General Motors received 33 more claims to its ignition-switch claim facility this week, which pushed the total to 4,345. The number of accepted cases increased by eight, including one fatality and seven injuries.
Chevrolet knows that the Bolt and Volt names can cause confusion, but the company is still deciding what to do about it. There's a possibility that the upcoming EV hatchback could wear a different moniker by the time it arrives in showrooms.
General Motors received 75 more claims from people about the automaker's faulty ignition switches. The number of eligible claims jumped up by 12, including four more for deaths and eight more for injuries.
General Motors is giving CEO Mary Barra, president Dan Ammann and product development boss Mark Reuss even more shares in the automaker in 2015 under the company's long-term incentive plan. Barra's stock could be worth around $3 million.
General Motors has retained Goldman Sachs and Morgan Stanley for "advice" on how to respond to activist investor Harry J. Wilson. He leads a group of four investment funds who want GM to spend $8 billion on a share buyback to raise its stock value, and he wants a seat on the board.
A former Obama aide, Harry J. Wilson, is leading a group of investment funds urging General Motors to buy back $8 billion worth of its stock, which could raise share prices. Wilson also wants a seat on the GM board.
The General Motors ignition switch compensation fund received 57 more reports this week that were postmarked before the January 31 deadline. The number of accepted claims ticked up slightly by one additional death and two more injuries.
GM is following up its Lambda-platform CUV stop-sale for possible cracks in their 18-inch Goodyear Fortera HL tires with a recall covering 5,876 examples of the 2015 Chevrolet Traverse, GMC Acadia and Buick Enclave. Goodyear already recalled about 48,512 of the tires.
For decades, Mark Bernhard has been the guy GM sends to places around the world to manage the finances of its international operations. Now he's returning home to Australia to oversee Holden's transition from manufacturer to importer.
Future Trucks To Show Correct Redline At 6,800 RPM
The 2015 Chevrolet Colorado and GMC Canyon are advertised as making 305 horsepower at 6,800 rpm. However, a buyer noticed that the tachometers in the trucks indicated the redline at 6,500 rpm. Turns out the tachs are incorrect, and GM is going to fix the graphic in future trucks.
At the end of January GM said it would hold pat on its dividend of 30 cents per share, leading investors to complain. This week it said it would increase the dividend 20 percent, and later this year would look at "further return of capital to shareholders" assuming it can get the recall fiasco concluded.
General Motors posted strong financial results for the fourth quarter quarter of 2014, but the figures weren't enough for the automaker to offset falling full-year figures, partially due to $2.8 billion in recall-related costs.
As the appeal process closes for General Motors' ignition switch recall compensation fund, the tally of claims stands at 4,180. That number might climb, though, because claims postmarked January 31 are still being accepted. As of the latest total, the attorneys found 51 deaths and 77 injures caused by the faulty parts.
General Motors is launching new entry-level trims for four of its popular models that slash prices by removing some content but mostly seriously cut into dealer margins. The changes let the brands advertise segment-leading prices to attract potential buyers into showrooms.