CapitalistMarks

Toyoda on Toyota.

Posted on 24. Feb, 2010 by scott in economic daydreaming, political munglings

What a spectacle today.  The son of Toyota Motor’s founder (and current DEO of the Japanese parent company) apologizing in front of a mostly unfriendly congressional hearing.  Mr. Toyoda used a translator for both sides of the conversation.  Others on the Toyota team spoke in English, including the Japanese head of U.S. operations for the company.  American’s had no doubt as to the tone or meaning behind our elected officials complaints.

While the accusations that were swirling around are serious, much of what is currently happening is pure political theater.

As an example take the Congressmen from Kentucky.  I don’t remember his name and it is not important, but his district is.  A district that is the North American headquarters for Toyota’s operations.  A district with thousands (perhaps tens of thousands) of voters who either work directly for, or owe their job to the Toyota factory there.

While other Congressmen complained and threatened, this particular one spent his entire 5 minutes (the time alloted to each committee member) reading a lengthy document praising Toyota, their history, job creation impact and products (all more blatant than any SuperBowl ads).  It was such an obvious and ridiculous statement that all that Mr. Toyoda (I guess when they started doing business here they figured we couldn’t pronounce the name with a ‘D’) could do at then end was stare wide-eyed.

Politics.  The very word is beginning to disgust Americans.  Sure Toyota may have come culpability here but a recent study showed that the # of complaints by Toyota owners is substantially lower (per 100,000 vehicles) than for other major makers (including GM and Ford).

Nothing like a little product scare to bring out the thespians in congress.

Yet, tomorrow is an even greater stage.  Obama’s broadcast of open and honest ‘negotiations’ by democrats and republicans on the health care issue.  I suspect that this will turn into political theater too, but it would be nice if the Repubs would actually bring some legitimate ideas to the table (tort reform, true interstate competition) and then the dems would actually listen.

Don’t hold your breath . . . I think this issue is DOA.

I drive a Toyota and I am a lot more worried about what our legislators are going to do than I am about crashing into a telephone pole while behind the wheel of my wife’s Avalon.  I figure I will die a lot sooner from lack of decent and affordable health care if they don’t act.  So yeah I am worried.

You should be too.

Did I mention term limits?

Thanks to flickr’s hryck for the photo

Tags: bi-partisan health care negotiations, congressional hearing on toyota, consumer complaints toyota, health care, obama, toyota recall