Mon June 30, 2014
GM To Announce Compensation Plan For Faulty Ignition Switches
Originally published on Mon June 30, 2014 12:32 pm
DAVID GREENE, BYLINE: We begin NPR's Business News with compensation from GM. Today, we're expecting General Motors to announce a plan to compensate victims of accidents caused by faulty ignition switches. GM says the switches were responsible for at least 13 deaths and 54 crashes. CEO Mary Barra has said that there will be no cap on payments. She says she's giving Kenneth Feinberg, who administered the government's $7 billion fund for 9/11 victims, complete independence in administering payouts. Feinberg is scheduled to release details of the eligibility and scope of the compensation program later today. Transcript provided by NPR, Copyright NPR.