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
Gary
March 11, 2010
To Dan S. who asked: "This is brilliant! It is so obvious when you think about it. This is so clearly a scam? Why hasn't the mainstream media picked up on it?"
In my opinion, the mainstream media is controlled by our Government and, our government owns GM through the taxpayer paid bail-outs. The USA also owes Japan about $1 trillion in loans which they cannot easily repay. The MSM will not cover any story that isn't in the best interests of the Government and, Toyota auto sale's success is also not helping our government's underhanded efforts to sell GM cars. By eliminating superior competition, like Toyota, we shall only have USA cars as our remaining choices. Need I say more?
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Get real
March 11, 2010
Unbeknownst to most people, the Prius being a hybrid has a system called regenerative braking. Because of this, the brakes on the car are quite large in comparison to the size of the car and the horsepower it can generate. That car's brakes have the ability to stop the car if the car was at FULL throttle! This is NOT the case in all cars but it is in the Prius.
This whole story stinks to high heaven! Consider the following coincedences:
1. It happens right after being told by the dealer his car is not part of the recall.
2. It happens on a VERY deserted part or a rural highway where traffic is always light.
3. It happens at 1:30 in the afternoon so as to further minimize traffic.
4. It happens in the same town as the CHP officer incident.
5. He claims to not be able to shut the car off or put it in neutral but as soon as the CHP arrives, he's able to do both.
6. He drives allegedly at 90mph and is on the phone with 911 for 24 minutes.
7. He of course now has an attorney and guess what, it's the same one who represents the CHP officer who was killed in August.
There's more but I think any sane person can get the picture. This is so phony it defies description and when all this comes to light, I sure hope the press is as hard on him as they have been on Toyota!
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AronLiv
March 11, 2010
Sikes is clearly a fraud, but he'll never see the inside of a jail. The Salahis showed us that there seems to be free pass to everything, including crashing a White House dinner, so long as you are just seeking a crack at reality TV.
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Doh
March 11, 2010
I knew this was a scam the minute I heard the 911 call.I saw right through this sleaze bag taking advantage of a situation.It never ceases to amaze me how stupid people are in their attempts to scam a major company to get something for nothing.His character and past will hopefully put this hoax to a halt before it further damages a really good automobile company.I hope none of the American Auto makers are involved in instigating or conspiring in this obvious scam.I bet a lie detector test would reveal a lot.
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T J E
March 11, 2010
If he gets anything from Toyota then I am also entitled and I do not drive a Toyota.
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EC
March 11, 2010
Can we say "Balloon Dad"?!
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EM
March 11, 2010
I really think the police need to get a hold of his computer and see if he did searches on braking and accelerating at the same time and what would happen.
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T J E
March 11, 2010
Sikes has a background with the force. They will cover his behind. He needs to be concerned with Fed involvement.
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Dave
March 11, 2010
I think before this is over you will find out that Mr. Sikes was several payments behind on his Prius and that he also was accused of insurance fraud previously.
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Politburo
March 11, 2010
There isn't any evidence of an electronics problem. How do you expect Toyota to respond to a problem that doesn't exist?
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