Toyota used to be the star of the auto world. Now its reputation is in tatters after quality problems led to a series of fatal accidents and massive vehicle recalls. But the problems at the company started a long time ago, when the Japanese carmaker decided to emulate its American rivals.
There are winners who look a lot like losers. One of them is Akio Toyoda.
Until recently, the 53-year-old grandson of Kiichiro Toyoda, the founder of Japanese carmaker Toyota, had every reason to be proud. Since last summer, he has been CEO of the biggest car company in the world.
But the man who testified before a committee of the United States Congress in Washington last Wednesday came across as something of a tragic figure. His face illuminated by the photographers' flashlights, he read a statement in broken English that sounded like a declaration of surrender. FULL STORY
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