A couple of weeks ago, I wrote an article on BestCashCow that Toyota is entering a death spiral. I continue to think that Toyota's problems are real and are just beginning. Their refusal to address the sudden acceleration issue as an electronics problem - instead opting to satiate customers by moving the pedals around - is doing dramatic damage to the brand from which the company will never recover. To boot, Toyota was, as I predicted, poorly prepared in front of Congress two weeks ago. I drive a Lexus. My next car will be an Infiniti.
Putting the marketing damage aside, I am amazed by the parallels between this case and the Ford Pinto cases in the 1970s which led to the development of product liability tort law in the US. We give large product liability awards in the US in order to stop manufucturers from putting low values on human lives and producing products that may kill people. That gets manufacturers to fix problems rather than than treat them as inconsequential. A couple of large awards will take down Toyota. I am short Toyota stock and long very long-dated Toyota puts.
But this situation two nights ago with James Sikes and his Prius is really bugging me. It seems like the guy is piling on to a news story. He was too prepared to go straight to the media. He called 911 before trying to pull the emergency brake. Sikes, according to published reports, is a 61-year old real estate executive and longtime lottery player who won $55,000 and was selected in 2006 to appear on a California Lottery TV game show. This smells to me like a washed up Californian angling to be a plaintiff in a lawsuit or to be on the Amazing Race 18.
If it happened in Iowa or Kansas maybe I'd believe it, but these days anything coming out of California just seems scripted for Hollywood.
Comments
Yanthi
March 16, 2010
I just read through these comments and had to leave one of my own.
I was dating a woman in title insurance in 2001 in Bonita, and the Sikes were a menace back then; they were known in the realty world as flakes and frauds and tried to build their empire by reducing commission rates.
Was I surprised when they attempted to move into the yacht business (my line of work) by doing the same thing...reducing commissions and pushing themselves as professionals at boat shows, etc. Even at reduced rates, boat owners and sellers could see through the thin veneer of the Sikes personalities and they didn't last long in the yacht business.
What a couple of yahoos>
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Susan B Anthony
March 16, 2010
To Tuna Butter- Get a life you looser! You must be related or friends with the Sikes, who in thier right mind would believe this joker!
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Tuna Butter
March 16, 2010
Did you not hear about the second prius having the same problem.....earth to meekus~
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Tuna Butter
March 16, 2010
How can you doubt this guy? Listen for yourself!
http://www.pattyandjimsikes.com/
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Sikes is deplorable
March 16, 2010
The law firm that Sikes hired - http://www.thegomezfirm.com/index.html - are ambulance chasers. All they do is sue to get big $ for just the kind of case that Sikes was hoping to cash in on.
I think Sikes was hoping to sue Toyota and cash in, but he miscalculated the believability of his lies and now he is back-pedaling, saying he won't sue Toyota because he realizes he'd be found out to be a fraud and it would get him in hot water.
What a society we live in today!
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Hansel
March 16, 2010
I know James sikes from a local gay club in town. The brass rail.
This does not surprise me he is a crook and a homo.
Ps I just work there I am not queer.
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Calif Girl
March 18, 2010
I taked to Patty on Sunday morning. I called from NY, and she said I shouldn't be afraid to drive my Toyota Rav4. Odd statement coming from her after what "poor Jim" had gone through. First I was surprised she even answered her phone at 8 a.m. on a Sunday with all the media hype. I wanted to know what she meant that their careers were ruined. Her answer was people were using their website for lots of other purposes than what it should be used for. These comments have been really helpful. Thanks to everyone.
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Calif Girl
March 18, 2010
I notice now their real estate website is shut down. I don't think this story is over!
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Rebecca D.
March 18, 2010
I've read all the comments and Mr. Sikes seems to have few takers. I'm not a scholar, mechanic or engineer but when I heard the 911 call I knew this was a scam. He's faking nervousness and confusion to appear helpless with no way out but a high speed crash. He refuses to follow the operator's instructions to move the gear shift lever to neutral or push the "OFF" button. Remember, he's owned this car for 2 years and is very familiar with its controls. Once the cameras are rolling and the trooper shows up the car magically behaves nornmally after 23 minutes of "terror". How could anyone with a brain not question his ridiculous tale??? The mainstream media simply plays along and even fabricated the trooper pulling in front to slow him down....no facts, just a better story!!!
Now as Mr. Sikes sordid past comes to light his motives are obvious but realizing he's caught in a web of lies his attorney advises him not to sue and open him up to a charge of extortion.
People like this don't need any punishment...living life as they are must be unbearable!!!!!
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M.H.
March 18, 2010
What a sad excuse for a human being...sicko!!!!!
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