GM profit plummets on recall costs

GM profit plummets on recall costs
DETROIT: General Motors Co reported a lower second-quarter profit yesterday due to numerous recalls and the expected cost of at least $400 million for its victims' compensation fund for those killed or injured by a defective ignition switch.
Net income in the quarter fell to $190 million, compared with $1.2 billion a year earlier.
One-time items in the quarter totalled 47 cents a share. The quarter included the charge for the establishment of the victims' compensation fund, which GM said couldrise