GM Plan for Crash Victims to Be Unveiled by Compensation Guru
Mary Barra: 'I don't really think there was a cover-up'
June 30, 2014, 11:37 AM UTC / Updated June 30, 2014, 11:37 AM UTC / Source: Associated Press
When compensation expert Kenneth Feinberg announces the details on Monday of GM's plan to pay victims of crashes caused by faulty ignition switches, at least one part of the recall puzzle will be in place. The fund, to be administered independently by Feinberg, who handled the compensation for victims of the Sept. 11 attacks, still leaves GM facing a plethora of possible criminal probes by lawmakers and regulators. They want to know what GM knew and when and why it took GM so long to recall the vehicles. The payouts could end up costing the automaker millions, or even billions of dollars. It has $27 billion in it coffers now. GM has said the faulty switches, which can cause the engines to stall and shut off power to steering and brakes, were responsible for more than 13 deaths. The automaker recalled 2.6 million older model vehicles earlier this year related to the ignition switches.
Email Shows GM Exec Was Informed of Ignition Defect in 2005
Some Ignition Switches in Recalled Cars Made in China, GM Says
-- The Associated Press and NBC News staff