Toyota settlement will top $1 billion

15 hrs.

From wire services , NBC News

Toyota Motor Corp. has agreed to pay as much as $1.4 billion to settle U.S. litigation claims that its vehicles suddenly and unintentionally accelerated, according to court filings made public Wednesday.

The company said the deal will resolve hundreds of lawsuits from Toyota owners who said the value of their cars and trucks plummeted after a series of recalls stemming from claims that Toyota vehicles accelerated unintentionally.

Steve Berman, a lawyer representing Toyota owners, said the settlement is the largest in U.S. history involving automobile defects.

"We kept fighting and fighting and we secured what we think was a good settlement given the risks of this litigation," Berman told The Associated Press.

The proposed deal was filed Wednesday and must receive the approval of U.S. District Judge James Selna, who was expected to review the settlement Friday.

Toyota said it will take a one-time, $1.1 billion pre-tax charge against earnings to cover the estimated costs of the settlement. Berman said the total value of the deal is between $1.2 billion and $1.4 billion.

Hundreds of lawsuits have been filed against Toyota since 2009, when the Japanese automaker started receiving numerous complaints that its cars accelerated on their own, causing crashes, injuries and even deaths.

The cases were consolidated in U.S. District Court in Santa Ana and divided into two categories: economic loss and wrongful death. Claims by people who seek compensation for injury and death due to sudden acceleration are not part of the settlement; the first trial involving those suits is scheduled for February.

The deal includes direct payments to customers as well as the installation of a brake override system in about 3.25 million vehicles, plaintiff attorneys said.?The terms also?include a $250 million fund for former Toyota owners who sold vehicles at reduced prices because of bad publicity, and a separate $250 million fund for owners not eligible for the brake override system.

The settlement would also establish additional driver education programs and fund new research into advanced safety technologies.

"In keeping with our core principles, we have structured this agreement in ways that work to put our customers first and demonstrate that they can count on Toyota to stand behind our vehicles," said Christopher? Reynolds, Toyota vice president and general counsel.

Current and former Toyota owners are expected to receive more information about the settlement in the coming months. Some information is also available at http://www.ToyotaELsettlement.com, a website created for Toyota owners affected by the settlement.

"We are extraordinarily proud of how we were able to represent the interests of Toyota owners, and believe this settlement is both comprehensive in its scope and fair in compensation," Berman said.

Toyota has recalled more than 14 million vehicles worldwide due to acceleration problems in several models and brake defects with the Prius hybrid. Toyota has blamed driver error, faulty floor mats and sticky accelerator pedals for the unintended acceleration.

Plaintiffs' attorneys have spent the past two years deposing Toyota employees, poring over thousands of documents and reviewing software code, but the company maintains those lawyers have been unable to prove that a design defect ? namely Toyota's electronic throttle control system ? was responsible for vehicles surging unexpectedly.

Both the National Highway Traffic Safety Administration and NASA were unable to find any defects in Toyota's source code that could cause problems.

The company has been dogged by fines for not reporting problems in a timely manner.

Earlier this month, NHTSA doled out a record $17.4 million fine to Toyota for failing to quickly report floor mat problems with some of its Lexus models. Toyota paid a total of $48.8 million in fines for three violations in 2010.

Toyota President Akio Toyoda appeared before Congress last year and pledged to strengthen quality control. Recent sales figures show the company appears to have rebounded following its safety issues.

Information from the Associated Press and Reuters was included in this report.

Source: http://www.nbcnews.com/business/toyota-settlement-over-acceleration-problems-top-1-billion-1C7659318

Obama Acceptance Speech Prop 30 Election 2012 Michigan Election Results Missouri Election Results Amendment 64 marijuana

Newtown trying to give kids a sense of normalcy

NEWTOWN, Conn. (AP) ? The children at the Sandy Hook Elementary school won't be returning to classes for another week, but officials from the town, school district and local agencies are doing their best in the meantime to keep them occupied following a massacre at their school two weeks ago.

The students have not attended school since a gunman killed 20 of their schoolmates and six adults on Dec. 14. They are slated to return to a different school next Thursday.

In the meantime, they've been treated to field trips, toy giveaways and some organized play time.

"A couple of the teachers have done pizza parties," said Janet Robinson, Newtown's school superintendent. "Another met her kids at the library so they could have a little reading time together. The most important thing has been connecting the students back to their teacher and their classmates."

The Newtown Youth Academy, a nonprofit sports center, opened its doors to all kids in town at no cost shortly after the shooting. But from 9 a.m. to 2 p.m. last week, the building's turf field, basketball and tennis courts, and giant inflatable obstacle course were reserved just for Sandy Hook Elementary students.

There have been arts and crafts for the smaller kids, as well as face-paintings. Some celebrities, including two members of the Harlem Globetrotters and former University of Connecticut basketball star Tina Charles, also have stopped by to play with the children. UConn's men's basketball team was making a trip Thursday.

"The idea was to get them away from the house, the television and all the coverage of this tragedy and get them to a place where kids can just be kids," said owner Peter D'Amico, a longtime youth coach in town.

On Thursday afternoon, school buses were loading up at the Youth Academy for a trip to Stamford and a larger complex, Chelsea Piers, which also has ice rinks and an indoor swimming pool, he said. Sports celebrities, such as Brooklyn Nets forward Kris Humphries, planned to meet them there. No media were allowed.

University of Connecticut psychologist Julian Ford, who spent time counseling in Newtown in the first days after the shooting, said it's important for the grieving process to include an outlet that lets children know that while things will never be the same, it's OK to enjoy life.

"They are all going to be thinking about what happened," he said. "That, unfortunately, is inescapable. But this gives them a chance to say, 'Life is carrying on.' Nothing will be the same, but it's also continuing in ways that it should be."

Some students and their parents on Thursday toured the Chalk Hill school in Monroe, a former middle school being reopened next week for the Sandy Hook students. An open house is planned for Wednesday.

"Getting back into the school is like getting back on the horse," Robinson said. "Some of the scariness is gone once they cross that threshold. They are just so happy to see their teachers."

State police said they plan to keep their contact with the children to a minimum as they continue investigating the shooting.

"We certainly don't want to traumatize them any more than they've already been traumatized," said Lt. J. Paul Vance, the department's spokesman. "If (an interview is) not necessary it won't be done. Our investigators will make all those determinations."

In the meantime, Ford has encouraged parents to keep the kids involved in a normal holiday routine and deal with the tragedy as it comes up, rather than making it a focal point of their lives.

David Connors, who has 8-year-old triplets who attend Sandy Hook, said he and his wife have made play dates with their friends, brought the kids to see family for the holidays and participated in the class get-togethers and recreation events.

"That's been, I think, helpful at least in the short term just to kind of keep them doing things, keep them seeing their friends and being nearby and talking to family," Connors said.

Todd Wood of Newtown has five children, the youngest age 4 and the oldest in college. His children's piano teacher lost a child in the shooting, and the family knows other victims as well.

He said he's found that each child has reacted differently to the tragedy. He said he is not making the shooting the center of his family's life but is not pretending it didn't happen, either.

"We did Christmas, we had our lights here, we've tried to make things as normal as possible," he said. "But we also went down to see the memorials. I don't want to shield them from it. I want to let them grieve in their own way."

Ford said that is healthy. He said children will remember their friends as they go about doing normal kid things.

Chris Wolcott, the sport's academy's operations manager, said the best part of having the kids at the center is that the tragedy is pushed aside, at least for a little while.

"A couple times someone would drop a weight (in the facility's health center) and you would hear a bang and there would be a kid who would freeze for a second," he said. "But that would last a split-second. Most of the time, everyone just had a great time."

___

Associated Press writer John Christoffersen in New Haven, Conn., contributed to this report.

Source: http://news.yahoo.com/newtown-trying-kids-sense-normalcy-193206806.html

armenian genocide asteroid mining memorial day ivan rodriguez planetary resources mothers day gift ideas natalee holloway