The Toyota Witch Trials Part One
Update 1: Well it isn’t going well for Toyota from my view. Lenz indicated there was a report of trouble in the UK and it seems they did not notify NHTSA….
CNBC has LiveStream Coverage of the testimony and questioning of Toyota’s Lentz here
If they knew it was an issue in 2006 and covered it up shame on them. If Congress uses this to destroy Toyota and steal marketshare for GM shame on them.
If NHTSA helped them cover it up, then DC is working as it always has. And it is shameful. Looks like the same old pay to play shxt to me. Lobbyists, corporations, politicians in each others pockets, like FINRA and SEC ‘regulating’ their former and future employers, completely ineffective.
But I have also been doing recent reading on those GM trucks that had engine fires and NHTSA didnt do jack shxt there either did they? Yet no big show trial Congressional Panel, cause ya know they love them some GM. Waxman is playing clips of Phil LeBeau interviewing Lenz for CNBC…
Now that the government owns upwards of 70% of GM this has the appearance of impropriety and it is hard to deny these Critters now feel a much more personal stake in tearing down Toyota and thus in their minds building GM market share.
Me, I suggest peeps buy a FORD.
CNBC provides background here:
The president of Toyota’s U.S. operations insisted Tuesday that electronic problems did not contribute to sudden acceleration of its cars, drawing sharp criticism from lawmakers who said such a possibility should not be ruled out and from a tearful woman driver who could not stop her runaway Lexus….