» Tomorrow: Standard & Poor’s releases S&P/Case-Shiller index of home prices for October. The Conference Board releases the Consumer Confidence Index for December.
» Thursday: Labor Department releases weekly jobless claims. Freddie Mac, the mortgage company, releases weekly mortgage rates.
General Motors Co. is recalling almost 100,000 vehicles to fix two problems that could cause the rear axle cross pin to shift out of place and the passenger-side airbag not to work. GM said in postings with the National Highway Traffic Safety Administration that the airbag recall affects almost 96,000 2005 to 2007 model year versions of the Cadillac CTS.
The automaker said that repeated flexing of the sensing mat in the passenger seat can cause the mat to bend or fold so much that the sensor might not detect a passenger is sitting in the seat. Therefore, the sensor would not activate the airbag in the event of a crash.
The axle recall affects almost 1,300 2011 model year versions of the Cadillac Escalade, Chevrolet Avalanche 1500 and Silverado 1500, as well as the GMC Sierra 1500. Dealers will replace sensing systems and rear axle cross pins free of charge.
The axle recall is expected to begin in January. GM did not say when the airbag recall would begin. Owners can contact Cadillac at 866-982-2339, Chevrolet at 800-630-2438 and GMC at 866-996-9463. They can also consult the GM owner center website at www.gmownercenter.com.