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Toyota Cited $100 Million Savings After Limiting Recall
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Management failure at Toyota in addressing quality and safety issues- the Recall period 2009-2011
01/29/2010
Toyota's own documents reveal that managers touted the $100 million savings in limiting the degree to which Toyota would address the quality and safety issues raised by unintended acceleration and failure in braking. Toyota had hired former National Highway Traffic and Safety officials and was able to limit what it had to do to address the problem. In the end the problems would cost billions of dollars in a massive recall effort and dent its image.
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Cost cutting and cost reduction strategies at Toyota and BP that misfired.
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It costs about $6 millon a day for BP to fix the oil spill in the Gulf of Mexico in May 2010. It cost Toyota much more to make the larger recall and in lost sales and the damage to its image than the $100 million estimated saving by efforts to limit the recall.
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Wall Street Journal 05/01/2010
Toyota Cited $100 Million Savings After Limiting Recall
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