General Motors Co.’s bid to freeze a lawsuit over faulty ignition switches may compromise public safety, plaintiffs told a judge in California, calling the automaker’s claim that its 2009 bankruptcy shielded it from the old GM’s liabilities “irrelevant” and a “red herring.”
General Motors Co. doesn’t have to tell car owners they should park the 2.59 million vehicles it recalled over faulty ignition switches, a federal judge ruled, rejecting a bid for what would’ve been an unprecedented order.
Confidence among U.S. homebuilders rose less than forecast in April as sales and prospective buyer traffic stagnated, showing the residential real estate market struggled to improve after a harsh winter.
For about two years, General Motors Co. engineer Brian Stouffer tried to figure out why faulty ignition switches now linked to at least 13 deaths were causing cars to stall. His quest was thwarted by uncooperative colleagues, inaccurate data and a rotating cast of managers.
General Motors Co. anticipates taking a first-quarter charge of $1.3 billion primarily for the cost of recall-related repairs that may lead to the automaker’s first quarterly loss in more than four years.
If everyone had kept quiet, it could have been the most valuable parking spot on earth. Convenient only to the careworn clothing stores clustered in the southern end of downtown Nogales, Arizona, it offered little to shoppers, and mile-long Union Pacific trains sometimes cut it off from much of the city for 20 minutes at a time.