Lawsuits Over Lost Vehicle Value Could Cost Toyota $3 Billion

March 10, 2010

  • March 10, 2010 at 7:42 am
    Patty Cake says:
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    Our news stations all have had information given to us about stopping the run-a-way cars. But the man you refered to said he was even STANDING on his breaks to get the car to stop.

  • March 10, 2010 at 7:46 am
    Temblor says:
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    Au Contraire: A stopped watch is right twice a day, unless it’s a military time watch.

    And, for any car with disc brakes (which is probably all of them nowadays) you can stop the car, no matter how much gas you’re giving the engine.

    I wonder which personal injury attorney set up the “runaway” in San Diego? I’ll bet all the reports will turn out “it’s a mystery, we can’t find anything wrong”.

  • March 10, 2010 at 7:57 am
    Temblor says:
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    And yet he was able to stop it by using the emergency brake too? Have you ever tried to stop a car using your emergency brake? You better have a long, long, straight road with nothing in front of you – they are as close to worthless as you can get without being totally worthless. They operate only the back brakes, and only as hard as you can pull on the lever or handle, which isn’t very hard considering how hard you can push down with your leg, which operates all 4 brakes (and 70% of that effort goes to the front brakes!), plus the foot brakes are hydraucally magnified, then hand brake isn’t.

    It’s pure BS that using the hand brake too will add any stopping force. The foot brake is all you need.

  • March 10, 2010 at 2:01 am
    Temblor says:
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    First of all, no “value” is lost until the vehicle is sold, sometime in the future.

    Second, the huge number of class action suits aren’t coming so much from individual car owners as it is from scumbag attorneys sniffing around like dung beetles after a fresh pile.

    These are the kind of suits that get settled for tens or hundreds of millions of $ and you get a letter from a law firm advising your share is $16 while they collect most of the settlement as fees.

  • March 10, 2010 at 2:07 am
    Temblor says:
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    From the above article. This is what it’s all about, lawyers fees. They file the suits THEN go looking for plaintiffs.

    “Automakers in the past have been forced to pay vehicle owners for lost value because of safety problems. Ford, for example, agreed in 2008 to compensate 800,000 Explorer owners who sued because of rollover dangers. That settlement provided owners only with vouchers of between $300 and $500 to buy new Ford products.

    In that case, the lawyers received about $25 million in fees and costs, and the Toyota case could result in a similar windfall for attorneys. A study by the Federal Judicial Center concluded attorneys in class-action lawsuits typically get fees between 27 percent and 30 percent of what they recover in damages — which could reach $1 billion in a $3 billion settlement.”

  • March 10, 2010 at 2:15 am
    Teddy says:
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    Great post Temblor. That is calling the kettle black.

  • March 10, 2010 at 2:41 am
    theinsexpert says:
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    Yes, scum bag lawyers and yet companies STILL choose to let people die. Remember Ford and the Pinto…in the ’70’s, before we had so many scum bag lawyers, they wrote an internal memo sayign it’d be better to pay off for the deaths of the (low-income) folks buying those cheap crappy cars, who explode and/or burn alive, than it would be to recall them. You can bet “Remember Toyota” will be stated in boardrooms for years to come when companies consider weighing the bottom line against human lives. Anyway, it’s probably Ford behind all of this…looking to drive down the value and buy Totyota up…rebadging it as “Toyoda”. Foyota? You’ll see! ;-)

  • March 10, 2010 at 2:46 am
    Paranoid Anti-Unionist says:
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    I think the UAW in cahoots with its partner, General Motors, has found the 21st century version of the Molly McGuires. This may be a sophisticated planned attack by innuendo and urban legend memes put forth into the net and the other media, plus other methods such as the trial lawyers army of litigators. The mysterious acceleration videos, the lawyers, the (union controlled) NTSB and congressional ‘investigation/public flaying’ of Toyota. I am sure the winnings in the lawsuits will be presented to some sob-story but union-controlled charity in place of the $16 per class memeber it might otherwize have yielded. Pardon my rant.

  • March 10, 2010 at 2:46 am
    temblor says:
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    To theinsexpert: Please explain how your posting relates to the plethora of class action lawsuits about the drop in value of Toyota cars?

  • March 10, 2010 at 2:53 am
    Compman says:
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    I bet Rahm Emmanuel is behind this… If Toyota goes under, then Gov’t Motors will benefit and so will the UAW. Does Toyota have a problem with some of its cars? yes. Is the press blowing this out of proportion? probably.



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