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GM After Bailout: More Recalls

Reuters

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BY RYAN VLASTELICA

(Reuters) – General Motors Co (GM.N) began the new year by announcing three new vehicle recalls on Thursday, as the ignition switch crisis continued to dog the automaker after millions of vehicles were recalled in 2014.

No crashes or injuries were reported in the latest round of recalls involving 83,572 sport-utility vehicles and pickup trucks. GM expects that fewer than 500 will be affected by the defect, an ignition lock actuator with an outer diameter that exceeds specifications.

Still, the issue could spook consumers and investors.

Ignition system problems were behind the record number of recalls made in 2014 by GM, which has struggled to rebuild its reputation following its 2009 bankruptcy.

The recalls hit GM’s share price, which fell 14.6 percent during 2014, a year in which shares of rival Ford Motor Co (F.N) rose about 0.5 percent.

GM recalled more than 2.5 million vehicles in 2014 after accidents that caused more than 40 deaths. The compensation program, which is accepting claims until Jan. 31, has received more than 2,200 claims for injuries and deaths as a result of the issue.

In the primary recall announced on Thursday, the outsized ignition lock actuator can lead to the ignition key getting stuck in the “start” position. If the vehicle is driven that way and experiences a “significant jarring event,” the ignition lock cylinder could move into the “accessory” position, affecting engine power, power steering and power braking.

“Also, the timing of the key movement into the accessory position relative to crash sensing could result in the air bags not deploying in certain crashes,” company spokesperson Alan Alder said in a statement.

The latest issue was discovered in an internal review following warranty party returns, GM said, and covers certain Chevrolet Silverado light-duty and heavy-duty pickups, as well as Avalanche, Tahoe and Suburban; GMC Sierra light duty and heavy-duty pickups, and Yukon and Yukon XL; Cadillac Escalade, Escalade ESV and Escalade EXT. It concerns models from 2011 and 2012, and 2007-2014 vehicles that have been repaired with defective parts.

Another of the announced recalls concerns a faulty hose clamp in 56 Chevrolet Silverado HD and GMC Sierra HD pickup trucks from the 2015 model year.

The third covers 152 of the 2015 Chevrolet Silverado and GMC 1500 pickup trucks over concerns the rear axle shaft could fracture while the vehicles were being driven.

(Reporting by Ryan Vlastelica; Editing by David Gregorio)

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TRANSCRIPT: Trump’s remarks with tech executives.

Caiden Cowger

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On Wednesday, Donald Trump and his advisers met with 13 top tech executives to discuss policy and innovation.

Tim Cook, CEO, Apple Inc.:

“Tim Cook, very good to be here. And I look very forward to talking to the president-elect about the things that we can do to help you achieve some things you want.”

Donald Trump, President-elect:

“Great, Tim.”

Safra Catz, co-CEO, Oracle Corp.

“I’m Safra Catz, I’m CEO of Oracle. I’m actually privileged and honored to even be here, and we are looking forward to helping you, and your administration.”

Donald Trump:

“Thank you. Thank you, Safra.”

Elon Musk, CEO, Tesla Motors Inc. and Space Exploration Technologies Inc.:

“Elon Musk, the CEO of SpaceX and Tesla, building rockets and cars and solar stuff in the U.S. I’m really excited about expanding our manufacturing footprint in the U.S.”

Gary Cohn:

“Gary Cohn, here as the delegate for NEC (National Economic Council), working with the president on driving his economic policy.”

Wilbur Ross, investor, appointed U.S. Commerce Secretary:

“Wilbur Ross, nominee for commerce secretary.”

Stephen Miller, appointed Senior Adviser to the President for Policy:

“Stephen Miller, senior adviser for policy, and everyone thank you for being here.”

Satya Nadella, CEO, Microsoft Corp.:

“Satya Nadella, CEO of Microsoft.”

Ginni Rometty, CEO, International Business Machines Corp.:

Ginni Rometty, the CEO of IBM, and also great to be here to work on that [inaudible] agenda.”

Chuck Robbins, CEO, Cisco Corp.:

“Chuck Robbins, CEO of Cisco. Likewise, everything has been said, we’re happy to be here and happy to help and happy to work with you.”

Jared Kushner:

“Jared Kushner.”

Reince Priebus:

“Reince Priebus.”

Steve Bannon, senior counsel and chief strategist of the President-elect:

“Steve Bannon, chief strategist and senior counselor for the President-elect.”

Eric Schmidt, executive chairman, Alphabet Inc.:

“Eric Schmidt, Alphabet/Google, and completely agree with what’s been said.”

Alex Karp, CEO, Palantir Technologies Inc.:

“Alex Karp, CEO of Palantir hoping to help bolster national security and [inaudible].”

Brian Krzanich, CEO of Intel Corp.:

“Brian Krzanich, CEO of Intel.”

Donald Trump, Jr., executive vice president, The Trump Organization:

“Donald Trump, Jr.”

Ivanka Trump, executive vice president, The Trump Organization:

“Ivanka Trump.”

Eric Trump, executive vice president, The Trump Organization:

“Eric Trump, and welcome.”

Brad Smith, president, Microsoft:

“Brad Smith, president of Microsoft, and like Satya [Nadella], please to be here.”

Jeff Bezos, CEO, Amazon.com Inc.:

“Jeff Bezos, Amazon.com. I’m super excited about the possibility that this could be the innovations administration.”

Larry Page, CEO, Alphabet:

“Larry Page, Alphabet and Google, probably the youngest company here.”

Donald Trump:

“Looks like the youngest person.” [Laughs]

Mr. Page:

“Really excited to be here.”

Sheryl Sandberg, chief operating officer, Facebook Inc.:

“Sheryl Sandberg, Facebook. Excited to talk about jobs.”

Mike Pence, Vice President-elect:

“Mike Pence, governor of Indiana for a few more days, and Vice President-elect of the United States.”

Donald Trump:

“Well I just want to thank everybody. This is a truly amazing group of people. I won’t tell you the hundreds of calls we’ve had asking to come to this meeting, and I will say, and I will say Peter was sort of saying, ’No, that company’s too small.’ And these are monster companies. But I want to thank — I want to start by thanking Peter because he saw something very early, maybe before we saw it and of course he’s known for that in a different way. But he’s been so terrific and so outstanding and he got just about the biggest applause at the Republican National Convention. He’s ahead of the curve, and I want to thank you, man, you’re a very special guy.

So I want to add that I’m here to help you folks do well. And you’re doing well right now and I’m honored by the bounce. They’re all talking about the bounce, so right now everybody in this room has to like me at least a little bit, but we’re going to try and have that bounce continue and perhaps even more importantly we want you to keep going with the incredible innovation. There’s nobody like you in the world. In the world, there’s nobody like the people in this room.

And anything we can do to help this go along, and we’re going to be there for you and you’ll call my people, you’ll call me, it doesn’t make any difference, we have no formal chain of command around here. I’m honored to have Gary, the president of Goldman Sachs, left Goldman Sachs to do this, and Wilbur, everybody knows Wilbur, they never call him Wilbur Ross on Wall Street, they just say “Oh, it’s Wilbur.” There’s nobody like him.

And we’re gonna do fair trade deals. We’re going to make it a lot easier for you to trade across borders because of a lot of restrictions, a lot of problems that I think you’ll see. And if you have any ideas on that, that would be, that would be great because there are a lot of border restrictions and a lot of border problems, you probably have less of a problem than some companies, some companies have—you have some problems.”

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TRUMP MAKES DEAL: Carrier staying in the US, bringing 1k jobs to Indianapolis.

Caiden Cowger

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Just two months prior to holding office, President-Election Donald J. Trump has made a deal with Carrier, bringing 1,000 jobs back to Indianapolis.

“We are pleased to have reached a deal with President-elect Trump & VP-elect Pence to keep close to 1,000 jobs in Indy,” Carrier announced on their official twitter account, “More details soon.”

According to The New York Times, Trump and Vice President-elect Mike Pence, Indiana’s governor, will announce the deal at the Carrier company in Indianapolis on Thursday.

Carrier is a high-tech heating, air-conditioning & refrigeration solution company.

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SCROOGLED; MAINSTREAM MEDIA ARE NOT THE ONLY ONES WHO MANIPULATE THE GENERAL PUBLIC

George Lujack

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WRITTEN BY: GEORGE LUJACK

Google has recently been exposed for actively altering search recommendations in favor of Hillary Clinton’s campaign, as their search engine directs searchers to positive stories of Clinton, when negative stories about Clinton are queried.
Big businesses, such as Google and Facebook, have joined the mainstream media in subtle and overt manipulation of the American general public to manipulate them, screw them, and steer them in favor of liberal policies and liberal politicians.

https://www.youtube.com/watch?v=PFxFRqNmXKg

 

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