GM Ignition Switch Issue Surfaced in 2001
General Motors knew of an issue with its ignition switch several years before it has previously acknowledged.
The company said in a federal filing Wednesday that it discovered an issue with the Saturn Ion ignition switch in 2001 during pre-production development. General Motors (GM,Fortune 500) has previously said it first learned of ignition switch issues in 2004.
The document said a 2001 internal GM report noted "an ignition switch design change had solved the problem."
It wasn't clear from the document if the issue discovered in 2001 was related to the issue that led to the recently announced recall of 1.4 million cars in North America. The issue cited in the recall has beenlinked to 13 deaths.
But it said a 2001 internal report noted "an ignition switch design change had solved the problem."
GM said late Wednesday it has been conducting "a more in-depth analysis of the information related to the vehicles" it recalled.
"Today's GM is fully committed to learning from the past while embracing the highest standards for quality and performance now and in the future," said spokesman Alan Adler.
See more at CNN Money.
Target Security Update
This morning on 'New Day' - New questions about the security breach at Target and other retailers. A new report suggests at least 6 more stores have yet to tell customers their personal information has also been stolen.
Join us at 6am ET on CNN.
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Get caught up with our piece from Friday, January 17th:
Investigators probing the recent holiday season cyberattack are warning retailers about sophisticated malware that potentially affected a large number of stores.
A homeland security official said Thursday that the malware is described in a government report that has been distributed to retailers.
The warning follows a massive breach at Target that compromised credit card numbers and other personal information on up to 110 million customers.
A private firm working on the investigation, iSIGHT Partners, said the hackers behind the malware "displayed innovation and a high degree of skill in orchestrating the various components of the activity."
"It's not necessarily the specific malware components individually that make this new or sophisticated, but it's really the size or scale of this operation at large that makes this unique," said Tiffany Jones, senior vice president at iSIGHT Partners.
Target and Neiman Marcus Hacks: The Latest
Many questions remained unanswered Monday after Target said its holiday shopping hack was worse than first believed, and another major retailer said it too had been breached.
Neiman Marcus said over the weekend that cards of some customers had been used fraudulently, but provided little additional information.
It follows a breach at Target that could become the largest in U.S. retail history. The company acknowledged Friday that up to 110 million customers were affected.
"Clearly we are accountable and we are responsible—but we are going to come out at the end of this a better company and we are going to make significant changes," Target CEO Gregg Steinhafel said in an interview with CNBC.
In addition to the 40 million customers of the chain's U.S. stores whose credit and debit card data was stolen during the busy holiday shopping season, hackers lifted personal information - including names, addresses, email addresses and phone numbers - for 70 million customers.
There may be some overlap between the two groups, but Target (TGT, Fortune 500)couldn't say how many were counted twice.
Among those 70 million people may be customers who haven't shopped at Target recently, but whose information was stored in company databases. It was unclear if online shoppers were impacted by the personal information breach, and spokeswoman Molly Snyder said only the information was collected and stored "during the normal course of business."
See security expert Scott Schober weigh in above
New Corvette to Come with Built-in Dashcam
It looks like a video game, but is real life.
General Motors unveiled on Sunday a system that pulls together driving performance data with dashcam video - giving drivers of its flashy Stingray sports car a way to record and share their experience behind the wheel.
The Performance Data Recorder will be available on the 2015 Corvette Stingray, the automaker said, calling it an "industry first."
See this story and more in today's "Money Time" segment with Christine Romans.
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