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
Hidaki B
March 12, 2010
I'm a retired Toyota executive and am proud to have worked for such a fine organization for 23 years. To watch these opportunist try and extort fame and/or money Toyota is despicable.
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Mark360
March 12, 2010
Is it any secret why the so called mainstream media has ignored the real facts in this story.
When we first heard of Mr. Sikes "ordeal" it was a feeding frenzy for the press....terrified old man in a runaway prius...it had all the elements the liberal media loves... little guy vs big bad large corporation selling inferior products to an unsuspecting public.
As the real story emerges, the california libs have dropped coverage because it no longer fits their agenda. Why would they want to report that Toyota has always had the highest customer satifaction and safety record among major manufacturers for over 20 years...that's no news and doesn't play well on the morning talk shows!!
Fortunately, as Mr. Sikes' past comes to light we have hopefully been spared his appearance on Oprah, The View and Joy Behar preaching the evils of large corporations that actually employ people and earn profits.....WITHOUT government bailouts!!!!!!!
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B.K.
March 12, 2010
I've known the Sikes' for almost 10 years and they are the consummate con artists. They make a great first impression and both appear sincere. I honestly believe there is absolutely nothing they wouldn't do for money.
You will now see James avoid the spotlight he craves so much because he realizes his story is unravelling!!
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Brook69
March 12, 2010
I own a 2009 Lexus LS430. Do I have anything to worry about? It has been wondeful so far and I hate to have to sell it.
This Mr. Sikes appears deceptive, but he's kinda' cute.
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Willard Gusman
March 12, 2010
I'm a retired engineer with Boeing Aircraft and I can tell you this man is lying. The brakes in a Prius are ovesized and completely capable of stopping the car at any speed and engine at full power. The only way to burn the brakes as he did is to drag them as you drive but not pressing too hard to slow the car. When the police arrive he then presses firmly and the car stops but brakes smell horibly because he's been dragging them for 30 miles.
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Leslie N.
March 12, 2010
When I first saw this story on the news I realized I had met this man a few years ago at a Realtor convention in LaJolla where he promptly hit on me with his wife sitting 10 feet away...what a creep!!!!
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BigGuy23
March 12, 2010
I am a previous client of Mr. Sikes and have found him to be a disgrace to humanity.
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Pat
March 12, 2010
I work for the San Diego Chamber of Commerce and can tell you the Sikes' are well known as scam artists
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Frank G.
March 12, 2010
I've read all the previous blogs and for those few who believe this guy I have a little advice...Wake up and smell the coffee.
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Karl Marx
March 12, 2010
I think the most amazing part of this whole story is that Mr. Sikes had leased this car....Who in their right mind would approve this guy for a loan????
No wonder banks need government bailouts
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