The Rupturing Pinto Gas Tank:
Ford determined that to remedy the rupturing fuel tank problem, the cost would be just **$11** per vehicle.
The National Highway Traffic Association set the value of a human life at $200K.
Ford decided that the greatest dollar benefit would be to NOT add the $11 per vehicle into the manufacturing cost.
It would be cheaper to settle claims, based on the estimate of the number of claims that would actually get filed, than to fix the problem. In the case of the Pinto, Ford estimated that perhaps 100 or so claims would be made.
Therefore the "cost-benefit" was decided, to pay the claims than to fix the problem.
:mad:
Knowing the Pinto story, there is no way in hell I would ever purchase a Toyota.
Oh, and did you happen to see the Toyota "Black Box" story today?
"Until this year, Toyota had only one black box reader in the U.S., and did not allow outsiders to use it. The company has since deployed 150 such readers, including devices given to NHTSA and Transport Canada. Toyota plans to release a commercially available version of the reader in the near future. Other automakers, including General Motors Co. and Chrysler, already make such readers available to the public."
http://www.latimes.com/business/la-fi-0915-toyota-blackbox-20100915,0,93137.story