Chief Executive Officer Mary Barra: GM

GM: Chief Executive Officer Mary Barra has apologized for the lives lost in accidents tied to an ignition switch defect and promised an aggressive investigation into why it took so long to do anything even though some at GM knew about the faulty switches as early as 2001, according to Bloomberg. Last week a contrite Barra, whos been CEO since January, fielded sharp questions during hearings in the U.S. House and Senate. Congress and the Justice Department are investigating what happened before the Detroit-based automaker recalled 2.59 million small cars in February and March and Many institutional investors in General Motors Co. GM say they re keeping faith in the stock after the recall crisis wiped out more than $3 billion in shareholders value over four weeks. Why in the world they didnt deal with it back then is beyond me, but it seems to me now that they re doing the best job they can given the circumstances, said Scott Schermerhorn, chief investment officer of Concord, New Hampshire-based Granite Investment Advisors Inc., which oversees $600 million and as of Dec. 31 owned 464,469 GM shares. Barra is being very candid. (news.financializer.com). As reported in the news.