Toyota Recall Crisis Said to Lie in Cost Cuts, Growth Ambitions - Bloomberg.com

Toyota Recall Crisis Said to Lie in Cost Cuts, Growth Ambitions - Bloomberg.com

Toyota Recall Crisis Said to Lie in Cost Cuts, Growth Ambitions - Bloomberg.com Updated:New York, Feb 27 13:39 London, Feb 27 18:39 Tokyo, Feb 28 03:39 FEEDBACK HOME NEWS EXCLUSIVE WORLDWIDE REGIONS MARKETS INDUSTRIES ECONOMY POLITICS LAW ENVIRONMENT SCIENCE OPINION SPEND SPORTS ARTS AND CULTURE EDITORS' VIDEO PICKS BLOOMBERG MARKETS MAGAZINE SPECIAL REPORT MARKET DATA STOCKS RATES BONDS CURRENCIES MUTUAL FUNDS ETFs COMMODITIES ECONOMIC CALENDAR PERSONAL FINANCE JOHN DORFMAN PORTFOLIO TRACKER CALCULATORS FINANCIAL GLOSSARY TV and RADIO BLOOMBERG TELEVISION BLOOMBERG TELEVISION SYNDICATED REPORTS BLOOMBERG RADIO BLOOMBERG PODCASTS BLOOMBERG SHOWS CEO SPOTLIGHT CFO INSIGHT PORTFOLIO MATTERS MOBILE BUSINESSWEEK BUSINESS EXCHANGE Bloomberg InnovatorsTechnologyCurrenciesForex Trading VideosETFsLeadersCommodities Exclusive Worldwide Regions Markets Industries Economy Politics Law Environment Science Opinion Spend Sports Arts and Culture Editors' Video Picks Bloomberg Markets Magazine Special Report RESOURCES Bloomberg TV Bloomberg Radio Bloomberg Podcasts Bloomberg Press Find Bloomberg TV More News SACs Cohen Trades Secrecy for Golf With Investors Enticed by 30% Returns Congos Hydro-Electric Failure Threatens Biggest Power Project in Africa Billionaire Malvinder Singh Eschews Goldman Model for His India Brokerage Toyota Recall Crisis Said to Lie in Cost Cuts, Growth Ambitions Share Business ExchangeTwitterFacebook| Email | Print | A A A By Alan Ohnsman, Jeff Green and Kae Inoue Feb. 27 (Bloomberg) -- Katsuaki Watanabe, Toyota Motor Corp.’s former president, did something at his first meeting with U.S. investors out of character for a leader of Japan’s biggest automaker: He boasted of what he’d accomplished. On the job as Toyota’s chief executive for less than three months, Watanabe told New York’s financial community at the Sept. 12, 2005, gathering that a cost-reduction program he designed had wrung out more than $10 billion of savings over six years. Called “Construction of Cost Competitiveness in the 21st Cent...

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