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DoJ fines Japanese parts firms $740M in massive automotive price-fixing scandal

Nine Japanese suppliers have pleaded guilty in US court over charges of price fixing in the automotive parts industry, resulting in the Department of Justice doling out a total of $740 million of fines, according to a report from Bloomberg. The scandal, which has resulted in General Motors, Ford, Toyota and Chrysler spending up to $5 billion on inflated parts and driving up prices on 25 million vehicles has sent the DoJ hustling into investigations. "The conduct this investigation uncovered involved more than a dozen separate conspiracies aimed at the U.S. economy," Attorney General Eric Holder (pictured above) said during yesterday's press conference.
As the investigation stands, the DoJ has issued $1.6 billion in fines against 20 companies and 21 individual executives, with 17 of the execs headed to prison. Deputy Assistant Attorney General Scott Hammond said, "The breadth of the conspiracies brought to light today are as egregious as they are pervasive. They involve more than a dozen separate conspiracies operating independently but all sharing in common that they targeted US automotive manufacturers."
Big-name suppliers indicted in the investigation include Mitsubishi Electric, Mitsubishi Heavy Industries, Hitachi Automotive and Mitsuba Corporation. A list of fines and other corporations named in the investigation is available at Bloomberg.

Ford Everest Concept shows China also has an affinity for big trucks

The Ford Everest Concept SUV at the 2014 Beijing Motor Show shows the future of the Blue Oval's truck line in China. While a concept for now, we're told that JMC, Ford's Chinese joint-venture partner, will build a production version sometime in the near future.
With design from Ford's Asia Pacific design team, the handsome seven-passenger SUV shows off some very muscular styling with wraparound headlights that hook into the contours of the angular trapezoidal grille. The beltline rises up the body in the rear and makes the back appear higher than the front. The rear is made from hard, chiseled contours that give the truck a very tough look. The Everest looks ready for some rough roads.
Ford is keeping the interior and mechanical details about the Everest a secret for now, but the SUV is rumored to share some components with the overseas Ranger pickup. The company has no plans to sell the truck in North America. Scroll down to read the official announcement, including the few details on its production.

Man has surgery to remove T-Bird turn signal that's been in his arm for 51 years

In 1963, real estate agent Arthur Lampitt was driving a new Ford Thunderbird near East Peoria, Illinois on his way to an appointment when he collided head-on with a truck. A massive accident that was so bad that it was originally reported as a fatal crash, Lampitt suffered a broken hip and that became the focus of doctors' efforts. In fact, no one noticed the fact that the turn-signal stalk had been broken off the steering column and had lodged itself in Lampitt's arm. Fast-forward to around ten years ago, when Lampitt set off a courthouse metal detector because of a "slender object, about the size of a pencil" in his arm. Despite that unnerving discovery, the doctor who examined Lampitt said that since it didn't hurt, he needn't worry about it. This year, however, it did start hurting and the affected arm started to bulge. Lampitt decided to have the issue seen to, and suspected it might have something to do with his 1963 accident. When he looked through photos of the wreck taken by a friend, he noticed the turn-signal stalk of the Thunderbird missing and figured that was the culprit. After a 45-minute outpatient surgery, the surgeon verified it: a slim, slightly bent and corroded, seven-inch metal cylinder with a trumpeted end. The surgeon said a protective pocket had formed around it, which is why it could remain in Lampitt's arm so long, but it was still unusual - "We see all kinds of foreign objects like nails or pellets, but usually not this large." Lampitt, who is expected to make a full recovery, says he might make a keychain out of it, once he's done just holding it. News Source: St. Louis Post-DispatchImage Credit: Jesse Bogan, St. Louis Post-DispatchTip: Jon Auto News Ford Coupe accident wreck ford thunderbird turn signal