InvestorsHub Logo
Followers 47
Posts 10071
Boards Moderated 0
Alias Born 12/10/2009

Re: None

Monday, 04/05/2010 4:17:02 PM

Monday, April 05, 2010 4:17:02 PM

Post# of 447468
I wonder if obama would do this against GM?..........WASHINGTON -- The U.S. Transportation Department says it is seeking the maximum penalty of $16 million against Toyota for failing to notify the government promptly about defective gas pedals among its vehicles.

Transportation Secretary Ray LaHood says the department has evidence that Toyota knew of the problem with sticking accelerators in late September but did not recall cars until late January.

The fine would be the largest civil penalty ever issued to an automaker by the government.

Toyota has two weeks to accept or contest the $16.375 million penalty.

Toyota has recalled more than 6 million vehicles in the United States and more than 8 million worldwide, because of acceleration problems in multiple models and braking issues in the Prius hybrid.

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.