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
R.J. Gotay
March 12, 2010
Somebody call Fox News and get Glenn Beck on the case since the MSM won't expose this Hoax.
Maybe he's a Communist or works for Acorn and Obama told the media to lay off.
Is this review helpful? Yes:0 / No: 0
R.G. Armstang
March 12, 2010
This guy makes Nancy Pelosi sound reasonable.
Is this review helpful? Yes:0 / No: 0
Billy350
March 12, 2010
How can the media be so naive???????? I can see thru this scammer like a lace curtain.
Is this review helpful? Yes:0 / No: 0
Debi Diamond
March 12, 2010
I have a 2008 Prius and have never had a problem but now I'm afraid to drive it. If this is a hoax this man should be put in jail . Does he realize all the damage he has done???
Is this review helpful? Yes:0 / No: 0
Are You Kidding?
March 12, 2010
Law firm: Prius runaway driver won't sue Toyota
By The Associated Press
Thursday, March 11, 2010 at 3:55 p.m.
SAN DIEGOââ¬â A law firm for the driver who says his Toyota Prius sped out of control in California doesn't plan to sue the Japanese automaker.
The Gomez Law Firm issued a statement Thursday, saying it represents James Sikes. It was unclear why the law firm was retained; a phone message to the firm wasn't immediately returned.
Sikes told authorities he was driving near San Diego on Monday when his accelerator stuck. He says the car reached 94 mph before a California Highway Patrol officer helped him slow down.
The statement said Sikes hopes an investigation will identify what caused the incident.
The Prius is not part of Toyota's vast recall of gas pedals that can become stuck, but it is covered by an earlier recall of floor mats that can catch the accelerator.
Is this review helpful? Yes:0 / No: 0
Jim Simmons
March 12, 2010
It looks like Sikes realizes he is in deep crap and is trying to make this story go away. Why else would he so quickly hire counsel to announce he isn't going to be taking action?
Is this review helpful? Yes:0 / No: 0
G-Force
March 12, 2010
Sikes also filed for bankruptcy in 2008 saying "nearly all real estate agents file for bankruptcy". Classy guy.
Is this review helpful? Yes:0 / No: 0
Tony D
March 12, 2010
Yo' Bro ...Back where I come from we had ways to deal with dirtbags like this and we didn't need no stinkin' attorneys!!!
Is this review helpful? Yes:0 / No: 0
Dancin' Dan
March 12, 2010
How does this guy sleep at night????? How does he go out in public??? Who are his friends??? Does he have children and parents?? At holiday get togethers what do they talk about??? Are John and Kate getting back together??
Is this review helpful? Yes:0 / No: 0
Roland Chemtob
March 12, 2010
I don't like this dialogue - He is innocent until proven guilty.
Is this review helpful? Yes:0 / No: 0
Add your Comment
or use your BestCashCow account