Last week General Motors was fined $US35 million because it failed to disclose defects in car ignitions which have been linked to driver deaths. This is the maximum available penalty under US law. Just for the record, GM’s market capitalisation [value] is $100 billion.
The fine is because GM failed to tell the Department of Transport for more than four years that ignition switches were failing, and air bags were not deploying.
US Secretary of Transportation said people’s lives could have been saved if GM had acted differently.
“What we will never accept is a person or a company that knows danger exists and says nothing. Literally silence can kill,” the Secretary said. “What GM did was break the law … They failed to meet their public safety obligations.”
No shit Sherlock. 13 people actually DIED [at least]. Which is why i loved watching John Oliver’s take on the GM story.
General Motors relaunched itself as a business and brand in 2010, after its GFC woes. As part of this relaunch, they announced a new Company Vision:
At the new General Motors, we are passionate about designing, building and selling the world’s best vehicles. This vision unites us as a team each and every day and is the hallmark of our customer-driven culture.
They also stated 5 principles “that guide us in everything we do”:
Safety and Quality First: Safety will always be a priority at GM. We continue to emphasize our safety-first culture in our facilities, and as we grow our business in new markets. Our safety philosophy is at the heart of the development of each vehicle. In addition to safety, delivering the highest quality vehicles is a major cornerstone of our promise to our customers. That is why our vehicles go through extreme testing procedures in the lab, on the road and in our production facilities prior to being offered to customers.
A brand promise is a promise made and kept. Simple as that. I’ll never buy a car from General Motors.