Tomahawk, WI 03/12/2014 (Basicsmedia) – Share Prices for General Motors Company (NASDAQ:GM) continued to decline throughout the last week,  as its delayed Cobalt recall created more than negative buzz for it. The recall has been delayed by over a decade, says National Highway Traffic Safety Administration, who also claim that General Motors Inc (NYSE:GM) knew the ignition switch fails under jittery conditions. They are now investigating to find proof of willful neglect in the responding to customer complaints.

Procedural Glitches Also Prohibited Auto-Regulators to Respond To Iterative Complaints

Four days ago, it was revealed in a news report that the auto-regulators dismissed the theory that ignition switch faults in Chevrolet Cobalt are causing deaths despite receiving an average of two complaints per month. The reason they put off a regulatory probe was that the individual complaints never amounted to a “sufficient evidence” to warrant “safety defect” probes. The auto-regulators’ method of identifying the causative pattern of events behind a spree of individually reported car crashes has been criticized in the past also. The Firestone tires in Ford Explorers for example were found to be responsible for 271 deaths in the late nineties, the auto-regulator failed to detect a pattern there also.

GM Stands Committed to Find Fault Within

Over 1.6 million Chevrolet Cobalt cars were recalled a decade after their launch, by CEO Mary Barra. Following up on her hands on strategy, the first-ever female CEO in automakers industry initiated an internal probe. General Motors Company (NASDAQ:GM) has now hired credible external third party investigators to join hands for a transparent probe. The third part investigator Anton Valukas who has credible record of accomplishments; primarily known for his services as a lead investigator in the regulatory probe of Lehman Brothers financial Collapse.

The National Highway Traffic Safety Administration has put a deadline for the internal probe report by the General Motors Co. (NYSE:GM). The US Justice Department has also initiated independent probe which will be lead by the Southern New York Office. Two separate house and Senate committees will also be looking into the matter in their own investigations.

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