Word: toyoda
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...remain masters at summoning indignation. As political theater, the first few days of congressional hearings into Toyota's customer-safety crisis had it all: testy exchanges, Clintonian hairsplitting, obnoxious grandstanding--even multiple references to Marisa Tomei's automotive wizardry in My Cousin Vinny. On Feb. 24, Toyota president Akio Toyoda, grandson of the company's founder, sat before the House Oversight and Government Reform Committee to apologize. "Quite frankly, I fear the pace at which we have grown may have been too quick," he said, as members of the Japanese press and employees sporting Toyota buttons thronged the hallways outside...
...hauling Toyoda and his deputies to Capitol Hill for a public flogging, House members got to vent their outrage at the company's sclerotic response to quality issues ranging from troublesome floor mats to sticky gas pedals to faulty brakes. Committee members asserted that Toyota has failed to sufficiently address the possibility that the computers in its cars could be causing problems. Toyota executive Jim Lentz insisted on Feb. 23 that the company has identified the defects responsible for some 2,600 instances of sudden, unintended acceleration--resulting in 34 deaths--since 2000. But he also conceded that...
...Toyoda's appearance is the culmination of a month of unrelenting bad news for the company. On the eve of the hearings, a damaging July 2009 memo emerged in which Toyota execs boasted of $100 million in savings garnered through a limited 2007 recall. The company also announced that it had been subpoenaed by both the Securities and Exchange Commission and a federal grand jury in New York because of the sudden-acceleration issues. Toyoda vowed to "work vigorously and unceasingly to restore the trust of our customers." But he has a long ride ahead...
...cheater) have all tried to navigate their way across the Boulevard of Remorse to the safe shoulder of public forgiveness. But it's still a big enough deal that when men apologize, it's broadcast live on TV. For some, national coverage is not enough. On Feb. 24, Akio Toyoda, the CEO of Toyota, flew halfway across the planet to apologize in Washington: "When the cars are damaged, it is as though I am as well." (See the top 10 apologies...
...realized he's going to have to go the Full Monty. The concession is brutal but efficient. As soon as Woods offered up his 13-min. halting mea culpa (male culpa?), people swiftly moved on to the next step of any interpersonal conflict: not wanting to talk about it. Toyoda should only be so lucky. (See the top 10 awkward press conferences...