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Inside this issue
The 'GM Nod:' 315 Scathing Pages on General Motors' Culture
GM Launches Compensation Program for Crash Victims
Global Automaker Tax Rates Rising on Higher Profits
Privacy an Issue in Auto Technology, Expert Says
UAW's Williams: 'No More Concessions'
Robert Ross Named an Ambassador of the NADA Charitable Foundation
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
The 'GM Nod:' 315 Scathing Pages on General Motors' Culture

A scathing portrait of General Motors Co.'s corporate culture emerges from the 315-page report on the auto maker's mishandling of a deadly defect in ignition switches used on as many as 2.6 million cars. In the report, investigator Anton Valukas says information about the switches, which could abruptly slip from the on position, stalling the vehicles and disabling airbags, bounced around an “astonishing number of committees.” Employees evaded responsibility with what CEO Mary Barra described to Mr. Valukas as “the GM Nod,” a reference to meetings at which participants appeared to nod in agreement that action should be taken, then did nothing. Mr. Valukas describes the “GM Salute,” as “a crossing of the arms and pointing outward towards others, indicating the responsibility belongs to someone else, not me.” Click here for some highlights of Mr. Valukas's findings.
Source: The Wall Street Journal

Editor's note: For more information on the GM recall, go to www.gmignitionupdate.com or www.safercar.gov.

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GM Launches Compensation Program for Crash Victims

General Motors plans to launch a program to compensate crash victims or families affected by an ignition switch problem that is linked to at least 13 deaths in crashes of older GM cars. The company said it expects the program will start accepting claims Aug. 1, but didn't specify how much money will be involved. Guidelines and other details will be developed in the coming weeks by compensation expert Kenneth Feinberg, GM said.
Source: The Associated Press
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Global Automaker Tax Rates Rising on Higher Profits

The effective tax rate of global automakers and suppliers rose to 28.4 percent in 2013 because of higher profits and changes to deferred tax assets. That rate is up from 24.9percent two years prior, according to data compiled by professional services company PricewaterhouseCoopers LLP. Effective tax rate is a measure of taxes paid as a proportion of net income. “With very few exceptions, the global automotive industry had a very strong performance in 2013, buoyed by continued growth in China, stabilization in Europe, and another year of recovery in North America from both a sales and assembly perspective,” said Neil Bristol, PwC's U.S. automotive tax leader, in a statement.
Source: The Detroit News
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Privacy an Issue in Auto Technology, Expert Says

Car technology is advancing at a rapid pace. But automakers and manufacturers are in the very early stages of managing the privacy and security of information gathered by that technology, industry officials say. Every time you turn the key of a newer car with an infotainment system or other technology, it knows your location, driving behavior, physical dimensions and dining, gas and traveling preferences. And, whether the public realizes it or not, there are few regulations that limit who can access that information.
Source: The Detroit News
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UAW's Williams: 'No More Concessions'

Newly elected United Auto Workers president Dennis Williams urged members Thursday to join the fight to “take back” the country that has been “handcuffed by extremists.” Williams, 61, elected Wednesday to replace outgoing president Bob King, also said its time for the union to stand up and accept no more concessions in negotiations with corporations. But during his 30-minute speech in front of more than 1,000 elected union delegates, Williams did not specifically mention eliminating the controversial two-tier wage system — one of the top reasons many delegates said they voted for the former Marine. The new UAW president addressed the subject during a press conference later in the afternoon, reiterating a previous statement that he wants to “bridge the gap” of the two-tier wage structure.
Source: The Detroit News
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Robert Ross Named an Ambassador of the NADA Charitable Foundation



Robert P. Ross, Sr.

Jenell Ross, a trustee with the National Automobile Dealers Charitable Foundation and immediate past chair of the American International Automobile Dealers Association, named her late father, Robert P. Ross, Sr., as an Ambassador. To become an Ambassador, a dealer, company or association or makes a tax-deductible contribution of $10,000 in their name or in recognition of a loved one, living or deceased. Ambassadors are then eligible to provide $1,500 grants every three years in perpetuity. Donors with three gifts of $10,000 or more to the program receive the title Ambassadors of Distinction and can present a $2,000 grant every year in perpetuity. For more information or to become an Ambassador, contact the NADA Foundation at (703) 821-7102 or foundation@nada.org.
Source: NADA Public Affairs

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Quotable

"The board, like management, is committed to changing the company's culture and processes to ensure that the problems described in the Valukas report never happen again."

   
-- GM Chairman Tim Solso, commenting on the results of an internal investigation following the automaker's ignition switch recall, Automotive News, June 5

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