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2014 Toyota Corolla

Reprising The Recipe For A Perfect Slice Of Toast
My toaster broke the other week. Halfway through the process of cooking my gourmet Pop-Tart breakfast, the thing crapped out with a small bang, leaving my delicious morning treats trapped inside. To rectify the situation, I ventured out to a big box store, located the toaster aisle, and ran a couple of questions through my mind. Do I need two slots or four? Do I need to spend more than 20 bucks on this thing? Should I just buy a toaster oven to give me a wider range of bachelor-pad cooking functionality? After no more than two minutes of contemplation, I grabbed the cheapest one on the shelf, paid and left the store. The new toaster works just fine.
This sort of unemotional shopping experience is how I suspect people decide to purchase the Toyota Corolla. It's a perfectly fine appliance, and to a good number of people in the world, the bond between a car and a driver is no more important than the connection I feel to my toaster. Does it seat four people relatively comfortably? Does it get decent fuel economy? Is it easy to drive? Reliable? Safe? The Corolla checks all of these boxes, and because of that, Toyota managed to move just under 300,000 examples of the tenth-generation car in 2012 (though that number does include sales of the Corolla-based, now-deceased Matrix) - a vehicle that, at the time, was already six years old.

Toyota plans biggest stock buyback in over a decade

At the end of December, 2013 Toyota had a cash stockpile of 1.8 trillion yen ($17.5B US). As of March 31, at the end of its current financial year, company coffers are expected to swallow another 1.9 trillion yen ($18.4B US) in net profit - said to be a record sum for the Japanese automaker. In a gesture signaling a turnaround from the horrors of the global recession, Bloomberg reports that Toyota will buy back 60 million shares of its stock, as much as 1.89 percent of the company, for something like 360 billion yen ($3.5B US). It's the first buyback since 2009 and the largest buyback since 2003, when it spent roughly 390 billion yen ($3.8B US) repurchasing shares.
Company president Akio Toyoda founded the Toyota Mobility Foundation (TMF), a non-profit that will support international groups working on transportation issues in emerging markets. Half of the stock that Toyota buys, 30 million shares, will be sold to the foundation via the Japanese Trustee Services Bank for one yen per share, the dividend providing the foundation's initial funding. The other 30 million shares will be canceled, a company spokesman telling Reuters that the company wants to reward shareholders.
Industry analysts have been asking Toyota to either return money to shareholders or invest in new factories, but Toyota has ruled out the latter. After getting burned with excess capacity when the financial crisis came, the company is focused on extracting efficiencies from the plants it already has. Toyota has said it plans to complete the buyback by June of this year.

Japanese spark plug giant NGK pleads guilty to price fixing, to pay $52M fine

The ongoing investigation by the Department of Justice into price fixing in the automotive industry has nabbed one more company breaking the law. Japanese parts giant NGK Spark Plug Company agreed to plead guilty to a felony count of pricing fixing and bid rigging in the in the US District Court in Detroit. Its punishment is a $52.1 million criminal fine and to continue to cooperate with the DOJ's sleuthing into the problem.
According to the DOJ, NGK conspired to fix prices on spark plugs, standard oxygen sensors, and air fuel ratio sensors on vehicles from major automakers in the US, including the former DaimlerChrysler, Honda and Toyota, in a scheme that ran from at least January 2000 to July 2011. The charge claimed that the company and its co-conspirators held meetings where they agreed on bids and price quotes that were submitted to the automakers.
With the latest plea, the DOJ has caught 28 companies and 26 executives for price-fixing and bid rigging in the auto parts industry, and they have collected $2.4 billion in criminal fines. In 2013, the feds brought nine Japanese suppliers down at once, to collect $740 million. Scroll down to read the DOJ's complete announcement of the case.