GM General Counsel grilled at the Senate

GM (NYSE:GM) General Counsel Mike Millikin testified at the Senate yesterday stating he did receive the four warnings from lawyers regarding the crashes involving stalled vehicles between October 2010 and April 2013 but did not alert GM’s board or securities regulators to the potential liabilities.

“I think the failure of this legal department is stunning,” Senator Claire McCaskill replied. “I don’t get how you and Lucy Clark Dougherty still have your jobs.”

CEO Mary Barra defended Millikin stating lower-down members of his department had failed to inform him to the scale of the problems and to the warnings the company had received from external lawyers.

From other sites
Comments (14)
  • funfundvierzig
    , contributor
    Comments (4911) | Send Message
    Yesterday, July 17, 2014, on Capitol Hill, an arrogantly defencive Mary Barra, bragged that her grossly negligent and incompetent GM General Counsel Mike Millikin "is a man of tremendous high integrity".


    Ms. MARY EmBARRAssed continues to lie outrageously with Orwellian irony! And Ms. Barra just proved again she is a woman of tremendous low or no integrity.


    Unfortunately for investors and GM shareholders, the unfolding narrative of this waxing GM scandal and massive consumer fraud keeps making splashing negative headlines and generating wide-spread mistrust.


    Buy a car or truck from these people? Hell, no!


    18 Jul 2014, 02:45 AM Reply Like
  • capitolp
    , contributor
    Comments (716) | Send Message
    Not only the cost of the bailout, now we got to pay Washington's finest to act like they care while in the meantime they're cashing their GM re-election donation checks. What a circus.
    18 Jul 2014, 12:01 PM Reply Like
  • Budavar
    , contributor
    Comments (1412) | Send Message
    Another bankruptcy lurking...?


    With such incompetence lurking = pun intended =
    beneath the surface + now in broad day light.
    18 Jul 2014, 03:07 AM Reply Like
  • mikeRetirement
    , contributor
    Comments (1120) | Send Message
    This is not "Government Motors" anymore folks. Claire McCaskill doesn't get to choose GM's management team.


    Mary Barra is doing a great job cleaning up the mess. Great to see her push back on the "Concerned" Senators.


    GM's customers are buying more of the product each month. They don't seem concerned, neither should you.
    18 Jul 2014, 04:00 AM Reply Like
  • Snoopy1
    , contributor
    Comments (1126) | Send Message
    I would love to hear what the bears think Barra should be doing differently. They just love to whine.


    GM is doing well with a great lineup of cars and is a bargain at 8x 2015 EPS.
    18 Jul 2014, 04:55 AM Reply Like
  • Me4buick
    , contributor
    Comments (22) | Send Message
    It is amazing to read the same unknowledgable,demeaning and personal attacks daily inflicted by the same individuals which SA continues to promote. Facts do not seem to matter. Slander is the order of the day at SA...
    18 Jul 2014, 09:01 AM Reply Like
  • Capt Jack Daniels
    , contributor
    Comments (1466) | Send Message
    The 3 monkey's of see no evil, hear no evil, and speak no evil have been the mantra of an incompetent and bankrupted General Motors.


    What misstatement of facts? that over 13 deaths have been attributed to poorly designed components that GM specifically asked for and used in millions of vehicles. That when the problem was brought to the attention of those higher ups at GM, they played the see no evil see nothing wrong with them using components that didn't even meet the min and most basic quality standards and requirements at GM. They saved a few pennies back then and now are on the hook for billions in losses and billions lost in perceived integrity and market worth. GM also tried to cover up their mismanagement by changing part numbers or more so by not changing part numbers, but simply changing from the flawed component.
    It was the work of some ambulance chaser who did diligent detective work in noticing the cover up and change by researching the parts at junk yards and burned out mangled gm vehicles that killed the occupants who were unfortunate to be inside said vehicle.
    GM knew of the problem for at least ten years, but once again they played the don't speak of this, monkey speak no evil.


    Just listen to the testimony and facts and make your own decision.


    GM is still in the don't speak no evil stage, at the very least.


    A competent CEO would replace the head of the GM lawyer division, except that such lawyer allows for the plausible, but in this case the not so plausible deniability factor. That some how he is not responsible because no one told him or that he didn't bother to mention it or tell the board of directors or to put such facts in disclosure statements.


    I don't recall reading about warnings, the management are a bunch of "Redacted" types who instead of addressing problems will simply feign ignorance and deniability.
    18 Jul 2014, 12:39 PM Reply Like
  • funfundvierzig
    , contributor
    Comments (4911) | Send Message
    Perhaps, Mike Millikin, GM General Counsel, cannot be dispatched because he knows too much! He's got the goods on corrupt senior executives and Managers in the power structure. …funfun..
    18 Jul 2014, 01:09 PM Reply Like
  • JDoe20
    , contributor
    Comments (1461) | Send Message
    Capt, the old GM must have learned a lot from the Feds during their Gov't Motors days.


    I'm glad I own the new GM that is cleaning things up, producing great cars and is starting to hit on all cylinders!
    18 Jul 2014, 04:41 PM Reply Like
  • bertdog
    , contributor
    Comment (1) | Send Message
    Worst company ever poor service and can't trust a word they say.
    18 Jul 2014, 09:41 AM Reply Like
  • 1GreatCFA
    , contributor
    Comments (1362) | Send Message
    Forgot their cars are crap bertdog. GM = junk.
    18 Jul 2014, 10:50 AM Reply Like
  • mikeRetirement
    , contributor
    Comments (1120) | Send Message
    Very insightful bertdog and 1GreatCFA, that kind of analysis must give you a lot of comfort on your short position.
    18 Jul 2014, 12:25 PM Reply Like
  • lemm
    , contributor
    Comments (1220) | Send Message
    I was thinking the same thing mikeR, thanks for the laugh.
    18 Jul 2014, 03:08 PM Reply Like
  • lemm
    , contributor
    Comments (1220) | Send Message
    BTW,I haven't seen any thing from 1980XLS for quite some time,all ways enjoyed his comments.If you see this 1980XLS,thanks again for the info you sent me a few weeks ago.
    19 Jul 2014, 12:22 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs