Page 6 - Auto Assembly News Today

Suspect are on your mind. They want to make things better for our customers and in that process make gm better. They particularly wanted to know what we plan to though you do for those who suffer the most. S why i am pleased to announce we have attained kenneth feinberg. I am sure this committee knows mr. Feinberg is highly qualified and is very experienced in handling matters such as this, having led the compensation efforts involved with 9 11, the bp oil spill and the Boston Marathon bombing. ...

Thank you, mr. Chairman. Ms. Barra youve mentioned several times in your comments todays gm. So my assumption is that you are going to run gm in a different manner than it has been run in the past . And that thats correct. And you are making some changes. I want to ask you just a little bit about time line. Helping us to get our hands around this because this is the first investigation were going to do. Were going to have others. And continue to look at this to get answers and figure out what ha...

Yes. And for some reason, though, the new switch was not given a part number and instead shared a number with the original defective switch. Is that correct . Yes. Now this new switch also did not meet gms minimum torque specificications either. This one delfi said was in the range of 10 to 15 and it really should have been 15 at a minimum. Is that correct . I have not seen the test results. You dont know that. Ok. Now, despite these facts gm continued to manufacture cars with these same ignitio...

Finally, a Senate Hearing on compensating General Motors victims. Our issue spotlight programming on gm recalls begins with General Motors ceo mary barra. In april, she testified where she apologized to the victims causeds for the deaths by the faulty ignition switches. This is about 50 minutes. You are now under oath. You may now give a fiveminute summary of your written statement. Thank you, mr. Chairman. Can you hear me . Ok. My name is mary barra and i am the chief executive officer of Gener...

Dagen very big overseas. Connell we will talk to jo ling kent in a minute. Good morning. Volatility has been what we have seen recently. We are still in nonvolatile time. Right now we are seeing a pattern with lots of green arrows across the board. The Dow Jones Industrials up. Almost a half of 1 . Just like the tech heavy nasdaq. The s p is getting walmart with some tough numbers out. Back to you. Dagen whats app. That is how you are supposed to say it. Connell some mixed reviews from the analy...

Absolutely. Damian paletta and james tankersley, thank you both for being with us today. Thank you. [captioning performed by national captioning institute] [captions Copyright National cable satellite corp. 2014] like hsbcake a case that got a 1. 9 billion settlement levied at them a year ago. Of the deferred prosecution theyment is they admitted have laundered as much as 850 million for a pair of central and south American Drug cartels. We are talking that not only did they commit minor financi...

Responsibility and liability in this entire issue. Have you met with them and with the Engineering Team that was responsible for this switch . I have not met with the specific Engineering Team that is responsible, but i am speaking to leadership and those individuals are being interviewed as part of the investigation. Now, going back, did you say that this was a defective part when you talked about it earlier . We have learned when we knew when the recall decision was made and we later went back...

Person was the one that decided not to recall the defective version . Where did where in the timeline is that . I dont know but that is part of the investigation that were doing. Do you know when it was that it was discovered, what year, what you know, where in the timeline that it was discovered that, in fact, a new part number was not assigned . I became aware of that after we did the recall and the timeline was put together. So that was just in the last month or so. Is that right . Thats when...

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 ...

Investments. Im ali velshi, and this is real money. This is real money, you are the most important part of the show, to tell me what is your on your mind. Iraqi forces continue to lose ground to sunni rebels in the countrys north as the United States considers considering with iran. The Northern City today fell to the isil. Iraqi Security Forces loyal to the government have failed to defend the countrys sunni Populated Areas in the north and west from the isil offensive but have managed to stall...