General Motors Board of Directors Levies Fines Against Toyota

WillowTree

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Now you knew that was coming didn't you? the oath of this regime is to punish success. success is evil.
 

theDoctorisIn

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You mean Daniel Akerson of the Carlyle Group, David Bonderman of TPG Capital, Robert Krebs (Rail magnate), Patricia Russo (former CEO of Lucent/Alcatel) and Ed Whitacre (former CEO of AT&T) have the authority to fine Toyota?

That's news to me.
 

txlonghorn

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Makes you wonder who's next huh? Oh wait, that would be us....
 

Avatar4321

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What a surprise. Let's just chase Toyota from the United States. Those workers dont need jobs.
 

Toronado3800

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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, LaHood said. 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 winds
I disagree with the poster's premise.

This sounds at least 16 times as bad as the wiper fine from a few years back.

I also don't think 16 million is a big deal to GM or Toyota. More a public relations / future legal problem.
 

Avatar4321

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I disagree with the poster's premise.

This sounds at least 16 times as bad as the wiper fine from a few years back.

I also don't think 16 million is a big deal to GM or Toyota. More a public relations / future legal problem.
16 million is 320 - 533 jobs a year. May not be a big deal to you, but i bet those families think it is.
 

theDoctorisIn

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I disagree with the poster's premise.

This sounds at least 16 times as bad as the wiper fine from a few years back.

I also don't think 16 million is a big deal to GM or Toyota. More a public relations / future legal problem.
16 million is 320 - 533 jobs a year. May not be a big deal to you, but i bet those families think it is.
Are you arguing that companies should do whatever they want, because punishing them will cost people jobs?

Where do you draw the line?
 

txlonghorn

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I disagree with the poster's premise.

This sounds at least 16 times as bad as the wiper fine from a few years back.

I also don't think 16 million is a big deal to GM or Toyota. More a public relations / future legal problem.
16 million is 320 - 533 jobs a year. May not be a big deal to you, but i bet those families think it is.
Oh, they'll just hire 530 more census takers and call it even.
 

Avatar4321

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I disagree with the poster's premise.

This sounds at least 16 times as bad as the wiper fine from a few years back.

I also don't think 16 million is a big deal to GM or Toyota. More a public relations / future legal problem.
16 million is 320 - 533 jobs a year. May not be a big deal to you, but i bet those families think it is.
Are you arguing that companies should do whatever they want, because punishing them will cost people jobs?

Where do you draw the line?
And what exactly have they done to justify taking 16 million?
 

Toronado3800

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WASHINGTON -- The government accused Toyota of hiding a "dangerous defect" and proposed a record $16.4 million fine on Monday for failing to quickly alert regulators to safety problems in gas pedals on popular models such as the Camry and Corolla.
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, LaHood said. 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."
Big government steps in like that to make it less likely you'll die on the street driving some sub-standard vehicle. Like in Capitalist India or Mexico.

Right, wrong, or pointless the regulation is there. The money will come from Toyota, to our government, and be passed on however the government spends money. Trust me, they don't save it. Toyota will loose money in the interest it could earn on the money at the least, will invest that much less in TV ads, R&D, or ????, or have to pay to borrow it, or will TRY to pass it on to the consumer.

Personally I think folks would drive safer with a six inch spike sticking out of their steering wheel pointed towards their hearts instead of an air bag. But hey, democracy keeps me from regulating safety features. ;)
 
OP
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The point is that the government owns a large portion of GM.

They shouldn't be sitting on panels criticizing their competition.

The hazards of government owning part of private corp
 

mudwhistle

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You mean Daniel Akerson of the Carlyle Group, David Bonderman of TPG Capital, Robert Krebs (Rail magnate), Patricia Russo (former CEO of Lucent/Alcatel) and Ed Whitacre (former CEO of AT&T) have the authority to fine Toyota?

That's news to me.
Sock puppets.

Obama and the Dems give them their marching orders.
 

Full-Auto

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You mean Daniel Akerson of the Carlyle Group, David Bonderman of TPG Capital, Robert Krebs (Rail magnate), Patricia Russo (former CEO of Lucent/Alcatel) and Ed Whitacre (former CEO of AT&T) have the authority to fine Toyota?

That's news to me.
Sock puppets.

Obama and the Dems give them their marching orders.
democrats with union help tried deperately to discredit toyota. The american people realizing just how honest democrats are, assisted toyota in a 40% sales gain.
 

rightwinger

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I feel so bad for Toyota...

Everyone is picking on them
 

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