Posted on 05/20/2014 9:30:41 AM PDT by Nachum
Over the weekend we titled our summary of GM's unprecedented avalanche of recalls so far in 2014 - the year in which the company's criminal practice of covering up its faulty products became a congressional scandal - as follows: "GM Set To Surpass Total Recall Record This Year." Three days later we are happy to report that while Detroit, we not only have a big recall problem, we also have a new record, after moments ago GM just announced another 4 recalls affecting 2.4 million cars. This brings the total number of vehicle investigations since the start of the year to 35, and with today's four latest fiascos, has initiated a whopping 29 recalls. More importantly, this also means that the number of domestic recalls rises to 13.6 million, smashing the previous record of 11.8 million recalls in 2004, and brings the number of global recalls to 15.2 million: or a stunning 56% greater than the 9.7 million cars GM sold in all of 2013!
(Excerpt) Read more at zerohedge.com ...
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So they bascially took a huge taxpayer bailout and used it to make the worst cars they made in decades. Great investment.
SUCCESS!
Who didn’t see this coming? Government cannot run anything without destroying it.
Everything the Democrats touch turns to crap.
See what happens when the Unions are in Charge?
Real GM Chairman Obama’s Appointed chairman and puppet Board of Directors committed fraud on the folks who bought the GM IPO when they swore there were no hidden liabilities. Whoops! The behavior of Barry’s criminal gang at all levels is betrays “tells that there were known hidden warranty defects not just in the “old GM” designed cars (pre-bankruptcy...yes GM DID go bandrupt) but in in post-bankruptcy designs.
Obamas Dept of transportation safety behavior betrays “tells” that Barry’s minions conspired to hide the defects of GM cars and NOT to issue recalls, IMO. This is the appearance of what has been going on IMO as a retired Certified Fraud Examiner (CFE).
The US Gov’t owned a controlling interest in GM until fairly recently and will be sued by the shareholders if the stock tanks when the lawsuits starts. The stock appears to be being propped up so far, likely by Barry’s Wall Street friends, so far.
Yep, that's why capitalism works(or is supposed to until a communist bails em out). If your product isn't good enough you go under.....or you figure out a way to make it better. I bought my last gm vehicle in 2003, before that I had 4 others and I have to say they all were pretty good vehicles but between the obama bailout and their apparent total lack of quality I don't see a time in the future when I;ll spend my $$ on another.
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