switches will work there was a piece of paper with the signature that accepted the switches. >> is your daughter counted among the known fatalities or initiate question mark. >> i have seen to lancers i have seen articles that they would not confirm that they were one of the 13. i know that she was i know there are 13 victims and probably...
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delphi automotive saying they knew they had problems with these infamous admission switches.warning to young about them repeatedly. and then there are gm engineers who similarly said that their warnings went unheeded. and joan clayborne said you could have a big problem that just gets bigger. of course, the former head of the national highway traffic safety demonstration. she was among the first to say that gm had a problem on its hands in this pr issue would not go away. so you prove the pressing it right. so what can we expect from hearing tomorrow that will feature an apologetic gm ceo saying that she regrets what happened but isn't yet quite ready to say that she takes full responsibility for what happened. what do you make of what is at stake here? >> i don't think she can answer any specific questions. i don't think that she is deeply involved in the details and she probably hasn't gotten briefed on them. so this hearing is really just for her to appear and say that she's very and that she's going to try to make it right. but i think that there are other questions that
delphi automotive saying they knew they had problems with these infamous admission switches.warning to young about them repeatedly. and then there are gm engineers who similarly said that their warnings went unheeded. and joan clayborne said you could have a big problem that just gets bigger. of course, the former head of the national highway traffic safety demonstration. she was among the first to say that gm had a problem on its hands in this pr issue would not go away. so you prove the...
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> not if they withheld information from congress that is becoming obvious this which was given to delphi and accepted by gm somebody said the switches will work there was with the sie that accepted the switches. >> is your daughter counted among the known fatalities or initiate question mark. >> i have seen to lancers i have seen articles that they would not confirm that they were one of the 13. i know that she was i know there are 13 victims and probably more. neil: i apologize for my confusion on a pressing day i appreciate you to take the time. in the meantime now the president is crowing but we have been doing some digging we found some numbers. ♪ [ male announcer ] this m has an accomplished research and analytical group at his disposal. ♪ but even more pressive is how he puts it to work for his clients. ♪ morning. morning. thanks for meeting so early. oh, it's not a big deal at all. come on in. [ male announcer ] it's how edward jones makes sense of investing. ♪ spending the day with my niece. i don't use super poligrip for hold because my dentures fit well. before those little pie
> not if they withheld information from congress that is becoming obvious this which was given to delphi and accepted by gm somebody said the switches will work there was with the sie that accepted the switches. >> is your daughter counted among the known fatalities or initiate question mark. >> i have seen to lancers i have seen articles that they would not confirm that they were one of the 13. i know that she was i know there are 13 victims and probably more. neil: i apologize...
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> not if they withheld information from congress that is becoming obvious this which was given to delphi and accepted by gm somebody said the switches will work there was a piece of paper with the signature that accepted the switches. >> is your daughter counted among the known fatalities or initiate question mark. >> i have seen to lancers i have seen articles that they would not confirm that they were one of the 13. i know that she was i know there are 13 victims and probably more. neil: i apologize for my confusion on a pressing day i appreciate you to take the time. in the meantime now the president is crowing but we have been doing some digging we found some numbers. so ally bank has a raise your rate cd that wothat's correct.a rate. cause i'm really nervous about getting trapped. why's that? uh, mark? go get help! i have my reasons. look, you don't have to feel trapped with our raise your rate cd. if our rate on this cd goes up, yours can too. oh that sounds nice. don't feel trapped with the ally raise your rate cd. ally bank. your money needs an ally. if ...hey breathing's hard...
> not if they withheld information from congress that is becoming obvious this which was given to delphi and accepted by gm somebody said the switches will work there was a piece of paper with the signature that accepted the switches. >> is your daughter counted among the known fatalities or initiate question mark. >> i have seen to lancers i have seen articles that they would not confirm that they were one of the 13. i know that she was i know there are 13 victims and probably...
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. >> this is any real exchange between delphi employees to 2005 discussing the changes to the ignitionh. it notes a gm engineer is asking for information because quotation kobold is building up in their face and in regards to you turning the car off with the drivers the spirit there is a lot that has happened in statements made as it relates that is why we have hired a complete investigation of this process. melissa: joining me now our power panel. geoff corbett and and former federal prosecutor, i welcome to all three of you. i will go legal first. that e-mail exchanges really bad. is that the smoking gun and? >> that was the torpedo. but here is the problem. gm declared bankruptcy in the discharge of all obligations for these lawsuits. if i am a lawyer representing somebody injured now i find out they have in the mail like that i would be looking at fraud. there is a lot of hurdles but to me answer your question that is brutal. melissa: james you made a good point as well. >> the question is if you want to believe the coulter that the government said we have to preserve. this company
. >> this is any real exchange between delphi employees to 2005 discussing the changes to the ignitionh. it notes a gm engineer is asking for information because quotation kobold is building up in their face and in regards to you turning the car off with the drivers the spirit there is a lot that has happened in statements made as it relates that is why we have hired a complete investigation of this process. melissa: joining me now our power panel. geoff corbett and and former federal...
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. >> in that binder next to you, if you would turn to tab 25, this is an e-mail exchange between delphioyees in 2005. >> we've been listening to mary barra, relative new ceo of general motors, quite frankly in the hot seat about this new problem that came to light. she said vehicles no longer made, the ones that had the faulty ignition switch. she said it came to light under her watch, a new watch, but she still claims complete responsibility for this. she understands there will be civil and legal responsibilities and she's determined to set new standards. she announced a new safety person employed by gm. ken feinberg, you know that name investigations into 9/11 and boston bombing. he will lead some sort of investigation here. time to bring in charles payne from the fox business network on what we just heard. huge problem for general motors. >> this is a huge problem. general motors going through the bailout and getting so much negative publicity finally started to regain market share. around september of last year, maybe americans for giving them somewhat. of course mary barra herself
. >> in that binder next to you, if you would turn to tab 25, this is an e-mail exchange between delphioyees in 2005. >> we've been listening to mary barra, relative new ceo of general motors, quite frankly in the hot seat about this new problem that came to light. she said vehicles no longer made, the ones that had the faulty ignition switch. she said it came to light under her watch, a new watch, but she still claims complete responsibility for this. she understands there will be...
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according to the national highway traffic safety administration, nhtsa, ignition switch supplier delphidesigned the ignition for the cadillac srx before it went into production in 2006 after gm engineers reported that the engine could turn off when their knees bumped, bumped ignition while driving. on opening bell with bartiromo,-- maria bartiromo jim lens, ceo of toyota of north america, dialing with 2.6, cars recalled based on toyota's problem. >> bottom line our solution to the problem at the time listen much more closely to your customers, be transparent inside and outside of the country and act quickly as you can. gerri: i guess we'll have to wait and see to see if gm takes his advice. one note, gm won one court battle. a federal judge rejecting a bid to tell the out automaker to tell customers stop driving cars that are to be recalled until they are fixed. >>> peeps are a favorite. the ceo of those fluffy mash medical show treats are here to show the newest chicks. >>> is america losing its global competitive edge and let other countries like china pass us by? we'll debate it comi
according to the national highway traffic safety administration, nhtsa, ignition switch supplier delphidesigned the ignition for the cadillac srx before it went into production in 2006 after gm engineers reported that the engine could turn off when their knees bumped, bumped ignition while driving. on opening bell with bartiromo,-- maria bartiromo jim lens, ceo of toyota of north america, dialing with 2.6, cars recalled based on toyota's problem. >> bottom line our solution to the problem...
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in february of 2002, gm's ignition switch supplier, delphi, informed the company that it didn't meet gm's minimum specification, but gm approved it anyway. >> a top republican wanted to know why gm bought a part that didn't meet its own specifications. >> there will be times where there will be a material or a part that doesn't meet the exact specifications, but after analysis andic looking at the performance, the safety, the durability, the reliability, the functionality, it will be okay. that happens very often as we buy steel for the bodies. >> with all respect -- >> no. >> what you answered is gobbly gook. >> earlier, the step father of a woman killed in a 2006 crash blamed the automaker's financial trouble for being a higher priority. >> would it have saved the two girls' lives and lives of others? yes. should gm be able to hide behind their bankruptcy and not accept the responsibility and liability of the young lives? no. >> the ceo hinted that might have been an issue. >> is there a culture in gm at that time that they would have put cost over safety? >> again, we're doing a c
in february of 2002, gm's ignition switch supplier, delphi, informed the company that it didn't meet gm's minimum specification, but gm approved it anyway. >> a top republican wanted to know why gm bought a part that didn't meet its own specifications. >> there will be times where there will be a material or a part that doesn't meet the exact specifications, but after analysis andic looking at the performance, the safety, the durability, the reliability, the functionality, it will...
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degorgio signed off on the product change from the gm supplier of the ignition switch, which is delphi to beef up the ignition switch somewhat even though it still didn't meet gm's own specifications. years later in 2013, he was deposed under oath and in product liability case, melton versus gm and he said, and he testified under oath that he was unaware of any product design changes in the ignition switch. so senator mccaskill said at the senate hearing last week he is lying. that appears to be the case. gerri: changed his stories on the record it would appear. tell me about gary altman? >> gary altman was the product engineer manager on the chevy cobalt in the 2004-2005 time frame. it was his directive to close general motors consideration of making any changes to the ignition switch to correct the problem. and the main reason given in the directive was cost. it was a business decision. and by the way that cost i heard figures of 57 cents or 90 cents per vehicle. that apparently was the corporate culture to be monitoring costs. so frankly i wonder, if mr. de giorgio was suspended for
degorgio signed off on the product change from the gm supplier of the ignition switch, which is delphi to beef up the ignition switch somewhat even though it still didn't meet gm's own specifications. years later in 2013, he was deposed under oath and in product liability case, melton versus gm and he said, and he testified under oath that he was unaware of any product design changes in the ignition switch. so senator mccaskill said at the senate hearing last week he is lying. that appears to...
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frankly, it wasn't a good day for delphi.ns answered as they avoided some of the tough questions. it was very, very frustrating for both republicans and democrats on that committee, but they have got to step up and really start answering some questions. >> senator, do you trust that general motors' cars are safe to drive? would you trust your child in one? >> i wouldn't. mary barra said she'd let her son drive one but i certainty wouldn't. to think you have to drive all your cars off your key chain. keep in mind if you hit rough road, if you hit a pothole, same thing could happen. i would not have my children in one of those vehicles. >> well, at the same time i know you have been pretty critical of nhtsa, that is the regulator here for not doing more when it saw issues. so what steps need to be taken now and are you comfortable that you have heard from them a real defense as to why they weren't more proactive on this front years ago? >> i raised a lot of questions in committee, specifically as to whether or not they received
frankly, it wasn't a good day for delphi.ns answered as they avoided some of the tough questions. it was very, very frustrating for both republicans and democrats on that committee, but they have got to step up and really start answering some questions. >> senator, do you trust that general motors' cars are safe to drive? would you trust your child in one? >> i wouldn't. mary barra said she'd let her son drive one but i certainty wouldn't. to think you have to drive all your cars...
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we've got way too many fingers in the soup pot, nhtsa, delphi, gm at fault because of their quality department you start to wonder who's going to pay this bill? and i have a sinking, really bad feeling it's going to be us, the taxpayer. liz: excellent point. we thank lauren and, of course, jeff flock. we want to let you know, she just referenced nhtsa, national highway transportation safety, the head of nhtsa will be testifying in just a moment. we're continuing the follow this very closely, closing bell ringing in less than five minutes with a big rally underway, second day in a row here. but once again can, nothing short of startling as far as this testimony has been concerned. next up, as i mentioned, the head of the national highway traffic safety administration. they were supposed to be watching all of this. every time there's a recall or a problem, they are notified. what will we learn from that? and a news conference where mary barra has said she will go before tv cameras once she is done today. we'll carry it live. david asman, my partner, coming up with me next. ♪ ♪ ♪ ♪ ♪ ♪ [ tires sc
we've got way too many fingers in the soup pot, nhtsa, delphi, gm at fault because of their quality department you start to wonder who's going to pay this bill? and i have a sinking, really bad feeling it's going to be us, the taxpayer. liz: excellent point. we thank lauren and, of course, jeff flock. we want to let you know, she just referenced nhtsa, national highway transportation safety, the head of nhtsa will be testifying in just a moment. we're continuing the follow this very closely,...
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. >> this seems easy looking back but gm knew, delphi their parts supplier knew, somebody told ntsb. nitsa was investigating air bag issues. testimony didn't connect or at least at the time they could not connect to what we now know are faulty ignition switches. at the time they were investigating gm was making a switch and making the cars safer. so they said they started to see the default rates, the injury rates, the crash rates go down and they really didn't have a basis for launching a further investigation. beyond what they had done. there are a lot of questions about really the timeline on both sides. >> tracie potts in washington, thank you. >> rescuers in the sierra search for 25-year-old man who vanished snowboarding yesterday afternoon. officials say the snowboarder may have gotten disoriented in a snowstorm in the back country. a friend he was with made it down the mountain and went to find help. she an experienced rider and has the proper gear with him to handle the conditions. in the sierra foothills is search for a man missing in the rugged mountains. robert root disapp
. >> this seems easy looking back but gm knew, delphi their parts supplier knew, somebody told ntsb. nitsa was investigating air bag issues. testimony didn't connect or at least at the time they could not connect to what we now know are faulty ignition switches. at the time they were investigating gm was making a switch and making the cars safer. so they said they started to see the default rates, the injury rates, the crash rates go down and they really didn't have a basis for launching...
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. >> lawmakers also focus odd on why gm twice approved ignition parts made by delphi that fell short of company specification. in one 2005 memo, a gm official estimated a new switch would cost the company just 90 cents per switch. barra apologized to victims' family members who came to washington demanding answers from gm and lined the back of the hearing room. displaying photos of loved ones that have died. senators richard blumenthal and ed markey's bill would require lawmakers to submit accident reports to nhtsa, when they learn of a fatality, and it would require the agency to make the information available to the public. congressman henry waxman wants every car sold in the u.s. to come with a $3 fee that would fund nhtsa's operations and increase the civil penalties the agency can levy, up to $200 million. well, joining me now, democratic senator claire mccaskill of missouri, who will chair this morning's hearing. senator, i assume you watched the house yesterday, looked at mary barra's testimony. i assume you still have questions unanswered. what's the biggest one in your mind?
. >> lawmakers also focus odd on why gm twice approved ignition parts made by delphi that fell short of company specification. in one 2005 memo, a gm official estimated a new switch would cost the company just 90 cents per switch. barra apologized to victims' family members who came to washington demanding answers from gm and lined the back of the hearing room. displaying photos of loved ones that have died. senators richard blumenthal and ed markey's bill would require lawmakers to...
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the supplier for gm, the giant supplier, delphi, basically already stated publicly that these parts didcifications. she is saying in fact that may be true but it still did the job even though it did meet the specifications. clearly more investigation is needed. david: yeah. all right. there is another question here, ralph. a question of what the auto task force knew or did not know did not know what was going on gm. if mary barra could be criticized not knowing details with ignition switch, and the auto task force. senator i have a wrote talked td about that let's play the that sound bite. >> i would like to know what information was provided to the task force and other officials in the administration as we as we provided taxpayer dollars to gm to address the bailout and the bankruptcy? david: ralph, isn't it important to know if the auto task force, people like steve rattner, for example, the car czar, knew about any of this. >> they never got close to this it was all about finance, bankruptcy, restoring the company, and getting the government 60% share out of out of the treasury depar
the supplier for gm, the giant supplier, delphi, basically already stated publicly that these parts didcifications. she is saying in fact that may be true but it still did the job even though it did meet the specifications. clearly more investigation is needed. david: yeah. all right. there is another question here, ralph. a question of what the auto task force knew or did not know did not know what was going on gm. if mary barra could be criticized not knowing details with ignition switch, and...
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delphi the supplier of this ignition switch told general motors it didn't meet specifications back inormation it should have to the department of transportation. >> i think the big issue is the serial number. if it is true they fixed the switch but kept the serial number the same, doesn't that go past ordinary practice of how to cover up situations and become something that could be criminal? >> well, i don't know whether that was a mistake or whether intentional -- >> if it were intentional? >> if it were intentional, definitely. if it were a mistake, delphi told gm the part they were using, the switch, did not meet specifications. gm then in 2004 should have taken action to upgrade that switch. none of these deaths probably would have occurred. >> is it safe to assume the reason gm did not take the steps because they looked at tables with people good at math and using compute rs and said this is going to cost a lot. let's wait and see and pay down the line. >> we don't know that for a fact. gm said the reason they weren't going to do a recall because it wasn't a good business decisi
delphi the supplier of this ignition switch told general motors it didn't meet specifications back inormation it should have to the department of transportation. >> i think the big issue is the serial number. if it is true they fixed the switch but kept the serial number the same, doesn't that go past ordinary practice of how to cover up situations and become something that could be criminal? >> well, i don't know whether that was a mistake or whether intentional -- >> if it...
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a separate e-mail in 2005 from delphi a gm parts manufacturer said the chevy cobalt is blowing up in their face in regards to turning the car off. gm decided not to make fixes. >> they were warned again and again over the next decade but they did nothing. >> reporter: mary barra, who started at gm in 1980 and became ceo in january, testified before congress tuesday. >> i am deeply sorry. >> reporter: congresswoman diana deget showed a faulty ignition switch, and said it would have cost 57 cents to fix. >> when gm concluded, as you heard from my opening statement, that the tooling cost and price pieces are too high what does that mean? >> i find that statement to be very disturbing if that was the reason the decision was made. that is unsellable. >> reporter: barra changed the old gm culture for lack of communication. she frequently apologized to families whose loved ones had been killed or injured in crashes. >> we think the situation is tragic. we're deeply sorry. we apologize for what has happened. >> reporter: barra was questioned why the faulty ignition switch was redesigned in 2
a separate e-mail in 2005 from delphi a gm parts manufacturer said the chevy cobalt is blowing up in their face in regards to turning the car off. gm decided not to make fixes. >> they were warned again and again over the next decade but they did nothing. >> reporter: mary barra, who started at gm in 1980 and became ceo in january, testified before congress tuesday. >> i am deeply sorry. >> reporter: congresswoman diana deget showed a faulty ignition switch, and said it...
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the wall street journal is reporting delphi, auto supplier, told gm that there was a problem with theh. gm knowing, according to the wall street journal, gm knew about the problem with the ignition switch but signed off on getting that part put in the cobalt any way. it went ahead and did that because it said it would tell dealers to make sure their key ring wasn't heavy. those are interesting details coming out of the wall street journal. there's another layer. why would gm accept a part it reportedly knew was faulty. >> alleyson reporting live. thanks so much. >>> the friends of the pilot shah say they don't believe the pilot is responsible for the disappearance. now his daughter is speaking out, and she's angry. [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some financial folks who will talk to them about
the wall street journal is reporting delphi, auto supplier, told gm that there was a problem with theh. gm knowing, according to the wall street journal, gm knew about the problem with the ignition switch but signed off on getting that part put in the cobalt any way. it went ahead and did that because it said it would tell dealers to make sure their key ring wasn't heavy. those are interesting details coming out of the wall street journal. there's another layer. why would gm accept a part it...
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tax credit to expand at the end of last year to have those tens of thousands of retirees there are delphi workers new york, michigan even those that are eligible for the trade adjustment assistance language to make sure they get that tax credit 70 percent of the health care cost to offer an amendment to for two years that is fiscally responsible to a permanent solution. the last issue with states like mine and throughout the country we see what happens to that community and laid-off teachers will support more desperate circumstances ears -- circumstances the manufacturing community tax credit build the new market tax credit most have supported what new markets have done for development and large portions of their state with the community tax credit can make a big difference and the last point i hope in this committee we can work on expansion it does exactly what we have wanted to do for 20 years president reagan called it the best anti-poverty measure and we'd be to extend that to the childless low income workers it gives great incentive to work to help communities toward low-income commu
tax credit to expand at the end of last year to have those tens of thousands of retirees there are delphi workers new york, michigan even those that are eligible for the trade adjustment assistance language to make sure they get that tax credit 70 percent of the health care cost to offer an amendment to for two years that is fiscally responsible to a permanent solution. the last issue with states like mine and throughout the country we see what happens to that community and laid-off teachers...
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. >> will this overview includes looking at delphi and their participation? we go in that direction and get information from them, yes. >> i think that it makes sense to talk to people and find out in their words and bring it to this committee to find out what their understanding is to determine their involvement in this particular case. can you tell us whether or not this is a one-time occurrence? >> i see it as a very extraordinary situation. there have been many cases we have been quick to act from the safety recall process and as i mentioned before often we are known to do more recalls of smaller populations because we want to get two issues as quickly as we can. >> so you have no recall where they had a different part number? >> that is bad engineering. >> do you think it was an oversight? >> i don't know and that's what i hope to learn in the investigation. what would you consider the financial stability of gm in 2005, 2006 and 2007 just before the bell came out? what do you think would have been the damage done to the public image in 2005? >> i can't g
. >> will this overview includes looking at delphi and their participation? we go in that direction and get information from them, yes. >> i think that it makes sense to talk to people and find out in their words and bring it to this committee to find out what their understanding is to determine their involvement in this particular case. can you tell us whether or not this is a one-time occurrence? >> i see it as a very extraordinary situation. there have been many cases we...
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value stock picker scott black of delphi. tdd#: 1-800-345-2550 trading inspires your life.see fads... tdd#: 1-800-345-2550 ...you see opportunities. tdd#: 1-800-345-2550 at schwab, we're here to help tdd#: 1-800-345-2550 turn inspiration into action. tdd#: 1-800-345-2550 we have intuitive platforms tdd#: 1-800-345-2550 to help you discover what's trending. tdd#: 1-800-345-2550 and seasoned market experts to help sharpen your instincts. tdd#: 1-800-345-2550 so you can take charge tdd#: 1-800-345-2550 of your trading. [ banker ] sydney needed some financial guidance so she could take her dream to the next level. so we talked about her options. her valuable assets were staying. and selling her car wouldn't fly. we helped sydney manage her debt and prioritize her goals, so she could really turn up the volume on her dreams today...and tomorrow. so let's see what we can do about that... remodel. motorcycle. [ female announcer ] some questions take more than a bank. they take a banker. make a my financial priorities appointment today. because when people talk, great things happen.
value stock picker scott black of delphi. tdd#: 1-800-345-2550 trading inspires your life.see fads... tdd#: 1-800-345-2550 ...you see opportunities. tdd#: 1-800-345-2550 at schwab, we're here to help tdd#: 1-800-345-2550 turn inspiration into action. tdd#: 1-800-345-2550 we have intuitive platforms tdd#: 1-800-345-2550 to help you discover what's trending. tdd#: 1-800-345-2550 and seasoned market experts to help sharpen your instincts. tdd#: 1-800-345-2550 so you can take charge tdd#:...
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supplierthey told delphi to increase the torque in the ignition switch so the key would not move out of the run position and into access remote. gm was not alone in examining problems with the cobalt. the national highway traffic safety administration, and tsa, was alsoh examining problems. but they looked at airbag non-department. they propose the agency investigate the cobalt because of a pattern of mondo plummets. pattern that did not exist in similar sedans. s for cobalt air bags. a total of 29 crashes causing 25 injuries, 4 deaths and 14 field reports. yet nhtsa decided not to investigate even when the issue was raised three years later in 2010. nhtsa again passed on investigating. gm was also looking into the air bag nondeployments. as early as 2007, gm started to track incident where cobalt air bags did not deploy in crashes. in 2011 and 2012, gm assigned at least two groups of engineers to examine the problem. according to gm's public statements it wasn't until december 2013 the company finally put the pieces together and linked the problems with the air bags with the fally i
supplierthey told delphi to increase the torque in the ignition switch so the key would not move out of the run position and into access remote. gm was not alone in examining problems with the cobalt. the national highway traffic safety administration, and tsa, was alsoh examining problems. but they looked at airbag non-department. they propose the agency investigate the cobalt because of a pattern of mondo plummets. pattern that did not exist in similar sedans. s for cobalt air bags. a total...
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there's a lot of accountability to unravel within there's delphi, which had not been part of generalt company that made the parts. if these parts weren't assigned new numbers -- >> i'm suinging them, too. >> the companies and vendors involved. her job is to figure out how do we repair this so this doesn't happen again? we're going for atonement, fixing, correcting, building a new relationship. there's a way to re-establish a relationship with the old friends with the customers they've lost. i think that's her job. she's running a different company going forward. i think that there's -- there will be plenty of investigation to figure out if anything was concealed. it looks like there were stupid decisions made. we'll see who made the decisions. right now i don't see any reason to unravel the other company that's responsible for any league damage. >> jeff, do heads need to roll? >> if they're still employed there. i think all of her top team were happily dispatched elsewhere and were not involved in the product decisions. it would be curious to see who is accountable, if there's anybod
there's a lot of accountability to unravel within there's delphi, which had not been part of generalt company that made the parts. if these parts weren't assigned new numbers -- >> i'm suinging them, too. >> the companies and vendors involved. her job is to figure out how do we repair this so this doesn't happen again? we're going for atonement, fixing, correcting, building a new relationship. there's a way to re-establish a relationship with the old friends with the customers...