GM Officials Expect Internal Probe to Exonerate Mary Barra
General Motors Co officials increasingly believe that Chief Executive Mary Barra will be cleared of wrongdoing in the recall crisis after a three-month internal investigation, the New York Times reported.
GM hired two law firms in March to look into its recall of millions of cars following 13 deaths related to faulty ignition switches.
The internal probe, led by Jenner & Block Chairman Anton "Tony" Valukas, is expected to name executives, employees and departments within GM responsible for the delayed recall, and recommend broad corporate and personnel changes at the company.
Barra, who has been briefed on the investigation's progress, cleared a critical hurdle last month when the US National Highway Traffic Safety Administration imposed a $35 million fine on GM for failing to report the defect in a timely manner, the newspaper said, citing company officials.
GM still faces probes by the US Department of Justice, Congress, the Securities and Exchange Commission and several states about how it handled the issue.
The Wall Street Journal reported on Tuesday that compensation expert Kenneth Feinberg expects within the next few weeks to provide GM with a set of options for offering financial restitution to victims of car crashes connected to the recall.
In April, GM said it retained Feinberg, who recently oversaw the BP oil spill fund, to examine what steps, if any, GM might take for families of crash victims. Safety advocates said the move indicated the company was exploring setting up a victims' compensation fund.
Feinberg told the Journal that he continues "working diligently" on the compensation recommendations and declined to provide additional details on the timing.
GM spokesman Greg Martin declined to comment on the reports.
Copyright: Thomson Reuters 2014
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.