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The Spokesman-Review Newspaper
Spokane, Washington  Est. May 19, 1883

Toyota recalls cars over window bolt problem

From Wire Reports The Spokesman-Review

Toyota Motor Corp. is recalling 539,500 Corolla and Matrix passenger cars in the United States because the bolts in the power window system can become loose and ultimately cause a window to shatter.

Toyota said Wednesday it had received reports of 143 cases in which the bolts at the bottom of the power window assembly became loose, caused the window to rattle or led to the window breaking.

Toyota spokesman Joe Tetherow said there had been one minor accident and 15 injuries reported. He said he did not know how many complaints Toyota had received of windows shattering.

The recall involves 2003-2004 model year Corolla and Matrix vehicles equipped with power windows. Vehicles with manual windows are not part of the recall.

The automaker said if the window bolts become loose, motorists may hear an abnormal noise from the driver or front passenger door while operating the power windows.

Toyota will notify owners of the recall in late April. Dealers will replace the driver and front passenger door glass bolts at no charge to owners. For more information, owners can call Toyota at (800) 331-4331.

“US Airways says it has reached a tentative agreement with its 7,700 ramp and baggage workers.

The Tempe, Ariz.-based airline said Wednesday the agreement still needs to be ratified by members of the International Association of Machinists and Aerospace Workers union. A ratification vote has not yet been scheduled.

The deal sets new wages for the workers and would become amendable at the end of 2011.

“Citigroup Inc.‘s plans to unload more than a quarter of its debt tied to leveraged buyouts gave investors some relief, but worries remain about the financial industry as Citi and other banks prepare to release their first-quarter results.

Citigroup, which as of late December had $43 billion in leveraged loans on its books, is close to selling some $12 billion of those loans to a group of private-equity firms, a person familiar with the matter said Wednesday.

The bank is aiming to close the deal with the private equity firms – Apollo Management, TPG and Blackstone Group – before it reports first-quarter earnings results on April 18, the person said.

“It’s a good development. The truth is, all these assets trade, it’s just a matter of the price,” said R. Christopher Whalen, managing director of consulting firm Institutional Risk Analytics. “The concern with (Citigroup) is just freeing up bandwidth, giving them some flexibility. Raising cash is a good thing.”