2.22.2010

Document: Toyota Saved $100 Million By "Negotiating" Sudden Acceleration Recall With Feds


Be careful what you put in writing. Dad probably told you that. But according to a report in this morning's Los Angeles Times, Toyota Motor Company execs put together a presentation in July, 2009 that talks about how the company saved $100 million by negotiating with the U.S. Government to limit a recall linked to sudden acceleration claims..from all vehicles possibly involved to 55,000 floor mats.

The Times also reports Toyota realized cost savings for delaying the implementation of a federal safety rule, stalling or mitigating safety regulations, and avoiding a government probe of a vehicle Toyota had issued a buyback program on.

Stand by for more. The House Oversight and Government Reform Committee has 50,000 documents in its posession from Toyota...and will get 5,000 more today from a former company counsel who says Toyota tried to hide evidence of safety defects from regulators and the public.

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