GM was for years a place where employees agreed to fix problems but never did, feared alerting superiors to car-safety concerns and avoided taking notes in meetings lest they be held liable for product shortcomings.
Former General Motors Co. Chief Executive Officer Rick Wagoner may have viewed a presentation that included a description of stalling issues with the Chevrolet Cobalt about three weeks before he resigned, the company’s internal investigation found.
General Motors Co. blamed bureaucratic delays and a culture of incompetence for the botched handling of auto-safety complaints, and Chief Executive Officer Mary Barra ousted 15 employees for their roles in mishandling the recall of millions of fatally flawed vehicles.
Jordan Hansell, who heads the luxury- aviation unit at Warren Buffett’s Berkshire Hathaway Inc., said people who point to private air travel as an example of widening inequality miss that his business creates well-paying jobs.
The hundreds of pages of documents released by lawmakers last week shed new light on General Motors Co.’s more than decade-long failure to respond to auto-safety complaints, underscoring the struggle ahead for Chief Executive Officer Mary Barra as she seeks to refocus on the company’s new fleet of cars.
Ally Financial Inc. investors who bought $2.38 billion of stock in an initial public offering yesterday join hedge fund manager Dan Loeb and private equity executive Stephen Feinberg seeking to profit from auto lending.