General Motors (GM) Compensation Fund Expert Kenneth Feinberg spoke with Fox Business Network (FBN) regarding the five people who brought injury claims to GM’s compensation fund as a result of defective ignition switches who then rejected the settlement offers. Feinberg responded saying, “I predict that in the next few weeks those five upon reflection will come back into the fund.” On why he predicts their return Feinberg said, “emotion,” and, “people as you can understand get very emotional when you offer money in lieu of a death of a loved one or a physical injury.” Feinberg goes on to say, “money is a pretty poor solace I must say.”
Kenneth Feinberg on whether the five rejected claims will file lawsuits:
“I predict that in the next few weeks those five upon reflection will come back into the fund.”
Kenneth Feinberg on whether he will offer those that come back more money:
“No, they will see that the fund has provided appropriate compensation. Those five people will think it over and I predict they will come back in and take the money.”
Kenneth Feinberg on why the five rejected the settlement:
“Emotion. I see in these claims GM, BP, 9/11, Boston Marathon , Virginia Tech, it’s not the money and it’s not the process people as you can understand get very emotional when you offer money in lieu of a death of a loved one or a physical injury. Money is a pretty poor solace I must say.”
