Quote:
Well , Sure is interesting to try and figure out how much this is going to cost in addition to what they have spent already , including the spin/disappearing information campaign .
Looks like at a min. , an additional 200-250-300 million-to who really knows how much above that .
Well ,it now appears the previous estimated range was way low .
NYT via Detroit News says
Billions and I asked around today , and they are correct - at the
least 1.2
billion + - maybe
alot more .
http://www.detnews.com/apps/pbcs.dll/article?AID=/20070207/AUTO01/702070349/1148
Pastmaster posted this earlier today ,he deserves the credit , although I think we can use it here .
http://theoildrop.server101.com/forums/showflat.php?Cat=0&Number=818898
Excerpted and comments added in parenthesis
and bold . Plain bold is original text .
Cheryl Gerber / New York Times
"We had our suspicions up that this isn't an unusual case," says Jeff Meckstroth, a New Orleans stockbroker.........................................................
...................................................Jeff Meckstroth's dispute with Toyota Motor Corp. might have ended quietly on March 1, 2001, when an arbitration panel
unanimously agreed that Toyota was liable for the damage to the engine of his 2-year-old $37,000 Lexus RX300 sport utility vehicle.
Instead, it escalated.
( toyota wouldn't pay incidental expenses ) As the two Toyota representatives packed up their papers, they referred casually to other, similar cases they were handling. "Then we had our suspicions up that this isn't an unusual case, that Lexus knows about the problem, and has formed a response -- just
deny , deny , deny , ( like here ) " said Meckstroth, a 47-year-old New Orleans stockbroker. "We decided to sue."
( Also didn't like that " passionate pursuit of perfection " after he found out what it means - for real )
His case mushroomed into a class-action suit representing prior and current owners of nearly
4 ( see how Ts been spinning this number ? 3.2 then around /just under 3.5 and now .... ) million Toyota and Lexus vehicles that may have
(or may soon/later ) suffered engine damage due to thickening oil, or sludge......................................
...............................................................
With engine replacements costing as much as
( 12,600 ) $10,000, the final tab could run into the
billions . But the
(revelations and unanswered questions bring their own ) damage to Toyota's reputation
( and will ) might be even more costly for the Japanese automaker................................................................................................................
..................................But the high-profile case is the latest in a series of recalls and
other signs suggesting that the Japanese automaker's quality controls aren't foolproof.
( should read :aren't proofed by a fool or yep , no proof even for a fool )
Here comes the spin . Edmonds shutdown Charlene Blake and Toyota Owners Untied For A Resolution and then shortly there after partnered with - and are on toyotas homepage - you decide .
"It would be accurate to say that there have been enough issues with Toyota in the past couple of years that they don't have the spotless
( imaginary ) image they had a couple of years ago," said Karl Brauer, editor in chief of Edmunds.com, an automotive research Web site.
But he adds that problems at Toyota attract a disproportionate amount of attention because of the automaker's
( carefully crafted ) sterling reputation for quality. "Most companies wouldn't get noticed for these problems."
Further complicating matters, sludge issues aren't clear-cut.
( Yes they are on these two toyota motors ) Excessive heat, sediment, poor oil condition or a combination of those factors may thicken the oil. In engines with very narrow passages, small amounts of sludge may get stuck, causing damage...........................................................................................................................................................................................................................................
............................................................"There are reasons to believe that the engine design could be contributing to it, but there are also reasons to think that lack of maintenance or proper customer care is contributing," Brauer said. "Everything I've read indicates something kind of in between."
See previous post outline .
Gary Gambel, an attorney at Murphy, Rogers, Sloss & Gambel in New Orleans, argued that Toyota's engines had a
( have numerous ) defect
( s ) giving them a propensity to develop sludge.
But "the terms of the settlement and the settlement itself have no finding of defect in the product,"
Toyota spokesman Xavier Dominicis said. "They're not saying these engines are predisposed to sludge."
( No but your billion $ plus settlement offer sure sez so )
Toyota does not expect
( whens the last time their expecter was any good on engines any way ? ) the rate at which customers are coming in for engine repairs in those vehicles or for compensation to change as a result of the settlement, Dominicis said.
( Yea maybe - I DOUBT IT , but either way , now you have to make good . ALSO GOTTA CATCH UP )
Toyota remains among the quality leaders by any (
rapidly dwindling and somewhat suspicious ) measure, but some question whether it can continue to grow
( at all ) rapidly and maintain top
( any ) standards. Its sales targets suggest Toyota may overtake General Motors Corp. to become the world's No. 1 automaker this year.
In a recent interview, Yuki Funo, Toyota's highest-level U.S. Toyota executive, said he thought Toyota had "come through the worst period."
( Nope . Three more to go more likely )
He noted that the company's
U.S.only U.S. recalls were lower last year than in 2005.
( Because of delaying latest balljoint recall + other ? ) "We are on the right track to get our arms around this issue
( you ever try and hug a gorilla ? ) , and I think we should see better signs
( the heck with the signs - I'd start with balljoints and engines asap) in the future," Funo said.
( Whole industry dropped from about 17.9 M TO approx. 10.7 M . toyota didnt not match this improvement )
Most experts say it takes years for brands to lose -- and restore -- their reputations.
"The sludge issue was a significant blow," said Art Spinella, president of CNW Marketing Research Inc. in Bandon, Ore.
"Toyota's in the position that GM was in back in the 1970s.
A lot of people were buying GM products in the '70s because they were GM products, but they had fractures at the edges.
It took 15 years before GM started to suffer from that long-term negative word-of-mouth."
At Toyota, he said, "it's going to hurt them if they don't turn it around."
( Yep )
------------------------------------------------------------------------------------------------------------------------
As bad as these higher numbers are there was much more at stake .
Let me do it this way ; ( my opinion only )
I would gone after not only the two specific engines named , but also the internal/external information on another 3-4 engines specifically and all that they have ever produced in general or in other words , in regards to across the board design shortcomings .
Its also relevant to consider any engine that Yamaha had anything to do with - both toyota and non toyota .
Of course these engines didn't come about in a vacuum so I'd be looking at the entire history of the company , from before they started manufacturing anything automotive .
Most relevant would be their automotive " business practices " since slightly before Honda decided to produce automobiles . And obvously what they did from about 1982 forward .
As I said it didn't happen in a vacuum , so their decision making activities/engineering processes in regards to the last two years of recalls would be desirable to bring in as well . That in turn ,brings up the 20 years before that .
Why try and do all this ?
Because if you did , I believe its very likely you could establish that these defective engine programs were really the result of business as usual - with a couple of new twists thrown in .
I also believe you could then try and demonstrate a consistent long term pattern of unsavory and negligent - even possibly criminal behaivor and business practices .
Once even the possibility of this was even in play , I then think at the very least a stronger , fairer , settlement was possible.
Well , they were in a
biiiig hurry when these engines were pushed thru .
Now some of that was good business sense , some of it was ego ( false - the worst kind ) , some of it was greed and some of it were the problems they were starting to experience with the then current engine designs - recently introduced .
Besides , it was ..... in a sense....... Hondas fault .
BTW , I'm getting a little proud at how the forum handled all of todays attempts to get everybody off track . Ignore them - all of them .
Did you catch that dog and pony show about the honda odometer ?