GM: The Price Of Failure
IGNITION SWITCH MALFUNCTION COST COMPANY NOTHING TO FIX
Sometimes the best things in life really are free …
Take the “fix” for Government … err, General Motors deadly ignition switch malfunction. According to an internal GM investigation, the solution to the ignition switch problem that has killed 13 people (or more than 60 if you believe attorneys suing the company) cost the company nothing.
The defect – which prompted rolling recalls beginning back in February – caused select vehicles to slip out of their “drive” position, disabling critical braking, power steering and air bag functions (i.e. everything you need to avoid crashing your car).
More than 2.5 million GM vehicles have been recalled as a result of the defect – part of a record 14 million recalled vehicles this year.
Fifteen GM employees have been terminated over the scandal surrounding the ignition switch malfunction. Five others have been disciplined.
Who hasn’t lost her job? CEO Mary Barra, who was praised by U.S. President Barack Obama in this year’s State of the Union address.
“Our success should depend not on accident of birth, but the strength of our work ethic and the scope of our dreams,” Obama said of Barra. “It’s how the daughter of a factory worker is CEO of America’s largest automaker.”
Okay … Barra better get cracking on that work ethic, though, because in addition to its recalled vehicles, GM also has a record 825,805 vehicles sitting unsold on dealer lots.