So, to summarize… mere months after Mary Barra took over the reins of GM from a somewhat surprising Dan Akerson exit, she is faced with record high inventories of unsold vehicles of dealer lots, a sales halt, a recall of 2.53 million vehicles (some of which have been alleged to be responsible for at least 12 deaths), potential bankruptcy fraud inquiries (from non-disclosures), and now a Congressional hearing that is rather uncomfortably titled “The GM Ignition Switch Recall: Why Did It Take So Long?” The phrase “under the bus” comes to mind though we wonder just how many times the so far entirely plain-spoken Barra will ‘plead da fif’ today.
Any questions?
This should simplify things…
How GM determines if they do a recall http://ift.tt/1fmfU0e
— Stalingrad & Poorski (@Stalingrad_Poor) April 1, 2014
It’s not just GM’s CEO Mary Barra that is speaking. On the other side of the aisle will be NHTSA’s David Friedman… grab your popcorn…
Live streaming video by Ustream
Here is the full background on the hearing:
HHRG-113-IF02-20140401-SD002-U2
via Zero Hedge http://ift.tt/1e9n18D Tyler Durden