Live Breaking News & Updates on Doing Business Gm|Page 9
Stay updated with breaking news from Doing business gm. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Have now been recalled, making this not only a huge consumer issue but as nbc news has discovered through an internal company memo, an issue they may have known about far before we did. nbc news capitol hill correspondent kelly o donnell starts us off. kelly, how is the gm s ceo testimony being received? well, it s early going and it s already getting pretty tense. what you find is there are pointed questions from members of the committee in both parties wanting answers, and mary barra is saying that her company, gm, is doing an internal review. so there are some limitations in answers that she can provide. she also said she didn t review all of the documents given to the committee because that number is about 200,000 pages. she did outline steps that the company is taking. in addition to this internal review, which they promised to act on, the recall, repairs and so forth are kicking off next week. she explained some of the consumer angles to that. talked about a compensation fund f ....
Detailed text transcripts for TV channel - MSNBC - 20140401:18:42:30 vimarsana.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vimarsana.com Daily Mail and Mail on Sunday newspapers.
That this doesn t happen. well, senator, you have a lot of talk from your colleagues on the other side of the aisle about overregulation of american business and then you re bringing up i think rightly this question of whether or not the regulators charged with protecting millions of consumers when it comes to auto safety were on the job. obviously there was a different mindset toward regulation in the previous administration. but are you saying that that same attitude toward regulating industry has been carried over or that there was a substantive difference between the attitude of regulators in the previous administration and the current one? well, we re going to find out. and there is no excuse. regulation is for the purpose of the safety of the public, and tragically 12 lives, at least 12 have been lost. does this situation with general motors, as tragic as it is, does this undermine the case that your colleagues on the other side of the aisle are constantly making about our ....
To let that happen and it doesn t look like congress will let that happen. john, the scope of this recall is alarming. you have over 6.3 million vehicles. it s more in the last four years combined, specifically for gm. i believe when a few years ago, you and i were on the hill trying to track down folks regarding the toyota recall that had gotten a lot of congressional attention. let s go back to that point we talked about earlier. aside from having these public hearings where you do the perp walk. everybody goes before the committee and takes their beating. the amount that congress can legitimately do directly is quite limited. right. they really just have the power of investigation, the power to subpoena, to drag these people into public, to have them, as you say, take their beating. to hopefully getting more information than is really out there. it s an essential function of congress to do oversight but it s not like they re going to immediately legislate on this. they re not ....
Senator, i understand there is you know, you have the hearing today, your going to have hearings tomorrow on the senate side, what congressional action is possible here or is this really more about fact finding on behalf of the american people, who again were investors in gm? well, it s legitimate fact finding. the net amount that we spent in the bailout is over $10 billion. that s taxpayer money. but more than that, what we want to know, what are they going to do about it to get the problem solved? and then the next question is why wasn t the regulator back there in 2004, johnny on the spot doing this? i can tell you, because we had other regulators back in that period of time that were not doing their job on safety at all. and then once we talk about the regulators back then, what about the present administration and why aren t the regulators in this present administration right there cracking the whip so ....