In an original hour-long documentary, CNBC tells the story of one of America's most iconic companies, now caught in a deepening crisis. Following the dark days of its descent into bankruptcy, General Motors fought its way back to health, only to confront evidence of a potentially deadly defect and accusations of a corporate cover-up.
Now, after linking thirteen deaths and 31 accidents to a faulty ignition switch, GM has announced a recall of some 2.6 million cars. The defect can cause these cars to suddenly stall while in motion, making it difficult to steer and brake, and also disabling the airbags. GM insists the vehicles are safe to drive, while some critics are demanding the affected cars be kept off the road until they can be repaired.
As GM undertakes this massive recall, questions are mounting over why company officials didn't act sooner to inform the public about the flawed part, which was used in the Chevy Cobalt and five other models before it was replaced with a safe alternative. Regulators and lawmakers are probing who at GM knew of the safety issue, and when.
Others, including the families of those killed and injured, want to know why the federal agency responsible for auto safety failed to detect a problem and prompt a recall sooner. As the number of legal claims and possible victims continue to grow, GM is conducting its own internal investigation to determine why the issue took more than a decade to correct. Correspondent Phil LeBeau takes viewers inside the still unfolding
Scandal and reports on a company under intense scrutiny.
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