In the past two months, General Motors has recalled more than 3.3 million vehicles globally, as the company's struggles with its ignition switch recall continue. Now, in its latest attempt to regain control of the situation, the company is tapping company veteran Jeff Boyer for the new role of vice president of global vehicle safety. CEO Mary Barra has also said that the company would take a $300 million charge in the first quarter to help pay for costs associated with the recall, and that more such announcements can be expected in the future as GM continues to deal with this.
On Tuesday's Investor Beat, host Alison Southwick and Motley Fool analysts Jason Moser and Mike Olsen look at just how big of a mess this is for GM. While this could end up being extremely costly both financially and in terms of the company's public image, Jason and Mike discuss how when it comes to automakers making big mistakes, consumers have surprisingly short memories.
Then, the guys look at four stocks making moves on the market today. Amazon.com announced that it will release a video streaming device in early April, to compete with devices such as Roku, Apple TV, and Google's Chromecast. Microsoft stock was up today, on news that new CEO Satya Nadella may unveil the Office suite of software for the iPad on March 27, a move that could generate as much as $2.5 billion in revenue for the company. GameStop shares fell today, after Wal-Mart announced that it will now let customers trade in used video games in exchange for gift cards. And Hertz announced earnings, along with the news that the company will spin off its equipment rental business into a separate publicly traded company.
And finally, Jason and Mike each pick one stock they'll be watching closely in the week ahead. Jason looks at newcomer to the 3-D printing space ExOne, known for its focus on commercial rather than consumer printers, as well as its metal printing capabilities. Meanwhile, Mike looks at Flowers Direct, and tells investors why this network of florists is a fundamentally misunderstood retailer, with some very enticing share buybacks on the horizon.
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