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GM crash victim payment plan won't have limit
http://hosted.ap.org/dynamic/stories/U/US_GENERAL_MOTORS_VICTIM_COMPENSATION?SITE=VANOV&SECTION=BUSINESS&TEMPLATE=DEFAULTGM crash victim payment plan won't have limit
By TOM KRISHER
AP Auto Writer
Jun 28, 9:09 PM EDT
DETROIT (AP) -- When Kenneth Feinberg announces the terms of General Motors' plan to pay victims of crashes caused by bad ignition switches, he'll have an open wallet.
Feinberg, the country's most well-known compensation expert, is scheduled to reveal the terms Monday, and GM CEO Mary Barra has said there will be no cap on payments.
Also, GM won't have any say in Feinberg's awards, she told a U.S. House subcommittee during a hearing earlier this month.
"He will have complete independence," Barra said under questioning. "General Motors wants to reach with this compensation program everyone who lost a loved one due to this issue, or who suffered serious physical injury."