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Breakingviews: GM's misfiring culture

Friday, Mar 14, 2014 - 03:19

March 14 - Reynolds Holding and Antony Currie discuss how the automaker's 13-year failure to deal with faulty ignition switches lays bare a bureaucratic mess that has not yet been fully fixed.

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-- seems as if there's news every day in the big GM ignition debacle the auto maker recalling millions of cars. That -- possibly -- at all while speeding down the highway now. The financial. And ramifications entity of this situation or -- I mean got. You know regulator is that Justice Department is now involved you can have lawsuits but. There's really as you point out cultural problem that the Nancy -- deal. -- that what we we've known about this cultural problem for years because that's partly -- GM went into bankruptcy in 2009. Government sponsored let's not forget. What missionaries is at it but if you look at it accident Nixon problem it. Delphi which makes the pop says but he's colts' five bucks to. Right patients SA or one point six mean cause -- such article could be able you know an extended three is for the back when this man I don't expect us to 2001 now. 13 thousand Florida earlier in August. So that will cost just parts and labor bunkers reckons it cost about ten million to fix -- ten million. Office says he -- -- solicited payment statistics right back at the time. So how does it for me being puzzled can be even then yeah managed to miss this completely it's all about coat -- -- that they miss. Or did they say well we -- have to deal with some people found and they said -- she the issue is just intentional but doesn't have both passed airing on the brakes on their backs it fine. But the wrong. And scratchy these things that have happened already escalated enough to get it sorted out I don't that the regulators at least that that the that the safety agency. -- it's only -- but never quite realized it was not bad nine -- beautiful to casting contributed to three deaths in Pensacola that's that's you know ruled dated -- -- how does this compare with had similar situations the past obviously Toyota had a big problem with its accelerators so it is the problem to confess right side. And -- -- -- five billion dollars -- and mostly from from congress saying. This is not the value cost economy at GM would have to probe two reasons first -- these cars apparently going to knowing -- 2007 says not a right I mean he's not right secondly. Because these constant critic before bankruptcy a lot of the problems that have put it for the 2000 bankruptcy like and you cannot make claims against the NS -- GM. Now because the price of regular bankruptcy think that Iraq debacles now for don't use its money actually that -- will not be claims against the new GM that should anybody any liability has to go somewhere else there's money pumped into was -- motors liquidation which is the that the old of the bits of GM that -- new GM hasn't taken up and write -- So they could -- that -- off colds -- ready for GM to set up a fund anyway to sister beat Pete on -- Austria and us that they season about it. But the big thing to Mary parent he's just been CEO for two months now. Yeah is to show that the the company's culture. Has actual legal process and that is going to be hopping to prove they couldn't even get a number of deaths right this case it was thirteenth we counted one line -- -- -- job it's a great story is certainly something that will be following up. In the meantime stay tuned for more breaking views. Next week.

Breakingviews: GM's misfiring culture

Friday, Mar 14, 2014 - 03:19

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