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...scandal broke in March, when executives at Mitsubishi Fuso Truck and Bus, until last year a Mitsubishi Motors division, admitted after discussions with government regulators that a defect in wheel hubs on its heavy trucks could result in wheels suddenly coming off the vehicles. (Mitsubishi Fuso had previously maintained the problem was due to poor maintenance.) Later, the truck unit acknowledged it had hidden a problem with fractured clutch housings that could cause a transmission part to fall off vehicles. According to regulators, these two flaws are suspected to have caused or contributed to 73 accidents and two fatalities, including...

Author: /time Magazine | Title: Mitsubishi's Shame | 6/28/2004 | See Source »

...Management also admitted issuing memos to dealers asking them to quietly fix these flaws if customers brought their cars in for other repairs. Shortly after the disclosures, police arrested former Mitsubishi Motors president Katsuhiko Kawasoe on charges of professional negligence for failing to report one of the potentially lethal truck defects...

Author: /time Magazine | Title: Mitsubishi's Shame | 6/28/2004 | See Source »

...would the Pajero, a popular SUV in Asia, suddenly become a booby prize? Because in recent months, Mitsubishi's former truck unit admitted to covering up a potentially lethal mechanical defect in its trucks; separately, Mitsubishi Motors launched a massive recall of its cars, including the Pajero, to fix defects that it had kept secret for more than a decade. As the scandal has widened, Japan's fifth largest carmaker has come to be seen as a case study of a self-serving corporation that systematically concealed safety problems to protect its brand. Mitsubishi's reputation has become so tarnished...

Author: /time Magazine | Title: Mitsubishi's Shame | 6/28/2004 | See Source »

...billion in debt as a precondition for the German-U.S. auto giant's participation in any bailout. But he was turned down. Soon after, Rolf Eckrodt, the DaimlerChrysler-appointed president of Mitsubishi Motors, resigned. DaimlerChrysler, which has already invested $3.5 billion in Mitsubishi's auto and truck businesses, says it has no intention of selling its 37% stake in Mitsubishi Motors?but, warns Standard & Poor's credit analyst Chizuko Satsukawa, DaimlerChrysler's refusal to offer more assistance certainly bodes ill "for the creditworthiness of Mitsubishi...

Author: /time Magazine | Title: Mitsubishi's Shame | 6/28/2004 | See Source »

Twenty-two feet long and weighing in at 4,700 lbs. unfueled, Cassini is an extraterrestrial truck bristling with a dozen instruments. It is protected by Kapton blankets that shield it from micrometeorite hits and warm it against the deep freeze of space. Inside, it operates at room temperature...

Author: /time Magazine | Title: Lord Of The Rings | 6/28/2004 | See Source »

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