GM To Reveal Compensation Plan

By: News 10
By: News 10
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General Motors' ignition switch compensation plan will be made public this morning.

The fund will be open to anyone harmed or killed in a crash in which the airbags did not deploy, and people in other cars that were hit by GM cars involved in the ignition switch recall.

Lawyers predict hundreds, if not thousands of claims could be filed.

GM says 13 deaths are linked to the defective ignition switches in: Chevy Cobalts, Saturn Ions, and other cars.

Industry experts think the fatality number is much higher.

The compensation fund is expected to cost GM billions, some Wall Street analysts are saying at least two billion.

GM consultant Ken Feinberg will unveil the plan at 10 A.M. this morning in Washington, DC.

He says the compensation fund will only pay for death or injury claims.

GM CEO Mary Barra says the automaker will begin processing claims on August 1st.


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