Toyota

By John Terrett in Americas on February 25th, 2010
Photo by AFP

It was a rare sight indeed at the US congress on Wednesday.
 
The head of an overseas corporation being grilled by another country's legislators over his firm's mistakes.
 
Akio Toyoda came to the House Oversight and Government Reform Committee here on Capitol Hill in Washington DC to say he's sorry for the deaths and injuries caused by Toyota's faulty vehicles and to pledge change.
 
"As you well know, I am the grandson of the founder, and all the Toyota vehicles bear my name.  For me, when the cars are damaged, it is as though I am as well. I, more than anyone, wish for Toyota's cars to be safe, and for our customers to feel safe when they use our vehicles."
 
He said he feared the speed with which Toyota had pursued the growth of its businesses was greater than the speed at which it was able to develop its people and organisation.
 

By Abid Ali in Business on February 23rd, 2010
Photo courtesy of Getty Images
There’s a stench of protectionism over the US reaction to Toyota’s troubles.
 
The hysteria in political circles is overdone and reminds me of the time Dubai decided to buy P&O’s ports. Dubai was forced to hand over the reigns to the US ports because it posed a threat to national security.
 
Dubai did what it has always done; it spent millions of dollars on a public relations offensive. It came as no surprise that some in the United States did not know where Dubai was. But those from the US media who were flown to the emirate were surprised at what they saw when they arrived in Dubai – a modern, prosperous emirate. Something you assumed they did not associate with the Middle East.
 
By John Terrett in Business on February 23rd, 2010
Photo from AFP

Excuse me but can this Toyota story get any more odd?

Monday began here in Washington DC with a radio report citing a Toyota memo that appeared to gloat that the company had saved one hundred million dollars by convincing US authorities to limit a vehicle recall three years ago.

By lunchtime, however, things had got far worse for the Japanese car giant when Toyota said it had received subpoenas from a US Federal Grand Jury, related to problems with acceleration and braking systems in Toyota cars.

In other words Toyota's widely reported safety issues were now being elevated to the level of a possible criminal investigation. It means someone from the firm's HQ will have to answer questions before a Federal Grand Jury about the unintended acceleration of some Toyota vehicles and the faulty breaking of the hybrid Prius.

Depending on the evidence criminal charges may follow.

By Abid Ali in Business on February 6th, 2010
Photo by AFP

Does it matter how low the president of Toyota bows down? Apparently - Akio Toyoda didn't show enough contrition because he wasn't bowing deep enough. 

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