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Jul 13, 2014
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gm recall, how safe are we? we're expecting the latest on the deadly recall and how it affects everyone on the road. also, victim families are here. >> why compensation can bring my daughter back? >> they should be held accountable. gerri: should they take the compensation or press on with criminal case? we have exclusive demonstration that you will only see here. >> stay relaxed. it is very simple to restart the car. gerri: we'll investigate the national highway transportation safety administration, nshta. can this government agency fulfill its mission to protect consumers? among our guests, gm compensation fund chief ken feinberg, consumer advocate, ralph nader, lead attorney representing victims, bob hilliard. the gm whistle-blower who warn of a crisis years ago, and "consumer reports" top car expert, jeff bartlet. they're all here and a lot more this is "willis report" special investigation. the gm recall, how safe are we? we begin tonight's program with some perspective. while the numbers are startling in t
gm recall, how safe are we? we're expecting the latest on the deadly recall and how it affects everyone on the road. also, victim families are here. >> why compensation can bring my daughter back? >> they should be held accountable. gerri: should they take the compensation or press on with criminal case? we have exclusive demonstration that you will only see here. >> stay relaxed. it is very simple to restart the car. gerri: we'll investigate the national highway...
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Jul 17, 2014
07/14
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miss barra with kenneth feinberg who is heading up gm's compensation program and gm's top lawyer are also appearing at today's hearing. senator claire mccaskill chairs the subcommittee, while senator john thune serves as the ranking member. we're expecting mr. feinberg to appear first. >>> all right, this hearing will come to order. today we revisit the tragic management failures at general motors that killed people. first i want to acknowledge in my opening remarks then from my viewpoint the ceo of general motors, mary barra, has stepped up and with courage and conviction has confronted head on the problem and the corporate culture that caused it. some see the record number of recalls at general motors as a problem. i see it as a good sign. second, i want to briefly say that i think i speak on behalf of all members of congress who have asked very difficult questions surrounding these tragic events that while we are asking tough questions, we have great respect for the workers of general motors. i would like to take this moment to thank the workers at general motors. you are terrific
miss barra with kenneth feinberg who is heading up gm's compensation program and gm's top lawyer are also appearing at today's hearing. senator claire mccaskill chairs the subcommittee, while senator john thune serves as the ranking member. we're expecting mr. feinberg to appear first. >>> all right, this hearing will come to order. today we revisit the tragic management failures at general motors that killed people. first i want to acknowledge in my opening remarks then from my...
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Jul 18, 2014
07/14
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>> that's entirely up to gm. that is entirely up to gm. i'm not an automotive engineer, and all i can say, senator, is that when gm asked me to create a fund and for us to administer the fund, they made it clear the only models where this problem and the context of the problem gave rise to this special compensation on these models, and as with 9/11, and with bp, i must abide by that delegation of authority. >> let me move, then, to another topic. i can tell you about instances where the air bags deployed and the crashes resulted from this defective ignition situation. the hypothetical scenario we have been discussing here is a real fact. i've talked to people who drove those cars, they stalled, and they were able to turn them on, and i can present to you specific instances of crashes. will you consider them and make refunds? >> i want to see those claims. i've talked in the last three or four months to automotive engineers, to lawyers, to gm officials. i think it is such an unlikely possibility, despite -- but if it is, i'd like to see tha
>> that's entirely up to gm. that is entirely up to gm. i'm not an automotive engineer, and all i can say, senator, is that when gm asked me to create a fund and for us to administer the fund, they made it clear the only models where this problem and the context of the problem gave rise to this special compensation on these models, and as with 9/11, and with bp, i must abide by that delegation of authority. >> let me move, then, to another topic. i can tell you about instances where...
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Jul 1, 2014
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gm shares fell nearly 1%. joining us now to talk about all of this, phil lebeau who is covering the gm cross-ice fris day one. and also with us, collin langdon from ubs. so, phil, let me begin with you. you are just a few weeks ago the ceo of gm was saying that she thought that they were coming towards the end of this whole recall crisis. and now this. this is a big one. so what does this mean for her credibility? but also more importantly, what does this mean for the credibility of general metors? >> it means they're not clear to clearing out the potential cases related to ignitions, related to other quality problems and ultimately what this does is it calls into question the quality control at general motors. now this may be the last massive recall, suzy. but at some point, people are going to say when does it end? and there is no way of predicting that as we know from today's recalls. >> what do you by this that, collin? when do you think it ends? what about the pricetag they're putting on it so far? could
gm shares fell nearly 1%. joining us now to talk about all of this, phil lebeau who is covering the gm cross-ice fris day one. and also with us, collin langdon from ubs. so, phil, let me begin with you. you are just a few weeks ago the ceo of gm was saying that she thought that they were coming towards the end of this whole recall crisis. and now this. this is a big one. so what does this mean for her credibility? but also more importantly, what does this mean for the credibility of general...
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Jul 18, 2014
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the gm nod. i've been feeling what we are getting here is the gm salute. someone else is responsible. someone else should take the job of doing the right thing. so i hope you will reconsider. i'm not taking this answers necessarily final and i hope we'll have a chance to talk more about it. let me ask you ms. barra about expanding compensation. i mentioned at the opening that there have been a number of recalls. i think the number is 8 million of cars with defective ignition switches which the company acknowledged caused the deaths and injuries. will those deaths and injuries be included in the compensation fund? >> there are very distinct differences between a population that is included in the compensation program that is being administered by kenneth feinberg as it relates to specific issues, series of mistakes that were made of were made over long period of time and what i'll call the cobalt family of vehicles. so a very specific set of facts. on the other vehicles i would say quite the contr
the gm nod. i've been feeling what we are getting here is the gm salute. someone else is responsible. someone else should take the job of doing the right thing. so i hope you will reconsider. i'm not taking this answers necessarily final and i hope we'll have a chance to talk more about it. let me ask you ms. barra about expanding compensation. i mentioned at the opening that there have been a number of recalls. i think the number is 8 million of cars with defective ignition switches which the...
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Jul 6, 2014
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gm may not challenge it in court, gm may not reject it, gm may say that they think we made a mistake. that's fine, but they have to honor it. and they have to pay the claim. and they cannot refuse under the protocol to pay any final determination that we make on the grounds that it's a mistake. we heard you, gm, we respect your right to disagree. we've decided it, and that's the end of it. yes, yes, sir. you're with to who? >> [inaudible] several of the members of congress investigating gm have sort of taken an interest in the victim compensation fund. did you meet with any members of congress or did you brief any of them sort of on the final protocol? is. >> i met and briefed the most visible, i think, one of the most visible members of congress, senator blumenthal of connecticut. extraordinarily helpful. i met him personally with his staff. he had written a letter to the justice department urging compensation. i met with him. he expressed certain views about helping claimants and some suggestions that he hoped i would follow up on which i have, and i welcome any input or think sugge
gm may not challenge it in court, gm may not reject it, gm may say that they think we made a mistake. that's fine, but they have to honor it. and they have to pay the claim. and they cannot refuse under the protocol to pay any final determination that we make on the grounds that it's a mistake. we heard you, gm, we respect your right to disagree. we've decided it, and that's the end of it. yes, yes, sir. you're with to who? >> [inaudible] several of the members of congress investigating...
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Jul 1, 2014
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if you are a gm customer or consumer, you have to wonder how long gm made these defective vehicles. it's going back to 1997. suspected. >> what kind of message is this sending to consumers to keep coming out with these. >> i think they are trying to pace it. and some of these have come out on friday afternoons when people are paying less attention. but that is a terrible idea. it tells us the scale is so large that no one could absorb it in one go. even at this moment reporters to put this together, we have to add up what has happened over the last three months to -- add the numbers ourselves to because gm isn't providing that. >> let's talk about this compensation plan for victims. is this a fair way to approach it? this >> it's fair, but a cold fair way. there's almost an algorithm. if you spent one night in a hospital you get $20,000. more than 20 nights in a hospital, $500 thousand dollars. if you made $46,000 a year, and loss your life, your family will get something like $4 million. so this isn't really how you want to go about things in this cold algorithmic way. and it will
if you are a gm customer or consumer, you have to wonder how long gm made these defective vehicles. it's going back to 1997. suspected. >> what kind of message is this sending to consumers to keep coming out with these. >> i think they are trying to pace it. and some of these have come out on friday afternoons when people are paying less attention. but that is a terrible idea. it tells us the scale is so large that no one could absorb it in one go. even at this moment reporters to...
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Jul 20, 2014
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>> in the courts. >> can they appeal to gm? >> i guess they can appeal to gm as well. >> i don't know if you have performance indicators moving forward on what you and your staff will be -- based on your pay, it is important there is transparency of your and knowing here that you are being compensated by gm, a think transparency is important. will you or your staff be paid based on a number of claims made or the number of that nature? >> absolutely not. the me talk you about bp. previous administrations of the bp oil spill victim compensation fund did receive some criticism. from some of the stakeholders that you are working for the oil company's interests, instead of being independent. i will say. >> how do we know that you will be accountable to the victims? criticism came my way, i asked former attorney of the michael mukasey bush administration to review my whole compensation, the whole way we went about being paid, my independence, and he wrote an opinion letter which i made available, making it very clear and doing indepe
>> in the courts. >> can they appeal to gm? >> i guess they can appeal to gm as well. >> i don't know if you have performance indicators moving forward on what you and your staff will be -- based on your pay, it is important there is transparency of your and knowing here that you are being compensated by gm, a think transparency is important. will you or your staff be paid based on a number of claims made or the number of that nature? >> absolutely not. the me talk...
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Jul 2, 2014
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, had the advantage of a new ceo not involved and she is showing that this is a new gm, not the old gm, this is not going to be stood for in the future. >> very quickly, alternative fuel sources, do you give toyota points because of the prius hybrid that reached mass appeal? do you think? >> absolutely. toyota has an advantage. the number one selling vehicle, if you're buying one, you're most likely going to buy a hybrid, i mean, a prius. there are other choices but they are number one in the mind set of a customer. >> thank you so much for joining us. >>> and so you just heard what our guest thinks. now we want to hear from you, which stock do you prefer? general motors or toyota. go vote on nbr.com. >>> the results from last week's global rivals challenge where we asked you to choose between general electric and seamons of germany. you picked ge. 64% of you voting for the u.s. based company. >> i think so far, there have been mostly votes for the u.s. companies. do you think there is a bias there? >> i wonder why. good job. >> that's "nightly business report" for tonight. thanks for
, had the advantage of a new ceo not involved and she is showing that this is a new gm, not the old gm, this is not going to be stood for in the future. >> very quickly, alternative fuel sources, do you give toyota points because of the prius hybrid that reached mass appeal? do you think? >> absolutely. toyota has an advantage. the number one selling vehicle, if you're buying one, you're most likely going to buy a hybrid, i mean, a prius. there are other choices but they are number...
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Jul 18, 2014
07/14
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>> in the courts i assume there is. >> any appeal to gm? >> they can appeal to gm as well. i want to ask about the comp patient. i don't know if your performance indicators moving forward on what you and yours as well have based underpaid. i think there's important to have comp patient transparency. knowing here you are being compensated by gm, transparency is important. will you or your staff be paid based on the number of claims made or the number of claims processed or anything of that nature? >> absolutely not. >> let me talk to you a little bit about bp because i know previous administrations of the bp oil spill the compensation fund did receive some criticism from some of the stakeholders that you're working for the oil companies interest instead of being independent. >> all say. >> how do we know you'll be independent in this case and be accountable to the terms legs >> first of all, as with bp coming you will recall when that criticism came my way, i asked former attorney general michael battisti of the bush administration to review my whole conference patient, the
>> in the courts i assume there is. >> any appeal to gm? >> they can appeal to gm as well. i want to ask about the comp patient. i don't know if your performance indicators moving forward on what you and yours as well have based underpaid. i think there's important to have comp patient transparency. knowing here you are being compensated by gm, transparency is important. will you or your staff be paid based on the number of claims made or the number of claims processed or...
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Jul 7, 2014
07/14
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gm sets a record that it doesn't want. the surprising reason the recalls don't seem to impact their sales and why it may be a good time to shop for a new car. the new trend in office ware is afoot. why sneakers are the new black. but will millennial choices translate into workplace success? interest rates on student loans go up this week but there may be ways you don't know about to get them forgiven. on the money starts right no"on. >>> look at what is making news. a strong jobs report the month of june. the unemployment rate fell to 6.1%. that was the best number since april of 2008. the economy created 288,000 jobs. that was better than economists had predicted. in fact, numbers for the previous two months were also revised upwards. all of that has pushed the dow above 17,000 in early trading on thursday. during the holiday-shortened week, the s & p 500 hit a fresh all-time high as well and the nasdaq hit a 14-year record. a stunning announcement from jpmorgan chase chairman ceo jamie dimon. he told employees and share
gm sets a record that it doesn't want. the surprising reason the recalls don't seem to impact their sales and why it may be a good time to shop for a new car. the new trend in office ware is afoot. why sneakers are the new black. but will millennial choices translate into workplace success? interest rates on student loans go up this week but there may be ways you don't know about to get them forgiven. on the money starts right no"on. >>> look at what is making news. a strong jobs...
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Jul 6, 2014
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the question is will this new fund help gm repair its image? joining me right now with more is reuters managing editor, paul ingracia and jessica caldwell from edmonds. thank you for both being here today. >> thank you, becky. >> paul, i would like to start with you. the compensation plan, you think this is the right way to go for gm? >> typically, general motors being the new company since they became out of bankruptcy does not have to compensate victims or families of victims for some of these claims but a public relations disaster for the company. so, they absolutely have to do this. i think one of the big issues here is going to be the fairly short window of time between august 1st and the end of the year when claimants have a chance to file. so, there may you can some complaining about that. there may be some pushback on that really from the families who have been affected by this. >> okay. so, we will hear more on that. but jessica, while we have been listening about the fund and hearing what's happening, seems just about every week, ther
the question is will this new fund help gm repair its image? joining me right now with more is reuters managing editor, paul ingracia and jessica caldwell from edmonds. thank you for both being here today. >> thank you, becky. >> paul, i would like to start with you. the compensation plan, you think this is the right way to go for gm? >> typically, general motors being the new company since they became out of bankruptcy does not have to compensate victims or families of...
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Jul 3, 2014
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either we get the numbers -- these are not gm numbers. these are numbers that our team of economists and modelers, economics, we came up with these numbers. economic -- $1 million for a death claim presumptive it may be more under the track but where did that come from? i'll come in 9/11 which was a long time ago, that number was $250,000 as an average settlement member for the law and economics law. that number today is $750,000 average. we decided the number should be higher and we went to $1 million. the layer in the joint and in texas and other lawyers as well and her colleagues all said if you are going to -- we don't have to take it but presumptively it ought to be more than that. the 300,000 is much more than 9/11 as the average also. now you also asked -- the second question about the silent for the condition, no such condition imposed on families at all. yes ma'am. >> poppy harlow with cnn again. looking at what you've done in the past with the orioles bill and 9/11, they are different in that it was very clear who died as a resu
either we get the numbers -- these are not gm numbers. these are numbers that our team of economists and modelers, economics, we came up with these numbers. economic -- $1 million for a death claim presumptive it may be more under the track but where did that come from? i'll come in 9/11 which was a long time ago, that number was $250,000 as an average settlement member for the law and economics law. that number today is $750,000 average. we decided the number should be higher and we went to $1...
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Jul 17, 2014
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they work at gm, they work only for gm, but they ee another gm employs. >> no, they're not. why is that? they don't work nr anybody else in this would but you. are they a subsidiary of your company. >>? >> not to my knowledge. >> so the people on the front lines gathering the information and handling these claims as they come in, i'm trying to understand for what business pirms would you want them to be separate from your company if they're completely captured by your company and dog nothing but a zb m function. >> they've been quite a jomt for is for some peej yo i've time. i dough no there are naples i'm familiar with, product litigators. they say they do a very guided guidedown. it's not unusual to take on others. for a long time we outsourced or security function. >> i think a security function is a little different. i whauns you're saying. if you can provide information as to why that biddle makes sense o is it unusual? my experience? obviously they have a lot lout of claims people. mr. valukas, you made a couple of diop p kohn clueses. i'm very familiar with your repor
they work at gm, they work only for gm, but they ee another gm employs. >> no, they're not. why is that? they don't work nr anybody else in this would but you. are they a subsidiary of your company. >>? >> not to my knowledge. >> so the people on the front lines gathering the information and handling these claims as they come in, i'm trying to understand for what business pirms would you want them to be separate from your company if they're completely captured by your...
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>> you have to ask gm what they will do if people comments out of this program. but accurate, under this program, voluntary, bankruptcy is not a bar, no aggregate cap or contributory negligence, if the driver was intoxicateed, speeding, texting on a cell phone that is irrelevant under this program, we're not even looking at driver's condition, file the claim, let's determine whether theic tpheugd ignition h caused accident. accident. neil: and exven if you file claim prior. >> if you settled a lawsuit with gm, before you knew about this ignition switch problem, rip up the release, file a new claim with me, you are eligible i'll make up the difference. neil: you want to do this in rapid fashion. >> within 90 days simpler claims, went 180 claims more come bleak claims and all claims must be submited to me between august 1 and december 31 of this year. as you know, we have talked about this. speed is essential, the critical component pop of thi of this prt can also lead, not on your part but sloppy things can get through, do you worry, this seems odd, a big company
>> you have to ask gm what they will do if people comments out of this program. but accurate, under this program, voluntary, bankruptcy is not a bar, no aggregate cap or contributory negligence, if the driver was intoxicateed, speeding, texting on a cell phone that is irrelevant under this program, we're not even looking at driver's condition, file the claim, let's determine whether theic tpheugd ignition h caused accident. accident. neil: and exven if you file claim prior. >> if...
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gm most of all. look there were forecasts out there from edmunds and other sales, sales will crater for this company. that is not what happened? why? >> no, no. the cars that are being sold in dealerships right now from general motors are exceptional. they're very strong product. gerri: except for the fact they stall out and people have died in them. that is small glitch in your rhining, my friend. >> no no. those were elder cars. those are cars like 10 years old on the recall list now for months. but -- gerri: they have also recalled some new, some newer vehicles. >> a smaller number of newer once. gerri: there have been some among the total. >> much smaller number. most people look at new cars and say, look, 10-year-old cars produced under 10-year-old general motors they're not same as modern gm and cars they're producing. plus the reaction gm had. mary barra has been extremely aggressive taking care of this issue. you look at what she's done. i don't know how much more you could have possibly done
gm most of all. look there were forecasts out there from edmunds and other sales, sales will crater for this company. that is not what happened? why? >> no, no. the cars that are being sold in dealerships right now from general motors are exceptional. they're very strong product. gerri: except for the fact they stall out and people have died in them. that is small glitch in your rhining, my friend. >> no no. those were elder cars. those are cars like 10 years old on the recall list...
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gm may not challenge it in court, gm may not reject it, gm may say that they think we made a mistake. that's fine, but they have to honor it. and they have to pay the claim. and they cannot refuse under the protocol to pay any final determination that we make on the grounds that it's a mistake. we heard you, gm, we respect your right to disagree. we've decided it, and that's the end of it. yes, yes, sir. you're with to who? >> [inaudible] several of the members of congress investigating gm have sort of taken an interest in the victim compensation fund. did you meet with any members of congress or did you brief any of them sort of on the final protocol? is. >> i met and briefed the most visible, i think, one of the most visible members of congress, senator blumenthal of connecticut. extraordinarily helpful. i met him personally with his staff. he had written a letter to the justice department urging compensation. i met with him. he expressed certain views about helping claimants and some suggestions that he hoped i would follow up on which i have, and i welcome any input or think sugge
gm may not challenge it in court, gm may not reject it, gm may say that they think we made a mistake. that's fine, but they have to honor it. and they have to pay the claim. and they cannot refuse under the protocol to pay any final determination that we make on the grounds that it's a mistake. we heard you, gm, we respect your right to disagree. we've decided it, and that's the end of it. yes, yes, sir. you're with to who? >> [inaudible] several of the members of congress investigating...
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sales at gm came in spite of deflects and massive recalls. >> a day after another massive recall, gm reported surprisingly strong sales. a modest 1% in june but with two fewer sales days than last year, gm says that equated to a 9% gain. the first love of the year the company said was its best retail sales performance since 2008. >> yesterday's headlines compared to today's headlines, i mean they completely paint a story of two different companies it almost seems. >> jessica caldwell is senior automotive analyst with edmunds.com. >> are you surprised that gm's reputation hasn't been affected by this. >> it is counter intuitive. you think there would be some backlash for sales. >> this year a recalled many of its cars. nearly half of the owners trading in a cobalt for a new car purchased another gm product. that's actually a higher loyalty rate than before the recalls. >> some people are just sticking by the brand. i mean they are doing a major safety review. and perhaps people think it may be a good time to buy general motors since they're not going to overlook any quality issue it s
sales at gm came in spite of deflects and massive recalls. >> a day after another massive recall, gm reported surprisingly strong sales. a modest 1% in june but with two fewer sales days than last year, gm says that equated to a 9% gain. the first love of the year the company said was its best retail sales performance since 2008. >> yesterday's headlines compared to today's headlines, i mean they completely paint a story of two different companies it almost seems. >> jessica...
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have gm lawyers told us everything.he fact that michael millikin, the lead counsel of gm, been brought the first time having to testify that's what we should focus on. we've heard from the ceo but this is important, gm settled a number of lawsuits with families for up to $5 million under michael millikin and did not tell the head of the company or superiors. and there are people that say that could have led them to know about this defect sooner and prevented deaths. that is going to be the focus of this. are you telling us everything? also the focus is going to be whether gm gave regulators all they had on the deadly crashes. "the new york times" reporter said they didn't. what does gm have to say about that? >> you can hear in the tone of the voice senators are using they're not convinced they're being told the hold story. the company has set up a compensation fund for victims offering at least a million dollars to the families of those who died, but the families have to give up their right to sue. are the families you
have gm lawyers told us everything.he fact that michael millikin, the lead counsel of gm, been brought the first time having to testify that's what we should focus on. we've heard from the ceo but this is important, gm settled a number of lawsuits with families for up to $5 million under michael millikin and did not tell the head of the company or superiors. and there are people that say that could have led them to know about this defect sooner and prevented deaths. that is going to be the...
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i will tell you there is a big roadblock to fighting gm in court. their 2009 bankruptcy gave them legal protection from any claims prooe-2009 so if victims or their families had crashes before 2009, that is the technically the old gm, they are going to face an up hill battle in court. gm just posted their best sales in june since 2007. >> oh, come on. you would think it would be working nothing. >> first of all, consumers are not focusing on the past with gm and these older cars. gm is building pretty strong cars right now and frankly recalls do not translate into hurting sales in the long term for these auto maker. important to our viewers, go to gm recall on our website, every single car is on that list. it's important to know if your car is and take it to get fixed right away. >> absolutely. thanks so much. >>> still to come to the "newsroom," a new and frightening picture that terrorists are making for iraq and its neighbors. is it propaganda or a new reality. we'll talk about that next. nineteen years ago, we thought, "wow, how is there no way
i will tell you there is a big roadblock to fighting gm in court. their 2009 bankruptcy gave them legal protection from any claims prooe-2009 so if victims or their families had crashes before 2009, that is the technically the old gm, they are going to face an up hill battle in court. gm just posted their best sales in june since 2007. >> oh, come on. you would think it would be working nothing. >> first of all, consumers are not focusing on the past with gm and these older cars. gm...
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Jul 17, 2014
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gm can't question it.o pay it. >> reporter: barra apologized for the company's failure and says the company stands by its pledge to compensate victims. >> i'm incredibly proud, it's the right thing to do and shows the focus for the customer. >> for the families left behind no amount of money brings their loved ones back. >> i still dream of my beautiful daughter as if she's alive. >> it took the lives of a lot of people needlessly and i don't want them to forget. >> a lot of the family members will be at the hearing today. also for the first time, the top lawyer at gm is going to testify. he's been at the company throughout this, and you can expect really tough questions for him from senators, including this, why did gm's legal department settle with families for up to $5 million for ignition switch death-related cases, but never apparently tell the highest levels of the company? i think that will be key in this hearing. lawmakers had a chance to question barra three thimz before but never had a chance to
gm can't question it.o pay it. >> reporter: barra apologized for the company's failure and says the company stands by its pledge to compensate victims. >> i'm incredibly proud, it's the right thing to do and shows the focus for the customer. >> for the families left behind no amount of money brings their loved ones back. >> i still dream of my beautiful daughter as if she's alive. >> it took the lives of a lot of people needlessly and i don't want them to forget....
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Jul 1, 2014
07/14
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BLOOMBERG
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when does it affect gm?> it seems that there are more fatalities that are caused by this kind of negligence, neglect on the part of the whole company . that is the stuff that really tarnishes them. we have seen the recalls in the last couple of years. ford and toyota have ramped up their recall machine to grab everything out there, and it is not hurting them, it is helping them in the market. by volume of numbers, probably not that bad, but if there are , and now that they , it hurts.to sell if you are a chevy person come you think of chevy but they do not necessarily associate with this company, gm, in detroit. >> the other key question, do you drive a ford truck or a gm truck? mark fields has taken over at ford for alan mulally. as i look at the bloomberg terminal, earnings are forecast to decline by 18%. what does mark fields need to do with ford starting today? >> the reason earnings are down is because they are spending so much on new vehicles, especially the f 150 with the aluminum body. that is the dr
when does it affect gm?> it seems that there are more fatalities that are caused by this kind of negligence, neglect on the part of the whole company . that is the stuff that really tarnishes them. we have seen the recalls in the last couple of years. ford and toyota have ramped up their recall machine to grab everything out there, and it is not hurting them, it is helping them in the market. by volume of numbers, probably not that bad, but if there are , and now that they , it hurts.to sell...
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Jul 10, 2014
07/14
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FBC
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gm recall, how safe are we?t on the deadly recall and how it affects everyone on the road. also, victim families are here. >> why compensation can bring my daughter back? >> they should be held accountable. gerri: should they take the compensation or press on with criminal case? we have exclusive demonstration that you will only see here. >> stay relaxed. it is very simple to restart the car. gerri: we'll investigate the national highway
gm recall, how safe are we?t on the deadly recall and how it affects everyone on the road. also, victim families are here. >> why compensation can bring my daughter back? >> they should be held accountable. gerri: should they take the compensation or press on with criminal case? we have exclusive demonstration that you will only see here. >> stay relaxed. it is very simple to restart the car. gerri: we'll investigate the national highway
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Jul 25, 2014
07/14
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ALJAZAM
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news that has pushed gm out of the spotlight.other companies like toyota and chrysler making their own recalls. so gm is not standing alone. and that helps as well. and then the last thing is that capitalism isn't always efficient. you want the people who screw up to be punished quickly, but if you are one of the thousands of employees at gm you are glad you are getting a break right now. >> we saw auto debt is at its highest. this is a good time for the auto industry, and maybe gm is reaping some of the benefits. a lot of their sales are still fleet sales, rental companies, and companies that buy a lot of cars. >> that's right. and we have seen unprecedented auto lending. you are seeing auto loans extended as long as seven years. the interest rates are incredibly low, and that makes it more appealing for customers to buy cars. they are thinking what are the chances that this car will be recalled? this >> that's interesting. americans are americans for a reason. heidi always a pleasure to see you. >> thank you. >>> general motors
news that has pushed gm out of the spotlight.other companies like toyota and chrysler making their own recalls. so gm is not standing alone. and that helps as well. and then the last thing is that capitalism isn't always efficient. you want the people who screw up to be punished quickly, but if you are one of the thousands of employees at gm you are glad you are getting a break right now. >> we saw auto debt is at its highest. this is a good time for the auto industry, and maybe gm is...
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Jul 6, 2014
07/14
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CNBC
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gm sets a record that it doesn't want. the surprising reason those recalls don't seem to impact the sales and why it may be a good time to shop for a new car. the trend trend in office wear is afoot. will millennial chances turn? there may be ways you don't know about to get them forgiven. on the money starts right now. >>> here's a look at what's makes news. a strong jobs report for the month of june. the unemployment rate fell to 6.1%. the best number since april of 2008. the economy created the 288,000 job. numbers from the previous two months were revised upwards. all pushing the dow above 17,000 on thursday. during the holiday shortened weekend the s&p 500 hit a fresh all time high as well and the nasdaq hit a 14-year record. a stunning announcement from jpmorgan. telling shareholders that he has throat cancer but he says it was caught early and hasn't spread and is curable. home sales hitting a high in may. the index is based on contracts signed last month and increase by 6.1%. a strong jobs report. a decent first ha
gm sets a record that it doesn't want. the surprising reason those recalls don't seem to impact the sales and why it may be a good time to shop for a new car. the trend trend in office wear is afoot. will millennial chances turn? there may be ways you don't know about to get them forgiven. on the money starts right now. >>> here's a look at what's makes news. a strong jobs report for the month of june. the unemployment rate fell to 6.1%. the best number since april of 2008. the economy...
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Jul 21, 2014
07/14
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CSPAN2
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gm failed to understand how its cars were built. incredibly the official findings pin the blame on the delay to recall this car on the fact that gm didn't understand how its own car was built. second, the same engineer who approved the original ignition switch change the part in 2006 and did not inform any person at gm and did not change the part number. people died and millions more were put at risk because gm didn't understand its own car. and one engineer cut corners and then change the to work on the part without telling anybody, or again changing the model number. 54 frontal impact crashes and more than a dozen fatalities later, we find ourselves here this morning for a second hearing on this issue. it is truly a dark chapter in the history of general motors. what we need to do today to make sure that the valukas report is the full story. is the valukas report accurate? is that the defendants account of this matter, or are there missing pieces? and ceo of delphi is with us today and it's my hope he will help the subcommittee un
gm failed to understand how its cars were built. incredibly the official findings pin the blame on the delay to recall this car on the fact that gm didn't understand how its own car was built. second, the same engineer who approved the original ignition switch change the part in 2006 and did not inform any person at gm and did not change the part number. people died and millions more were put at risk because gm didn't understand its own car. and one engineer cut corners and then change the to...
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Jul 6, 2014
07/14
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KTVU
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brian sabean, longest tenure gm in baseball. the pads will be on their fourth different gm in an eight-season span. when a successor to josh burns is identified. fly ball out to right. hunter pence under it to retire the side. last chance. a tough one to get through in the ninth. andale, ya llegaron tus amigos. ♪ ♪ play "peel, play, olé, olé" from mcdonald's. ¡!¡luis!!! ¡!¡papá!!! and you could win instant prizes, soccer trips, and more! there's something new to love at mcdonald's. to makthe avenues,ards, the concrete, chaos and congestion we call civilization easier to navigate, we made the all-new jeep cherokee. with blind spot monitoring, forward collision and lane departure warning. because even a restless mind, needs peace of mind. right now, get 0% financing on the all-new 2014 jeep cherokee. [ crowd gasps ] [ crowd gasps ] [ male announcer ] if you're on a diet of taking it up a notch, drink diet dew. the only diet with dew in it. (nervous) (screaming) "never again grace elizabeth" life insurance from new york life can he
brian sabean, longest tenure gm in baseball. the pads will be on their fourth different gm in an eight-season span. when a successor to josh burns is identified. fly ball out to right. hunter pence under it to retire the side. last chance. a tough one to get through in the ninth. andale, ya llegaron tus amigos. ♪ ♪ play "peel, play, olé, olé" from mcdonald's. ¡!¡luis!!! ¡!¡papá!!! and you could win instant prizes, soccer trips, and more! there's something new to love at...
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Jul 1, 2014
07/14
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CSPAN
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gm that arose. it is not simply the defect itself but the context in which it arose. they have decided, this is the limitation of the authority i have on the program. >> will you make a public accounting of your findings and how many claims approved and nied and pay youths -- payouts? >> absolutely. it gets tricky. at the end of the program, as we always do, we will have an audit, an executive summary, how many claims were eligible, in, aggregate dollars, etc.. we have to be careful we do not disclose at any time the confidential submissions of families. they do not want officials to know they filed or how much money they receive. we found out all these programs, 9/11 and other programs, that in order to maximize participation, confidentiality is critical and many people just do not want that information enclosed. let me say another thing before i forget that i neglected to say. a tip of the hat to the center of autosave the, joan and clarence. the number one issue with us was noticed. how do you re
gm that arose. it is not simply the defect itself but the context in which it arose. they have decided, this is the limitation of the authority i have on the program. >> will you make a public accounting of your findings and how many claims approved and nied and pay youths -- payouts? >> absolutely. it gets tricky. at the end of the program, as we always do, we will have an audit, an executive summary, how many claims were eligible, in, aggregate dollars, etc.. we have to be careful...
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if the payments get out of hand, no gm?ding out resumes after watching your interview. feinberg seems like a decent enough time, i don't think he'd bite the hand that feeds his firm. you don't know him that well. why am i thinking feinberg is in too much of a rush. nefarious characters can get into that, and when ken was overseeing the $20 billion bp oil disaster fund and many failed. claire writes, how convenient of you to leave out his compensation arrangement with gm. how convenient of you to not know that i did try. he made clear it's similar to bp services and how firm was paid. i think a few million bucks, a fraction of the $20 billion plus bp fund to which he was in charge. what would mr. feinberg due if gm was toyota? band from the usa. nobody died with the toyota bs. in fact, people did die in the toyota case that you mentioned. at least 33 deaths were ultimately tied to gas pedal issues dating back to 2000. and talk about not length go, wayne in texas, i'm sorry, neil, every time i try to watch you, my thoughts ha
if the payments get out of hand, no gm?ding out resumes after watching your interview. feinberg seems like a decent enough time, i don't think he'd bite the hand that feeds his firm. you don't know him that well. why am i thinking feinberg is in too much of a rush. nefarious characters can get into that, and when ken was overseeing the $20 billion bp oil disaster fund and many failed. claire writes, how convenient of you to leave out his compensation arrangement with gm. how convenient of you...
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all through gm claims to compensate victims and families.feinberg, the expert hired by gm said under its plan any driver or pedestrian involved in an ignition-related crash is eligible. >> we have fund without any cap on the aggregate amount of money that's going to be available. gm basically has said whatever it costs to pay all eligible claims under the protocol, they will pay it there is no ceiling. >> feinberg is expecting thousands of claims of compensation for fatalities starting at $1 million. >>> french bank bnp paribas is expected to plead guilty in federal court as early as today for money laundering. yesterday agreed to pay a fine of almost $9 million. bnp also agreed to suspend it's so-called dollar clearing operations in the u.s. through 2015. >> the national association of realtors said home sales rose 6% last month. the biggest month to month gain since 2010. the dow lost 26 points the nasdaq rose 130i7b9s. >> and a big change at the associated press. the wire service said that a computer program will now write most of its cor
all through gm claims to compensate victims and families.feinberg, the expert hired by gm said under its plan any driver or pedestrian involved in an ignition-related crash is eligible. >> we have fund without any cap on the aggregate amount of money that's going to be available. gm basically has said whatever it costs to pay all eligible claims under the protocol, they will pay it there is no ceiling. >> feinberg is expecting thousands of claims of compensation for fatalities...
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Jul 1, 2014
07/14
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KPIX
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gm is re-calling another round of vehicles once again for faulty ignition switches. covers at least 7.6 million cars in the u.s. dating back to 1997. it includes the chevy malibu, the pontiac grand prix and the cadillac cts. three deaths, eight injuries and seven crashes in the last recalls. also yesterday, gm announced plans to compensate victims and families of the first ignition switch recall. ken feinberg, the expert hired by gm said under its plan any driver or pedestrian involved in an ignition-related crash is eligible. >> we have funding that without any cap on the aggregate amount of money that's going to be available, gm basically has said whatever it costs to pay all eligible claims under the pr protocol, they will pay it. there is no ceiling. >> feinberg is expecting thousands of claims of compensation for fatalities starting at $1 million. >>> french bank bnp paribas is expected to plead guilty in federal court as early as today for charges of money laundering. yesterday agreed to pay a fine of almost $9 million. for violating u.s. sanctions against coun
gm is re-calling another round of vehicles once again for faulty ignition switches. covers at least 7.6 million cars in the u.s. dating back to 1997. it includes the chevy malibu, the pontiac grand prix and the cadillac cts. three deaths, eight injuries and seven crashes in the last recalls. also yesterday, gm announced plans to compensate victims and families of the first ignition switch recall. ken feinberg, the expert hired by gm said under its plan any driver or pedestrian involved in an...
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Jul 1, 2014
07/14
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CNBC
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another day, another gm recall. the automaker is announcing six new recalls covering 8.4 million vehicles worldwide covering vehicles from 2007 to 2014. gm is acquire of seven crashes, eight injuries and three deaths. they're being recalled for ignition switch issues. gm will take up to $1.2 billion in the second quarter of charges. expanding its recall by nearly 700,000. adding the older model of the dodge cara van and the dodge journey crossover. shares in the german trading session right now, up 2.7%. >>> still to come on the show, a record find at 2013 levels. what am i talking about? this is the worst of the storm. as it now passed to bnp paribas? we're live in paris after the break. ng too hiringime and not enough time in my kitchen. [ female announcer ] need to hire fast? go to ziprecruiter.com and post your job to over 30 of the web's leading job boards with a single click; then simply select the best candidates from one easy to review list. you put up one post and the next day you have all these candidates.
another day, another gm recall. the automaker is announcing six new recalls covering 8.4 million vehicles worldwide covering vehicles from 2007 to 2014. gm is acquire of seven crashes, eight injuries and three deaths. they're being recalled for ignition switch issues. gm will take up to $1.2 billion in the second quarter of charges. expanding its recall by nearly 700,000. adding the older model of the dodge cara van and the dodge journey crossover. shares in the german trading session right...