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Long crippled by lawsuits and recall costs over its faulty air bags, Takata, the Japanese auto parts maker, filed for bankruptcy protection in Japan and the U.S. on Sunday.

Takata is on the hook for billions of dollars to banks and automakers, which have been covering the replacement costs of tens of millions of the recalled air bag inflators.

The company plans to sell what's rest of its operations to the rival U.S. auto parts supplier, Key Safety Systems, for $1.588 billion.

Paid Line-Holders Find Worth In The Wait

23 hours ago

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LULU GARCIA-NAVARRO, HOST:

Some things are worth the wait. But our next guest finds worth in the wait. Robert Samuel is the founder of Same Ole Line Dudes, and the service he offers is holding your place in line - for a fee, of course. He joins us from our studios in New York. Welcome.

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LULU GARCIA-NAVARRO, HOST:

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