This is real money. You are the most important part of the show, so join our live conversation for the next half hour on twitter and on facebook. Com. What is wrong with gm . Is this a company you can trust anymore . Should you buy a gm vehicle . Are you safe in the one you have . These questions all became more relevant hours ago. As they announced another recall. Another 1. 5 until cars. The latest in a tidal wave of mistakes. And for General Motors a company desperately trying to reinvent itself with a new ceo, the timing and resulting justifying loss of confidence against American Consumers couldnt be worse. The drum beat of woe continued today, and General Motors announced a recall that brings it total this year along to an incredible 6. 2 million vehicles. 6. 2 million vehicles. Today gm decided to recall 1. 5 million cars that may suffer a sudden loss of electric power staring. The problem increases a risk of a crash because the cars would revert to manual steering. This comes o
Good friday morning, everyone. Two breaking stories happening right now. Extreme weather on both sides of the country. In california, wildfires are burning everything in their path, while being fueled by a hot and dry condition. And on the east coast, tornado cleanup is under way in North Carolina, as at least ten states are under flash flood warnings this morning. We begin, now, with the situation in san diego county, where at least nine wildfires are still burning. One body has been found in the carlsbad fire. But far from one of the worst blazes in san marcos. Heres abcs tahman bradley. Reporter calmer winds aided firefighters battling nine blazes burning around san diego. But the fires are still raging. Theyve scorched more than 10,000 acres. This is all thats left of one house in escondido. I cant believe it. Its just its unreal. Reporter its not clear yet how many houses have been damaged. I saw the smoke coming above our unit. And it turned suddenly, super black. So, headed that
Switch. If you had a heavy key chain like my mom key chair or if you had if you were short and bumped up against the ignition with your knee, it could cause this key to switch right off. Mr. Chairman, we now know that these switches were defective from the start. In february of 2002, gms ignition switch supplier dell if i informed the company that the switch did not meet gms minimum specifications. But gm approved it anyway. Now, yesterday we sent ms. Barra a letter about this decision. I would like to make it a part of the hearing record. Without objection. Soon after the approval, the cars were on the road and it didnt take long for problems to appear. In 2003, june 2003, the owner of a saturn ion with 3,474 miles on the odometer made a warranty report that he or she, quote, bumped the key and the car shut off. Gm would receive more than 130 similar warranty claims of owners about this problem over the next decade and never informed the public or reported the problem to federal safet
I now convene this hearing of the oversight and investigation subcommittee entitled the gm ignition switch recall investigation update. I thiank my colleagues and presenters for being here. Ms. Barra, when you were before this committee almost three months ago you could not answer many of the subcommittees questions about why it took General Motors years to figure out why the air bags in the cobalts, ions, hhrs were not deploying when they should have. It took gm years before finally issuing a safety recall. Now mr. Valucas has made public his report on the gm fiasco in which he concludes it doesnt appear to be a case of a coverup or a conspiracy. Instead, according to mr. Valukass report gms failure to recall faulty vehicles was a case of incompetence and neglect. Perhaps this report should have been subtitled dont assume malfeasance when incompetence will do. I still have questions about whether gm employees knowingly withheld information during previous liability lawsuits. Informati
I now convene this hearing of the oversight and investigation subcommittee entitled the gm ignition switch recall investigation update. I thiank my colleagues and presenters for being here. Ms. Barra, when you were before this committee almost three months ago you could not answer many of the subcommittees questions about why it took General Motors years to figure out why the air bags in the cobalts, ions, hhrs were not deploying when they should have. It took gm years before finally issuing a safety recall. Now mr. Valucas has made public his report on the gm fiasco in which he concludes it doesnt appear to be a case of a coverup or a conspiracy. Instead, according to mr. Valukass report gms failure to recall faulty vehicles was a case of incompetence and neglect. Perhaps this report should have been subtitled dont assume malfeasance when incompetence will do. I still have questions about whether gm employees knowingly withheld information during previous liability lawsuits. Informati