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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: 6043
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: 5367
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: 1467
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: 4615
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: 2356
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: 684
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: 2019
Loc: Montebello, CA
Toyota got their hands caught in the cookie jar by the bear trap at the bottom of it.
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1996 Toyota Avalon - "The Beast"

The Poodle Empire will conquer the Galaxy. All Cats must die!

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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: 764
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: 8516
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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2012 Chevrolet Cruze Eco

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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: 1287
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: 735
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: 3318
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: 1788
Loc: MTL, CANADA
The US gov could use the money LOL
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50/50 Redline/Pennz Plat 5w30/ Fram TG filter
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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: 9034
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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2003 Echo >349K miles;Supergard 5W-[23]0;
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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: 2912
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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