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Jim Lentz exposes more details behind Toyota's move to Texas

Toyota's North American CEO Jim Lentz has already given us a rough idea of what prompted the company's surprise move to the Dallas suburb of Plano, TX from its longstanding headquarters in Torrance, CA. A new story from The Los Angeles Times, though, delivers even more detail from Lentz on the reasoning for the move, what other cities were considered and why the company's current host city wasn't even in the running.
Of course, one of the more popular reasons being bandied about includes the $40 million Texas was set to give the company for the move, as well as the state's generous tax rates. According to Lentz, though, the reason Toyota chose Plano over a group of finalists made up of Atlanta, Charlotte and Denver, was far simpler than that - it was about consolidating its marketing, sales, engineering and production teams in a region that's closer to the company's seat of manufacturing in the south.
"It doesn't make sense to have oversight of manufacturing 2,000 miles away from where the cars were made," Lentz told The Times. "Geography is the reason not to have our headquarters in California."

HQ move based on study, not pitch from Gov. Perry, Toyota says

Toyota's surprising announcement on Monday that it will move its North American headquarters from Torrance, CA location to the Dallas suburb of Plano, TX is allegedly not due to any political wrangling from the state's Republican governor, Rick Perry.
Perry (above) has been up front in his aggressive pursuit of businesses and jobs for Texas, traveling to California, Missouri, Illinois and New York to tempt corporations to his state. And it's not just about the promise of much lower taxes, a Perry spokesman reminds Automotive News that the state boasts, "a workforce that is skilled and ready to do any job."
For his part, Jim Lentz, Toyota's North American CEO said Plano was chosen through an internal process, with the location helped by its proximity to the company's massive pickup factory in San Antonio rather than any campaigning from the governor.

U.S. and Toyota Reach Settlement Over Safety Problems Disclosure

The U.S. has reached a $1.2 billion settlement with Toyota Motor Corp., concluding a four-year criminal investigation into the Japanese automaker's disclosure of safety problems, according to a person close to the investigation. Attorney General Eric Holder, Transportation Secretary Anthony Foxx and U.S. Attorney for the Southern District of New York, Preet Bharara, were announcing the settlement Wednesday morning, said the official, who spoke on condition of anonymity because the official was not authorized to discuss the settlement on the record before the announcement. TOP 5Most Researched Green Cars On AOL Autos 2013 Honda Fit EV MSRP : $36,625 2014 Chevrolet Spark EV MSRP : $26,685 2012 Mitsubishi i-MiEV MSRP : $29,125 2012 Ford Focus Electric MSRP : $39,200 2012 Toyota Prius Plug-in MSRP : $32,000 In a statement early Wednesday, Toyota said it has "cooperated with the U.S. Attorney's office in this matter for more than four years" and had "made fundamental changes to become a more responsive and customer-focused organization, and we are committed to continued improvements." The criminal investigation focused on whether Toyota was forthright in reporting problems related to unintended acceleration troubles. Starting in 2009, Toyota issued massive recalls, mostly in the U.S., totaling more than 10 million vehicles for various problems including faulty brakes, gas pedals and floor mats. From 2010 through 2012, Toyota Motor Corp. paid fines totaling more than $66 million for delays in reporting unintended acceleration problems. The National Highway Traffic Safety Administration never found defects in electronics or software in Toyota cars, which had been targeted as a possible cause. The settlement continues a string of bad publicity for Toyota, which before the unintended acceleration cases had a bulletproof image of reliability. Since the cases surfaced, the company's brand image has been damaged and it has lost U.S. market share as competition has intensified. Last year, Toyota agreed to pay more than $1 billion to resolve hundreds of lawsuits claiming that owners of its cars suffered economic losses because of the recalls. But that settlement did not include wrongful death and injury lawsuits that have been consolidated in California state and federal courts. In December, Toyota filed court papers after a four-year legal battle saying that it's in settlement talks on nearly 400 U.S. lawsuits, but other cases aren't included in the talks.