Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Toyotas sales halt shouldnt affect CU
HAWTHORNE, Calif. (1/28/10)--Toyota’s production and sales halt of recalled 2010 models should not affect Toyota workers who are members of Western FCU, in Hawthorne, Calif., CEO John Bommarito said Thursday. In November 2007, Toyota FCU, Torrance Calif., merged into Western FCU. “Toyota doesn’t lay anybody off,” Bommarito told News Now. “They all go into maintenance and training [if production jobs were cut]. Toyota goes to full cost to keep them employed. That’s very much part of the Toyota culture. Production could be interrupted. We’re just monitoring the situation. “We value the relationship with the Toyota members who came across after the merger,” he added. Western cannot reveal the percentage of its membership who works for Toyota because of confidentiality guidelines, Bommarito said. Toyota Motor Corp. said Tuesday it would temporarily halt building and selling eight 2010 models because it is struggling to fix a problem with accelerator pads. The moves come in the aftermath of two company recalls in the past two months of millions of vehicles that have a problem with a gap deal that can stick and cause a vehicle to speed up unintentionally, Toyota said (The New York Times Jan. 27). Toyota said it would immediately cease selling the Camry, Corolla and Avalon sedans, Matrix wagon, RAV4 crossover, Tundra pickup, and Highlander and Sequoia sport utility vehicles. The recall of the eight models affects about 55% of its new-car inventory. The production halt will last until the company finds a remedy for the stuck-throttle problem. Previously the company said that could take weeks, but it provided no time line Tuesday (USA Today Jan. 27). Western FCU has more than $1.95 billion in assets.
Other Resources

RSS





print
News Now LiveWire
Registration lottery for #CreditUnion #CherryBlossom Ten Mile Run opens Monday, Dec. 1 http://t.co/AGkKPof5Fy. Race is April 12
1 Day ago
The turkey hasn't even been served and #creditunions are already making plans for #GivingTuesday
1 Day ago
.@bankofamerica's $16.65 billion 'toxic mortgage' settlement finalized http://t.co/BIq1QyImXG
1 Day ago
RT @CUNA: #NussleReport: ICYMI: Revised RBC proposal in January w/a 90-day comment period #Fix RBC http://t.co/T4JcvWBDse
1 Day ago
.@TheNCUA release on Nov. prohibition orders out already. Here: http://t.co/YkA1QIYbYa
1 Day ago