GM IPO

General Motors is set to hold a major briefing on the results of its internal probe into the ignition switch debacle this morning, with early reports claiming that multiple employees could be terminated due to their role in the recall (or lack thereof).

At the top of the list is Ray DeGiorgio, an engineer who could be thought of as one of the problem's initiators, after he violated company protocol in 2006 by fixing the ignition switch defect without notifying regulators. DeGiorgio, along with the Chevrolet Cobalt's program manager, Gary Altman, have been suspended with pay since April 10. It's unclear if Altman will be terminated, an internal source told Automotive News.

Along with DeGiorgio, at least one vice president is likely to be sacked, along with other engineers and members of GM's legal team.

We have a reporter on the ground at the GM briefings, which start at 9:00 AM today. Look for plenty of coverage on the internal probe's findings throughout the day.