Toyota Hearing Recap: The Essentials

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Akio Toyoda, the President of Toyota Motors (Stock Quote: TM), is currently taking questions from lawmakers on Capitol Hill in regard to the slew of recalls for accelerator, brake and steering problems the car company has issued in the past few months.

Here are some of the most noteworthy highlights, from CNN.com.

“5:07 p.m. -- Rep. John Duncan recommends that Toyota appoint ‘some Americans’ to its leadership in Japan.”

Uh yeah, we’re buying your cars, maybe you can hire a few of us. You know, we do have that whole little unemployment problem right now…

“4:43 p.m. -- Toyoda says he does not know exactly when the first reports came in, but that the company is working to put in place a structure to address future concerns quicker.”

Structure is nice. Not dying in a Toyota because the accelerator sticks would be better.

“4:30 p.m. -- By the middle of 2011, Toyota will make the readers that retrieve information from a black box commercially available in the American market.”

Good, so motorists will be able to figure out what led to their fatal crash without the help of the government!

“4:17 p.m. -- Rep. Dennis Kucinich says ‘the problem is not that you were moving too fast’ but that the company was ‘too slow to recognize material defects that put peoples' lives at risk.’”

Moving too fast, you get it, because your cars were moving too fast? Kucinich FAIL.

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