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Toyota's Texas move could boost state's economy by $7.2B in 10 years

They say everything is bigger in Texas, and apparently that includes the Toyota's effect on the economy. The giant Japanese automaker's new headquarters in Plano, TX, will add an estimated $7.2 billion to the state over the next 10 years, according to a new study commissioned by the city and cited by Bloomberg.
The benefits appear to be an absolute steal compared to the direct incentives that Plano and the state are giving Toyota. The report finds that by the time the automaker's campus is complete in 2018, it could have 3,650 full-time workers there at an average salary of $104,000. The city has prepared $6.75 million in grants, plus property tax discounts, according to Bloomberg. In addition to that, the state is offering the business $40 million in incentives from its Texas Enterprise Fund. This is still a fraction of what Toyota is estimated to bring in.
Toyota announced in April that it would move its US operations to Plano after being headquartered in California since 1957. The move affects thousands of employees from the sales and engineering divisions. The first workers will arrive there this fall, but Toyota will eventually have a whole campus in Plano by late 2017. The move is expected to save it huge amounts in taxation and offer employees a lower cost of living. Toyota North America CEO Jim Lentz also says that the Texas location puts the headquarters closer to more of the business' factories in the south. Texas certainly appears to be showing it some southern hospitality.

Toyota responds to video of Highlander ramming house [w/video]

There are, as they say, two sides to every story, so after we posted a video on Monday showing what an owner claimed to be a case of unintended acceleration causing her Toyota Highlander to crash into a house twice, Toyota reached out to us revealing some additional information about the incident.
Following this crash, which took place back in November, Toyota had this Highlander inspected and pulled data from its Event Data Recorder (EDR), or Black Box as we've come to call it. Not only was this the first time we've seen a claim of unintended acceleration like this caught on video, but now, also a first, we have actual data showing what the vehicle itself recorded during this frightening ordeal.
Brian Lyons, Toyota Communications Manager for Safety and Quality, first gave us some information about the Highlander in question, including the fact that it was a 2012 model. The 2012 Highlander came from the factory with a brake override system, meaning it was not part of the company's initiative in 2010 to add the system to all 2011 models. Also, after looking at the data from the EDR, he said - as many of you pointed out in the comments for the previous post - that the "brake pedal was never touched." In the video, you can see that the crossover's brake lights never come on, and the EDR's data backs this up.

Toyota nears $40B cash reserve as calls grow for new investment, payouts

With the April 15 tax deadline just a few months away, our US readers will be faced with a decision should they get a refund: save or spend? It seems this issue is one many of us face whenever there's a windfall, trying to decide whether we should set the money aside in an account of some sort or use it as a down payment on a new car or a trip to the Apple store. Unsurprisingly, major corporations face a similar, albeit more complex, issue.
Take Toyota, for example. With President Akio Toyoda at the helm, the Japanese manufacturer has gracefully weathered recalls and natural disasters, all while turning beaucoup profits. Last quarter, profits quintupled to 434.4-billion yen ($4.3-billion USD), according to Bloomberg. Toyota also upped its forecast for the end of fiscal year 2013 (which ends on March 31 for Japan), to a record 1.9-trillion yen (about $18.8 billion). Now, the Japanese brand is reportedly sitting on a cash pile of nearly $40 billion, leaving Toyoda-san in an envious predicament - what should the company do with all that money?
Some think Toyota should be doing something, anything with that big stack of cash.