Billionaire auto industry investor Kirk Kerkorian died on Monday, June 15, at the age of 98 in Los Angeles. At various times, he was a major shareholder in GM and Ford, and Kerkorian attempted to buy Chrysler twice.
General Motors is announcing further cuts in production of the Chevy Sonic and Buick Verano at the Orion Assembly plant. Sales of both vehicles are down through May 2015. The plant is also laying off about 100 workers in phases starting in July.
General Motors CEO Mary Barra confirmed that the Justice Department interviewed her last year as part of sweeping investigations into ignition switch recalls that have been blamed for 111 deaths so far.
The bankruptcy judge deciding whether New GM is responsible for ignition switch cases from before 2009 is putting all of the suits on hold until the US Court of Appeals decides whether to uphold his ruling.