Prof. Gilbert

Prof Dave Gilbert  here and here at Southern Illinois University (my old home away from home) has told ABC New’s Brian Ross

Because the computers won’t record an error code in this situation, Gilbert told ABC, “they can’t activate the ‘fail safe’ system designed to shut down the power and put the car in the ‘limp home’ mode.”

And tell me that this remark by Toyota doesn’t sound like the tobacco companies

John Hanson, a Toyota executive, answered reporters today by saying an electronic cause of the sudden acceleration issues was “extremely unlikely” and that “no actual evidence has been produced” to the contrary.

Toyota is facing probes by the US Attorney for the Southern District of New York and by the SEC.  Toyota is facing suits, that plural, from share holders for the value lost in the stock because company officials, allegedly, knew of the problems and told the public that there were no problems.  Plus Toyota is facing lawsuits for at least some of the 34 deaths that might be attributable to the sudden acceleration problem and for the thousands of accidents where there were personal injuries and some people’s insurance rates went up because of Toyota’s design problems.

We are in to the middle single digit-billions here.  $4 billion to $6 billion.

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