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General Motors became second-largest US advertiser in 2013

General Motors might be mired in several recalls, as well as the ongoing investigations from the National Highway Traffic Safety Administration and Congress into the automaker's response to those recalls. However, the company can celebrate taking the title of the US' second-largest advertiser in 2013. According to Ad Week examining a recently released study, total advertising spending in the US posted its fourth consecutive year of rising expenditures with 0.9-percent growth to $140.2 billion. Of that, the auto industry spent $15.2 billion to promote its goods in 2013, up 3.8 percent.
The country's biggest advertiser was Procter and Gamble, which dropped $3.17 billion in 2013, an increase of 11.8 percent. GM became the nation's second largest promoter with $1.794 billion in spending, up 10 percent. The biggest proportion of that money went to sell Cadillac and GMC. AT&T barely lost out with $1.793 billion in advertising, 15.2 percent growth. The 10 businesses with the highest ad investments spent a cumulative $15.9 billion during the year, 6.6 percent higher than 2012. Toyota came in eighth place making it the only other automaker to rank in the top 10.
The study also indicates that there is a shift in advertising spending from television and print to the Internet. There was 15.7 percent more money outlaid to promote products online in 2013 than the previous year. In comparison, television dropped 0.1 percent, newspapers were down 3.7 percent and radio fell 5.6 percent.

Toyota nears $40B cash reserve as calls grow for new investment, payouts

With the April 15 tax deadline just a few months away, our US readers will be faced with a decision should they get a refund: save or spend? It seems this issue is one many of us face whenever there's a windfall, trying to decide whether we should set the money aside in an account of some sort or use it as a down payment on a new car or a trip to the Apple store. Unsurprisingly, major corporations face a similar, albeit more complex, issue.
Take Toyota, for example. With President Akio Toyoda at the helm, the Japanese manufacturer has gracefully weathered recalls and natural disasters, all while turning beaucoup profits. Last quarter, profits quintupled to 434.4-billion yen ($4.3-billion USD), according to Bloomberg. Toyota also upped its forecast for the end of fiscal year 2013 (which ends on March 31 for Japan), to a record 1.9-trillion yen (about $18.8 billion). Now, the Japanese brand is reportedly sitting on a cash pile of nearly $40 billion, leaving Toyoda-san in an envious predicament - what should the company do with all that money?
Some think Toyota should be doing something, anything with that big stack of cash.

Judge halts Toyota unintended acceleration cases, triggers time for settlement negotiations

So far, the lawsuits brought forth against Toyota for unintended acceleration have gone both ways: the automaker was found not at fault in a 2009 California crash and liable for a 2007 crash in Oklahoma. Both cases involved a Camry and resulted in fatalities. With a big chunk of these UA cases (around 200) set to his the docket of US District Judge James V. Selna in Santa Ana, California, Bloomberg is reporting that the judge has halted the lawsuits until March after Toyota and its lawyers have had extra time to try and settle the cases.
According to the article, Toyota is looking to take care of the cases out of court with an "intensive settlement process." Having already paid out $1.6 billion in "economic loss" suits, this latest settlement process is aimed at the wrongful death and personal injury cases allegedly associated with unintended acceleration. A hearing for the settlements will be held on January 14 with conferences on the matter commencing in February. There is no word as to when lawsuits may start back up if settlements can't be agreed upon.