ASSOCIATED PRESS: Compensation expert Kenneth Feinberg’s number continues to rise to the dismay of the car company.
ASSOCIATED PRESS: Compensation expert Kenneth Feinberg’s number continues to rise to the dismay of the car company.
Feinberg and his aides are combing through claims filed before a Jan. 31 deadline to determine which are eligible for compensation. Each eligible death claim is worth at least $1 million under guidelines established by Feinberg, who was hired by GM to handle claims and make payments. As of Friday, his office had received 478 death claims and 3,834 injury claims. Of the injury claims, 87 have been determined eligible for compensation, up from 79 a week earlier.
Detroit-based GM was aware of faulty ignition switches on Chevrolet Cobalts and other small cars for more than a decade, but it didn’t recall them until 2014. On 2.6 million cars worldwide, the switches can slip out of the “on” position, causing the vehicles to stall, knocking out power steering and turning off the air bags.
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