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#3317104 - 03/19/14 02:54 PM Toyota pays $1.2-billion federal fine
tenderloin Offline


Registered: 12/16/02
Posts: 6227
Loc: Huntington Beach, CA

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#3317136 - 03/19/14 03:44 PM Re: Toyota pays $1.2-billion federal fine [Re: tenderloin]
friendly_jacek Offline


Registered: 05/04/03
Posts: 6416
Loc: southeast US
Nice.
Now, how much GM should pay then.

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#3317170 - 03/19/14 04:09 PM Re: Toyota pays $1.2-billion federal fine [Re: tenderloin]
wallyuwl Offline


Registered: 06/02/09
Posts: 1647
Loc: Lexington, KY
That's a lot of money. I don't trust Toyota, and haven't even looked at their options for our soon-to-be-purchased new vehicle.

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#3317173 - 03/19/14 04:12 PM Re: Toyota pays $1.2-billion federal fine [Re: tenderloin]
KCJeep Offline


Registered: 06/30/11
Posts: 6231
Loc: Mahzurrah!
Not some media spin but according to the FBI:

“Toyota put sales over safety and profit over principle,” said George Venizelos, assistant director of the FBI. “The disregard Toyota had for the safety of the public was outrageous. Not only did Toyota fail to recall cars with problem parts, they continued to manufacture new cars with the same parts they knew were deadly.”

And:

“Rather than promptly disclosing and correcting safety issues about which they were aware, Toyota made misleading public statements to consumers and gave inaccurate facts to members of Congress,”

Why some otherwise red blooded Americans think Toyota walks on water is beyond me. You won't find many saints in the car building business, or oil business for that matter, but the Toyota/Honda Kool aid drinkers I run into make no sense at all to me.
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#3317176 - 03/19/14 04:15 PM Re: Toyota pays $1.2-billion federal fine [Re: friendly_jacek]
Hermann Offline


Registered: 08/10/05
Posts: 2434
Loc: Kansas City
Originally Posted By: friendly_jacek
Nice.
Now, how much GM should pay then.


Looks like GM is on the hook for $30-$60 billion, if they have to pay the same amount per death. Looks like bailout time again.
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#3317179 - 03/19/14 04:18 PM Re: Toyota pays $1.2-billion federal fine [Re: Hermann]
RISUPERCREWMAN Offline


Registered: 07/29/08
Posts: 1011
Loc: RHODE ISLAND
Originally Posted By: Hermann
Originally Posted By: friendly_jacek
Nice.
Now, how much GM should pay then.


Looks like GM is on the hook for $30-$60 billion, if they have to pay the same amount per death. Looks like bailout time again.


Yup GM has surely got some serious issues comming up!
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#3317180 - 03/19/14 04:19 PM Re: Toyota pays $1.2-billion federal fine [Re: tenderloin]
Cristobal Offline


Registered: 01/02/11
Posts: 2306
Loc: Cal-Neva-Ari
Toyota got their hands caught in the cookie jar by the bear trap at the bottom of it.
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#3317185 - 03/19/14 04:25 PM Re: Toyota pays $1.2-billion federal fine [Re: Hermann]
Silverado12 Offline


Registered: 02/26/13
Posts: 1896
Loc: Central Virginia
Originally Posted By: Hermann
Originally Posted By: friendly_jacek
Nice.
Now, how much GM should pay then.


Looks like GM is on the hook for $30-$60 billion, if they have to pay the same amount per death. Looks like bailout time again.


Apparently GM didn't lie about the problems like Toyota, but who knows.
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#3317186 - 03/19/14 04:25 PM Re: Toyota pays $1.2-billion federal fine [Re: tenderloin]
sciphi Offline


Registered: 03/24/07
Posts: 9577
Loc: Upstate NY
And somebody takes yet another bash at GM. Start your own thread, don't pollute this one!

Good on the feds for making Toyota pay. Let the other makers doing similar/identical behavior be treated the same way.
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#3317189 - 03/19/14 04:28 PM Re: Toyota pays $1.2-billion federal fine [Re: tenderloin]
morepwr Offline


Registered: 01/17/12
Posts: 1718
Loc: ventura, ca
Where does the money they pay in fines go? Not that I really care either way but just curious.

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#3317202 - 03/19/14 04:45 PM Re: Toyota pays $1.2-billion federal fine [Re: tenderloin]
gman2304 Offline


Registered: 08/11/11
Posts: 1641
Loc: n.c.
I'll take some...my wifes 06 Avalon has had no less than 4 recalls since we have owned it. I'm not holding my breath though!

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#3317237 - 03/19/14 05:34 PM Re: Toyota pays $1.2-billion federal fine [Re: tenderloin]
dishdude Offline


Registered: 11/14/08
Posts: 6443
Loc: Phoenix
When you produce as many vehicles as GM and Toyota, some mistakes and design flaws are bound to happen. The bashing isn't necessary.
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#3317240 - 03/19/14 05:39 PM Re: Toyota pays $1.2-billion federal fine [Re: tenderloin]
Rolla07 Offline


Registered: 11/05/11
Posts: 2828
Loc: MTL, CANADA
The US gov could use the money LOL
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#3317251 - 03/19/14 05:53 PM Re: Toyota pays $1.2-billion federal fine [Re: dishdude]
simple_gifts Offline


Registered: 07/26/04
Posts: 10642
Loc: Middlesex County CT
Originally Posted By: dishdude
When you produce as many vehicles as GM and Toyota, some mistakes and design flaws are bound to happen. The bashing isn't necessary.


The fine isn't about producing design mistakes and flaws.

If you notice it was a criminal investigation.
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#3317252 - 03/19/14 05:54 PM Re: Toyota pays $1.2-billion federal fine [Re: friendly_jacek]
SatinSilver Offline


Registered: 01/24/08
Posts: 4369
Loc: Ohio
Originally Posted By: friendly_jacek
Nice.
Now, how much GM should pay then.


Interesting point since it's in the title of this article:

http://www.reuters.com/article/2014/03/19/us-toyota-settlement-idUSBREA2I0VB20140319

Last quarter Toyota made 4.99 Billion dollars in net income. So in 3 weeks they should be able to pay the fine if they stay on par with last quarter. Currently their reporting 35 billion in cash as well.
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