Earlier this month, GM was fined $35 million by the government for failing to take timely action after discovering potentially deadly safety defects in vehicle ignition switches. Apparently, that was only the tip of the iceberg for the troubled auto manufacturer.

Detroit News’ David Shepardson reports:

Via Detroit News:

“What GM did was break the law,” Transportation Secretary Anthony Foxx said last week. “They had the information and they told no one. Literally, silence can kill.”

The deeper GM sinks into the morass of its own making, the more suspect its management processes, oversight and alleged bias for candor and transparency. The switch problem emerged nearly a year before the company ordered a recall in February. Where was the internal investigation that would have alerted senior management and the board of directors?

GM’s epic screw-up is exposing an entire industry and the people who work in it to a heightened level of accountability. Good news, that, for consumers. But it’s hard not to conclude the increased scrutiny could have a chilling effect on product development; would boost the rate of recalls; and would reduce profits because of higher reserves to finance the recalls.

Heckuva job, GM!

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Related:

‘People died, truth was hidden’: Fox Business’ Charles Payne calls $35 million fine for GM ‘bogus’