With all the hype about Toyota’s recall, I think the media are overlooking a few key points.
1. The CEO of Toyota publically apologized for the safety issues and went to work on resolving them.
I haven’t heard the CEO of AIG (or any of the other financial institutions) apologize for driving us into the Great Recession. They’re still taking billions in bonuses for their stupidity.
2. Based on their culture, Toyota will make sure these mistakes never happen again. They will build it into their design process using something like failure modes and effects analysis (FMEA) to mistake proof these elements of their design. And, I’ll bet that this gave them dozens of other ideas about what to look for and anticipate in their designs.
I doubt that AIG or any of the other financial institutions has done anything to prevent the kind of far reaching crisis they’ve created.
Trust is hard to gain and easy to lose. At least Toyota is trying to regain our trust. I doubt that AIG even cares.