Toyota boasted saving $100M on recall

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brian
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Joined: Tue Jul 14, 2009 10:52 am

Toyota boasted saving $100M on recall

Post by brian » Mon Feb 22, 2010 9:46 am

Feb 22, 2010: Some raw meat for the feeding frenzy! In a press lusting for a 'smoking gun' to further bash Toyota, apparently they think they have it with the latest internal documents which include "Claims by Toyota in internal documents that it saved money by obtaining a limited recall from regulators in 2007". Apparently continuing to feed the playbook for the class action seeking lawyers and hoping to create a feeding frenzy like the Ford Pinto memo from 1968. In that memo some pencil pushing accountant boasted that the costs for fixing the Pinto was $121 million, while settling cases where injuries occur was only $50 million. With such a difference in costs, Ford decided to manufacture and market the Pinto without fuel tank modifications.
How coincidental that the article includes "Toyota, in an internal presentation in July 2009 at its Washington office, said it saved $100 million or more by negotiating an "equipment recall" of floor mats involving 55,000 Toyota Camry and Lexus ES350 vehicles in September 2007"
See the full AP story Documents: Toyota boasted saving $100M on recall
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