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Honda execs take 'quality-related' pay cut after Fit Hybrid's 5th recall

Generally, the best policy in life is to admit when you're wrong and just accept the consequences. However, that attitude generally seems to be a bit less common in the world of business - at least without some government or legal prodding. So, it's especially surprising to learn that top Honda executives in Japan are taking a pay cut for the next three months following the fifth recall of the Fit Hybrid (pictured above) in the last 12 months.
According to Reuters, Chief Executive Takanobu Ito is taking a 20-percent pay cut to make amends for the quality issues. Also, 12 other high-ranking executives are taking 10 percent drops in their salaries. In addition to those temporary changes, Honda is creating a new position in charge of monitoring vehicle quality.
The latest recall fixes "noise-related defects," according to Reuters, on both the hybrid and naturally aspirated versions of the Fit, both variants of the Vezel (the sibling to the future HR-V in the US) and the N-WGN. There have also been three recalls for problems with the hybrid's seven-speed dual-clutch transmission. None of them have caused reported injuries or deaths, and these issues haven't affected US models.

One man's love of vintage Honda motorcycles spawns new museum

In 1977, David Silver got a Honda SS50 moped - it was the last year of unrestricted mopeds for riders just 16 years of age in the UK. That two-wheeler made him a fan, and starting his Honda parts business in 1986 made him a part of the Honda family. He started collecting, with the idea that he'd eventually open a museum. During a visit to another amateur collector's trove in Pennsylvania, the Brit got the chance to purchase the 125 bikes the American had gathered, and his museum aspirations hit the fast-forward button. He's in the process of building a proper home for the bikes in Suffolk, it should open later this year. There will be everything from the first Cub F engine that people could attach to bicycles in 1952, to two examples of the CB92 Benly Super Sport that showed how fast and how good a 125cc bike could be, to the first Fireblade that dropped in 1992 - our CBR 900RR, to the original Honda Dream. Honda says it could be one of the finest collections outside the company's museum in Japan. You can watch Silver tell his story in the video above, and there's more on what's he'll have in an article in Honda's Dream magazine. News Source: Honda Video, Dream magazine via YouTube Honda Motorcycle Classics Videos honda cub

Beleaguered Takata unlikely to seek automaker assistance

Takata is continuing to deal with the massive airbag recall for millions of vehicles, but even if it doubles production, it could take years the company to build enough replacement parts to properly repair all of the affected models. If the supplier takes a hard enough financial hit whether through fines, lawsuits or just the cost of making the components, then the business might not be able to keep up production. Such a situation could put automakers in the very difficult predicament of deciding whether to provide Takata with financial assistance. Honda for one has little interest in lending further support to the beleaguered supplier, according to The Wall Street Journal. The Japanese automaker recently dropped its annual sales targets to put a larger emphasis on vehicle quality, partially in response to the inflator recall. It also struck a deal with another company for replacement parts and was rumored to abandon Takata for some future business. Honda CEO Takanobu Ito did leave the door barely cracked for possible aid. "Takata itself needs to figure out how to fulfill its duties, but if it makes any request to automakers, then we would think about that," he said, according to The Wall Street Journal. There isn't much likelihood of Takata needing a bailout, though. According to The Wall Street Journal, analysts aren't concerned about the company's short-term fortunes, and the supplier had about $728 million in cash as of last September. News Source: The Wall Street Journal - sub. req.Image Credit: Toru Yamanaka / AFP / Getty Images Earnings/Financials Recalls Honda Safety Takata airbag recall