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Toyota's Punishment Must Be Sending Chills Through GM's Mary Barra

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March 19, 2014 AT 10:08 AM
The timing is incredible: one week after opening a criminal investigation into why General Motors the U.S. Justice Department showed it is deadly serious about holding companies accountable, leveling a criminal fraud charge against GM’s biggest rival, Toyota, for the very same offense. “Other car companies should not repeat Toyota’s mistake,” said U.S. Attorney General Eric H. Holder Jr., announcing a record $1.2 billion penalty and three years of independent oversight of Toyota’s safety procedures. “Toyota’s conduct was shameful,” Holder said, adding that the carmaker “intentionally concealed information and misled the public.”