GM CEO returns to Capitol Hill


General Motors (GM) CEO Mary Barra is returning to Capitol Hill today to face a House subcommittee and answer questions about the company's ignition switch recall.

House Energy and Commerce Committee Chairman Fred Upton says that this time he wants "straight and honest answers."

The Justice Department and other authorities are still investigating why it took more than a decade for GM to recall the 2.6M cars containing the malfunction.

A total of 44 recalls for 20M vehicles have been issued this year by GM, which is more than U.S. vehicle sales per year.

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Comments (4)
  • funfundvierzig
    , contributor
    Comments (4380) | Send Message
     
    Our prediction: GM Chieftess Mary Barra, legally swaddled by one of the finest criminal defense attorneys in the country, Anton Valukas, Esquire, will reiterate her absolute ignorance and innocence for over a decade with respect to millions of deadly defective GM cars she oversaw in part as GM's Executive Vice President of Global Product Development and earlier!

     

    Likely to be another acting performance on the Hill worthy of parody by Saturday Night Live. Comedy writers will be watching for fresh new material.

     

    …funfun..
    18 Jun 2014, 07:25 AM Reply Like
  • funfundvierzig
    , contributor
    Comments (4380) | Send Message
     
    In the meantime, an enormous potential liability persists for GM and its shareholders:

     

    Millions of defective GM cars with deadly ignition switches continue to run up and down the highways likely for months, if not years to come, as the lumbering GM bureaucracy and GM suppliers struggle to come up with timely replacement parts.
    Unfortunately, the body count is likely to rise.

     

    …funfun..
    18 Jun 2014, 07:36 AM Reply Like
  • funfundvierzig
    , contributor
    Comments (4380) | Send Message
     
    Will Congress and shareholders and investors buy into Mary's PR line that the whole GM culture has been changed…given only 15 scapegoats, mostly unnamed and mostly lower-level engineers contained in the cubicles and middle Managers, have been scraped off the rolls? …funfun..
    18 Jun 2014, 07:41 AM Reply Like
  • Rabbiy
    , contributor
    Comments (52) | Send Message
     
    Forward P/E 7.8
    Buy Buy Buy
    18 Jun 2014, 09:06 AM Reply Like
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