
When you think of high-end fashion it is usually the clothes that come to mind.
But would you believe the big money-maker for some designers has nothing to do with clothing? Our Alina Cho reports on how some designers make millions on scent, not style.
Toyota's growing list of problems really came to light after a California Highway Patrol officer and his family were killed when their car took off at speeds of more than 100 miles per hour.
Police say the problem was the floor mat. But as our Deb Feyerick reports, the victims' family is not totally convinced.
Full coverage: Toyota recall
[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2010/images/02/17/t1main.toyoda.02.gi.jpg caption="Toyota will hire new quality control officers and conduct tests to fix problems with its cars, but the automaker's president will not appear before Congress."]
TOKYO, Japan (CNN) - Toyota will employ new quality control officers, conduct testing and will consult an independent research agency to fix their vehicle problems, the automaker's president said Wednesday.
But Toyota President Akio Toyoda said he will not appear before U.S. lawmakers at hearings scheduled for later this month.
Toyoda addressed reporters for the third time in two weeks about the massive recall.
Toyota has recalled more than 8.1 million vehicles worldwide for problems related to sudden acceleration and unresponsive brake pedals, among other things. The company has apologized for the safety lapses and pledged to repair the recalled vehicles quickly.
On Wednesday, Toyoda said the company has found a fix for the Toyota Sai, sold in the U.S. as the Lexus HS 250h, and began notifying owners about recall procedures.
"Toyota is not perfect. But when we find a problem or are made aware of it, we act as quickly as possible. We are sincerely working on that," Toyoda said. FULL STORY
Full coverage: Toyota recall
There's more trouble for Toyota. A government agency says there has been a spike in consumer complaints.
The National Highway Traffic Safety Administration says it is now investigating a total of 34 Toyota complaints alleging fatalities since 2000. The car maker is doing damage control, saying it has fixed half a million vehicles recalled for sticky gas pedals.
Toyota's public relations disaster is forcing other Japanese companies to lower the veil of corporate secrecy. Our Kyung Lah has this AM original report.
Complete coverage: Toyota recall
We now know the cases and claims of uncontrolled acceleration in Toyota vehicles go back to at least 2004. But we have also uncovered allegations that Toyota has known about the problems all along. And in some cases, the feds may have looked the other way.
Was there too cozy of a relationship between the company and the federal agency who is supposed to enforce the safety standards? Our Deb Feyerick investigates in this CNN exclusive report.
Full coverage: Toyota recall
By Henry M. Paulson, Jr.
From 'On the Brink'
Chapter 1
Thursday, September 4, 2008
Do they know it’s coming, Hank?” President Bush asked me.
“Mr. President,” I said, “we’re going to move quickly and take them by surprise. The first sound they’ll hear is their heads hitting the floor.”
It was Thursday morning, September 4, 2008, and we were in the Oval Offi ce of the White House discussing the fate of Fannie Mae and Freddie Mac, the troubled housing finance giants. For the good of the country, I had proposed that we seize control of the companies, fire their bosses, and prepare to provide up to $100 billion of capital support for each. If we did not act immediately, Fannie and Freddie would, I feared, take down the financial system, and the global economy, with them.
I’m a straightforward person. I like to be direct with people. But I knew that we had to ambush Fannie and Freddie. We could give them no room to maneuver. We couldn’t very well go to Daniel Mudd at Fannie Mae or Richard Syron at Freddie Mac and say: “Here’s our idea for how to save you. Why don’t we just take you over and throw you out of your jobs, and do it in a way that protects the taxpayer to the disadvantage of your shareholders?” The news would leak, and they’d fight. They’d go to their many powerful friends on Capitol Hill or to the courts, and the resulting delays would cause panic in the markets. We’d trigger the very disaster we were trying to avoid.

