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Toyota is in a huge mess with the recall of millions of vehicles over unexpected acceleration and, now, brake problems.
Can Toyota pull out of this skid?
As I explain in this week's Business Casual column, Toyota can learn a lesson about the urgency of its problems by considering my issues with a Subaru 15 years ago.
The foreclosure rate in the Los Angeles-Long Beach-Glendale area rose in December compred to a year earlier, according to First American CoreLogic, which compiles foerclosure data.
The foreclosure rate among outstanding mortgage loans in this area was 3.86 percent for December, an increase of 1.91 percentage points compared to December of 2008 when the rate was 1.95 percent.
Foreclosure activity in the Los Angeles-Long Beach-Glendale area was higher than the national rate of 3.16 percent for December 2009.
In addition, the Los Angeles-Long Beach-Glendale area's mortgage delinquency rate increased, with 11.71 percent of mortgage loans 90 days or more delinquent in December, compared to 6.78 percent for the same period a year earlier.
Will this serve as another reason for potential Toyota buyers to look elsewhere?
Toyota Price Recommendations on Kelley Blue Book Cut(Bloomberg) Toyota Motor Corp. vehicle prices recommended by Kelley Blue Book may be trimmed as much as 5 percent after a recall to fix a defect causing sudden acceleration.
The Toyota recall prompted Kelley Blue Book, the used-auto pricing service used as a guide in private-party transactions, to lower suggested rates on involved vehicles by 1 percent to 3 percent, Robyn Eckard, a Kelley spokeswoman, said today in an e- mail. Any delay by Toyota in resolving the issue may reduce prices by 3 percent to 5 percent, she said.
Read more on Toyota's recall problems.
Too bad politics gets in the way of business so often. By angering China, did Boeing inadvertently help its European rival Airbus? I wonder if Airbus parent EADS has crossed China by selling arms to Taiwan.
Boeing may be the unintended casualty of last week's arms sale to Taiwan.(Business Insider) Beijing responded to the $6.4 billion deal with fury, threatening to discontinue security cooperation and impose unprecedented sanctions on US firms involved, according to China Daily.
Read more on China's anger at Boeing over Taiwan sale.
