GM Retains Kenneth Feinberg on Recall Response
Tue, Apr 1 2014
WASHINGTON, D.C. – General Motors CEO Mary Barra today said the company has retained Kenneth Feinberg as a consultant to explore and evaluate options in its response to families of accident victims whose vehicles are being recalled for possible ignition switch defects.
Barra made the announcement in testimony before the Oversight and Investigations Subcommittee of the House Energy and Commerce Committee.
“Mr. Feinberg is highly qualified, and is very experienced in the handling of matters such as this,” said Barra. “He brings expertise and objectivity to this effort, and will help us evaluate the situation and recommend the best path forward.”
Feinberg is highly regarded for his handling of compensation issues related to 9/11, the BP oil spill in the Gulf of Mexico, and the Boston Marathon bombing.
“My mandate from the company is to consider the options for dealing with issues surrounding the ignition switch matter, and to do so in an independent, balanced and objective manner based upon my prior experience,” Feinberg said.
In her appearance before the Committee, Barra also detailed the company’s overall response to what she called “an extraordinary situation.”
“Our employees and I are determined to set a new standard,” said Barra “Our customers and their safety are at the center of everything we do.”
She outlined measures the company has taken to address the ignition switch recall:
- Commissioned two and asked for a third production line from supplier Delphi for new parts, which will begin flowing to dealers on schedule next week;
- Enhanced customer call center staffing, to ensure minimal wait times;
- Providing loaner and rental vehicles to concerned customers who drive one of the recalled vehicles;
- Retained former U.S. Attorney Anton Valukas to lead a comprehensive internal investigation with free rein to go where the facts take him; and
- Appointed Jeff Boyer as new Vice President for Global Vehicle Safety whose first priority is to quickly identify and resolve product safety and customer satisfaction issues.
Barra reiterated her sympathies “to everyone who has been affected by this recall” and promised “to hold ourselves accountable” once all the facts are known.
The full text of Barra’s oral testimony can be found at media.gm.com
About General Motors Co.
General Motors Co. (NYSE:GM, TSX: GMM) and its partners produce vehicles in 30 countries, and the company has leadership positions in the world's largest and fastest-growing automotive markets. GM, its subsidiaries and joint venture entities sell vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Jiefang, Opel, Vauxhall and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety, security and information services, can be found at http://www.gm.com.
# # #
View Terms & Conditions
PLEASE READ THESE TERMS CAREFULLY BEFORE USING THIS SITE
THIS WEB SITE (THE "SITE") IS PROVIDED BY GM FOR INFORMATIONAL PURPOSES ONLY. BY USING THE SITE, OR BY DOWNLOADING MATERIALS FROM THIS SITE, YOU AGREE TO ABIDE AND BE BOUND BY THE TERMS AND CONDITIONS CONTAINED BELOW AND ELSEWHERE WITHIN THE SITE. IF YOU DO NOT AGREE TO ABIDE BY AND BE BOUND BY THESE TERMS AND CONDITIONS, DO NOT USE THIS SITE OR DOWNLOAD MATERIALS FROM THE SITE.
LINKS TO OTHER MATERIALS: As a convenience to you, GM may provide on this Site links to Web sites (the "linked sites") that are operated by other entities. The linked sites are not under the control of GM and GM is not responsible for the content of any linked site or any link contained in a linked site. GM reserves the right to terminate any link or linking program at any time. GM does not endorse companies or products to which it links and reserves the right to note as such on its Web pages. If you decide to access any of the third party sites linked to this Site, you do this entirety at your own risk and it is your responsibility to take all protective measures to guard against viruses or other destructive elements.
APPLICABLE LAWS: This Site is controlled by GM from its offices within the United States of America. GM makes no representation that information in this Site is appropriate or available for use in other locations, and access to this Site from countries or territories where the Site's content is illegal is prohibited. If you access this Site from outside the United States, you do so on your own initiative and you are responsible for compliance with all applicable local laws. These Terms and Conditions of use are governed by the laws of the State of New York, without giving effect to its conflict of laws provisions.
GENERAL: GM reserves the right, at its sole discretion, to change, modify, add or remove any portion of these Terms and Conditions, in whole or in part, at any time. Changes will be effective when notice of such change is posted. Your continued use of the Site after any changes are posted will be considered acceptance of those changes. You should visit this page from time to time to review the then-current Terms and Conditions because they are binding on you.
THE INFORMATION CONTAINED HEREIN MAY CONTAIN INACCURACIES AND TYPOGRAPHICAL ERRORS. GM DOES NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE INFORMATION OR THE RELIABILITY OF ANY ADVICE, OPINION, STATEMENT OR OTHER INFORMATION DISPLAYED OR DISTRIBUTED THROUGH THIS SITE OR ANY LINKED WEB SITE. YOU ACKNOWLEDGE THAT ANY RELIANCE ON ANY SUCH OPINION, ADVICE, STATEMENT, MEMORANDUM, OR INFORMATION SHALL BE AT YOUR SOLE RISK. GM RESERVES THE RIGHT, IN ITS SOLE DISCRETION, TO CORRECT ANY ERRORS OR OMISSIONS IN ANY PORTION OF THE SITE. GM MAY MAKE ANY OTHER CHANGES TO THIS SITE AND THE INFORMATION CONTAINED IN THIS SITE AT ANY TIME WITHOUT NOTICE.
IN NO EVENT SHALL GM OR ANY OF ITS SUBSIDIARIES BE LIABLE TO YOU FOR ANY DIRECT, INDIRECT, SPECIAL, CONSEQUENTIAL OR OTHER DAMAGES (INCLUDING, WITHOUT LIMITATION, ANY LOST PROFITS, BUSINESS INTERRUPTION, LOSS OF INFORMATION OR PROGRAMS OR OTHER DATA ON YOUR INFORMATION HANDLING SYSTEM) THAT ARE RELATED TO THE USE OF, OR THE INABILITY TO USE, THE CONTENT, MATERIALS, AND FUNCTIONS OF THIS SITE OR ANY LINKED WEB SITE, EVEN IF GM IS EXPRESSLY ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
On this website, our use of the words "expect," "anticipate," "possible," "potential," "target," "believe," "commit," "intend," "continue," "may," "would," "could," "should," "project," "projected," "positioned" or similar expressions is intended to identify forward-looking statements that represent our current judgment about possible future events. We believe these judgments are reasonable, but these statements are not guarantees of any events or financial results, and our actual results may differ materially due to a variety of important factors. Among other items, such factors might include: our ability to realize production efficiencies and to achieve reductions in costs as a result of our restructuring initiatives and labor modifications; our ability to maintain quality control over our vehicles and avoid material vehicle recalls; our ability to maintain adequate liquidity and financing sources and an appropriate level of debt, including as required to fund our planning significant investment in new technology; our ability to realize successful vehicle applications of new technology; and our ability to continue to attract new customers, particularly for our new products. GM's most recent annual report on Form 10-K and quarterly reports on Form 10-Q provide information about these and other factors, which we may revise or supplement in future reports to the SEC.