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As Toyota continues to plagued by safety recalls (this week, the automaker recalled 17,000 Lexus hybrids for faulty gas tanks), the company is facing legal trouble of another matter, this time over a patent controversy that could result in a ban of Toyota hybrids altogether. This patent fight originally began in 2004, when Paice LLC, [...]
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For several years now, reputation risk has been among the top threats listed by company executives when they are asked what keeps them up at night. There are several reasons for this. The emergence of 24-hour news, the internet and social media have created a world where corporate snafus that would have been merely a [...]
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The hits just keep on coming for Toyota. On the heels of a $16 million government fine and the potential for billions of dollars in loses after pending litigation shakes out, State Farm has asked Toyota to pay them back for any claims related to the unintended acceleration fiasco. Other insurers, including Allstate, are expected [...]
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For risk managers and others looking at the Toyota recalls as an ongoing lesson in corporate crisis response, seeing the daily headlines about the automaker’s woes is — both figuratively and literally — like watching a car crash. Sure, in some ways, Toyota has handled the situation adequately, and its rebounding stock price and recent [...]
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