GM To Pay $900 Million, Settle U.S. Criminal Case Over Ignition Switches – IOTW Report

GM To Pay $900 Million, Settle U.S. Criminal Case Over Ignition Switches

Thursday, 17 September 2015, 17:45 MJA Uncategorized 20

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NEW YORK (Reuters) – General Motors Co <GM.N> has agreed to pay $900 million and sign a deferred-prosecution agreement to end a U.S. government investigation into its handling of an ignition-switch defect linked to 124 deaths, two sources told Reuters.

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The deal means GM will be charged criminally with hiding the defect from regulators and in the process defrauding consumers, but the case will be put on hold while GM fulfills terms of the deal, one source said.

No individuals would be charged in the criminal case, one of the sources said.  more here

20 Comments on GM To Pay $900 Million, Settle U.S. Criminal Case Over Ignition Switches

  4. Oh shit don’t get me started. I’ve always owned GMC trucks. I’m currently driving an 08 Duramax that I haven’t been able to renew my registration on because of a Glow Plug issue. Jerry Brown decided Cali was losing to much revenue by not requiring Smog Checks on diesels so starting a couple years ago you are required to do so. They don’t measure shit. They check to make sure there’s not excessive smoke rolling out the tail pipe and that you don’t have a check engine lite on. That’s where my problems begin. After I get a glow plug swapped out I need to drive the truck 200 miles to clear the sensors. For two years I haven’t made it 200 miles with out another glow plug going out. So I pay my $460.00 a year registration fees, but no tag. And when GM went bankrupt the courts released them from the warranties on the cars and truck sold before the bankruptcy date. Next truck will be a Dodge and I’ll spend the extra money to put some descent difs in the thing.

  9. I always owned American cars, too. Not for any particular reason, mind you – that’s pretty much all there was. Then I went overseas and discovered Volkswagens, which were put together like Swiss watches, compared to our domestic junk. Drove those until I found Japanese cars, which were even better. Have owned Toyotas for the last 40+ years, and have still had less trouble with them overall than I did during the 10+ years I owned GMC and Ford cars. I would prefer to buy American, but I refuse to do so just in the name of patriotism. I figure it this way: If THEY were truly patriotic, they would make us better cars.

    Sorry if I offended anybody with my opinion, but it is what it is.

  11. Yea but that under powered Euro Trash won’t pull my 21 foot bass boat.
    Actually I have no problem buying European or Japanese cars. Not after the union bail out. And in some cases more of the component parts are made here than on the American stuff. But when it comes to full size trucks the Europeans have no idea and the Japanese are not too much better off.
    Somebody should be prosecuted for this ignition switch problem.

  13. I ran into a 97 Ford with the power stroke…IH mostly….I was told…. It had 86K original miles and only pulled a 5th wheel….I put 12K miles on it in the last 3 months and it got almost 17 miles a gallon pulling heavy trailers in the wind, uphill, downhill, sideways….but DAMN, I had to give a little over 6K for it…and it’s only got a cassette player….

  16. Wow! A Pittance.

    I’m a little foggy, but did GM re-pay Taxpayers their FULL amount or did we take a loss? Perhaps that’s why the settlement was so meager.? GM isn’t doing well, so the GOV probably put pressure to settle for less screwing those poor people out of their justice.

    One wonders what the Lawyers walked away with… wink, wink.

  20. Funny how this defect came to light just after the treasury sold the last of the GM stock we had (for a loss).
    I’m not waiting for the expose on how higher-ups at GM were told to bury this defect while Obama still owned (and ran) the company.

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