Thursday, June 13, 2013
U S Transportation Secretary Stop Driving Recalled Toyotas
Park em if you got em. Thats the word from United States Secretary of Transportation Ray LaHood.
CNN reports that LaHood told a House of Representatives committee today that his advice to owners of Toyota vehicles currently under recall notices is to "stop driving it and take it to a Toyota dealer."
Thats millions of owners and millions of cars.
Critics of the governments handling of this recall are starting to use the phrase "fear-mongering" and are pointing out that the government has a conflict of interest, since it owns a stake in two competing automakers...General Motors and Chrysler.
Maybe. Maybe not.
Toyota owners, what say you?
UPDATE: Upon leaving the hearing, LaHood backtracked...
Proving that confidence-eroding moments arent limited to automakers.
NEXT-DAY UPDATE: Reuters reports that LaHoods comments, pre-retraction, caused Toyota shares to drop 6.14%...or about $7 billion.
