This is my third letter on the subject of law suits against the Toyota Company. It seems the ghouls I referred to before have just gotten started. It was reported on March 22, 2010 that new law suits are being filed against the company. These are to recover losses in stock value due to the recent recalls of vehicles. I wonder what effect these will have on further driving down the value of the company’s stock value.
Just for kicks I googled the stock history of General Motors. In the late 90’s a share of stock was worth in the $80’s per share. The latest selling price is $0.75 per share. How about that for losing value. This is even after being bailed out by our government to the tune of billions. I don’t suppose closing down the Hummer Division or Saturn or Pontiac had any adverse effect. In fact if you are interested check out the various actions of the company since the 1900’s and you will see a continuing process of selling off assets.
In my opinion the mismanagement of this company was outrageous. They refused to enter the new world of fuel efficient vehicles while Toyota led the field. I tried to find out if there were class action law suits in process against the loss in value of General Motors stock. I couldn’t find it. Perhaps you will.
To put an end to this letter I would like to come to the defense of all industry. The quality level when compared to a few decades ago is fantastic. The dependability has vastly improved.
Law suits against products produced today our creating havoc with the profitability of many manufacturing companies. The profit margin per unit sold is not large enough to pay out billions. There must be a way to control them or manufacturing will go the way of the Dodo bird.
Jack B. Walters
3961 N. Hillwood Circle
Tucson, AZ 85750
(520) 722-2958
March 23, 2010
jackbwalters@yahoo.com
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