FROM Justin Hyde
Another Rough Week Ahead for Toyota The chief executive of Toyota, Akio Toyoda, will testify before Congres s on Wednesday. Today, two additional subpoenas have been revealed, from a federal grand jury in New York and the US Securities and Exchange Commission. Justin Hyde, who reports from Washington for the Detroit Free Press , has an update.
Toyota Recall Now Includes the Prius In his second press conference since Friday, the president of Toyota announced today that the company is recalling an additional 437,000 vehicles worldwide. Unlike the racing accelerator pedal , this recall involves Prius and Lexus models and a software problem in the anti-lock braking system. Reporter Justin Hyde is in Washington for the Detroit Free Press .
Toyota's Total Recall After reported links to 19 deaths and many injuries, Toyota recalled almost 8 million cars for safety problems with floor mats and sticky accelerators . The owners of models that are subject to recall are waiting for notices to take their cars in for repair. Today, Transportation Secretary Ray LaHood told drivers of those models to park their cars; hours later he retracted the warning. Meantime, electronics are now under investigation, and concerns are being raised about the braking system on the hybrid Prius. How long did Toyota know about the problems before announcing the recalls? Will the repairs work? How serious are the latest concerns? What about Toyota's reputation for the best on the road? What kind of crisis management will it take to protect its brand?
Chrysler to File for Bankruptcy At his news conference last night, President Obama said Chrysler might not have to resort to bankruptcy. But several bond-holding hedge funds refused to take less than what they were owed. Today, the President denounced what he called “a small group of speculators.” As it files for Chapter 11 bankruptcy, Chrysler will be merging with the Italian company Fiat. Justin Hyde reports from Washington for the Detroit Free Press .
Ex-FBI Director Comey tells his side of the story Today, former FBI Director James Comey came close to calling the President who fired him a liar. The White House denied the claim and called it insulting, but Republican Senators did not challenge Comey’s truthfulness. Many questions remain: did the President try to obstruct a federal investigation? Later, we’ll go behind the “velvet rope” for a look at 5-Star health care for the richest Americans.
Janesville and the American Dream Janesville, Wisconsin is the hometown of Republican House Speaker Paul Ryan. But he couldn’t prevent the closing of the General Motors factory after 100 years. On this Memorial Day rebroadcast of To the Point, we hear what’s happened to what once was a model of American middle-class unity.
White House budget proposal slashes and burns President Trump's first budget request is considered dead on arrival in Congress — a familiar development in Capitol Hill. We hear what it reveals about the priorities of the new administration. What's likely to die… and what might survive?