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February 22, 2010

Toyota Cited $100 Million Savings by Delaying Safety Regulations
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In business news, a newly disclosed internal memo shows a Toyota
executive boasted last July that the company saved $100 million by
convincing US regulators to end a 2007 investigation of sudden
acceleration complaints by issuing a limited recall of floor mats in
some vehicles. The document cites millions of dollars in other savings
by delaying safety regulations, avoiding defect investigations and
slowing down other industry requirements. Since then, Toyota has
recalled over eight million vehicles. Toyota’s President Akio Toyoda is
scheduled to testify before on Capitol Hill Wednesday.



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