General Motors outlines compensation plan for ignition switch victims

General Motors (GM -0.4%) says it will not cap victim compensation in cases tied to recalled vehicles.

Compensation expert Kenneth Feinberg says the automaker won't hide behind the bankruptcy shield for older cases.

Claims by victims can be filed between August 1 and December 31. The first checks are expected to be issued sometime this fall.

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Comments (8)
  • deercreekvols
    , contributor
    Comments (9625) | Send Message
    Watched Feinberg say that compensation forms are being translated into "French, Canadian, and Spanish."




    This guy worries me if he believes "Canadian" is a foreign language.
    30 Jun 2014, 10:30 AM Reply Like
  • Capt Jack Daniels
    , contributor
    Comments (1466) | Send Message
    This still shouldn't shield them from criminal charges as well as just bad faith management.


    Funny what started out as GM insulting people with possible 500 vouchers for those who complained about their defective vehicles to win them over into newer defective vehicles.


    Until they drag some CEO and or additional collaborating Vp's into prison, for such bad practices, nothing really will change other than greater PR payments and more false commercials trying to convey that they really care.


    They got the BP guy to rule over any compensation. Feinberg.
    30 Jun 2014, 10:39 AM Reply Like
  • Budavar
    , contributor
    Comments (1410) | Send Message
    This latest news confirms my previously stated take on the price of GM, the stock:


    +++ it has become a speculative play, repeat speculative =
    as at this juncture not even GM's top management can predict what EPS will turn out to be this year, let alone in 2015 + beyond.


    Thus any investment decision based on so-called "forward" numbers + "projected" results are quite indefensible both on ethical + professional grounds.


    Now I trust, on behalf of the 'average' millions who toiled for GM in the past + present = none of their retirement nest eggs are put in jeopardy by speculative investment positions in GM stock.


    Good investing for all.
    30 Jun 2014, 10:45 AM Reply Like
  • Capt Jack Daniels
    , contributor
    Comments (1466) | Send Message
    Bud what you can predict is that the Management of GM will make bank with lowered strike prices on their future stock compensation, plus they'll likely also give themselves huge bonuses for the way they handled handing over shareholders equity to others -- namely consultants, lawyers, governmental departments, and other shake downs and or pay off, not to mention the unions and the UAW.


    As to whatever gets actually trickled down to the actual shareholders is anyone's guess.


    Just wait until the UAW goes on strike.
    30 Jun 2014, 10:49 AM Reply Like
  • funfundvierzig
    , contributor
    Comments (4670) | Send Message
    "Only if the individual is satisfied with the compensation provided, does he/she agree to waive their (sic) rights to litigate against GM."


    No aggrieved claimant should waive his or her rights to litigate against GM without qualifying the waiver with a fraud exception. In short, claimants should not give up their rights to purse redress in the courts of the land in the event there is continuing misrepresentation or fraud being perpetrated by GM's integrity-depleted Management! The history of this sordid cover-up for over a decade is too compelling for one to believe the Management of this corrupt car company has suddenly changed its culture and character by 180 degrees!


    Merely the opinion of one individual retail investor…funfun..
    30 Jun 2014, 10:54 AM Reply Like
  • agaptrader
    , contributor
    Comments (66) | Send Message
    My comment on GM on a prior article - GM is definitely a good stock and even after so much of recalls the stock does not reflect it and the market still shows confidence in this brand name. GM has definitely taken a step in the right direction, how it will impact in short term, may be consolidate, but longer term this stock is positioned well to outperform the market. I like it but would like when this noise is behind the stock.
    30 Jun 2014, 11:52 AM Reply Like
  • funfundvierzig
    , contributor
    Comments (4670) | Send Message
    Will Ken Feinberg compensate GM shareholders for losses from defective executives and defective engineers? …funfun..
    30 Jun 2014, 01:14 PM Reply Like
  • Capt Jack Daniels
    , contributor
    Comments (1466) | Send Message
    Yes I as a former shareholder would like to be compensated for the faulty decisions by defective engineers and executives.
    30 Jun 2014, 01:20 PM Reply Like
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