GM’s $35 Million Fine Accompanied by Heavy U.S. Oversight
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General Motors Co. won’t be able to extricate itself from regulatory troubles stemming from its recall of 2.59 million small cars by writing the U.S. government a check.
Apart from the record $35 million fine, which amounts to less than two hours’ worth of GM’s projected 2014 revenue, the Detroit automaker yesterday agreed to oversight by the U.S. National Highway Traffic Safety Administration down to what phrasing to avoid in safety communications and who must attend certain meetings.