Toyota to pay $1B to settle criminal probe

[Samtucky]

http://www.usatoday.com/story/money...a-settlement-unintended-acceleration/6595345/

Toyota provided incomplete statements to the National Highway Traffic Safety Administration, the government's car safety arm. As a result they now have to pay $1 billion. This seems like a lot of money and a little unfair in my opinion.

 

[James]

Nice to see the government coming down hard on companies for lying to consumers. I love Toyota trucks, but they need to be honest. It could mean life or death in some cases.

 

[tbplus10]

If I was a conspiracy theorist I might say this was all motivated to damage Toyota's reputation and help the big 3 with sales that fall way below Toyota's numbers and expected future numbers.
Remember how this recall ended, changing floor matts and a minor part swap for the gas pedal assembly.
Total cost per vehicle involved was less than $70.
Of course Eric Holder having his name attached to it also makes me believe its another bit of bs by the present cabinette.

 

[BamaKaren]

tbplus, interesting viewpoint. It is sort of how I feel about cops. They are your own worst enemy. They abuse power to make themselves feel good! There are some good cops, but I seen too many abuse the law for my taste.

 

[Brad]

Although 1 billion sounds a lot to all us, Toyota won't really be as bothered as we would. They have got so much money and see them only getting fined 1 billion for putting peoples life in danger... I just don't know what to say.

 

[toyotafan]

I'm not sure that I agree. $1billion is a lot of money, no matter how you slice it. These companies have made huge profits in the past, but they also have years when they actually lose money just before model year changes and when they have huge R&D expenses trying to build the next generation and platforms with newer technology.

 

[Brad]

I'm not sure that I agree. $1billion is a lot of money, no matter how you slice it. These companies have made huge profits in the past, but they also have years when they actually lose money just before model year changes and when they have huge R&D expenses trying to build the next generation and platforms with newer technology.

It's a lot to anybody, obviously, but it's not enough for a huge company when they're putting peoples lives at risk. Do you agree?

 

[Toyota Girl]

What was Toyota's gross profit over the last few years? Anyone know?

 

[Brad]

What was Toyota's gross profit over the last few years? Anyone know?

Toyota logs record $18-bn net profit for fiscal 2013

That was only for 2013, so let's say they make that each year. Well, I guess you see what I mean now.