After our second class, I was intrigued with Toyota’s corporate structure. In class we discussed some of the key problems that the Big Three auto companies faced, that Toyota and the other relatively new auto brands in the United States weren’t faced with. For example, from the articles read in class, the Big Three was dealing with astronomically high healthcare costs, not only for their workers, but especially for their retirees. This isn’t a fiscal issue that worries Toyota too much, at least, not right now, considering Toyota in the United States is a fairly new corporation without many retirees. But recently, Toyota has encountered many problems on their own. Toyota has been dealing with tons of recalls on their cars in 2010. This report indicates that around 200 000 cars need to be recalled in Canada alone, http://www.cbc.ca/consumer/story/2010/08/26/con-toyota-recall.html. Now we find Toyota in damage control. There have been several lawsuits from angry customers demanding some sort of compensation. Toyota chairman Akio Toyoda, visited Congress, to receive some mercy against all these claims made, http://www.cbc.ca/money/story/2010/09/15/toyota-lawsuits.html. At this point, I believe all lawsuits should be dropped, but Toyota should compensate their customers in some sort of fashion.
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