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Takata to pay $1 billion fine, admit wrongdoing in proposed settlement

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Takata logo (photo by Flickr user jo.schz)This is turning out to be a big week for automotive scandals. On Wednesday, the 16-month-long Dieselgate saga came to an end--or at least the end of its current chapter--when Volkswagen agreed to shell out $4.3 billion in fines to the U.S. More shocking, Volkswagen agreed to formally admit wrongdoing, which could put a serious crimp in the...

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Only $1 billion?

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That's cheap, IMO. Also I doubt they can pay it. So if Takata declares bankruptcy then it becomes a paper victory only.

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