$16M to Toyota is like the cost of a candy bar to you or me.

[Stinky The Clown]

Wow. Tough fine. Sixteen whole million dollars.

In 2009, they had an income of $64,624,000,000.

Here's how the fine looks against that: $16,000,000

$16M is chump change.

And we're the chumps.

[Kutjara]

1. Yep, they'll add a nickel to the cost of a cup of coffee at the factory cafeteria...

...and recoup the fine in a year. When will we learn that the only way to ensure corporate compliance is to hit them where they live: in their bank accounts?

Of course, corporations have a long-standing answer for that: "We'll have to pass the cost of the fine on to consumers. So fuck you. And the horse you rode in on."

[panader0]

2. I had that same thought when I saw the amount

[YOY]

3. And the damage to the brand reputation is much much costlier.

This will cost them sales. Those sales will be more than 16 million I am sure. Not that it shouldn't be more than 16 million...but simply stating that there are other effects to their bottom line.

Hate to say "invisible hand" but in this case with numerous competitors in the same market it is absolutely applicable.

[old mark]

4. Rec: STC_ Perspective is good - Remember maybe 10 years ago a woman

sued McDonalds because she spilled hot McD's coffee on herself and sustained second degree burns? She won a multi million dollars, which was paid by the McDonalds Corporation, which made that amount from coffee sales in under 20 seconds - that really hurt them, huh?
Of course her lawyers probably got 40%.

Link: http://en.wikipedia.org/wiki/Liebeck_v._McDonald's_Restaurants



mark

[Stinky The Clown]

6. It is long past time that we make fines that mean something.

I will bet ANYTHING that, literally, Toyota spends more on copiers and photocopies than this fine is worth.

[old mark]

7. They probably spend that on snacks for meetings with the lawyers

to weasel out of paying lawsuits.


mark

[newscott]

5. Look up the fine for Boston Scientific. $296 million. Yep.

[Odin2005]

8. These wimpy fines are how the PTB give the illusion of doing something.