Toyota's $1.2 billion settlement may be model for U.S. probe into GM

Comments (16)

So who gets the $1.2 billion? I am sure it’s not the consumers who purchased these unsafe vehicles. A few more of these billion dollar settlements such as B of A etc. and we can cut the deficit by 1%.

Mar 19, 2014 10:19am EDT  --  Report as abuse
JRTerrance wrote:

Wow! Freedom from justice is really expensive these days. I wonder if that $1.2 Billion includes Holder’s cut.

Mar 19, 2014 11:24am EDT  --  Report as abuse
React wrote:

@Rockoatthebeach

“Last year, Toyota received approval on a settlement valued at $1.6 billion to resolve claims from Toyota owners that the value of their cars dropped after the problems came to light. It is also negotiating with hundreds of customers who said they had been injured.”

Simply reading the story explains a lot.

Mar 19, 2014 12:02pm EDT  --  Report as abuse
justamaz wrote:

Grandstanding by Holder. Will he be concerned about the more serious problem at GM? I wonder.

Mar 19, 2014 12:47pm EDT  --  Report as abuse
roncee wrote:

Oh what a f-ing…Toyota!

Mar 19, 2014 12:58pm EDT  --  Report as abuse
JakobStagg wrote:

Okay, we know the government isn’t going to squander the money on any benefit to the people, consumer or taxpayer. We know Toyota will jack up the price of all future products to cover it.

Where is the benefit? Who benefits? Obviously, it isn’t us.

Mar 19, 2014 1:06pm EDT  --  Report as abuse
jbinla wrote:

@React

You’re talking about a completely different settlement. $1.2 billion was the settlement between Toyota and the U.S. Dept of Justice, not for the consumers or victims who have their own separate cases against Toyota independently. The $1.6 billion was a class action on behalf of current Toyota owners purely on the premise that the resale value of their cars was diminished by the negative publicity generated by the flaw in the cars. You’re right, simply reading the story explains a lot.

Mar 19, 2014 1:21pm EDT  --  Report as abuse
mgunn wrote:

US company (Union Carbide) kills thousands and maims tens of thousands and >20 years later not even 0.5 billion paid out to Bhopal victims.

Not to say Toyota shouldn’t be punished, but the relative amounts between Union Carbide and Toyota is staggering.

Mar 19, 2014 1:26pm EDT  --  Report as abuse
benburned wrote:

mgunn,You are spot on about Bhopal victims. India is still having large numbers of children being born with gross birth defects attributable to Union Carbides negligence. I believe there needs to be a global entity that has the capability to seize corporate money’s fem outfits like Union Carbide that simpy ignore judgements against them Consumers as well need to be aware whose products they are purchasing and governments should refuse to purchase products from these scofflaws.
This is simply another symptom of the criminal disregard by big corps of laws and judgements made against them.
Until corporate execs are prosecuted and jailed for criminal negligence this disregard of the law will continue.

Mar 19, 2014 2:09pm EDT  --  Report as abuse
SmartThinking wrote:

I remember when professionals would proof read their work…(into, not into)

(Reuters) – Toyota Motor Corp will pay a record $1.2 billion to resolve a criminal probe in to safety issues,

Mar 19, 2014 2:33pm EDT  --  Report as abuse
nickh1x wrote:

when toyota was made in japan, these problems didn’t exist. the moment america bought toyota and started making them here in the USA… well, we know the rest of that story…

Mar 19, 2014 3:48pm EDT  --  Report as abuse
roncee wrote:

Looks like the coverup finally ended and the piper must be paid; though not enough.

http://www.sddt.com/Commentary/article.cfm?SourceCode=20131104tbc&Commentary_ID=140&_t=Software+bugs+found+to+be+cause+of+Toyota+acceleration+death#.UyoDUVeinjU

Mar 19, 2014 4:59pm EDT  --  Report as abuse
Mylena wrote:

It is incredible how money can change priorities in life. If you are poor, you are screwed up. but, if you have millions you alwyas will look crystal clear.

Mar 19, 2014 5:22pm EDT  --  Report as abuse
Mylena wrote:

It is incredible how money can change priorities in life. If you are poor, you are screwed up. but, if you have millions you alwyas will look crystal clear.

Mar 19, 2014 5:22pm EDT  --  Report as abuse
Kahnie wrote:

Killing people generally results in prison terms. Once again, there is “big justice” for corporations and the wealthy and “little justice” for little people who don’t have gazillions of dollars or who aren’t big corporations. This administration like the GOP and former Democrat administrations is beholden and owned by the corporations and Wall Street. It’s called Corporate Government, aka Economic Fascism, pure and simple.

Mar 19, 2014 7:27pm EDT  --  Report as abuse
Kahnie wrote:

Some jail terms for these people in corporations and there would be better cars made, fewer “Bhopals,” and lots more justice all around. No wonder we Americans are cynical about the system. The “fix is in,” and always has been.

Mar 19, 2014 7:31pm EDT  --  Report as abuse
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