The media should apologize to Toyota

Ed Wallace writes in the latest issue of Bloomberg Businessweek that the media made a mistake with its coverage of Toyota last year but now is not going back to correct its error.

Wallace writes, “The Toyota case is no different from the Ford Firestone media frenzy of 11 years ago. Not once did any of the national journalists covering this story bring even a semblance of balance to the case.

“Last February I wrote that the concern about uncontrollable acceleration in Toyota cars was just so much humbug. As the findings on the government investigation into these allegations proved, I was proven correct. What I would prefer, however, is that the media would take the time to report a story accurately rather than just stir up a public frenzy in pursuit of ratings.

“It was 11 months ago when CBS Evening News anchor Katie Couric opened her broadcast with the story of Jim Sikes. Just that afternoon the California real estate agent claimed to have lost control of his Toyota Prius, shooting up to 94 miles an hour during a harrowing ride while telling the 911 operator he was standing on the brake pedal.

“Over all the more important things in the world available to cover that night, an alleged runaway Prius made the top of Couric’s list. One would assume she and her producers chose that story because they saw it as only the latest example of what seemed to be a growing threat to millions of American drivers. (Toyota, then as now, is the world’s No. 1 automaker.)

“In reality, thanks to Katie Couric, it was proof positive that the whole Toyota unintended acceleration story had become a media farce. Within days Mr. Sike’s contentions were discovered to be fraudulent. In fact, Jalopnik later reported that Sikes was facing serious financial difficulties and speculation was that he had told his story in order to obtain a large settlement.”

Read more here.