GM recalls of cars due to fire risk. General Motors' 1.5 million units of recall due to a engine risk is a serious matter and cannot go unnoticed. "General Motors Corp is recalling nearly 1.5 million Buick, Chevrolet, Oldsmobile and Pontiac mid-sized cars due to a potential leak of engine oil that could cause an engine fire.The recall applies to the 1997-2003 Buick Regal; 1998-2003 Chevrolet Lumina, Monte Carlo and Impala; 1998-99 Oldsmobile Intrigue; and 1997-2003 Pontiac Grand Prix, GM said in a filing with the National Highway Traffic Safety Administration. A total of 1,497,516 vehicles, all equipped with a 3.8 liter engine, are involved in the recall." In fact yesterday a top Wall Street analyst warned today that a bankruptcy filing by General Motors Corp. seems more likely in part because the government may have to take some losses on its own loans to the automaker.
What is interesting is that at this moment on Tuesday morning there is no information about the GM recall in its investor's relation or News section of the General Motors' website. We do know that GM and the U.S. automakers were hurting. My question is that how much will this GM recall further hurt the automaker. I found an interesting comment about the GM Recall by the blogger of INTJ who writes the following: "If this was a truly serious risk... Fires would have been reported already, which makes me wonder about the validity of this claim.
