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FBI Raids Toyota Suppliers

MRDETROITMETAL

By MRDETROITMETAL
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MRDETROITMETAL

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The FBI raided the offices three suppliers of Toyota Motors (NYSE: TM) Tuesday evening to investigate deeper into the controversy around Toyota and it hiding its quality problems. Shares of Toyota are sliding off their highs on this news at it hits the presses in late day trading. Toyota's shares are still up 3.07% on the day to $73.75.

As we wrote yesterday, we feel that the bad news is just beginning for Toyota. Check out our 9 Reasons To Run From Toyota's Stock.

Toyota supplier Denso Corp. says the FBI and Department of Justice have raided its U.S. headquarters as part of an antitrust investigation.

Denso spokeswoman Julie Kerr says the supplier's office, located in Southfield, Mich., was raided on Tuesday. She says the company is cooperating with the investigation, but declined to offer details of what the government was looking for.

Kerr says the investigation is unrelated to Toyota's recent recalls. Denso is a major parts supplier for Toyota and is one of two suppliers of its gas pedals. While gas pedals from the other supplier were involved in Toyota's sticky accelerator recall, Denso's have not been implicated.

http://www.benzinga.com/markets/company-news/141448/fbi-raids-three-toyota-supplier-offices-in-detroit-tm

:hissyfit:

Edited by MRDETROITMETAL
MRDETROITMETAL Newbie

MRDETROITMETAL

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^ THAT is a Very Good Question !!

Today on Capitol Hill one of the Congressmen ( from Indiana, I think) showed "pedals", two different models, one made by CTS ( a USA Company) and the Other by Denso ( a Japanese Company).

The claim he made was that ALL of the deaths came from Toyo's equipped with the Denso pedals.

This is certianly NOT Over yet...far from it if there can be a link established between Toyota & Denso to conspire to control the supplier marketplace !

...which resulted in faulty parts and deaths.

Ohh, Boy...if that proves to be the case, the Shiz has yet to hit the fan !!.

Edited by MRDETROITMETAL

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