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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.

Russian videographer nails this real-life 'Need for Speed' recreation

Aaron Paul and Kid Cudi tried. They really did. They put forth a decent acting effort, played with some incredible replica supercars, and filmed at some remarkable settings. But it's 2019, and 2014's "Need for Speed" sits at a 6.5/10 on IMDB, a 39 on Metacritic, and a 57% audience score on Rotten Tomatoes. The studio attempt to bring "Need for Speed" to life was lukewarm, so a Russian videographer took a shot at the idea with this impressive digital short. Unearthed by Reddit user, AbuDab1, the clip is the work of Russia-based videographer @Chekunov_v. Clearly a fan of all things fast and fancy, as seen by his Instagram, Chekunov recreated the start screen, the garage with car and mod selection, and the race sequences from the video game. The video starts with an Acura RSX Type-S (labeled as the Integra Type R) with familiar theme music playing in the background. Accompanied by video game sound effects, the spotlight switches between a Toyota Celica, a Toyota Supra and a Mitsubishi Lancer Evo. The Supra and Evo are locked, so the user settles on the Celica. He goes on to select mods, including a new spoiler, new wheels and a new color, again to the tune of the proper sound effects, menus and camera views. The car exits the garage and rolls onto the road, where the screen now shows a tachometer and an N2O gauge. The Celica is met with a race challenge, and the car lines up with a Mazda RX-8, an Acura RSX Type-S and a Subaru WRX STI. After a terrible launch, the Celica uses some NOS and takes the victory. Unfortunately, the video is a bit 2 fast, 2 short for our taste. It's well done, has some unique video work, and takes us back into one of our favorite video game series. Maybe this guy can direct the studio sequel.

Toyota's Texas move could boost state's economy by $7.2B in 10 years

They say everything is bigger in Texas, and apparently that includes the Toyota's effect on the economy. The giant Japanese automaker's new headquarters in Plano, TX, will add an estimated $7.2 billion to the state over the next 10 years, according to a new study commissioned by the city and cited by Bloomberg.
The benefits appear to be an absolute steal compared to the direct incentives that Plano and the state are giving Toyota. The report finds that by the time the automaker's campus is complete in 2018, it could have 3,650 full-time workers there at an average salary of $104,000. The city has prepared $6.75 million in grants, plus property tax discounts, according to Bloomberg. In addition to that, the state is offering the business $40 million in incentives from its Texas Enterprise Fund. This is still a fraction of what Toyota is estimated to bring in.
Toyota announced in April that it would move its US operations to Plano after being headquartered in California since 1957. The move affects thousands of employees from the sales and engineering divisions. The first workers will arrive there this fall, but Toyota will eventually have a whole campus in Plano by late 2017. The move is expected to save it huge amounts in taxation and offer employees a lower cost of living. Toyota North America CEO Jim Lentz also says that the Texas location puts the headquarters closer to more of the business' factories in the south. Texas certainly appears to be showing it some southern hospitality.