Posted on 04/06/2010 8:50:38 AM PDT by foutsc
I love that sign on the podium!
IN BREAKING NEWS: Toyota takes a $16.4 million dollar charage due to the rising costs of ObamaCare.
particularly after the dude who managed to call 9-11 and drive his runaway vehicle without an accident or incident to a complete stop without assistance.
i heard dick morris say last night on hannity that this month they will vote on a bill to give the treasury secretary the power to take over any corporation he deems is on the brink of failure...fire its ceo etc...break it up and sell it off....has anyone else heard this...??...
The runaway Toyota cases are so unusual, I’m inclined to consider sabotage....
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Prezactly!!!!
There seems to be a coordinated plan to bankrupt Toyota or send the company into the red.
Toyota is hated because it is a non-union company.
See here :
http://www.google.com/hostednews/ap/article/ALeqM5i3CZPJXvtZZ46SY9bcMupivluKswD9ETDST00
Toyota faces legal dilemma as well as record fine
By KEN THOMAS (AP)
WASHINGTON — Already flooded with hundreds of private lawsuits, Toyota now faces a dilemma stemming from safety problems on several popular models: whether to accept a record $16.4 million fine that could be cast as an admission of wrongdoing, or fight the government at the cost of more bad publicity.
The Japanese automaker was weighing its options after the Transportation Department charged Monday that Toyota had hidden a “dangerous defect” and had failed to quickly alert regulators to the safety problems in such models as the best-selling Camry and Corolla. The company has two weeks to accept or contest the penalty.
The proposed fine is the most the government could levy, but further penalties are possible under continuing federal investigations.
Toyota Motor Corp. has recalled more than 6 million vehicles in the U.S., and more than 8 million worldwide, because of acceleration problems in multiple models and braking issues in the Prius hybrid.
In announcing the proposed fine, Transportation Secretary Ray LaHood said documents obtained from the automaker show that Toyota knew of the problem with the sticking gas pedals in late September but did not issue a recall until late January. The sticking pedals involved 2.3 million vehicles.
“We now have proof that Toyota failed to live up to its legal obligations,” LaHood said in a statement. “Worse yet, they knowingly hid a dangerous defect for months from U.S. officials and did not take action to protect millions of drivers and their families.”
For those reasons, LaHood said, the government is seeking a fine of $16.375 million, the maximum penalty possible. That dwarfs the previous record: In 2004, General Motors paid a $1 million fine for responding too slowly on a recall of nearly 600,000 vehicles over windshield wiper failure.
Toyota has been named in 138 potential class-action lawsuits over falling vehicle values and nearly 100 personal injury and wrongful death cases in federal courts nationwide.
CLICK ABOVE LINK FOR THE REST
tOYOTA SALES UP 42% F- OBAMAS GM.
Scary. Very scary.
IIRC it’s in the “financial reform” bill that the commie in chief wants to pass this summer.
I wouldnt hesitate to buy another Toyota, and I was a GM man up until I bought my first one.
It has 100,000 miles on it and has been the best car I ever owned.
This isn’t crony capitalism, it is outright fascism: Govt power used to harm competitors of gove business.
Now some might say “16M+ isn’t that much to Toyota.” They’d be right. But that’s not what matters. This is a trial ballon or an innoculation. Much more in many more industries guaranteed to follow...
I’ve been thinking sabotage for a long, long time. Toyota makes too good a car.
$16 million? BFD. Daimler just got scammed for more than $100 million by a US court for selling cars in some third world countries (where a little greasing the palm is usual and expected - if you want to do business there, that is. EVERYONE does it). Talk about arrogant overreaching.
Exactly. In other news.. Toyota dealership breakrooms have increased the price of soda by $.10 a can. The elevated prices are expected to last 1 to 2 weeks.
Toyota will crush GM. Unfortunately, we’ll all wind up $ubsidizing the failed union shop til its eventual death.
GM Union bosses got a full massage
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