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Mar 18, 2014
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or should mary barra throw him under the bus? wagoner, famously flew a private plane to the bankruptcy hearings in washington. adam: i was there for that. >> this is under his watch. shouldn't throw him under the bus but he has a real problem with congress. he has to let the investigation take its to. when it is -- take its toll. when it is through the facts should speak for themselves and that should be the end of it. adam: would rick wagoner summoned to gm headquarters and 20 million-dollar pension he kept after the bankruptcy and explain what went wrong. >> she has to find out, adam, who did what, when, and most specifically why we didn't recall these cars when we knew that ignition was faulty. he and the executives at the time have a lot to answer to. adam: in regards to perfume on a skunk i used to have a dog who got skunked when we lived in cleveland, perfume down work. dishwashing soda. >> sorry to hear that. >> thank you very much. cheryl: lipstick on a pig doesn't work either? adam: no. haven't gotten there yet. cheryl:
or should mary barra throw him under the bus? wagoner, famously flew a private plane to the bankruptcy hearings in washington. adam: i was there for that. >> this is under his watch. shouldn't throw him under the bus but he has a real problem with congress. he has to let the investigation take its to. when it is -- take its toll. when it is through the facts should speak for themselves and that should be the end of it. adam: would rick wagoner summoned to gm headquarters and 20...
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Mar 12, 2014
03/14
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. >> newly appointed mary barra has retained a lawyer to spearhead an internal probe into the recall.ut the controversy is blurring the line between the old gm and the image the company has been trying to craft since . >> they are going to look into it, and the meltons are hopeful that the truth will come out. >> in a letter to employees mary barra promised th the internal review about the recall as an untarnished report. they have learned the hard way that it pays to keep drivers safe. 18 automakers issued 184 recalls according to the highway traffic administration. now one could argue the industry is quick to issue recalls to reveto regulator investigation not to mention trial lawyers. matt said general motors is facing a defining moment, what do you mean by that, matt? >> i think it's a question of trust. in light of the bailout gm has an opportunity here to show how it's going to handle these cases in the future. i think that's one of the issues on the table here. as mary barra promised a full and unvarnished report, they need to do that to establish that link of trust. certainly
. >> newly appointed mary barra has retained a lawyer to spearhead an internal probe into the recall.ut the controversy is blurring the line between the old gm and the image the company has been trying to craft since . >> they are going to look into it, and the meltons are hopeful that the truth will come out. >> in a letter to employees mary barra promised th the internal review about the recall as an untarnished report. they have learned the hard way that it pays to keep...
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Mar 18, 2014
03/14
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BLOOMBERG
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as scrutiny intensifies, ceo mary barra is stepping up.he created a global vehicle safety position and promoted an executive to run this group. she posted this video on the company website. >> we have to latch to cooperate while we work to make the recall as smooth as possible. something went wrong with our process and terrible things happen. as a member of the gm family and a mom with a family of my own, this hits home for me. we have apologized, but that is just one step to resolve this. we mailed recall letters to owners on march 10 and 11. we will send a bulletin to dealers the week of april 7. we will send follow-up letters to customers to let them know parts are available. we are adding a second production line and our supplier to double parts availability. we are completely focused on the problem at the highest levels of the company. we are putting the customer first and that is guiding every decision we make. that is how we want today's gm to be judged. our system is going to change because of this. we're using this opportunity to
as scrutiny intensifies, ceo mary barra is stepping up.he created a global vehicle safety position and promoted an executive to run this group. she posted this video on the company website. >> we have to latch to cooperate while we work to make the recall as smooth as possible. something went wrong with our process and terrible things happen. as a member of the gm family and a mom with a family of my own, this hits home for me. we have apologized, but that is just one step to resolve...
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Mar 19, 2014
03/14
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mary barra, named c.e.o.n january the 15th says the company is conducting an internal investigation. it will take sepp months. she -- seven months, she did not say if families will be compensated for thoroughs kill. >> investigators are trying to work out what caused a tv helicopter to crash in seattle. it happened after the komo helicopter took off in seattle. two people on board - the pilot and photo journalist - were killed. two cars and a pick-up truck, with a driver hospitalised. >> the new york mayor will re-examine the helicopter pad arrangements. >> coming up, men who fought for our country but denied medals are being recognised. >> changes to major league baseball in time for opening day. new rules protecting catchers from injury. >> welcome back. as the 2014 baseball season gets underway major league players will have to adapt to a rule aimed at increasing player safety. michael eaves has more on the changes. >> it's been called the most sacred part of the game - home plate. it's where every hitter
mary barra, named c.e.o.n january the 15th says the company is conducting an internal investigation. it will take sepp months. she -- seven months, she did not say if families will be compensated for thoroughs kill. >> investigators are trying to work out what caused a tv helicopter to crash in seattle. it happened after the komo helicopter took off in seattle. two people on board - the pilot and photo journalist - were killed. two cars and a pick-up truck, with a driver hospitalised....
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Mar 18, 2014
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this is the first time we're hearing from mary barra, why did she do this and how effective do you think she was in this public statement? >> you know, suzy, i think she was fairly effective. i wouldn't call this a home run but certainly had to do something and it was effective from the stand point they are trying to get in front of the story instead of reacting several hours, maybe a couple days after revelations come out. general motors put out these three recalls and mary barra was fairly forthright saying this is the beginning of more revelations. >> i want you to know that we're completely focused on the problem at the highest levels of the company and putting the customer first and that is guiding every decision we make. >> that's just one of the comments we heard from mary bar barra. this was an internal message sent to the employees but posted on the website. it was also meant for outside consumption. a good first step, not a home run but important step to make the public aware they realize the severity of the situation. >> as you pointed out, phil, three more gm recalls. is this
this is the first time we're hearing from mary barra, why did she do this and how effective do you think she was in this public statement? >> you know, suzy, i think she was fairly effective. i wouldn't call this a home run but certainly had to do something and it was effective from the stand point they are trying to get in front of the story instead of reacting several hours, maybe a couple days after revelations come out. general motors put out these three recalls and mary barra was...
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Mar 18, 2014
03/14
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>> couldn't answer a lot them today, mary barra, in the meeting she had with reporters.did she know and she learned about this problem in december. she will testify to congress whenever she is called. should know about that later this week. she didn't say whether they would claim bankruptcy immunity for the stuff that happened before bankruptcy. at this point she said no one has been fired at this time. here are some quotes from mary barra, just to print reporters, not appearing before the cameras today. she did extend her deep could condolences to all the family loss, at least 12 we know of. we'll take every step to make sure it never happens again. there will be no sacred cows in the investigation. clearly she said this took too long. one of the families she apologized too was the victim of a crash of a chevy cobalt. this is the first one we know of in 2005 in maryland. the girl that died, 11 years old. she, i should point out was not wearing a seatbelt. was legally drunk at the time. and was going 69 miles-an-hour in 25 miles-an-hour zone. despite that airbags did not
>> couldn't answer a lot them today, mary barra, in the meeting she had with reporters.did she know and she learned about this problem in december. she will testify to congress whenever she is called. should know about that later this week. she didn't say whether they would claim bankruptcy immunity for the stuff that happened before bankruptcy. at this point she said no one has been fired at this time. here are some quotes from mary barra, just to print reporters, not appearing before...
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Mar 31, 2014
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mary barra has been with general motors her entire career. by the way when our tax dollars were going to save general motors, i was a remarkable public advocate of this. but to get that taxpayer money they kept their mouths shut. i hope we get to the bottom of this. >> because ali i remember there were people lined up to say this is good money after bad, that is a bad company, it doesn't necessarily make a good product right now. that was part of the argument -- >> and the only thing that works in their favor, it's not really working in their favor, it's just that some of these recalls are from cars that are older than when that debate was taking place in 2008 and 2009. when that's the excuse that saves you that's pretty bad. >> what else are you working for often your program? >> the obamacare deadline, tonight, but people have had problems, we'll talk about whether these extensions hef you, what the penalties are how to make a better decision before midnight. >> ali velshi, good to see you ali. thank you. >>> new rules to improve road safet
mary barra has been with general motors her entire career. by the way when our tax dollars were going to save general motors, i was a remarkable public advocate of this. but to get that taxpayer money they kept their mouths shut. i hope we get to the bottom of this. >> because ali i remember there were people lined up to say this is good money after bad, that is a bad company, it doesn't necessarily make a good product right now. that was part of the argument -- >> and the only...
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Mar 31, 2014
03/14
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moving to mary barra and questions she is going to get.written testimony came out. she said she still doesn't know why the recall didn't take place sooner on these ignition problems. she will be asked why? she says the cars are safe to drive. but as dave you pointed out a judge in texas will rule on emergency motion to say, no, they're not safe. get them off the road. she said today, gm would do the right thing. does that mean they will recompense, people, victims of these crashes that took place prebankruptcy, which they theoretically shielded from? speaking of insulated, the gm culture we are learning insulated the ceos from this recall question. they didn't even get to the ceo's, according to the gm's own admission. what about that? she will get questions on that as well. take a look at the quote from the, from the letter, or should say from the printed testimony that mary barra will make tomorrow. she said the former u.s. attorney will have free rein to go where the facts take him in terms of their, in terms of his internal investigati
moving to mary barra and questions she is going to get.written testimony came out. she said she still doesn't know why the recall didn't take place sooner on these ignition problems. she will be asked why? she says the cars are safe to drive. but as dave you pointed out a judge in texas will rule on emergency motion to say, no, they're not safe. get them off the road. she said today, gm would do the right thing. does that mean they will recompense, people, victims of these crashes that took...
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Mar 29, 2014
03/14
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. >> mary barra will be testifying before congress this week, tuesday and wednesday.do you think we're going to expect to hear from her? she's just too much on the job, which doesn't mean anything, but she's got to take this on. >> exactly. but she did have other roles at gm prior to her taking on the role of ceo. we've seen these congressional hearings and a lot of it is political theater. but it is interesting to see how she will address these concerns, especially why the company took ten years to take action and largely surrounding ignition controls where the car turns to off and that impacts air bag, braking and steering. >> i want to talk to you a little bit more about the replacement ignition parts on the way. but let me pop up on the screen the list of the new gm recalls regarding pick up trucks. this is over the transmission cooling line recall. so take a look again to see if your truck is on this list. those replacement ignition parts are on the way. in the meantime, are people to stop driving their cars? >> here is the thing, gm has not said that people shou
. >> mary barra will be testifying before congress this week, tuesday and wednesday.do you think we're going to expect to hear from her? she's just too much on the job, which doesn't mean anything, but she's got to take this on. >> exactly. but she did have other roles at gm prior to her taking on the role of ceo. we've seen these congressional hearings and a lot of it is political theater. but it is interesting to see how she will address these concerns, especially why the company...
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Mar 28, 2014
03/14
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they said yes. >> mary barra arrived in the office just last month and now she has to deal with this issue. the careful what you wish for, right? a big deal being the ceo. she created a commission for the sole purpose of improving gm's city record as well as its procedures. the man she named to the decision has been at gm since the 1970's. are there any safety practices -- >> we are renewing our commitment to the safety to the satisfaction of our customers. we are taking full accountability for the problems that led to this recall. >> ok, here is another question -- what can he do to help the gm improve its reputation after this recall? >> first and foremost, if you look at our vehicles, they have a very strong safety record. our vehicles enjoy the recommendation of 5-stars, highway institute, top safety picks, "consumer reports" best buy. we build on that going forward. what we need to do is the fire process and make the processes more visible, more manageable, so that when issues are identified, we can resolve them quickly and take appropriate action with our customers. >> ok, ther
they said yes. >> mary barra arrived in the office just last month and now she has to deal with this issue. the careful what you wish for, right? a big deal being the ceo. she created a commission for the sole purpose of improving gm's city record as well as its procedures. the man she named to the decision has been at gm since the 1970's. are there any safety practices -- >> we are renewing our commitment to the safety to the satisfaction of our customers. we are taking full...
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Mar 31, 2014
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. >> general motors mary barra will face tough questioning from lawmakers. congress has been combing through thousands of pages of documents from gm and the highway traffic safety administration. house and senate want to know how executives at the nation's biggest automaker can say they knew nothing about the ignition problem, and why they waited a decade to respond. congress is wandering what the highway traffic administration, which analyses the problem, new about it, and what they did about it. a memo released sunday by house investigators indicates that the highway safety regulators declined to open a formal investigation into the gm ignition even after receiving field reports and complaints about the problems. ignition suppliers told gm in 2002, before the vehicles hit the road that the system didn't meet automakers speck. top executives new nothing about the switches until january 31st of this year. the company did not issue a first recall of 620,000 vehicles until february 10th. two weeks later it recalled an additional 748,000 vehicles. on friday, it
. >> general motors mary barra will face tough questioning from lawmakers. congress has been combing through thousands of pages of documents from gm and the highway traffic safety administration. house and senate want to know how executives at the nation's biggest automaker can say they knew nothing about the ignition problem, and why they waited a decade to respond. congress is wandering what the highway traffic administration, which analyses the problem, new about it, and what they did...
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Mar 31, 2014
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indeed, tomorrow, mary barra will be testifying on the hill at 2:00 p.m. that is our time.ill be carrying it live here on "street signs." >>> couple dozen people are still displaced after this weekend's 5.1 earthquake in orange county, california. it's got residences and businesses worried, perhaps a dormant fault has been awakened. jane wells is near the epicenter in fullerton, california. >> reporter: i'm not kidding, 30 seconds ago we had another aftershock. felt like a subway going under the street. wasn't strong but enough to look at each other, like did you feel that. a few minutes ago, the inspectors arrived from the city, to look at some of the houses. we have video of that. they are at this house next to me trying to determine if the houses they have red-tagged are now safe to inhabit. they are being inhabited whether red-tagged or not. broken dishes may be easier to fix than rattled nerves as friday's quake was a little unusual because most people were awake. it happened at 9:00 at night. usually these things for no particular reason happen in the morning. a few s
indeed, tomorrow, mary barra will be testifying on the hill at 2:00 p.m. that is our time.ill be carrying it live here on "street signs." >>> couple dozen people are still displaced after this weekend's 5.1 earthquake in orange county, california. it's got residences and businesses worried, perhaps a dormant fault has been awakened. jane wells is near the epicenter in fullerton, california. >> reporter: i'm not kidding, 30 seconds ago we had another aftershock. felt...
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Mar 11, 2014
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were before because everyone is looking at this company with a microscope after bankruptcy, and mary barra, there is so much watching her there is a lot being reported on. >> do you agree, this is something that gm is handling in a transparent way? >> if general motors didn't issue it's first recall in january, in hope to get by with that, then only a week later announce gee, later, there is another 7,000 people and there are 13 deaths not the six or seven that we thought, that one-week period showed the same gm that we've seen for a long time. they're unwilling to be transparent and to come clean. are they clean this time? are we going to learn more? i think we are going to learn more as the details come out. they've known about it, and there is ample evidence of it, and this falls squarely on their shoulders. >> you said that it looked like mary barra is handling this pretty well. is this a real stumble on the road to recovery for her company? >> i think it's only going to be a stumble if she changes course and starts handling it differently. i'll disagree with shawn on whether they're h
were before because everyone is looking at this company with a microscope after bankruptcy, and mary barra, there is so much watching her there is a lot being reported on. >> do you agree, this is something that gm is handling in a transparent way? >> if general motors didn't issue it's first recall in january, in hope to get by with that, then only a week later announce gee, later, there is another 7,000 people and there are 13 deaths not the six or seven that we thought, that...
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Mar 12, 2014
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liz: will your request somebody like mary barra?we don't know who we will call to talk but we will find that communication and decision making to make sure they answer to the public simic chairman of the oversight and investigations subcommittee. please join as again when there are more developments. what does this mean the? and more importantly what do investors do now? had to put into another car company? right now tiny toy car founder and steve told nicholas automotive researcher vp. what you think has happened? what should they do? >> right now mary barra makes the right choices as a public perception. the bigger issue of legal liability is something that will be up in the air this is such that the gm corporation has bankruptcy that mary barra is the ceo with legal liability you have to question that is a good investment choice. liz: so you tell inveetors to sit tight? >> every time we see a fire happening on board the stock will dip then go on board is that the case? >> what makes us different we don't know when and where or wh
liz: will your request somebody like mary barra?we don't know who we will call to talk but we will find that communication and decision making to make sure they answer to the public simic chairman of the oversight and investigations subcommittee. please join as again when there are more developments. what does this mean the? and more importantly what do investors do now? had to put into another car company? right now tiny toy car founder and steve told nicholas automotive researcher vp. what...
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Mar 19, 2014
03/14
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mary barra said she's creating a flew position of global safety director. much of this centers on how the company quietly changed the design of a flawed ignition switch. the decision that may have been the difference between life and death. nbc's gabe gutierrez has our report from detroit. >> our whole lives were changed in the blink of an eye. >> reporter: the night brooke melton died, her dad made a promise. >> i whispered, brooke, i will vindicate your accident, because i knew it was not her fault. >> reporter: the 29-year-old was driving her '05 cobalt when the black box data shows the ignition abruptly shut down. mark hood testified for the family in its suit against gm, which ultimately was settled for an undisclosed amount. he says the faulty ignition slipped out of run because of this critical part called a plunger. >> this is the spring loaded plunger that holds the switch in position. >> reporter: it fits into each slot, holding the ignition switch in run or accessory. the problem is, hood says, this tiny part in recalled vehicle was too short, ma
mary barra said she's creating a flew position of global safety director. much of this centers on how the company quietly changed the design of a flawed ignition switch. the decision that may have been the difference between life and death. nbc's gabe gutierrez has our report from detroit. >> our whole lives were changed in the blink of an eye. >> reporter: the night brooke melton died, her dad made a promise. >> i whispered, brooke, i will vindicate your accident, because i...
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Mar 18, 2014
03/14
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. >>> also, how is gm's ceo mary barra handling the recall controversy. it's.i been linked to a dozen deaths. you don't want to miss what kevin o'leary and marcus lemonis have to see. plus some new developments out of gm. stay tuned for all of that. >>> you can catch more of kevin o'leary on tonight's "shark tank" marathon at 8:00 p.m. eastern and catch marcus lemonis on a new episode of "the profit" at 10:00 p.m. eastern time on cnbc. stay tuned. stay tuned. announcer: where can an investor be a name and not a number? scottrade. ron: i'm never alone with scottrade. i can always call or stop by my local office. they're nearby and ready to help. so when i have questions, i can talk to someone who knows exactly how i trade. because i don't trade like everybody. i trade like me. that's why i'm with scottrade. announcer: ranked highest in investor satisfaction with self-directed services by j.d. power and associates. no two people have the same financial goals. pnc investments works with you to understand yours and helps plan for your retirement. talk to a pnc inve
. >>> also, how is gm's ceo mary barra handling the recall controversy. it's.i been linked to a dozen deaths. you don't want to miss what kevin o'leary and marcus lemonis have to see. plus some new developments out of gm. stay tuned for all of that. >>> you can catch more of kevin o'leary on tonight's "shark tank" marathon at 8:00 p.m. eastern and catch marcus lemonis on a new episode of "the profit" at 10:00 p.m. eastern time on cnbc. stay tuned. stay...
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Mar 24, 2014
03/14
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KICU
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mary barra, will field questions from a congressional commitee investigating "why" it took years for the automaker to report an "ignition switch" defect. 1.6 mllion cars were recalled last month. the defect is linked to 12 deaths. barra vows to release an "unvarnished" report. also next month-- the senate will investigate possible tax evasion by caterpillar. a committee will determine whether caterpillar avoided taxes by moving profits overseas and deferring payment to the u-s. bloomberg reports-- the company has received notices from the irs, which contends cat owes additional federal taxes. the equipment maker denies any wrongdoing an appeals court is sticking with the federal reserve's rules to cap "swipe fees" at 21 cents. swipe fees passed on to retailers are set by visa, mastercard, banks and other card companies. before the cap -- fees averaged 44 cents per swipe. retailers were pushing for a fee limit lower than 21 cents. the court rulling is viewed as a "win" for banks. bond trading is yielding questions from regulators. the sec is curious about the way bond brokers show pri
mary barra, will field questions from a congressional commitee investigating "why" it took years for the automaker to report an "ignition switch" defect. 1.6 mllion cars were recalled last month. the defect is linked to 12 deaths. barra vows to release an "unvarnished" report. also next month-- the senate will investigate possible tax evasion by caterpillar. a committee will determine whether caterpillar avoided taxes by moving profits overseas and deferring...
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Mar 19, 2014
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KICU
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on monday its ceo mary barra admitted the company had mishandled safety complaints years ago. yesterday she announced, effective immediatly, a new position is being created that will oversee global vehicle safety. kevin paul scott, he's the author of "8 essential exchanges" he joins us now via skype -- you're a management consultant...how would you assess her early days in the driver's seat at gm? > > i think miss barra has taken the reins of this company on january 15th and is bringing in a new day for gm. a day that is about transparency and she really is reversing course and getting out ahead of these issues. > > so you say reversing course, so before it was more stonewall but her style is to be open? > > absolutely gm in the past has tried to delay and deny-- they've known about these issues for a long time. they have taken approach similar to what target was taking during the holiday season which was trying to downplay these the seriousness of this and she is really reversing course and saying we're going to be honest, we're going to be open, and we're going to get out in
on monday its ceo mary barra admitted the company had mishandled safety complaints years ago. yesterday she announced, effective immediatly, a new position is being created that will oversee global vehicle safety. kevin paul scott, he's the author of "8 essential exchanges" he joins us now via skype -- you're a management consultant...how would you assess her early days in the driver's seat at gm? > > i think miss barra has taken the reins of this company on january 15th and is...
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Mar 31, 2014
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clearly gm has decided that mary barra should apologize personally here.so going to see some of the family members of victims of this ignition switch malfunction on capitol hill tomorrow so we can expect an emotional day up on capitol hill and lawmakers really probing for some questions here as well. >> thanks very much. is the constant drum beat of disturbing news out of gm giving shoppers pause? >> let's bring in andrew keen, founder of keen on the market.com and itie. you remain optimistic they will pull through. >> i would agree that the risk of short-term market share losses have increased with the escalation over this past weekend. we have to keep an eye on that. we look at past recalls, usu usually. in the last week of march, the last week several perception metrics for gm improved from the third week where they took a major dip. a lot depends on what will happen tomorrow, but typically we don't think these types of share losses in the near term typically sustain with recalls. if you look what the stock has down. you mentioned down 15%. it seems to
clearly gm has decided that mary barra should apologize personally here.so going to see some of the family members of victims of this ignition switch malfunction on capitol hill tomorrow so we can expect an emotional day up on capitol hill and lawmakers really probing for some questions here as well. >> thanks very much. is the constant drum beat of disturbing news out of gm giving shoppers pause? >> let's bring in andrew keen, founder of keen on the market.com and itie. you remain...
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Mar 31, 2014
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we are very hopeful the comments mary barra has made indicate they are going to take -- lives lost, peopleing loved ones in terrible accidents, very seriously, and make a change that cost them $10 -- >> do you agree with matt that mary can be part of the new culture change? she is old school gm. she has said a lot of very positive things that we hadn't heard before from heads of companies, heads of car companies. she said something went terribly wrong. we applaud that. she is saying we are going to get to the bottom of this. and she is talking about pulling together a $3 billion fund. bailed out, they got all their liabilities wiped away. that is unconscionable, since they knew there were many problems in preceding years. it is very important they put together a fund, given they got a bailout that gave them liability waivers. an outsideed up investigation, which hopefully has a little more weight than the kind chris christie open. she put a vice president in charge of safety. but i wonder, sally, what you think about what the government knew. and before him steve ran away in there as a rep
we are very hopeful the comments mary barra has made indicate they are going to take -- lives lost, peopleing loved ones in terrible accidents, very seriously, and make a change that cost them $10 -- >> do you agree with matt that mary can be part of the new culture change? she is old school gm. she has said a lot of very positive things that we hadn't heard before from heads of companies, heads of car companies. she said something went terribly wrong. we applaud that. she is saying we...
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Mar 18, 2014
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. >> i think that's an unprecedented step to apologize the way mary barra did. >> jackener adis with kelly blue book. >> reporter: also today barra named jeff boy a 40-year veteran of g.m. to head up global vehicle safety. >> this is a big big company and problems have a tendency to be buried in bureaucracy so appointing somebody whose key job is to keep track of safety is a very important step, i think. >> reporter: g.m. has admitted to knowing that faulty ignition switches could cause engines to shut down and power steering and airbags not to work. yet the company did not issue a recall for 13 years. a 2011 study by the insurance institute forafety found the chevrolet cobalt had the highest fatality rate of the bestselling cars in its class. >> one thing to remember about this is many people who were at the prebankruptcy general motors are still high-ranking officials in the current general motors. so some people have the potential to be tainted by this. >> reporter: g.m.'s lawyers were on capitol hill today. hearings are expected to be held some time in the next few weeks. and mary
. >> i think that's an unprecedented step to apologize the way mary barra did. >> jackener adis with kelly blue book. >> reporter: also today barra named jeff boy a 40-year veteran of g.m. to head up global vehicle safety. >> this is a big big company and problems have a tendency to be buried in bureaucracy so appointing somebody whose key job is to keep track of safety is a very important step, i think. >> reporter: g.m. has admitted to knowing that faulty...
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Mar 17, 2014
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we're finally hearing from the ceo mary barra. over the past month the stock is down about 5% phil lebeau joins us with some of the details. phil? >> this is a case of gm trying to get out of in front of the this recall story with the announcement of more recalls. let's start first off with the most important news for those investing in shares of general motors gm is taking a $300 million charge related to the 1.6 million vehicles recalled for the ignition switch, and those new recall announcements basically breaks down like this 1.18 million vehicles '08 to '013 vehicles. a wiring harness is the problem. and finally 63,'13 and '14 models. just a few minutes ago we heard from mary barra about the company's commitment to get in front of these issues. >> these are serious developments that shouldn't surprise anyone. after all, something went wrong with our process and terrible things happened. as a member of the gm family and a mom with a family of my own, this really hits home for me. we have apologized, but that's just one step in
we're finally hearing from the ceo mary barra. over the past month the stock is down about 5% phil lebeau joins us with some of the details. phil? >> this is a case of gm trying to get out of in front of the this recall story with the announcement of more recalls. let's start first off with the most important news for those investing in shares of general motors gm is taking a $300 million charge related to the 1.6 million vehicles recalled for the ignition switch, and those new recall...
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Mar 24, 2014
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here is what is going on they're watching what mary barra says.key here what the "new york times" cited, bankruptcy fraud. any criminal negligent. any signs that they knew about it and covered it up. if that happens the bankruptcy she had, the immunity shield from 2009, gm went bankrupt in 2009, they're saying this is old gm's problems. that bankruptcy shield goes away if they find any indication of a cover-up. new gm will be hit with a cascade of lawsuits. already getting hit with lawsuits. cheryl: they will be looking for it. lizzie, thank you. >> yeah, sure. cheryl: we have a deal to tell you about. madison square garden has bought a 50% stake in tribeca enterprises, valuing the company as $45 million. tribeca enterprises was co-founded by robert de niro, runs two international film festivals a two-screen theater and decision that releases movies in digitally and theaters. this brings two entertainment companies looking to expand. big news there. especially for southern manhattan. anyway. >>> news you can use from the friends that you trust. cr
here is what is going on they're watching what mary barra says.key here what the "new york times" cited, bankruptcy fraud. any criminal negligent. any signs that they knew about it and covered it up. if that happens the bankruptcy she had, the immunity shield from 2009, gm went bankrupt in 2009, they're saying this is old gm's problems. that bankruptcy shield goes away if they find any indication of a cover-up. new gm will be hit with a cascade of lawsuits. already getting hit with...
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Mar 20, 2014
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ceo mary barra says she has not been contacted by the u.s. attorney's office, but if she is she says she will cooperate. phil lebeau, "nightly business report," chicago. >>> carl brouwer says the timing of the toyota settlement is interesting. he's senior analyst at kelly blue book. mr. brouwer, good to have you with us. why do you think it's interesting? do you think it's not a coincidence? >> i don't think it's a coincidence. i think the government wanted to resolve this issue as soon as they could once they saw that there was this next one coming down the line. they've only got so many resources to dedicate to these kind of things. i also think they wanted to send a message very clearly at the start of the g.m. process so that they get full cooperation. >> does this give you any hint as to what kinds of penalties general motors may face or what they may have to do? >> it's going to be interesting. because there are some similarities but there's some differences, too. similarly to toyota, the g.m. issue took awhile to resolve, longer than i
ceo mary barra says she has not been contacted by the u.s. attorney's office, but if she is she says she will cooperate. phil lebeau, "nightly business report," chicago. >>> carl brouwer says the timing of the toyota settlement is interesting. he's senior analyst at kelly blue book. mr. brouwer, good to have you with us. why do you think it's interesting? do you think it's not a coincidence? >> i don't think it's a coincidence. i think the government wanted to resolve...
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Mar 5, 2014
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employees, ceo mary barra, who's worked at g.m. for 34 years, said, "this was brought to my team a few weeks ago." she said she's convened a group of senior executives to look at the problem and has launched an internal review. "we will hold ourselves accountable and improve our processes so our customers do not experience this again." g.m. is offering to fix the ignition problem at dealers, but the parts are not available yet, so the fixes won't begin until at least the first week in april. >> pelley: jeff, thanks very much. we'll get an up-close look at how china manages the news media. he spent four years in a war zone. now, finding a job is proving to be a tougher battle. and niagara stops falling when the cbs evening news continues. between a morning around the house and getting a little exercise. hi-ya! and i tried a baking class. one weekend can make all the difference. unlike the bargain brand, depend gives you the confidence of new fit-flex® protection. it's a smooth and comfortable fit with more lycra strands. it's our be
employees, ceo mary barra, who's worked at g.m. for 34 years, said, "this was brought to my team a few weeks ago." she said she's convened a group of senior executives to look at the problem and has launched an internal review. "we will hold ourselves accountable and improve our processes so our customers do not experience this again." g.m. is offering to fix the ignition problem at dealers, but the parts are not available yet, so the fixes won't begin until at least the...
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Mar 19, 2014
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>coming up, a rough start for general motors ceo mary barra. she had barely moved into her new office before the new recall scandal broke out. criminalith toyota's penalty, a lot of people are wondering what is next. >> also, the ipo frenzy. why are so many copies going public this year? ons is "market makers" bloomberg television and streaming on your tablet. ♪ >> welcome back to "market makers." i am stephanie ruhle. you know who he is -- mr. jeffries doubling down on the troubled harbinger group. canadian national corp., which in 2012,ffries' group will buy shares of harbinger. falcone has been good to leucadia so far, its existing investment jumping more than 50% since he bought it last year. it is atement, he says - great fit with his core principles and investment approach. phil falcone, clearly obtained guy. people don't want to be invested with harbinger. they don't want to be in a hedge fund, they want to get the investments out, have not been able to, are locked in. he sells to jeffries and creates real liquidity and now they step in
>coming up, a rough start for general motors ceo mary barra. she had barely moved into her new office before the new recall scandal broke out. criminalith toyota's penalty, a lot of people are wondering what is next. >> also, the ipo frenzy. why are so many copies going public this year? ons is "market makers" bloomberg television and streaming on your tablet. ♪ >> welcome back to "market makers." i am stephanie ruhle. you know who he is -- mr. jeffries...
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Mar 31, 2014
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just adding more fuel to the fire as gm ceo mary barra will head to capitol hill tomorrow where she is expected to apologize. we have alan kim, former senior enforcement attorney with the national highway traffic safety administration. welcome back to the show. great to see you again, sir. a long history at nshta. now we have more recalls coming from gm. what do you make of this? they say that general motors will replace either the power steering or the steering column. are you surprised? >> well, there seems to be at least temporarily some increased focus on safety at general motors. maybe it is in reaction to the congressional hearings. gerri: do you think that they're being forced to do this because of all the press attention, all the public scrutiny right now going on of their company? >> i think that has a lot to do with it. gerri: you know, mary barry, as i just said -- mary barra, will be in front of a tough committee, energy and commerce. tough questions expected. there will be an apology. she says she is sorry for everything that went wrong s that enough? what else needs to ha
just adding more fuel to the fire as gm ceo mary barra will head to capitol hill tomorrow where she is expected to apologize. we have alan kim, former senior enforcement attorney with the national highway traffic safety administration. welcome back to the show. great to see you again, sir. a long history at nshta. now we have more recalls coming from gm. what do you make of this? they say that general motors will replace either the power steering or the steering column. are you surprised?...
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Mar 13, 2014
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. >> big test for mary barra. >> she brought in two outside law firms to look at the investigation foral motors. see how they've handled this recall. and she's being as forthright as possible, while realizing, she's under a d.o.j. investigation. we're not going to hear from mary barra anytime soon, as soon as general motors has conducted their own investigation or the outside firms have conducted their own investigation. >> phil lebeau in chicago. hedge fund trade? >> i'm long it. i've been long for a while. what he was saying about mary barra, she has a chance to get in front of it, it seems like she's doing. she can kind of say this didn't happen on my watch. we're going to do everything we possibly can to fix this problem. and i think this, too, shall pass. i don't think this is going to -- maybe the information gets a little worse. >> josh brown, pete making the case that the stock is broken. it's going lower. >> i disagree with him. i'm with karen. i thought it was a little overpriced. and it had run a little too fast in too short of a time frame. everybody into the dividend. all
. >> big test for mary barra. >> she brought in two outside law firms to look at the investigation foral motors. see how they've handled this recall. and she's being as forthright as possible, while realizing, she's under a d.o.j. investigation. we're not going to hear from mary barra anytime soon, as soon as general motors has conducted their own investigation or the outside firms have conducted their own investigation. >> phil lebeau in chicago. hedge fund trade? >>...
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Mar 25, 2014
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one week before the big hearing in washington, ceo mary barra will be on the hot seat as tyler said. the stock is down more than 7% in the last three weeks. today it's down almost another 2%. phil lebeau live in chicago, he will bring us one of the attorneys suing gm in a moment. first, phil, a rundown of the company's problems as they stand. >> and they continue to mound, sue. the latest is a call saying the gm owners of the recalled vehicles, they should park them immediately. in fact, the attorney has filed a motion in federal court asking to issue a park it now alert for the recalled cars. that in junction was filed yesterday. now, general motors says the recalled cars should be driven and can be driven with nothing on the key ring. that won't impact the vehicle. but look at the recall letter and this is what the attorneys cites as a concern. there is condition that your ignition switch may move out of the run position resulting in a partial loss of electrical power and turning off the engine. this risk increases if your key ring is carrying added weight or your vehicle expeeshss
one week before the big hearing in washington, ceo mary barra will be on the hot seat as tyler said. the stock is down more than 7% in the last three weeks. today it's down almost another 2%. phil lebeau live in chicago, he will bring us one of the attorneys suing gm in a moment. first, phil, a rundown of the company's problems as they stand. >> and they continue to mound, sue. the latest is a call saying the gm owners of the recalled vehicles, they should park them immediately. in fact,...
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Mar 18, 2014
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as job as the general motors mary barra appeared on a video posted on the company's mary barra appearedo announce the recall of million vehicles. million vehicles. buick enclave, chevrolet traverse and gmc buick enclave, chevrolet traverse and gmc acadia. and cad& llapandc cadillac sedans because of an an issue with the brake pump that that could start an engine fire. it come s it comes on the heels of last mon th's month's announcement in which an in addi tion in pro addblemition problem forced the reca recall of 1.6 millio n vehicles. 12 deaths were linked to that. family members. >> this time, she did. >> terrible things happened. as a member of the gm family and mom with a family of my own. >> reporter: barra said she will lead the recall and announce a timetable to fix the ignition switch. >> we are putting the customer first. that is how we want today's gm could be judged. >> it's very important for mary barra to come across as someone who is caring who is organized who is in charge and who want this recall to go well. >> gm has now recalled over 3 million vehicles worldwide sin
as job as the general motors mary barra appeared on a video posted on the company's mary barra appearedo announce the recall of million vehicles. million vehicles. buick enclave, chevrolet traverse and gmc buick enclave, chevrolet traverse and gmc acadia. andcad& llapandc cadillac sedans because of an an issue with the brake pump that that could start an engine fire. it come s it comes on the heels of last month's month's announcement in which an in addi tion in pro addblemition problem...
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Mar 23, 2014
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mary barra is scheduled to testify before congress. it is a problem.o it is going to be a huge drain on senior management time for a long time. these things get worse before they get better. it is not going to be a problem for gm to handle whatever fines and penalties and lawsuits. this is going to be a significant issue for a while. >> joan, you have criticized the national highway traffic situation. why do you think the agency didn't demand a recall? >> i think they have a culture problem like general motors does. they never asked general motors for enough information according to them. in my view they had more than enough information when a team looked at one crash in wisconsin and determined that the ignition was in the accessory position meaning you can run the radio and not the car. and the airbags didn't inflate. the system in the car wasn't working. but they identified why. the agency had this. they talked to general motors about it and then it went into a deep, dark, hole. i completely disagree with that. >> do you think this is a wake-up call
mary barra is scheduled to testify before congress. it is a problem.o it is going to be a huge drain on senior management time for a long time. these things get worse before they get better. it is not going to be a problem for gm to handle whatever fines and penalties and lawsuits. this is going to be a significant issue for a while. >> joan, you have criticized the national highway traffic situation. why do you think the agency didn't demand a recall? >> i think they have a culture...
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Mar 14, 2014
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has called for a probe. >> i think mary barra wants to make up for the mistakes of the past, but she has got a lot to make up for. >> reporter: the government has been investigating for a couple of weeks now. i'm told if there is any evidence of wrongdoing found there could be criminal charge. and the lawsuits are already stacking up. >> you can't imagine. bisi onile-ere for news detroit. thank you. coming up on al jazeera america we'll follow the story of a texas family who says they were torn apart by a local church. and a new program aimed at curbing college debt. ♪ what is this place? where are we? this is where we bring together the fastest internet and the best in entertainment. we call it the x1 entertainment operating system. it looks like the future! we must have encountered a temporal vortex. further analytics are necessary. beam us up. ♪ that's my phone. hey. [ female announcer ] the x1 entertainment operating system, only from xfinity. tv and internet together like never before. >> you welcome book al jazeera america. a religio religious group is beg called a cult. famili
has called for a probe. >> i think mary barra wants to make up for the mistakes of the past, but she has got a lot to make up for. >> reporter: the government has been investigating for a couple of weeks now. i'm told if there is any evidence of wrongdoing found there could be criminal charge. and the lawsuits are already stacking up. >> you can't imagine. bisi onile-ere for news detroit. thank you. coming up on al jazeera america we'll follow the story of a texas family who...
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mary barra has been forthcoming in saying, "look, we screwed up, we know that.ow we are doing whatever we can to move forward." they have issued apologies. for a company that big to be forthright, it shows they are keen to put this behind them. >> clearly this goes back a while, but the new information that she knew about it in december, how does that affect her as the new c.e.o. >> i think this is no way any new c.e.o. wants to start a job. one of the largest crises. like i said, she'll come out of this looking pretty good because she has, you know - she's put in place a new safety engineer and expert who will be a direct conduit, which sounds like general motors did not have. the boots on the ground, the engineers, the people that knew there might be an issue, they didn't have a way to get up to the upper levels of manager. she has an individual in place to cover that. she made it clear under no circumstances will something like this be tolerated. >> is this it, is this the information or more. >> we'll get more information. >> the national highway traffic saf
mary barra has been forthcoming in saying, "look, we screwed up, we know that.ow we are doing whatever we can to move forward." they have issued apologies. for a company that big to be forthright, it shows they are keen to put this behind them. >> clearly this goes back a while, but the new information that she knew about it in december, how does that affect her as the new c.e.o. >> i think this is no way any new c.e.o. wants to start a job. one of the largest crises. like...
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Mar 29, 2014
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days before mary barra is to testify before congress. the latest news confirms 2013/2014 chevy crews sedans. dealers have been told to stop selling them, but they do not say way. some say stop-sell records stem from a safety problem. it also issued a recall for the cadillac plug-in hybrid elr. there's an electronic glitch. gm is not aware of crashes related to the issue. call coming as the automaker is facing heat for a recall connected to a faulty ignation swipe. the case is linked to a number of deaths and crashes. >> the federal government is investigating and several lawsuits have been filed against general motors. when mary barra goes before congress she'll take questions from law maker who want to know who did what and when. >> new jersey governor chris christie says the report he commissioned on the george washington bridge scandal is exhaustive and appearancive. he defended himself and his administration. john terrett reports. chris christie was like his old self. >> i had nothing to do with this. >> from his office he was more s
days before mary barra is to testify before congress. the latest news confirms 2013/2014 chevy crews sedans. dealers have been told to stop selling them, but they do not say way. some say stop-sell records stem from a safety problem. it also issued a recall for the cadillac plug-in hybrid elr. there's an electronic glitch. gm is not aware of crashes related to the issue. call coming as the automaker is facing heat for a recall connected to a faulty ignation swipe. the case is linked to a number...
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mary barra will face tough questioning. lawmakers have been combing through many pages relating to the issue, and from the road traffic safety group. we want to know how executives can say they knew nothing about the ignition problems, and why they waited a decade to respond. concigarettes -- congress is wondering what the national safety group knew about it. >> a memo released on saturday indicated that a formal investigation was declined after receiving field reports. the report reveals that the ignition provider told them in 2002 that the system did not meet automakers expectation. >> general motors says mary barra and others knew nothing about the switches until january 31st of this year, yet the company did not issue a recall of 2600 vehicles until february 10th. two weeks later it recalled an additional 745 vehicles, and on friday it hadded 824,000, bringing the total to more than 2 million. barr re released this statement about the latest recall. trying to lokate several thousands switches in a population. 2.2 millio
mary barra will face tough questioning. lawmakers have been combing through many pages relating to the issue, and from the road traffic safety group. we want to know how executives can say they knew nothing about the ignition problems, and why they waited a decade to respond. concigarettes -- congress is wondering what the national safety group knew about it. >> a memo released on saturday indicated that a formal investigation was declined after receiving field reports. the report reveals...
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so gm ceo mary barra is filing a written statement before her testimony on tuesday so we know a littleit what she will say tomorrow. these are the quotes we have so far. i can't tell you why it took years for a safety defect to be announced. i will tell you when i find out. i don't know what that is in response to. today, gm will do the right thing is another thing she is going to say. my sincere apology to everyone affected. i'm deeply sorry. bruce, from a branding perspective. what impact does, i know we're throwing you a curveball here. we're supposed to be talking about something else. this is the breaking news coming right now. so we have the right people to talk about. bruce, from a branding point of view, what dud she have to do tomorrow in order to make people feel better about gm? >> she is doing right things. first thing she needs to say, we are sorry. we understand what happened. we're going to get to the bottom of it and we're going to make good. she will do. she has a huge advantage only being in the seat two or three months. it is not entirely laid in her lap. she has the
so gm ceo mary barra is filing a written statement before her testimony on tuesday so we know a littleit what she will say tomorrow. these are the quotes we have so far. i can't tell you why it took years for a safety defect to be announced. i will tell you when i find out. i don't know what that is in response to. today, gm will do the right thing is another thing she is going to say. my sincere apology to everyone affected. i'm deeply sorry. bruce, from a branding perspective. what impact...
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mary barra, is she selling cars?g cars, but they will have a real problem with this recall issue coming up. look, if you have a car company that is proven to have found a default that is the kind of thing that could kill a driver and says it is too costly to fix ? not a car company -- >> that is ancient history. >> she was in a serious management role at the time. everyone came in, including the government, as a majority stakeholder. >> it speaks the process, right? if that is how management views decisions? >> i like that. within your reporting, is the process different at gm and ford ? >> absolutely. it is a very different management structure and management culture. general motors has a history. remember ralph nader? and then they had problems -- >> how does he know about ralph nader and the corvair? he is too young. betty, the zeitgeist over the weekend when you were flying the surveillance jet back from singapore, the idea that elon musk is using every loophole under mankind. within your reporting, was he succes
mary barra, is she selling cars?g cars, but they will have a real problem with this recall issue coming up. look, if you have a car company that is proven to have found a default that is the kind of thing that could kill a driver and says it is too costly to fix ? not a car company -- >> that is ancient history. >> she was in a serious management role at the time. everyone came in, including the government, as a majority stakeholder. >> it speaks the process, right? if that is...
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gm ceo mary barra has plenty of tough questions tomorrow from the hill.rejected a proposed fix to the faulty switches because of the cost. she will be grilled by those congressional lawmakers. as thes making headlines electric car maker looks to expand in the u.s. and abroad. on friday the company inked a deal with the new york state governor andrew cuomo to basically allow tesla to keep its five stores with the potential to add more. we also learn tesla's general manager in china kingston chiang is leaving the company as elon musk sets his sights on expansion. for what this means for tesla and elon musk, i want to bring a bloomberg auto editor jamie butters in detroit. let's take the china news first. we have not had a chance to talk about it in the program. elon musk has lost quite a few people in his company. i.e. not saying kingston chiang was hugely important to his strategy but he came from bentley, he was the general manager in china, and elon musk has said repeatedly that sales in china are likely to equal if not the even more of a he sells in the
gm ceo mary barra has plenty of tough questions tomorrow from the hill.rejected a proposed fix to the faulty switches because of the cost. she will be grilled by those congressional lawmakers. as thes making headlines electric car maker looks to expand in the u.s. and abroad. on friday the company inked a deal with the new york state governor andrew cuomo to basically allow tesla to keep its five stores with the potential to add more. we also learn tesla's general manager in china kingston...
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mary barra has been gm's ceo for only months, however she's being threatened by a recall. >> mary barra will testify before the house oversight committee next month in what will likely be the first of many hearings regarding the company's recall calls. gm didn't recall the vehicles until last month, but data shows it first learned of the issue as far back as 2001, during the development of the saturn ion. gm signed off on changes to the twitches in 2006, but only for newer models. house panel asked david freedman, the house of the national safety highway administration to testify about why the company didn't act faster to contain the problem. while the problems originated well before barra and freedman were in charge, the hearings are essential to getting answers about what went wrong. gm is facing potential class action lawsuits in response to what critics say is an issue the company and regulators should have dealt with years ago. earlier this week, barra apologized for the recall saying she is taking full control of gm's response and has named a new head of global safety. check and s
mary barra has been gm's ceo for only months, however she's being threatened by a recall. >> mary barra will testify before the house oversight committee next month in what will likely be the first of many hearings regarding the company's recall calls. gm didn't recall the vehicles until last month, but data shows it first learned of the issue as far back as 2001, during the development of the saturn ion. gm signed off on changes to the twitches in 2006, but only for newer models. house...
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should mary barra have some kind of roll in this? >> when you have the first public apology by a general motors officer since the apology to ralph nader, absolutely. the thing is we're putting more and more complex electronics in into cars. we're going to self-driving car and at the heart of this defect are the electronics that trigger or don't trigger the airbag and a airbag should never fail. mary barra should step up to the plate and make the entire investigation public and nhtsa should investigate its own process to see why it missed the ball too. gerri: it announced an investigation i believe last week s that just covering its tracks? >> well, all too many of these investigations turn out to be a whitewash but if they make every single document, every single interview public, that's the way to go. and at the same time, we want to know what went on in these meetings with the nhtsa regulators, with the gm officials. why didn't those meetings result in a recall? >> clarence, i want to ask you this question because we hear this a lo
should mary barra have some kind of roll in this? >> when you have the first public apology by a general motors officer since the apology to ralph nader, absolutely. the thing is we're putting more and more complex electronics in into cars. we're going to self-driving car and at the heart of this defect are the electronics that trigger or don't trigger the airbag and a airbag should never fail. mary barra should step up to the plate and make the entire investigation public and nhtsa...