mr. toyoda? peaking japanese ] >> translator: we would like to extend full cooperation. >> so we'll take that as a yes? >> translator: yes. >> thank you. five minutes to the gentleman from texas. >> thank you, mr. chairman. i represent the san antonio area down through the valley where we have a toyota plant. currently right now there's 2,500 hardworking americans in the san antonio area plant where their jobs and family livelihood. i see jay here, which i visited, a couple of other folks here. so we're asking you to put toyota back on track so americans jobs are not put in jeopardy and of course the american drivers that are at risk is what we have to address. it is my hope you move swiftly to fix the safety problems, rebuild the reputation talking about and restore the toyota legacy which employs americans here at home. american drivers and american workers are watching and waiting. toyota has a glowing legacy in this country for decades for the sake of safety and for the sake of jobs, we need t

mr. toyoda. i hope everything turns around. you very much for being with us. >> translator: thank you. >> larry: akio toyoda, president and ceo, toyota motor company. >>> a killer wale turned on a trainer and killed it today at sea world in orlando. we've got all the latest next. so i was the guy who was never going to have the heart attack. i watched what i ate. i worked out. personally, i thought i was invincible. once it happened, i realized it's a different story. i'm on an aspirin regimen now because i never want to feel that helplessness again. [ male announcer ] aspirin is not appropriate for everyone. so be sure to talk to your doctor before you begin an aspirin regimen. i was the guy who was doing everything right. i was wrong. talk to your doctor, and take care of what you have to take care of. [ male announcer ] learn more about protecting your heart at iamproheart.com. >> larry: welcome back. a 40-year-old trainer, her name was dawn brancheau was drowned by a killer whale at sea world in orlando, florida, today. the

mr. toyoda. i hope everything turns around. k you very much for being with us. >> translator: thank you. >> larry: akio toyoda, president and ceo, toyota motor company. >>> a killer whale turned on a trainer and killed it today at seaworld in orlando. and the routan has everything we're looking for. plus, every volkswagen includes no-charge, scheduled, care-free maintenance. so, what's this punchdub days about? you know, where you punch someone in the arm every time you see a volkswagen. red one! [ baby crying ] test drive? [ male announcer ] with great deals on all 13 models, it's a whole new volkswagen. and a whole new game. ♪ with thermacare® heat wraps. that's 8 hours while you wear it, plus an additional 8 hours of relief after you take it off! when i put it on the heat really releases all the muscles and the tension that i have in my lower back. [ spokesperson ] thermacare® delivers heat that penetrates deep, to relax, soothe, and unlock tight muscles. you've got to try it, because once you try it you'll be hooked. [ spoke

mr. toyoda?[ speaking japanese ] >> translator: we would like to extend full cooperation. >> so we'll take that as a yes? >> translator: yes. >> thank you. five minutes to the gentleman from texas. >> thank you, mr. chairman. i represent the san antonio area down through the valley where we have a toyota plant. currently right now there's 2,500 hardworking americans in the san antonio area plant where their jobs and family livelihood. i see jay here, which i visited, a couple of other folks here. so we're asking you to put toyota back on track so americans jobs are not put in jeopardy and of course the american drivers that are at risk is what we have to address. it is my hope you move swiftly to fix the safety problems, rebuild the reputation talking about and restore the toyota legacy which employs americans here at home. american drivers and american workers are watching and waiting. toyota has a glowing legacy in this country for decades for the sake of safety and for the sake of jobs, we nee

mr. toyoda. you learned from this personally? and what lessons has the company taken from the events leading to today's hearings? and how will you change toyota in the future to protect people and to provide an excellent product? and i'm running to vote. if he could answer. >> you want him to answer? >> i want him to answer. >> you may answer, mr. toyoda. what you learned. [ speaking japanese ] >> translator: with respect to the recall, thus far, we have been too much focused on two perspectives. one is technical perspective and the other is compliance with laws and regulations. the most important lesson that i learned from this experience relation to the following -- with respect to customer first philosophy, we have been placing the highest priority on the safety thus far and we will continue doing so. but on top of that, from the perspective of customer first, we'll place greater emphasis upon customers view point and perspectives. so that's the first lesson that i would like to mention here.

mr. toyoda will get today are considered disrespectful. when toyoda goes before the congress he'll face a tough crowd. here's what happened to the last guy. >> you gave lame excuses then. >> it stinks to the high heaven what happened here. >> reporter: they don't call it the hot seat for nothing. lawmakers want answers and promises. >> what do you want to hear from akio toyoda? >> reporter: i want to hear one a commitment to change. >> reporter: the top republican on the committee says toyota needs to be held accountable. as a former helped of an electronics manufacturer he's familiar with japanese culture. >> congress is famous for rude questions so i expect there will be some rude questions. >> reporter: he worries some lawmakers might go too far. you sound a little worried how are you committee will behave? >> i don't want to be embarrassed on behalf of the american people by us not focusing to the important part, did government do its job, did industry do its job and if they didn't are they going to do it going forward? >> reporter: if

mr. toyoda, that you actually volunteered to come and to testify. i want you to know we're very impressed with that. that shows your commitment, of

mr. toyoda's tears today or yesterday were not sincere. but it helps soothe the public feelings. >> lehrer: put mr. toyoda, his family and his company into the japanese context. how important are they? >> well, toyota, first of all, is the big t biggest corporation in japan. and it's not just the biggest corporation but it's in a class of its own. toyota comprises... toyota's production in japan-- including all the related parts companies and so on-- comprises about 1.3 president clinton of g.d.p. and therefore since this recall scandal broke even the japanese government, the economic ministries were sort of unable to make the predictions of what the effect of this... to the japanese economy would be. so it's that important in an economic sense. but it's also legendary company founded by a legendary inventor of the automatic loom. and it went from there to be the world's largest auto company. so it's a very important company. >> lehrer: does it make a difference to the people in japan, do you believe, that he, mr. toyoda, apologized to the

mr. toyoda.crophone. >> thank you, chairman towns. i'm akio toyoda of toyota motor corporation. i'd first like to state i love cars as much as anyone. i love toyota as much as anyone. i'm here with my toyota family of dealers, team members and friends. i take the most pleasure in offering a vehicle that our customers love, and i know that the 200,000 team members and dealers across america feel the same way. however, in the past few months, our customers have started to feel uncertain about the safety of toyota's vehicle, and i take full responsibility for that. today, i would like to explain to the american people, as well as our customers in the u.s. and around the world how seriously toyota takes the quality. >> mr. toyoda, could you just pull the mike a little closer to you? thank you. >> today i would like to explain to the american people as well as our customers in the u.s. and around the world how seriously toyoda takes the quality and safety of its vehicle. i would like to express my app

mr. toyoda. mr.lator: chairman townes and representative issa, and ranking members of the committee. thank you for allowing me to testify. aim the president and coo of toyota motor north america and chairman and ceo of toyota sales usa. as you heard today from toyota president akio toyoda, and the subcommittee on oversight heard yesterday from jim lentz, the chief operating officer of toyota sales usa, toyota is taking decisive steps to restore the trust of the tens of millions of americans who purchase and drive our vehicles. our team is working as quickly and conveniently as possible to address the recalls. with the solutions and we are confident with the repairs toyota vehicles will remain among the safest on the road today. we also going further, by installing advanced brake override systems in all of our new north american vehicles before the end of 2010, and in an expanded range of existing models as a customer confidence measure, and taking comprehensive steps to ensure strict quality control

mr. toyoda. you may begin. >> thank you, chairman. i'm akio toyoda.ld first like to state that i love cars as much as anyone. and i love toyota as much as anyone. and here with my family of dealers, team members and friends. i take the most pleasure in offering vehicles that our customers love and i know that 200,000 key members, dealers and suppliers in america feel the same way. however, in the past few months, our customers have started to feel uncertain about the safety of certain vehicles, and i take full responsibility for that. today i would like to explain to the american people as well as our customer in the u.s. and around the world, how seriously toyota takes the quality -- >> pull the mic closer to you. thank you. >> today i would like to explain to the american people as well as our customers in the u.s. and around the world how seriously toyota takes the quality and safety of its vehicles. i would like to express my appreciation to the chairman and ranking member issa as well as the members of the house oversight and government reform co

mr. toyoda claims the company's rapid growth led to lapses in safety quality control. the questioning began in a polite tone. >> welcome to the united states. >> reporter: then a more hostile approach aimed at toyoda and the north american executive. >> this discredits everyone. how woulyou respond, sir? >> reporter: the committee seized on an internal memo made public this week which toyota bragged it saved $100 million on a recall three years ago by getting u.s. regulators to accept a limited fix. >> i must say to you it is so inconsistent with the guiding principle of toyota and my feelings. and therefore -- >> to me it's unbelievable. >> yes. i feel the same. >> reporter: the committee scolded toyota for not acting quickly to protect drivers. they admitted they knew about the problems happening in europe but did not alert its u.s. division for one year. >> we did not hide it, but it was not properly shared. >> reporter: today's hearing put on display differences in language and culture which some say led to confusion and poor oversight. earlier ray lahood was asked

mr. toyoda, and i said you need to take this seriously. i think once that happened , they finally got it. i think mr. toyoda, being in america today, being in washington today apologizing, is a very good first step. but they have a long way to go to gain credibility gaenl with car buyers. >> ifill: what's the next step? for instance, there was some conversation today about black boxes, or the equivalent of black boxes, in cars which toyota-- toyotas which are on the road in the united states, and the degree to which people like n.h.t.s.a. can't get access to the information? >> i think first of all we have to make sure everybody who has a car on that list takes it to the dealer and gets it fixed under the recall. i think, secondly, we need to look at the electronics. i think toyota really needs to persuade the public now, the people that have bought their cars in the past, their number one priority is safety. that's our number one priority, but people have to be convinced it's toyota's. and i think they took a very good first step today, b

mr. toyoda, i was impressed with your opening marks -- your opening remarks and your being here. i am curious what you are going to do. i am trying in my own questions to get some sense of whether we need to have confidence and where there is still some questions. in your testimony, you say, and i am quoting -- this is page one of your testimony. toyota's priority has traditionally been the following. first, safety, second quality, and third volume. i am going to ask you about what seems to be a fourth priority that is for me the most .roubling aspect that is for me the most troubling aspect of this controversy. and that first fourth quality is secrecy. to get to the heart of my concern about secrecy and the culture of secrecy, i would go to the data recorder, otherwise known as black box. people in the united states are very familiar with airline black boxes because they know that a in that black box is critical information. and if you get to it fast you can find the cause. you can put -- you cannot only respond to those who have been hurt, you can put to rest some of the concer

mr. akio toyoda, president and ceo of toyota motor corporation. and mr.and ceo of toyota motors north america. gentlemen, it is the committee's longstanding policy that all witnesses are sworn in. please stand and raise your right hand as i administer the oath. do you solemnly swear to tell the truth, the whole truth and nothing but the truth? if so, answer in the affirmative. let the record reflect the witnesses and r answ witnesses answered in the affirmative. you may be seated. let me begin by first welcoming you, and i really appreciate the fact that you have come to testify and that, mr. toyoda, that you actually volunteered to come and to testify. i want you to know we're very impressed with that. that shows your commitment, of course, to safety as well, and we want to appreciate the fact that you volunteered to come. mr. naba, we welcome you here as well, and we've had conversations with you over the past few weeks and months. so at this time, we would ask you to -- actually, we will give you additional time. we generally give five minutes, but bei

mr. toyoda told by american officials of the safety complaints? >> i do not know the specific content of the discussion or the timing. >> well, there seems to be some discrepancy. we are trying to get at what did we know and when did we know it? >> the suspicions are not likely to dissipate as a result of the hearing. in california, this family is suing toyota to get to the truth. he was killed in a toyota at inexplicably driving 100 m.p.h. three residential neighborhood. >> hopefully, we will get the message out to people this is happening, and could easily happen to us and somebody else. >> toyota's sales in america have fallen. troubled american car companies have benefited. is toyota getting trashed to help u.scarmaker's? >> certainly, there has been some access piling on. congress does two things well, nothing at all and overreact. let's hope we do not do either this time. >> they seem concerned over the reliability of toyota cars and the reliability of toyota's call. -- toyota's corporate culture, its ability to respond in an open and timely

mr. akio toyoda testified for three hours. but i was watch some parts of it.but even seeing that, i think for most people, i don't think we have any more clarity as to what is precisely wrong. but i think for a lot of consumers worldwide, you're wondering if you have a toyota parked in your garage, you know, am i willing to take my children, am i willing to take my parents or other loved ones in there. you're going to find like a bit of a skeptic especially given the pr, the campaign that they have so not gotten right so far. >> i think there are two issues to it. one is the pr part of it and the other one is the product part of it. i think pr part of it, we have to look at it from a cultural side. they come from a completely different culture, although it's a company which is in u.s., toyota itself, it comes from a japanese culture. he's like a prince in japan. i think if he comes out and says i'm sorry, according to him, it's enough. >> but would appointing america national as part of the senior management team, is that going to work? they tried that a few y

mr. lahood and certainly bring you akio toyoda when he starts his testimony. >>> and despite all the uproarilouts and bonuses, 2009, turned out to be a banner year for wall street employees. according to the new york state controller bonuses on wall street rose 17% last year with the average bonus about $124,000. but was an even bigger payday at goalman sachs, jpmorgan and three that got the biggest bailouts. bonuses rose to an average of $340,000. still, wall street did not break the record for bonuses set in 2007 before the recession hit. joining us to talk about it is a man who is leading off the charts, some say, journalist matt taibbi who writes about wall street's bailouts and bonuses. so people are at home saying, okay, they're talking about bonuses. we've had the outrage. we've had the obama administration saying they would get involved and yet again a lot of money going to banks that got the bailouts. >> right. no, this is basically what happened was these same people blew up the economy in 2008 and caused major financial catastrophe, and not only were none of them punished or fire

mr. toyoda on cnbc.com. >>> jim paulsen is our guest host. of the big factors for the markets has been jobs, what's happening with that picture. today we get jobless claims coming out. this is a number we've been watching very closely over the last several months. >> yes, we're kind of stuck around this level here. we're going to have weather impacts now and whatnot. but if we -- depending on which side we break out of these claim number, ultimately in the next few weeks, if we have to go back up towards 500,000 or break towards 400,000, i think is going to set the tone for where the stock market's going to go in the next few months. >> it's all about jobs. it's not about these other factors trying to draw our attention, whether it's bernanke speaking, what's happening in greece -- >> i don't think so. ultimately i think it's about job and the undertow of the economy. we have all of these side issues but what's really gotten the market up 70% is really been the under tow of recovery of the u.s. economy, despite all these other issues that cou

mr. toyoda will be setting the standard of we apologize and we'll do better in the future. >> phil lebeau, thank you. >>> we are 24 hours away from pt president obama's bipartisan health care summit. as democrats and republicans get ready for the meeting, it seems the only thing they can agree on for sure is that, well, there will probably be no real break through. minority chairman eric cantor was on the daily rundown just moments ago. >> speaker pelosi doesn't have the votes in the house. it's indicative of the fact that the american people don't like this health care bill. >> and the democrats could try and go it alone or a 51 vote majority. that's something republicans vehemently oppose. >> they should stop crying about reconciliation as if it's never been done before. it's done almost every congress. and they're the ones that used it more than anyone else. >> sir, we're pleased you're joining us this morning. do you agree with your republican counterpart, that speaker pelosi doesn't have the votes? because i've heard you say, in fact, you think there might be more votes. >> thank you

mr. toyoda is testifying in another committee tomorrow. what bombshells are going to come out that we don't yet know. >> god i hope there aren't any more. let's get back to the good old days of 2009, and i didn't think i'd ever say that. you know, right now, we have to fix the process so these things don't happen again. i don't know what's behind the curtain. no one knows in the auto industry as manufacturers what defects you could have down the road. what challenges you have. so it's important that we have built-in quality and build-in safety so we don't have these issues. and that's why our processes are changing to make sure that we get back to where we once were. this was a company for 50 years in the u.s. that, whenever you said toyota or you said camera it was quality, dependability. and we've stubbed our toe. and we've got to get back to where that once was and we're going to do that. >> i would hope so. thank you mr. chairman for holding the hearing. >> mr. ging ry, question? >> very, very quickly. i could ask you a couple of yes/n

mr. toyoda's name on it. o claim it. >> my name is on every car. >> a akio toyoda, spelled differently but sounds the same. >> reporter: what a difference a "d" makes. mostly strokes. the family changed the name from toyota with a "t" to toyoda with a "d." it has more brush strokes in japanese. >> eight, nine, ten. >> reporter: ten instead of eight, and eight is a lucky number. despite the apologies. >> i'm deeply sorry. >> from the deepest part might have heart. >> i sincerely regret. >> reporter: there were no bows of contrition as he bowed at a press conference in japan. and the going got rough for a congressional hearing, especially in toyota of north america over a company memo. >> i'm embarrassed for you, sir. this is one of the most embarrassing documents we've ever seen. >> seems like we're having a hanging before the trial. i'm not saying you're not guilty. >> reporter: even the poor translator getting shoved to the mike. of course this is nothing compared to the jabs by the comedians. ♪ toyota >> rep

mr. toyoda -- you wrote a profile for today's new york times about mr. toyota.een prepared for this role? >> people might have seen him who went to school with him in college or works with him in california. he lived in new york for a few years after his image be am.b.a. the grandson is the equivalent of henry ford and the second. when you go to japan, their home base, there is no office building where the papers were signed. you can visit his great- grandfather's house which is stunning on the grounds of toyota city where they build their cars. he is walking history. i do not think toyota has used him in the best possible way. they have kept him isolated. i interviewed him a couple of years ago. he has not done in a sit-down interviews since he talked to me. i encourage executives to get out and get familiar with the press and the public. that is how you will sell your products. he speaks english very well. i interviewed him for an hour in english which is unusual for an american reporter. i expect that he will give his opening statement in english. his transla

mr. toyoda plans to have more quality control so it never happens again. >> is he done appearing on capitol hill? >> that's not clear. i think there have been reports with the sister network there may be signs there's going to be a senate hearing. we'll watch that closely. >> thank you. appreciate it. >>> the brother of nancy kerrigan is out of jail. his family posted the $10,000 bail yesterday. he's been charged with asulting his father that resulted in his death. he will be a caregiver for his legally blind mother. >>> we have really how can i say interesting stories coming up today. you have to stick around for them. for example, some teachers who really tried to raise the spirit at a pep rally, but they are in trouble for it. that's all i can say for now. okay. first, let's get to the storm that's about to come, again. wait, didn't we just have one yesterday? yep. here is the follow up. >> the upper cut. >> the upper cut. >> this is the big one we were worried about since monday. here is what it looks like now. all snow in jersey and eastern pennsylvania. you get to right about atlantic

mr. toyoda himself comes up to capitol hill. set the stage for us. what can we expect?e've already seen his testimony for tomorrow, his prepared remarks, and he's expected to say that toyota pursued growth at the expense of safety. just some color we're going to be seeing tomorrow. akio toyoda is fluent in english, wolf, but he's going to be having a translator, and that is going to give him more time to answer questions because he will hear the question once in english and then he'll hear it once in japanese, and it will be interesting. i've talked to some lawmakers that says if he relies on that too much as a crutch, they could become a little frustrated with him. it's going to be a very interesting situation tomorrow, and it's a huge spectacle. i can't tell you how much media and how much japanese media is paying attention to this. >> i'm surprised he's using translation. he lived here, he studied here. his english is good, but perhaps he has another issue that he wants to do it through translation, maybe for japan. >> i think the issue as well is that he wants to be