Doing The Right Thing
Posted by Trevor Roberts on Jul 6, 2014 - 7:20:17 PM
UNITED STATES—By now, I’m sure most of you have heard of the news involving auto giant General Motors and the debacle with the ignition switch crisis that has resulted in the loss of multiple lives. GM announced on June 30 new details involving their compensation package for those impacted by the ignition switch debacle.
An important note to acknowledge is the fact that the driver, passengers in the vehicle, pedestrians and even individuals in other vehicles who may have been impacted by a collision can be compensated.
The details of exactly what constituents filing a claim would be providing proof that the ignition switch was responsible for resulting in a crash where someone was seriously injured or worse: killed. Monetary compensations can range anywhere from $20,000 upwards to a $1 million. In addition, more than $300,000 can be compensated for families who lost a loved one for pain and suffering.
While many are not completely sold on what GM is doing, I must give high praise to the company for not solely ignoring the issue at hand and realizing that they were at fault and they have to do something for those impacted by their haste to take action nearly a decade ago when the problem was first noticed. Is it upsetting that someone from GM didn’t take action sooner resolving the issue?
Absolutely, but at this point, the fact that the company acknowledged that they were responsible is a first. Not many companies would do that. Second, they have publicly announced steps they are taking to remedy the situation, not only internally, but externally. Is it enough? It depends on who you ask: For some, yes, for others not so much; but GM is making strides, in my opinion.
The one issue that has many concerned is whether you can actually put a price on a life? The answer to that question is no. You can’t put a price tag on a human life as it's priceless, I guess, in a sense the monetary package is a way of forcing GM to pay some form of retribution for what has transpired at their hands. This isn’t to say those who take part in the compensation package won’t attempt to go to a higher court for an even larger settlement.
I’m certain this will happen with many who were impacted by the outcome, for some a monetary compensation doesn’t even come close to what they’ve loss. They may be aimed at seeking criminal sanctions against the auto giant for not taking further steps to ensure the safety of its customers. Was it negligence? Absolutely! Should more people be held accountable? Without a doubt, but that is something that those inside GM will have to deal with, as it's not impacting the company on a sales front at the moment, many are still purchasing vehicles from the company.
One thing to note, the company is taking every single precaution possible with its vehicles from this point forward, recalling any vehicles where they suspect a potential default at hand. The last thing the company needs is another scandal dealing them a fatal blow.