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I was reflecting myself on the brand damage this would have caused. We've always had a thing in our family that a Toyota is a safe, solid purchase. I must have

by beachy 5y ago

I was reflecting myself on the brand damage this would have caused. We've always had a thing in our family that a Toyota is a safe, solid purchase. I must have shared that with 10 people or more over the years. Then in the last couple of days since this story broke, I've shared this with 2 or 3 people as a reason to be cautious about buying Toyota. It baffles me why anyone ever thought this was a good idea. Even if they back down, I'm left with an uncomfortable feeling that Toyota has lost their way. Brand loyalty is hard to earn and apparently easy to fritter away.

reaperducer 5y ago
It baffles me why anyone ever thought this was a good idea Because C-level people are judged based on their revenue for the next quarter, not the legacy of the company. Yet another company ruined by Wall Street, and greed disguised as "maximizing shareholder value."
- xattt 5y ago
  There’s an assumption that Toyota being a Japanese company will make decisions in a holistic manner that is not driven by corporate greed.
  - sebastien_b 5y ago
    We all know what happens when people make assumptions…
  - bobthepanda 5y ago
    Japan doesn't necessarily have MBA types who pump dying companies full of debt to feed off the carcasses, but there's certainly not any sort of good corporate governance either. https://www.japantimes.co.jp/news/2020/02/15/business/corporate-business/toshibas-latest-scandal-subsidiary-found-booked-%C2%A543-5-billion-fictitious-sales/ https://www.japantimes.co.jp/news/2020/02/15/business/corpor... > Toshiba Corp. said Friday that a subsidiary booked fictitious sales of ¥43.5 billion in 26 transactions recorded only on paper. The scandal may again throw Toshiba into a crisis similar to its massive accounting fraud in 2015... In the troubled conglomerate’s 2015 accounting fraud, Toshiba padded profits by more than ¥200 billion.
    - UncleEntity 5y ago
      I’m no expert but am pretty sure Toyota and Toshiba are different companies.
      - fennecfoxen 5y ago
        I’m not an expert either, but I can able to notice where a conversation holds up “Japanese corporate governance” as some noteworthy model :)
14 5y ago
I emailed them saying if you are so cheap to do a cash grab in this area what other areas are you sacrificing the quality of your cars to cut costs. I told them how I was disappointed and that something as simple as this would make me consider my second favorite car brand over them. Glad to see they received a lot of backlash.
- webinvest 5y ago
  For what it’s worth, almost every phone call to Toyota corporate in Dallas gets transcribed, categorized, and shared with many employees in the company so it’s worth doing. Emails do too but they show up second after the phone call transcriptions. App reviews on apps like Entune and Enform are read out-loud weekly; sometimes daily. However, Toyota corporate in Dallas is second fiddle to the Toyota in Japan and has decision making power for only some things. They certainly listen to the customer.

by beachy 5y ago

reaperducer 5y ago

It baffles me why anyone ever thought this was a good idea Because C-level people are judged based on their revenue for the next quarter, not the legacy of the company. Yet another company ruined by Wall Street, and greed disguised as "maximizing shareholder value."

xattt 5y ago
There’s an assumption that Toyota being a Japanese company will make decisions in a holistic manner that is not driven by corporate greed.
- sebastien_b 5y ago
  We all know what happens when people make assumptions…
- bobthepanda 5y ago
  Japan doesn't necessarily have MBA types who pump dying companies full of debt to feed off the carcasses, but there's certainly not any sort of good corporate governance either. https://www.japantimes.co.jp/news/2020/02/15/business/corporate-business/toshibas-latest-scandal-subsidiary-found-booked-%C2%A543-5-billion-fictitious-sales/ https://www.japantimes.co.jp/news/2020/02/15/business/corpor... > Toshiba Corp. said Friday that a subsidiary booked fictitious sales of ¥43.5 billion in 26 transactions recorded only on paper. The scandal may again throw Toshiba into a crisis similar to its massive accounting fraud in 2015... In the troubled conglomerate’s 2015 accounting fraud, Toshiba padded profits by more than ¥200 billion.
  - UncleEntity 5y ago
    I’m no expert but am pretty sure Toyota and Toshiba are different companies.
    - fennecfoxen 5y ago
      I’m not an expert either, but I can able to notice where a conversation holds up “Japanese corporate governance” as some noteworthy model :)

14 5y ago

I emailed them saying if you are so cheap to do a cash grab in this area what other areas are you sacrificing the quality of your cars to cut costs. I told them how I was disappointed and that something as simple as this would make me consider my second favorite car brand over them. Glad to see they received a lot of backlash.

webinvest 5y ago
For what it’s worth, almost every phone call to Toyota corporate in Dallas gets transcribed, categorized, and shared with many employees in the company so it’s worth doing. Emails do too but they show up second after the phone call transcriptions. App reviews on apps like Entune and Enform are read out-loud weekly; sometimes daily. However, Toyota corporate in Dallas is second fiddle to the Toyota in Japan and has decision making power for only some things. They certainly listen to the customer.