Earlier this week, GM announced its plan to compensate the injured and families of those killed in accidents linked to Chevrolet Cobalts with defective ignition switches.
About 150,000 of those recalled vehicles were registered in California, and in some cases payouts could reach up to several million dollars per victim. But how do you put a price tag on pain and suffering, or a life lost due to a company's mistake?
In GM's case, the company turned to attorney Kenneth Feinberg. In the past, Feinberg also managed compensation funds for the victims of 9/11, the BP Gulf oil spill, and the Boston Marathon bombing.
He joins Take Two's Alex Cohen to explain how he's become the guy to determine who gets what after a tragedy or accident.