• News
  • Hi-Tech

Automakers reach $553 million settlement over faulty Takata airbags

Automakers reach $553 million settlement over faulty Takata airbags

Toyota, Subaru, Mazda and BMW have reached a proposed settlement that would compensate owners of 15.8 million vehicles for economic losses stemming from the massive recall of Takata air bags. These settlements' focus on outreach is meant to increase completion rates, and the automakers strongly encourage all consumers in the USA who own any vehicle - regardless of make, model or age - to log on to NHTSA's recall website at https://www.nhtsa.gov/recalls, to ensure that any open recalls are addressed immediately.

Takata's inflators were blamed for at least 16 deaths and more than 180 injuries around the globe. The safety defect has prompted recalls worldwide of about 100 million inflators by 19 major automakers, the largest automotive recall ever for a single safety issue. The problem touched off the largest automotive recall in US history involving 42 million vehicles and 69 million air bag inflators. Given the size, scope and severity of the Takata recall, these automakers are the first to agree to a settlement structure to fund consumer outreach, rental car/loaner programs and out-of-pocket cost reimbursement.

Millions of auto owners whose vehicles were outfitted with faulty Takata airbags could soon receive some type of compensation - possibly a check for as much as $500. "It will take years to complete the recalls".

Other auto makers including Honda Motor Co., Ford Motor Co. and Nissan Motor Co. aren't part of the settlement, and still face lawsuits seeking recompense for financial losses, plaintiffs' lawyers said.

Si Woo Kim to leave golf for military service
Once Kim dropped his three birdies putts, he was unrelenting, especially when he made par saves on six of the back-nine holes. Compatriot Sang Moon Bae - also a two-time victor on the PGA Tour - is now serving two years of mandatory military service.

China pledges $124 billion for new Silk Road plan
The huge amount will contribute to the Silk Road Fund, which was set up in 2014 to finance infrastructure projects. What is China's new Silk Road? The China Development Bank has earmarked $890 billion for some 900 projects.

North Korea claims its new long-range missile can carry heavy nuke
North Korea says Sunday's launch was of a new type of "medium long-range" ballistic rocket that can carry a heavy nuclear warhead. While North Korean's arsenal of missiles is becoming clearer, there is less certainty about how developed its nuclear program is.

Among the benefits provided for in the settlements is a new independent outreach program that seeks to dramatically increase recall remedy completion rates.

According to Toyota, the agreement will reimburse plaintiffs for travel costs while their cars are repaired. Under the terms of the settlements, BMW of North America LLC will pay $131 million, Subaru of America Inc. will pay $68,262,257 and Mazda North American Operations agreed to pay $75,805,050.

Toyota would pay the most under the settlement, at $278.5 million.

In January, the company pleaded guilty to corporate criminal charges and agreed to pay a $1 billion fine. Honda at the time said the allegations made false assertions that it and other auto makers behaved irresponsibly despite Takata admitting to deceiving the Japanese auto maker and other vehicle companies.

Leave Your Comment

Leave Your Comment


Latest News

  • Controversy over Trump's Israel policy continues ahead of visit

    Controversy over Trump's Israel policy continues ahead of visit

    The President will meet with Palestinian President Abbas in Bethlehem and with Israeli Prime Minister Netanyahu in Jerusalem . The row erupted a few days before the first official visit of US President Donald Trump to the region, Xinhua reported .

    Merkel's party snatches state from rivals in crushing election win

    Kraft told ARD television she had "asked Martin Schulz to let national politics wait until the election was over". North-Rhine Westphalia was previously a stronghold for the SPD.
    Cisco Systems, Inc. (CSCO): Ignore the noise and focus on the technicals

    Cisco Systems, Inc. (CSCO): Ignore the noise and focus on the technicals

    Seven Eight Capital LP acquired a new stake in shares of Cisco Systems during the fourth quarter worth approximately $112,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link .
  • Japan cabinet approves bill to allow emperor to abdicate

    Japan cabinet approves bill to allow emperor to abdicate

    The bill also did not mention about the imperial family allowing women to stay in the palace upon marriage, Reuters noted. Historically, abdication of Japanese emperors was common, with about half of the 125 Japanese emperors having abdicated.
    Free agent DB McCourty signs 2-year deal with Browns

    Free agent DB McCourty signs 2-year deal with Browns

    Additionally, McCourty intercepted 13 passes, which he returned for 99 yards, defended 73 others and forced seven fumbles. The 29-year-old spent his first eight seasons in Tennessee before being released by the Titans on April 17.
    Indians call up former No. 1 pick Zimmer from minors

    Indians call up former No. 1 pick Zimmer from minors

    For Bradley Zimmer , that first-career dinger came after a miserable 0-for-3, three strikeout debut so it was that much sweeter. Really nice numbers, but hardly mashing in a way that would make a general manager say "we have to get this kid up pronto!"
  • Idaho law enforcement pay tribute to fallen officers

    Idaho law enforcement pay tribute to fallen officers

    He was joined by North Las Vegas Police Chief Alex Perez, City Councilman and former Metro Police Capt. Lucie County were remembered Thursday in a memorial service during National Police Week.
    More immigrants arrested, fewer deported under Trump

    More immigrants arrested, fewer deported under Trump

    Immigration enforcement operations have generated headlines nationwide since Trump signed an executive order on January 25. Immigrant rights advocates challenge the notion that stricter immigration enforcement equals safer communities.
    Former MotoGP champion Hayden hit by car in Italy

    Former MotoGP champion Hayden hit by car in Italy

    It's being reported that he suffered severe head and chest trauma after being struck by a auto near Rimini, Italy. The medical teams are working hard, and we will provide updates as soon as they are available....
  • Actress Reema Lagoo dies of cardiac arrest

    Actress Reema Lagoo dies of cardiac arrest

    Lagoo's son-in-law Vinay Waikul told PTI, "She was complaining of chest pain so we took her to hospital around 1 AM". Veteran film, stage and television actress Reema Lagoo died following a cardiac arrest early on Thursday morning.
    Lighthizer Backs Reversing `Dangerous' American Trade Trajectory

    Lighthizer Backs Reversing `Dangerous' American Trade Trajectory

    Any deal, however, would need agreement from the US sugar producers who brought an anti-dumping case against Mexican competitors. The U.S. sugar lobby wants Mexico to export less refined sugar and has become emboldened since Trump took office.

    Chelsea close in on title and condemn Boro to relegation

    Gary Cahill has insisted Chelsea are not getting complacent as they edge ever closer to the Premier League title. The Blues haven't looked back since and will face West Brom on Friday knowing a victory will secure the title.
  • 'Shock' As Tories Gain In Glasgow From Labour

    Their vote share will rise from the 13% they got at these elections last time out, there'll be more Conservative councillors. Both Labour and the Conservatives had five councillors elected, with the result for the Tories up four on five years ago.
    Popular Mover to Observe: The Coca-Cola Company (KO)

    Popular Mover to Observe: The Coca-Cola Company (KO)

    The High Revenue estimate is predicted as 9.97 Billion, while the Low Revenue Estimate prediction stands at 8.87 Billion. The Coca-Cola Company (KO ) 52 week low value is at $39.53 and its current distance from 52 week low value is 10.93%.
    Potentially Severe Storms Forecasted For Minnesota

    Potentially Severe Storms Forecasted For Minnesota

    However, it doesn't appear high end severe weather will be as likely as cooler air intrudes into the area. Tuesday will be another warm and humid day with highs again in the upper 80s.
  • Howell school budget tops $121M for 2017-18

    Howell school budget tops $121M for 2017-18

    The second phase of a long-term plan to renovate and upgrade district schools will turn the attention to elementary schools. In 2016-17 the budget totaled $117.72 million and was supported by the collection of $76.62 million in local taxes.
    Travel ban judges scrutinize Trump's Muslim statements

    Travel ban judges scrutinize Trump's Muslim statements

    Today's case was heard by three judges who were all appointed by President Bill Clinton, so they could move relatively quickly. Watson found that the travel ban likely violated the constitution's Establishment Clause by discriminating against Muslims.

    Spicer on the Way Out, Sanders In?

    The reports of a possible staff shake-up in the White House come amid intensifying criticism of the Trump administration over its shifting accounts this week on the president's reasoning to sack FBI Director James Comey .

Breaking News



Recommended

Kylie Jenner : People have misconceptions about who I am

Kim teased that fans will get a front row seat to their little sister's life, including her dating and work lives. A source tells Hollywood Life , " Kylie and Trav have been discussing moving into her new pad together".

Man Utd boss Mourinho blasts Real Madrid

The former Santos star has scored 19 goals and assisted a further 25 strikes for his colleagues in 43 games this season. Madrid has won two Champions Leagues in the last three seasons, but it hasn't been successful in La Liga since 2012.

Henderson Land Buys Car Park Site in Hong Kong's Central for $3B

I am grateful to the Central People's Government and relevant authorities for their support of the launch of Bond Connect. No formal launch date was given.

Pope leads thousands in prayer at Portugal shrine

In a video message to the people of Portugal before his journey, Pope Francis said he would "present" himself to the Virgin Mary . The pope rode in an electric golf cart to the air base's tiny chapel.

Sudan's President Invited by Saudi Arabia to Trump Meeting

Trump will also visit Israel and the Vatican, and later on Brussels and Sicily for a North Atlantic Treaty Organisation summit. By contrast, "we don't get criticized about the war in Yemen " by the Trump administration, the senior Saudi official said.

South Korea recalls Hyundai cars, asks probe on cover-up

The recall was brought about by the actions of a whistle-blowing engineer who worked for Hyundai, Kim Gwang-ho. Hyundai and Kia initially rejected the recall, saying that the defects did not affect safety.

North Korea: New long-range missile can carry heavy nuke

Kim's regime says it aims to field a nuclear-tipped intercontinental ballistic missile (ICBM) capable of reaching the US mainland. North Korea has also launched satellites into orbit on long-range rockets that share some of the same technology as missiles.

Excessive caffeine intake causes death of South Carolina teen

The coroner said, simply, "it was so much caffeine at the time of his death, that is caused his arrhythmia". Watts said Cripe was considered a healthy teenager and did not have an undiagnosed heart condition.

Jeter's Jersey Retirement Sets Season High for MLB Ticket Sales

YANKEES KEY TRENDS: The Yankees have lost three straight but are still 20-8 in their last 28 games overall. Realmuto, Justin Bour and Derek Dietrich hit home runs for the Marlins, who have lost four straight.

China Pledges $124 Billion For New Silk Road As Champion Of Globalization

No major Western leaders attended, though Britain, France and Germany were represented by top finance officials. Romana, the Philippines will play a crucial role in the rolling out of the Belt and Road Initiative.