Gm's Solution: Keep On Truckin'
Why, one might ask, would these people want to buy another GM truck? On July 19, General Motors took a big step toward clearing away 36 class actions from owners of its 1973-87 C/K full-size pickup trucks with sidesaddle gas tanks--the ones critics say tend to burst into flames in a side collision. GM's proposal: Issue $1,000 certificates good toward the purchase of any GM light truck to the 6 million or so current owners of old models. That offer is subject to court approval, and GM still faces efforts by federal regulators to recall the pickups, as well as lawsuits involving those killed or injured in fires. How much money General Motors makes or loses on the offer depends on how heavily the certificates are used and whether they spur purchases that weren't already planned.