General Motors CEO Mary Barra testified in front of Congress today to address faulty ignition switches that has been linked to 13 deaths and dozens of crashes in recent years. Barra revealed GM had hired lawyer Kenneth Feinberg, who handled the September 11 Victim Compensation Fund and BP oil spill to devise compensation plan for the crash victims.
Barra has been CEO since only January 15, and by GM’s own chronology, the problem with the cars in question began as early as 2001.
“It came to light on my watch, so I am responsible for it,” she said. “Today’s GM will do the right thing.”
The problem was ongoing, but GM didn’t recall models from 2008 or later until last week. Barra admitted it was “very disturbing” to hear reports that previous GM officials did not fix the ignition problems because of the “lead time required, cost and effectiveness.” Read more at Detroit News.
{Andy Heller-Matzav.com Newscenter}
