2.03.2010

U.S. Transportation Secretary: "Stop Driving" Recalled Toyotas


Park 'em if you got 'em. That's the word from United States Secretary of Transportation Ray LaHood.

CNN reports that LaHood told a House of Representatives committee today that his advice to owners of Toyota vehicles currently under recall notices is to "stop driving it and take it to a Toyota dealer."

That's millions of owners and millions of cars.

Critics of the government's handling of this recall are starting to use the phrase "fear-mongering" and are pointing out that the government has a conflict of interest, since it owns a stake in two competing automakers...General Motors and Chrysler. 

Maybe. Maybe not.

Toyota owners, what say you?

UPDATE: Upon leaving the hearing, LaHood backtracked...




Proving that confidence-eroding moments aren't limited to automakers.

NEXT-DAY UPDATE: Reuters reports that LaHood's comments, pre-retraction, caused Toyota shares to drop 6.14%...or about $7 billion.

No comments: