Posted on 02/09/2011 11:43:32 AM PST by jazusamo
One year after federal prosecutors opened a criminal investigation in to Toyota's unintended acceleration safety issues, a ten month investigation came to the conclusion that there were no electronic flaws that led to accidents involving Toyota vehicles. The causes were attributed to driver error and sticky accelerator pedals and floor mats. These were the exact causes that Toyota pointed to when congressional leaders decided to attack the automaker at a time when General Motors was struggling to regain sales after exiting its bankruptcy.
The SEC subpoenaed documents from Toyota back in February of 2010 when the criminal investigation began. Members of Congress piled on to the assault with Rep. Henry Waxman (D-California) sending a letter to Toyota and the Department of Transportation that stated, "First, the documents appear to show that Toyota consistently dismissed the possibility that electronic failures could be responsible for incidents of sudden unintended acceleration. Second, the one report that Toyota has produced that purports to test and analyze potential electronic causes of sudden unintended acceleration was initiated just two months ago and appears to have serious flaws. Third, Toyota's public statements about the adequacy of its recent recalls appear to be misleading." Political theater ensued during congressional hearings with representatives lambasting Toyota's chief executive, Akio Toyoda. A humbled Mr. Toyoda apologized for any perceived wrongdoing by Toyota. Perhaps now that the US government's investigation exonerates Toyota, it is Mr. Toyoda that deserves an apology. The question of whether any of the damaging accusations against Toyota had an ulterior motive of benefiting General Motors also should not be ignored.
The damage caused by accusations suggesting Toyota was guilty of covering up major safety shortcomings is measurable. Of the top ten selling automakers in the US market, Toyota had the worst performance in 2010 with annual sales growth of 0%. This compares to an industry average of 11% growth. The next poorest performer in the top ten was General Motors with 7% growth. It is indisputable that the accusations levied by the US government severely damaged Toyota's reputation. Is it just coincidental that certain members of our government that have such a vested interest in seeing GM succeed led a campaign that had such a negative impact on the largest foreign, non-unionized competitor to GM?
Regardless of whether or not ulterior motives played a part in the Toyota witch hunt, this is just another example of the conflicts that arise when our government becomes so intrusive in to the private sector. Will the SEC and Department of Transportation show favoritism to a politically powerful General Motors? The only way to be assured that such conflicts will not arise is to have our government exit the private sector and not repeat the unprecedented intrusion ever again. The market value of GM may go up or it could come down. It is not the job of the Treasury Department to market-time taxpayer investment by deciding when is the best time to exit the bailed out auto sector. Treasury should sell its stake in GM, Chrysler and Ally Financial as soon as possible and put the unseemly political process behind us.
UHH Yes!
I don’t think ‘duh’ really captures the extent of this concept.
Is the Pope catholic?
This is not just in the Auto industry; it's in EVERY industry and business that is non-Union. Thuggery now infests the White House, Congress, and the Judiciary (let alone the NEW NLRB)....
Look for the Union Label; then wipe your ass with it....and buy elsewhere.
Another of the many things we’ve tried to get across all along: this is the kind of stuff that invariably happens when the government has a stake in a company. It starts picking winners and losers. How this latest revelation can surprise anyone is beyond me.
Duh!
Did anyone really believe the government? It was an obvious ruse to reduce or eliminate Toyota sales during the GM and Chrysler bankruptcy. Note that by using NASA they could drag it out for almost a year. Also, note the high number of law suits in the mill because of this action causing millions more in unnecessary costs. Atlas Shrugged action?
Absolutely right! Obama and thugs are going all out for payback to all unions.
Actually, GM/UAW didn’t have to lift a finger when their “parent corporation,” the Federal Government of the United States, was perfectly willing to do all the heavy lifting for them.
LOL! I don’t know what Ms. Toyota’s face looks like but the rest is Grade A stuff!
Was GM/UAW Behind Toyota Bashing?
I say no.
I say Obama and his ilk, and Obamamedia, was directly behind it. Just like he treated former President Bush, just like he treats Sarah Palin, just like he treats the Tea party.....
I’ve done my part, I bought a 2011 Camry last Friday, the odometer just passed 100 miles today.
I had a thousand times that many miles on my ‘05 Corolla and not one single problem ever.
I’ve always believed this was true since day one of Toyota bashing. All part of Obamanism that was sweeping the country at the time.
Hah! Me too, bought a 2011 Camry 3 months ago, had a 99 before that. Good cars.
I believed it was bashing from day one. Have other family members that have and now own them and have had no problems.
That's stock manipulation, a crime if I recall correctly, of which this writer is accusing Congresscritters.
Yes... and at the behest of Obama and his thugs. AND, it was all done using our tax money.
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