General Motors CEO Apologizes

Company issues three separate recalls for airbag and break issues.
3:00 | 03/18/14

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Transcript for General Motors CEO Apologizes
General motors has announced a new round of recalls as the company shifts into damage control mode, its new CEO is admitting went, and I do quote terribly wrong, end quote. Rebecca Jarvis is here to explain how this affects millions of drivers. Rebecca, good morning to you. Reporter: Hi, josh. Good morning, this new recall as you say affects 1.5 million SUVs, luxury cars and full-size vans for model years 200 to 2014 because of problems associated with air bags and brakes. Those problems are not linked to any deaths at this point but the company is trying to prove its commitment to safety following its recall last month for faulty ignition switches blamed for 12 deaths. A recall the subject of a federal investigation now. In a new video message CEO Mary barra says she's conducting an intense review of their internal practices and the company is spending $300 million on repairs, but, josh, despite all of this, despite all of it, money analysts on Wall Street think the company's reputation and its stock price will hold up over the longer term, josh. Certainly something to keep an eye on. Rebecca, thank you for that.

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