GM Admits Some Employees “Didn’t Do Their Jobs” Handling Ignition-Switch Defect

GM Admits Some Employees “Didn’t Do Their Jobs” Handling Ignition-Switch Defect

GM executives will be back in the hot seat on Capitol Hill tomorrow. This time, they’ll be getting a grilling from the Senate Commerce Committee about the ignition switch defect that killed at least 13 people and the decade it took to publicly identify the problem and issue a recall. [More]

SEC Chair Mary Jo White

SEC Head Wants Companies That Break Laws To Actually Admit They Broke Laws

Businesses are in the habit of making amends for their errors without actually admitting they made any errors.  Weasel words hide a multitude of sins; “mistakes were made” and “customers were affected.”  A company can agree to pay millions of dollars to rectify a mistake or action they do not legally agree to having made. It’s a legal tangle that would be funny if it weren’t tied to so much real-world wrong: “Here’s a billion dollars to fix a crime that we don’t acknowledge we committed.” [More]