Posts by Addy:
Toyota Into Deeper Crisis As Investigation Started In U.S
The company has disclosed that (SEC) Securities and Exchange Commissions was probing what the automaker told investors and Federal prosecutors have launched a criminal investigations after the release of internal document showing company officials visited with U.S regulators years ago and rolled their eyes in disbelief over safety issues.
It is expected that there would even indictments against the executives in Japan and U.S or may be hefty federal fines after the twin development created new public relations challenges for Toyota. Whatever executives would say could be used against the company inside a courtroom so this would complicate Toyota’s ability to discuss details driving its recall of 8.5 million vehicles globally
Toyota Saving $100 Millions By Putting Consumer Safety At Stake
According to the reports from congressional investigators, after having successful negotiation with the government on a limited recall of floor mats in some Lexus and Toyota vehicles, Toyota has saved $100 million.
In September 2007, after having successful negotiations on equipment recall of floor mats involving Lexus ES350 and Toyota Camry, Toyota saved $100 million. It was confirmed in the internal presentation in July 2009 by Toyota officials and the saving was listed as “Wins For Toyota”.
By slowing down other industry requirements, avoiding defects and safety regulations, Toyota saved millions of dollars as it cited in the document produced by Congressional Investigators.
Rate Hike To Be Highlighted In Congress
WASHINGTON – To trillion dollar budgets and hiking of interest rates seems quite opposite at times, since this week central bank hike bank lending rate, this was not speculated and the quick decision was not welcomed by many where now the speculations stand to tighten the money markets. However, we still wait for the US chief Ben Bernanke of Federal Reserves to explain the decision of the central bank to increase bank lending rates. He is expected to appear before House of Representatives in which financial committee would be looking forward to this matter and then the same testimony process is to be followed next day with the jittery market. There are many being left with various speculations about the market and when it comes to the central bank they are quite likely to make any investment decisions for the future as the central bank increased lending rates would directly affect discount rates for the future and working quite opposite than to revive economy for the US.
Obama To Announce New Proposed Plan On the First Anniversary
WASHINGTON – it has been one year for the president Barack Obama for the launch of its stimulus plan of $787 billion which was spent in the last year to revive the economy from various downturns. The economy however did not boost as it was expected and such a failure is being blamed on the president’s plan by the opponent’s.
Toyota Considering Another Possible Recall
Toyota’s chief Akio Toyoda has made the statement on Wednesday that he will not attend the U.S Congress hearing on vehicle’s safety lapses in a difficult time when the company is looking into the possible power steering problems in Corolla subcompact.
California To increase Health Insurance Cost
Yet we are not sure for the increase proposed by the Anthem is justifiable in logical terms, but we all can say that for certain that a 39% increase all of a sudden would be something too big which will affect the people of California considerably. Anthem arguing with the proposed increase made statements that majority of Californians would be ok with the increase however, a small amount of people would be affected and the only reason is for them to be is recession.
Economic Instability And Tax Evasion In Japan
In order to deal with yawning fiscal gap, Naoto Kan, Finance Minister is considering raise in sales tax and other tax reforms including consumption tax. It was reported by Fuji TV that Kan who is also a deputy prime minister stressed on the need to start discussions on tax reforms such as corporate tax, income tax, environment tax and may be consumption tax too.