Posted on 09/17/2015 8:43:19 AM PDT by upchuck
Ending the sprawling criminal investigation into its failure to disclose an ignition defect that killed at least 124 people, General Motors has agreed to pay $900 million to settle the case with the Justice Department, according to documents released by the agency.
The Justice Department did not file charges against any individual G.M. employees. It has also agreed to defer prosecution for three years on one count of wire fraud and one count of engaging in a scheme to conceal a deadly safety defect, provided that the automaker pays the financial penalty, submits to independent monitoring and continues to accept and acknowledge responsibility for its conduct. It is, in effect, corporation probation.
(Excerpt) Read more at nytimes.com ...
At least 124 people killed. No jail time for any GM employee. Shame on the Just-Us Dept.
A payment into Bammy’s $ta$h?
If you don’t give us effective control over your company, we’ll put you in jail.
Fascism, anyone?
Shakedown.
Follow the money.
The government is loathe to prosecute their own.
900 million that will go directly to Iran. Lovely.
It should have been more severe. Car companies have got to realize that it will be more expensive for them to pay the fines and have employees go to jail than to cover up something that they could fix.
Also, I’m not talking just about the immediate recall and repair, but about the redesign of that part. How hard would that be? But some of these problems were known about for 10 years and the company did nothing.
How’s that union ownership working out, GM?
So, what does the government do with that $900 mil?
I have a Jeep with a Takata airbag recall problem , Fixed once then failed again as with hundreds of thousands installed in many makes . To date there is no word on any fix or settlement . I cannot sell the car because it will not pass the state inspection . The airbag has caused many very serious injuries when it deploys without reason . Metal parts causing severe lacerations to the face and head .
The amount of the settlement is appropriate.
The punishment is not appropriate.
At some point, after say five incidents, GM should have known they had a problem that risked lives.
Even if they can’t get proof of who knew what and when, they can approximate. Justice is sometimes a sledgehammer, and makes collateral damage.
Multiple persons should be in jail.
And who will pay for the settlement? Where will GM go to get the 900 Mil?
Toyota was hit for 1.2B. It’s good to be the gummint’s motor company.
I wonder who much of this will go to liberal groups.
Part of THE BIG DEMOCRAT PARTY MONEY LAUNDERING MACHINE!
The shareholders.
GM sells a number of additional shares, and dilutes shareholder value.
Shareholders revolt, replace the board, who replaces management.
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