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Government was told of Toyota claims in 2004: insurer - 2/21/2010 2:19:22 AM

Brain

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It seems no matter what the issue is, the corporations come first.

Government was told of Toyota claims in 2004: insurer

http://www.reuters.com/article/idUSTRE61D2TS20100220

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RE: Government was told of Toyota claims in 2004: insurer - 2/21/2010 9:15:49 AM

Musicmystery

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Naw, it's simple.

Just cut taxes and deregulate. The free market will kill off the drivers and destroy the defective vehicles, correcting the market.

Companies who kill too many of their customers will see their sales drop as they lose repeat business.

We just have to fix it so the family can't sue and so the insurance company doesn't have to pay.

Then the economy will be great again.

< Message edited by Musicmystery -- 2/21/2010 9:16:16 AM >

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RE: Government was told of Toyota claims in 2004: insurer - 2/21/2010 5:19:44 PM

servantforuse

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The corporations come first ? I'm not so sure. There are apparently now 34 deaths do the recall. It is expected that it will cost Toyota anywheres from 10 billion to 20 billion before this is settled. The corporation will lose and every shareholder will also lose.

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RE: Government was told of Toyota claims in 2004: insurer - 2/21/2010 7:51:51 PM

Brain

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It is Toyota's own fault,

Documents: Toyota boasted saving $100M on recall By KEN THOMAS, Associated Press Writer Ken Thomas, Associated Press Writer – 2 hrs 17 mins ago

WASHINGTON – Toyota officials claimed they saved the company $100 million by successfully negotiating with the government on a limited recall of floor mats in some Toyota and Lexus vehicles, according to new documents shared with congressional investigators.

Toyota, in an internal presentation in July 2009 at its Washington office, said it saved $100 million or more by negotiating an "equipment recall" of floor mats involving 55,000 Toyota Camry and Lexus ES350 vehicles in September 2007.

The savings are listed under the title, "Wins for Toyota — Safety Group." The document cites millions of dollars in other savings by delaying safety regulations, avoiding defect investigations and slowing down other industry requirements.

The documents could set off alarms in Congress over whether Toyota put profits ahead of customer safety and pushed regulators to narrow the scope of recalls. Two House committees are holding hearings this week on the Japanese automaker's recall of 8.5 million vehicles in recent months to deal with safety problems involving gas pedals, floor mats and brakes.

The world's largest automaker has been criticized for responding too slowly to complaints of sudden acceleration in its vehicles, threatening to undermine its reputation for quality and safety.

The documents were turned over to the House Oversight and Government Reform Committee and obtained by The Associated Press on Sunday. The presentation was first reported by The Detroit News.
http://news.yahoo.com/s/ap/20100222/ap_on_bi_ge/us_toyota_recall;_ylt=AlAwFHZLplWBgHAtJGyp2g6s0NUE;_ylu=X3oDMTNncW9hOGZrBGFzc2V0A2FwLzIwMTAwMjIyL3VzX3RveW90YV9yZWNhbGwEY2xcyb7fNvZGUDbW9zdHBvcHVsYXIEY3BvcwMzBHBvcwM5BHB0A2hvbWVfY29rZQRzZWMDeW5fdG9wX3N0b3J5BHNsawNkb2N1bWVudHN0b3k-

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RE: Government was told of Toyota claims in 2004: insurer - 2/21/2010 7:54:03 PM

servantforuse

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Who else would be at fault. What's the point ?

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RE: Government was told of Toyota claims in 2004: insurer - 2/21/2010 7:59:44 PM

Jeffff

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The recall will hurt Toyota in the short term. Long term?.. probably not much. Remember when Ford SUV's were rolling over? Ford is ok today.

You can test a vehicle forever, but until you have 20,000 on the street in varying conditions, no one really knows what will happen.

5 years from now, this will all be a faint memory

_____________________________

"If you don't live it, it won't come out your horn." Charlie Parker

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RE: Government was told of Toyota claims in 2004: insurer - 2/21/2010 8:24:02 PM

Brain

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The point is they thought they were so smart boasting they saved $100 million and if they have to pay $10-$20 billion they created that liability by choosing to avoid the problem in the first place. If they had corrected the problem when they first became aware of it the costs would never have risen to $10 billion.

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RE: Government was told of Toyota claims in 2004: insurer - 2/21/2010 8:31:22 PM

Brain

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I don't care if Toyota does recover. I don't care about Toyota so much as I do about the dead people who lost their lives. In fact, one of those people is my mother's cousin. We initially thought because he was an elderly man he drove over her because it was human error. She was helping her husband back into the garage

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