As his company continues to circle the drain, Toyota President and CEO Akio Toyoda wants everyone to know that it’s not just Toyota drivers that are getting hurt, it’s a little bit of him too. [More]
Transportation & Infrastructure
Transportation Secretary LaHood & Toyota's Lentz Defend Themselves To Congress
By 2.23.10
Both Transportation Secretary Ray LaHood and Toyota U.S. President James Lentz are scheduled to appear before the House Committee on Energy & Commerce this morning, but in prepared remarks released before the hearing, these two fine chaps attempt to shrug off many of the accusations hurled at both sides of the Toyota recall debacle. [More]
Congress Rips NHTSA A New One Over Toyota Debacle
By 2.22.10
Following this weekend’s revelation that Toyota bigwigs were bragging to each other about saving $100 million by convincing the National Highway Traffic Safety Administration to drop an investigation into a recall of the company’s Camry and Lexis vehicles, Congressmen Henry Waxman, Chair of the House Committee on Energy & Commerce and Bart Stupak, Chair of the Subcommittee on Oversight & Investigations, broke out their typewriters to voice their opinions in no uncertain terms to Transportation Secretary Ray LaHood. [More]
Grand Jury Issues Subpoenas, Opens Criminal Investigation In Toyota Recall
By 2.22.10
Answering all those people who asked, “Shouldn’t the Justice Department be the ones handling the Toyota recall hearings?”, the car company confirmed today that both federal prosecutors and the Securities and Exchange Commission have already dropped a load of subpoenas on their desks. [More]
Toyota Bragged About Saving $100 Million With 2007 Floormat Recall
By 2.22.10
You know those scenes toward the end of James Bond movies where the bad guy goes on and on about his elaborate plan and what a genius he is? That never happens in real life, right? No, in the real world the bragging is done in “confidential” documents that are never meant to see the light of day… but always do. Just ask the folks at Toyota. [More]
New General Motors CEO To Receive $9 Million Compensation Package
By 2.20.10
Ed Whitacre, new CEO of General Motors, will receive a $1.7 million salary and $9 million total compensation package. That’s about twice what his predecessor Fritz Henderson received. Don’t cry for Henderson, though–he’s making almost $3,000 per hour consulting for GM for twenty hours a month. [More]
Congress Issues Subpoena For Toyota Recall Documents
By 2.19.10
Shortly after Toyota chief Akio Toyoda accepted an invite from Congress to appear before the House Committee on Oversight and Government Reform next week, committee Chairman Edolphus “Ed” Towns of New York and Ranking GOP Member Darrell Issa of California issued a subpoena to Dimitrios Biller, the car giant’s former National Managing Counsel in the U.S., for “all documents relating to Toyota motor vehicle safety and Toyota’s handling of alleged motor vehicle defects and related litigation.” [More]
Toyota Boss Accepts Invite From Congress, Unsure Of What To Wear
By 2.18.10
Setting up what is sure to be a thrilling showdown like something out of a Highlander movie, Toyota’s President and CEO Akio Toyoda has decided to accept Congressman Ed Towns’ formal invitation to appear before the House Committee on Oversight and Government Reform. [More]
Baby Bracelets, Pacifier Clips Recalled Because Lead Is Apparently Not Good For Your Infant
By 2.18.10
Take a look at this cute little baby bracelet made by Allreds Design (also known as Hidden Hollow Beads) of Utah. It’s the perfect little trinket to bling up your toddler — and give her lead poisoning. [More]
Toyota's Toyoda Gets Formal Invite To Appear Before Congress
By 2.18.10
In the weeks since it was announced that the U.S. Congress would be holding hearings on the current massive recall of Toyotas, the car giant’s president, Akio Toyoda, had been saying “Thanks, but no thanks,” to the idea of appearing before the Committee on Oversight and Government Reform. And then yesterday, he softened a bit, saying he would consider attending the hearing if given a formal invitation. Well, Mr. Toyoda… Ask and ye shall receive. [More]
How Bad Would Another Recall Be For Toyota?
By 2.18.10
As the National Highway Traffic Safety Administration and Toyota look into whether or not complaints of steering problems in 2009 and 2010 Corollas merit a recall, it’s worth investigating both the potential financial and public relations costs for the auto giant. [More]
Toyota Boss Slams Brakes On Speaking To Congress
By 2.17.10
Even though there’s been talk of issuing a subpoena to Toyota President Akio Toyoda, compelling him to speak before Congress, the big boss at the recall-happy car manufacturer has decided to let others do the talking for him. [More]
All Future Toyotas Will Have Override System To Cut Engine Power
By 2.17.10
According to Reuters, Toyota announced today that it would add a brake-override system to all future cars. The system would cut power from the engine when the accelerator and brake pedals are applied at the same time. [More]
Toyota Throttles Back On Production At Two U.S. Plants
By 2.16.10
With their sales sinking as they deal with the massive recall of 8 million vehicles, Toyota announced today that they are trimming back production at two U.S. factories in an effort to avoid an overstock of unsold automobiles. [More]
Morning Sickness Remedy Found To Contain Lead And Arsenic
By 2.16.10
Morning sickness sucks. And if you want to make it even worse, pick up some calabash chalk. The FDA is now saying the traditional morning sickness remedy — also called nzu, poto, calabar stone, mabele, argile or la craie — has been found to contain lead and arsenic. [More]
Chevy Resurrects John Mellencamp "Our Country" Ads For Olympics
By 2.16.10
If you’ve been having flashbacks to the fall of 2007 while watching the Olympics on NBC this week, you might want to blame Chevy, who decided to dust off their love-it-or-hate-it “Our Country” ad campaign for the winter games in Vancouver. [More]
GM Executive Complains About Being Underpaid
By 2.16.10
The Treasury Department now owns 61% of GM, but apparently the new owners are being stingy. The Detroit News says GM Vice Chairman Bob Lutz said Friday that the top 25 senior executives (whose pay packages are being reviewed by the Treasury) are “way, way, way” underpaid. [More]
