This weekends course on race offers fans into horse racings triple crown. More over the next hour. Lets get headlines. Thank you very much. Michael feinberg has been sentenced to 3. 5 years for insider trading. A cast one of the victories for prosecutors who spent seven years investigating the firm. He was found guilty in december of a scheme involving text. That went to 1. 8 million in illegal profit. Jarden restaurants has agreed to seafood chain to golden state capitol. It resulted in about 1. 6 billion in proceeds. 1 billion will be used to retire darden. Credit suisse is said to be close to reaching an agreement to pay about 2. 5 billion dollars to the u. S. Justice department and regulators. Resultment would investigation into whether it helped americans. Tos turn our attention General Motors. Failure to disclose a defect that would link to 13 fatalities. This is not the end of the government investigation. On todaysis more agreement. Tell us what is going on. Even before gm wrap
Companyslk about the expansion in the face of the recent bankruptcy filing by competitors. All that in more over the next hour. But first lets begin with General Motors. Lawmakers want to know why it will take a decade to recall automobiles with a defective part has been linked to 13 deaths. She said she does not know why it took so long but said she will get answers. Crexendo not turn back the clock. As soon as i learned about the problem we acted without hesitation. We told the world we had a problem that needed to be fixed. We did so because whatever mistakes were made in the past we will not shirk from our responsibilities now or in the future. Todays gm will do the right thing. Testifying before Congress Today about a recall involving automobiles that were made from 2005 did 2011. Typically they are either cobalt or various types of automobiles. The defect had to do with an ignition switch. The defect has been linked to nearly 13 deaths so far. Gm announced another recall of an ad
The state of college word. And handling pizza with care. We will talk about the companys expansion in the face of the recent bankruptcy filing by competitors. All that in more over the next hour. But first lets begin with General Motors. Lawmakers want to know why it will take a decade to recall automobiles with a defective part has been linked to 13 deaths. She said she does not know why it took so long but said she will get answers. Not turn back the clock. As soon as i learned about the problem we acted without hesitation. We told the world we had a problem that needed to be fixed. We did so because whatever mistakes were made in the past we will not shirk from our responsibilities now or in the future. Todays gm will do the right thing. Testifying before Congress Today about a recall involving automobiles that were made from 2005 did 2011. Typically they are either cobalt or various types of automobiles. The defect had to do with an ignition switch. The defect has been linked to ne
Recall scandal will not disappear with a quick fix. The lawsuits are coming. Charlie gasparino reporting that gms board has lawyered up. With us now, kelly blue book Senior Analyst carl brower and Trial Attorney david stone who has a ton of experience in big corporate litigation like this. Thank you both for being here. What weve been hearing more and more now is this criminal accountability. And senator Claire Mccaskill was all over the airwaves this weekend, but basically she wants this to be criminal. Take a listen. You know, we have the Citizens United case which our Supreme Court said corporations were people. That was hard for some of us to kind of get our arms around, but if, in fact, they are people, then there needs to be some criminal accountability depending on what the facts of the investigation show. I know Justice Department is taking a hard look at all of this including the bankruptcy filing. Tracy all right, carl, i want to talk to you first because now the big issue is
Expert, carl brower from kelley blue book. He joins us from irvine, california. Welcome back to the show, carl. I was looking at the numbers. Gm has recalled Something Like 28 million cars this year alone. On monday, 8. 4 million, an amazing number. What are the chances if im driving to my destination on the july 4th holiday somebody out there, me or somebody i am driving alongside will have recalled car and not know it . The chances are probably pretty good with all the cars out there. You will be fairly close to one at some point that either has been recalled or is waiting to have its recall addressed because it has inbeen fixed yet. Gerri you know, i think people forget rentals. Rental cars out there are also at risk. Is there anything being done about those cars and getting those cars fixed . That is an interesting question because that is really been raised, the visibility of that issue has come up because of all these recalls and all the idea is that you shouldnt renting cars to