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GM ignition recall report: What observers said

First Published Jun 05 2014 04:39PM      Last Updated Jun 05 2014 04:39 pm
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"The initial findings are deeply disturbing, suggesting that communications and management failures ran deep and wide within GM. The failure to identify red flags and conduct a recall sooner cost lives."

—Rep. Fred Upton, R-Mich., chairman of the House Energy and Commerce Committee, whose oversight subcommittee has been investigating the GM recall

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"I won’t be letting GM leadership, or federal regulators, escape accountability for these tragedies."

—Sen. Claire McCaskill, D-Mo., chair of the Senate Commerce Committee’s consumer protection subcommittee, which also has investigated the recall

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"They were fired. What? Do you want to put them in jail now? I mean, I don’t know. Let’s have some hearings and determine if they did anything that was illegal before we start throwing them in jail."



—Senate Majority Leader Harry Reid, D-Nev., responding to a reporter who asked whether he believes the Justice Department should bring criminal charges against the 15 GM employees who were forced out for their role in the ignition switch scandal

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"We are comfortable with our $2.5 billion legal cost estimate given the establishment of a victim compensation fund to directly pay for injuries/deaths and the likelihood that GM will use the bankruptcy shield to defend against the more spurious ‘economic loss’ class action suits."

— Analysts at Barclays, in a research note to clients.

 

 

 

 

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