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General Motors CEO Provides Few Details In Appearance Before Congress

It was only two months ago that Mary Barra, freshly crowned as the new General Motors chief executive officer, visited Washington DC as an esteemed guest of First Lady Michelle Obama for the State of the Union address. On Tuesday, Barra returned to the Capitol under more strained circumstances. For more than two contentious hours, she took questions from members of a House of Representatives subcommittee investigating General Motors years-long delay in initiating a recall of millions of vehicles that contained a defect that has killed at least 13 people. Why did GM accept faulty ignition switches that were below the company's set specfications? Why did GM learn about the problem in 2001 yet take no action until 2014? Will GM compensate victims' families even though the company's bankruptcy may limit its liability? Those were a few of the questions members of the House Oversight and Investigations Subcommittee asked. Few concrete answers were forthcoming. For her part, Barra sidestepped most of the questions, saying she wouldn't have information needed to answer them until an internal review is completed. David Friedman, the administrator of the National Highway Traffic Safety Administration, testified after Barra. The biggest news that emerged from the hearing was that General Motors has retained attorney Kenneth Feinberg to advise the company on its civil and legal responsibilities. He has made a career of resolving disputes and serving in a 'fixer' role, serving as the chief of the federal government's September 11th Victim Compensation Fund, as an administrator of compensation fund for victims of the BP Deepwater Horizon disaster and a similar fund for victims of the Boston Marathon bombing. Barra, who has been GM's CEO since January but been with the company since 1980, expects to meet with Feinberg on Friday, and have a concrete plan within the next 30-60 days. Yet Barra would not say for certain Tuesday that GM would compensate the victims at all. Despite repeated questions from Rep. Diana DeGette (D-Colo.), Barra did not outline the company's intentions. "I assume GM is hiring (Feinberg) to help identify the size of claims and then compensate the victims? Is that right," DeGette asked. "Is GM willing to put together some kind of a compensation fund for these victims that Mr. Feinberg will then administer?" "We've hired him to help assess the situation," Barra replied. "So really, there's no money involved at this point," DeGette asked.

First 2015 Chevy Corvette Z06 Sells For One Million Dollars

NASCAR team owner Rick Hendrick loves buying first-built Chevrolet models for charity. He paid $1 million to buy the first production 2014 Corvette Stingray Convertible and $650,000 to get the first 2014 Chevy Camaro Z/28. Hendrick's latest purchase happened at the Barrett-Jackson auction in Palm Beach where he got into a bidding war to pay $1 million to get the first 2015 Corvette Z06. The bidding came quick with the car reaching $100,000 within 3 seconds and hitting $500,000 in about 35 seconds. The money from the sale was donated to the Karmanos Cancer Institute. Related Gallery Harley Earl's Corvette Up For Auction

GM starting to talk seriously about 200-mile EV

We've been hearing word of a 200-mile EV from Chevrolet for a while now. First, there was General Motors then-CEO Dan Akerson hinting at a $30,000, 200-mile EV that would take the competition by surprise. Then Akerson confirmed that GM is working on a 200-mile EV in a speech in March. LG Chem, which supplies batteries to GM and other automakers, recently said it was working on batteries for EVs with a range of 200 miles. GM's head of global product development Mark Reuss just re-confirmed that there are plans for an EV with a 200-mile range, and sources have told Automotive News what that car will be. While Reuss didn't mention anything about a specific model or platform, two undisclosed sources with knowledge of GM's plans have said that an EV with a range of about 200 miles is indeed in the works, and that it will be based on the Chevrolet Sonic. The sources also gave a timeline for the car, saying it is slated for sometime in 2017. According to Reuss, the plan is for Chevy to offer a lineup of electric cars, with the 200-mile EV joining ranks of the Chevrolet Volt and the Spark EV. He didn't hint at a timeline, but if the sources are correct, we could see a Sonic EV being built within a few years. Reuss sees demand for it, too. When speaking of the Spark EV, currently only available in California and Oregon, he says that "people wish we would sell it all around the country." If he's right about that, it's not difficult to imagine people taking interest in Chevrolet's 200-mile electric car, whether or not it's a Sonic.