12:14 PM, Aug 4, 2014 • By GEOFFREY NORMAN
GM’s woes continue. As James R. Healey of USA Today reports:
Federal safety regulators say that not only are General Motors ignition switches defective, so is GM's website for determining if you are driving one of the defective cars.
The website is, of course, entirely the creation of the “new” GM. The one that Joe Biden tells us was so gloriously rescued by his boss. It cannot be blamed on the previous administration, Mitt Romney, the Tea Party, or anyone other than the company that was saved by the taxpayers. And this company has created a website where:
People who use the GM "VIN look-up" site are told their cars aren't part of an active recall if the repair parts aren't yet available, even when the cars are, in fact, being recalled. VIN is the vehicle identification number. GM and other automakers maintain websites that allow owners to check for recalls by plugging in their vehicle's VIN. The National Highway Traffic Safety Administration said late Friday that it "determined that owners of some recalled GM vehicles are receiving incorrect and misleading results" using the automaker's VIN look-up system.
Washington is on the case, however, and:
… said it told GM to fix the system and tell owners about the problem.
Feeling certain, no doubt, that this would take care of it and all would copacetic.
Wouldn’t it be nice, one thinks, if we could get a do-over and just let old GM go bankrupt?
Didn’t someone suggest that?
4:26 PM, May 23, 2014 • By GEOFFREY NORMAN
It has been days now (at least two of them) since General Motors has issued a recall on any of its cars. But then, the law of diminishing returns applies here. After the first 15 million, there aren’t that many GM vehicles left out there for recalling.
1:21 PM, May 21, 2014 • By GEOFFREY NORMAN
The bailout of GM – at a final cost to the Treasury of $10 billion and change – was a landmark event in evolution state capitalism, American-style. The company was saved, certain creditors were stiffed, the unions were protected, and the corporate culture, it seems, was not altered in any fundamental way.
8:42 AM, Apr 9, 2014 • By GEOFFREY NORMAN
The administration’s enthusiasm for GM extended to its electric car, the Chevy Volt. President Obama once said he’d like to drive one when he leaves office and no reason he couldn’t. There’s lots of inventory lying around.
10:14 AM, Apr 2, 2014 • By GEOFFREY NORMAN
The new CEO of the new General Motors testified yesterday before Congress and said that she is “deeply sorry” about the company’s negligence in selling cars that came standard with a flaw that could kill you. The company knew. A government regulatory agency knew. And if the administration of President Obama did not know, then one is inclined to wonder why not and go to the only possible explanation, which is incompetence. The administration rescued the company from bankruptcy, after all, using billions of taxpayer dollars. Should it not have taken a careful look at what the money was buying?
11:22 AM, Mar 31, 2014 • By GEOFFREY NORMAN
The script is familiar. General Motors’ top executive heading down to Washington to be grilled by Congress. As Joseph B. White of Market Watch reports, fifty years after the Corvair controversy that made Ralph Nader a household name:
3:46 PM, Mar 12, 2014 • By GEOFFREY NORMAN
Two car companies – Toyota and GM – some of whose vehicles are having engineering problems serious enough to be a safety risk and require massive recalls. One is investigated by Congress and the National Highway Traffic Safety Administration while the other is not … until very recently, that is. Toyota, the company that did face government investigation and sanctions is, of course, not even an “American” corporation. GM is. And was, for a time, a ward of the state.
10:12 AM, Dec 19, 2012 • By DANIEL HALPER
The American taxpayers stand to lose billions as General Motors today announced a plan to buy back 40 percent of the company owned by the federal government.
9:00 AM, Nov 5, 2012 • By EDWARD NIEDERMEYER
The auto bailout debate, already a triumph of narrative over reality, took another turn for the absurd last week as both presidential campaigns exchanged salvos over what amounted to a misunderstanding about Chrysler's plan to build Jeeps in China.
2:07 PM, Sep 4, 2012 • By DANIEL HALPER
Today is the first day of the Democratic convention in Charlotte. Coincidentally, GM, the embattled car company that was bailed out by the federal government, has some good news to report.
Sep 10, 2012, Vol. 17, No. 48 • By STEPHEN F. HAYES
If you missed Paul Ryan’s speech at the Republican National Convention last week and tried to play catch-up the next morning, you could be forgiven for concluding that nothing the Wisconsin congressman said was true.
Twelve hours after the speech, Josh Marshall, editor of the liberal Talking Points Memo, popular among journalists, asked: “Will the Paul Ryan Lying Thing Break Through in the Mainstream Press?”
Um, yes. It would.
11:24 AM, Aug 14, 2012 • By GEOFFREY NORMAN
Not so hot, it seems. First, there is the simple matter of costs.
The Treasury Department says in a new report the government expects to lose more than $25 billion on the $85 billion auto bailout. That's 15 percent higher than its previous forecast.
1:27 PM, Jun 5, 2012 • By DANIEL HALPER
Mitt Romney maintains that "President Barack Obama is holding on to the government's stake in General Motors to avoid an embarrassing financial loss before the election, and says he'd sell the stock quickly if he wins the White House," according to the Detroit News, which recently interviewed the Republican presidential candidate.