Ignition Switch Recall May Cost $400M | News | HMG LLP

The Willis Report | GM Predicts The Ignition Switch Recall Will Cost $400M

August 31, 2017

General Motors reported a much lower second-quarter profit on Thursday due to numerous recalls and the expected cost of at least $400 million for a compensation fund for those killed or injured by a defective ignition switch linked to at least 13 deaths.

Is $400 Million Enough?
According to Bob Hilliard, "...there is absolutely no way that they know the total death count and injury count, that's a number I think that's designed to send a message to Ken Feinberg, who they are touting as being independent, and I believe he is, and it's a number that they grabbed out of thin air...I think this fund will be exhausted pretty quickly."

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