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A top government auto safety official tells Congress that his agency may need more authority to regulate the auto industry.
Toyota's massive recalls are prompting Congress to reconsider whether the nation's auto safety agency has lived up to its mission of protecting motorists.
The Baltic Dry Index, a leading economic indicator used by market insiders to gauge global demand for dry commodities, is up over 20 percent in the past month. While some critics have claimed that the index is an inaccurate measure, Omar Nokta, head of research for marine transport at Dahlman Rose, said it still remains reliable.
The driver of a Toyota Prius told police in suburban New York that her car accelerated on its own, then lurched down a driveway, across a road and into a stone wall.
Toyota said on Tuesday it would fix all Tundra pickups sold in the United States for the 2000 to 2003 model years to address a risk that part of the truck's frame could corrode, causing spare tires or even the gas tank to drop to the road.
Over one hundred body scanner machines bought with federal stimulus funds are due to arrive in American airports as soon as next week, with Boston's Logan Airport set to flip the switch on three new machines Monday.
The Obama administration may recommend all new cars are fitted with a "smart" brake overide system, U.S. Transportation Secretary Ray LaHood said Wednesday.
Several senators on the Commerce, Science and Transportation Committee, which held a hearing Tuesday to investigate Toyota's safety issues and recall, have connections to the Japanese automaker.
Baggage fees may be the cause of more grumbling among passengers, but airlines are trying to draw attention to other charges lurking in the fine print, says the New York Times.
For a company that so many people admire, it would certainly be ironic to see a scandal bring Toyota down. Toyota would then be studied not only for its history of success based on quality, but also as an object lesson on what happens to a brand when integrity is compromised.
Many in Congress and the aerospace industry think NASA is engaging in funny business when it comes to the future of space. The space agency this week is taking a lot of heat for farming out a lot of post-Shuttle work to smaller commercial contractors, so that NASA can focus on Mars. .
Plus, Michael Ward tells us if we can trust that recent dividend boost.
It seems that almost everyone likes JetBlue and some people even claim to love the company. As well they should. JetBlue has taken the bad name out of flying and is proof positive that no condition in business is too dire to turn around.
Ever since his 1996 Toyota Camry shot up an interstate ramp, plowing into the back of an Oldsmobile in a horrific crash that killed three people, Koua Fong Lee insisted he had done everything he could to stop the car.
Fresh from a grueling appearance before Congress, Toyota's chief executive met with Transportation Secretary Ray LaHood on Thursday and pledged "to advance safety to the next level."
Corporate leaders in Japan are affable cheerleaders who solicit everyone's views and avoid confrontation at almost any cost. It's called "nemawashi." U.S. lawmakers are cut-throat partisans who clamor for the spotlight, especially in an election year. It's called politics.
General Motors said Wednesday it will shut down Hummer after its bid to sell the brand to a Chinese company collapsed.
Lawmakers heard a brief, but riveting, description of Toyota's problem with the sudden acceleration of its cars from Rhonda Smith, a Tennessee woman whose Toyota-made Lexus suddenly zoomed to 100 miles per hour as she tried to get it to stop — shifting to neutral, trying to throw the car into reverse and hitting the emergency brake.
The Japanese automaker said it received a subpoena from a federal grand jury in New York seeking documents related to unintended acceleration in its vehicles and the braking system of its Prius hybrid.
UAL has been outperforming, and the options action remains bullish.