The memo leak has begun. Today's headlines about Toyota lobbyists bragging about saving the company $100 million by getting NHTSA to agree to a relatively small-scale fix to the unintended acceleration problem will surely inflame Congress. Of course, the leak of the memo almost certainly came from a Congressional staffer. (The Congressional investigators subpoenaed Toyota for the document after being tipped off by a lawyer suing the company.) See how this works?
Toyota President Akio Toyoda should expect a circus when we testifies before Congress this week. He had no choice; as the leader of a global company facing the greatest crisis in history; he had to step up and face the music. But he better be ready for some tough questioning.
Count on it, Akio: It will be unpleasant and it will seem like odd theater. Hopefully you're ready.
As a look ahead to what Toyoda might endure, Edmunds.com offers an excerpt from a chapter in my book Feeding Frenzy, entitled "Congressional Circus Act."
This will be interesting to watch. And remember, we're still in the early innings.
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