RLflutie7 Posted December 22, 2008 Share Posted December 22, 2008 Toyota to lose 1.7 billion Nagota Japan - Toyota Motor Corp. projected its first ever operating loss since it began such reports, saying Monday that its nine-year stretch of global vehicle sales growth has stalled. Crashing auto demand, especially in its key US markets and profit erosion from a surging yen proved to be too much for Japan's top automaker, which had been booming on the success of its fuel efficient models, including the camry sedan and prius gas-electric hybrid. Gloom dominated the annual news conference. Toyota president Katsuaki Watanabe even refused to give a worldwide vehicle sales goal for 2009. "Tough times are hitting us far faster, wider and deeper than expected," he told reporters. This is an unprecedented crisis requiring urgent action." Thoughts? I think everyone knows what mine are. Link to comment Share on other sites More sharing options...
Nanker Posted December 22, 2008 Share Posted December 22, 2008 Does this mean Toyota's going to ask the Fed for bail out money too? Link to comment Share on other sites More sharing options...
RLflutie7 Posted December 22, 2008 Author Share Posted December 22, 2008 Does this mean Toyota's going to ask the Fed for bail out money too? It sounds that way to me. If you read the Toyota president's statements. I hate to say this, but I think they should get it also. And I think the US gov't should pay for it along with the Japan gov't. Not that I really want that to happen, but Canada gave GM money also. It's about jobs and a higher wage level. Toyota will probably ask for wages cuts. They said they're going to slash production. Link to comment Share on other sites More sharing options...
Dante Posted December 23, 2008 Share Posted December 23, 2008 It sounds that way to me. If you read the Toyota president's statements. I hate to say this, but I think they should get it also. And I think the US gov't should pay for it along with the Japan gov't. Not that I really want that to happen, but Canada gave GM money also. It's about jobs and a higher wage level. Toyota will probably ask for wages cuts. They said they're going to slash production. I'm sure Toyota will make the right decision. Any company that can go that long without a loss is doing something right and does not need the governments help. Wish are good ole American icon companies could compete without having their hand held by mommy. Link to comment Share on other sites More sharing options...
RLflutie7 Posted December 23, 2008 Author Share Posted December 23, 2008 I'm sure Toyota will make the right decision. Any company that can go that long without a loss is doing something right and does not need the governments help. Wish are good ole American icon companies could compete without having their hand held by mommy. I hope you're right. That would be BS if they asked for it. But we'd probably look bad if we said no. Link to comment Share on other sites More sharing options...
Kingfish Posted December 24, 2008 Share Posted December 24, 2008 I'm sure Toyota will make the right decision. Any company that can go that long without a loss is doing something right and does not need the governments help. Toyota doesn't need help from the government? Who pays for the health care of Toyota's Japanese employees? The Japanese government. Who's been artificially devaluing their currency to protect their automobile imports? The Japanese government. Who's been rebating value added taxes on their exports to American while imposing the same taxes on imports from America? The Japanese government. Who uses a variety of non-tariff barriers to protect their auto industry? The Japanese government. The way some people talk you'd think that Japanese car makers are existing in some sort of Milton Friedman wet dream where only the free market's invisible hand has pushed them past their American competitors. Link to comment Share on other sites More sharing options...
RLflutie7 Posted December 24, 2008 Author Share Posted December 24, 2008 Toyota doesn't need help from the government? Who pays for the health care of Toyota's Japanese employees? The Japanese government. Who's been artificially devaluing their currency to protect their automobile imports? The Japanese government. Who's been rebating value added taxes on their exports to American while imposing the same taxes on imports from America? The Japanese government. Who uses a variety of non-tariff barriers to protect their auto industry? The Japanese government. The way some people talk you'd think that Japanese car makers are existing in some sort of Milton Friedman wet dream where only the free market's invisible hand has pushed them past their American competitors. Very well said. I don't trust them. And I think they're going to ask for money. Link to comment Share on other sites More sharing options...
Jim in Anchorage Posted December 24, 2008 Share Posted December 24, 2008 1941? Curious-that would be pearl harbor Link to comment Share on other sites More sharing options...
KD in CA Posted December 24, 2008 Share Posted December 24, 2008 Who pays for the health care of Toyota's Japanese employees? The Japanese government. What does that have to do with US automakers? Do you also support throwing billions of dollars at Boeing because AirBus gets support from the Euros? When exactly did we decide that US business not be required to compete on their own merits? The way some people talk you'd think that Japanese car makers are existing in some sort of Milton Friedman wet dream where only the free market's invisible hand has pushed them past their American competitors. No, it's mostly been the result of poor management plus unchecked greed by the unions. Link to comment Share on other sites More sharing options...
Live&DieBillsFootball Posted December 24, 2008 Share Posted December 24, 2008 The bailouts for GM and Chrysler were made because they would be forced into bankruptcy without them. As for Toyota, this is their first annual loss ever. Why would they need a bailout?? Link to comment Share on other sites More sharing options...
RLflutie7 Posted December 24, 2008 Author Share Posted December 24, 2008 The bailouts for GM and Chrysler were made because they would be forced into bankruptcy without them. As for Toyota, this is their first annual loss ever. Why would they need a bailout?? Because they may not want to keep investing money in a money losing operation. So they'll probably want the gov't to kick in some money because other auto makers are getting it. They'll use the "we create jobs" excuse. Link to comment Share on other sites More sharing options...
meazza Posted December 24, 2008 Share Posted December 24, 2008 Because they may not want to keep investing money in a money losing operation. So they'll probably want the gov't to kick in some money because other auto makers are getting it. They'll use the "we create jobs" excuse. Invest money in a losing operation??? 1 bad quarter and it's a losing operation??? Link to comment Share on other sites More sharing options...
Dante Posted December 24, 2008 Share Posted December 24, 2008 Toyota doesn't need help from the government? Who pays for the health care of Toyota's Japanese employees? The Japanese government. Who's been artificially devaluing their currency to protect their automobile imports? The Japanese government. Who's been rebating value added taxes on their exports to American while imposing the same taxes on imports from America? The Japanese government. Who uses a variety of non-tariff barriers to protect their auto industry? The Japanese government. The way some people talk you'd think that Japanese car makers are existing in some sort of Milton Friedman wet dream where only the free market's invisible hand has pushed them past their American competitors. There's never been tariffs on Japanese cars? Your full of crap. Japs make a better product. They don't have a adversarial relationship between management and labor. Two huge advantages that have nothing to do with government help. If I was looking for a job in the auto industry and had a choice which side to go on. I'm going to Toyota, Honda. Not a US company. Simply because I don't want to work in a atmosphere that is divided and I want to work for a winner. Link to comment Share on other sites More sharing options...
John Adams Posted December 24, 2008 Share Posted December 24, 2008 Thoughts? I think everyone knows what mine are. "Cold window yummy on tongue." Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted December 24, 2008 Share Posted December 24, 2008 Does this mean Toyota's going to ask the Fed for bail out money too? Probably... They have already been getting help from the Japanese gov't for many decades nows... Maybe they will just ask for MORE of an unfair competitive advantage from their gov't? Odds are they will hide it from the press and let the Americans take the heat as usual...Just like they do with their crappy sludge prone engines. Maybe it is meant to be... America's bad business model for their domestic automobile industry will surely cause that industry to fail exposing the warts for the other car companies which supposedly have "superior" products... Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted December 24, 2008 Share Posted December 24, 2008 I think the Japs should get a bailout from US taxpayers... US taxpayers have already helped out European banks. Let's stay consistent and help the whole world slay our workers so they can depress wages back home in the states. That is what is all about, right? It is not about the workers in the states striving to make more, live better, and provide for a better family economic income. It is all about lowering wages to what others in the world make. It is all about begrudging our "unskilled" next door neighbor a better living for their family becaue they make more than we do. Why should we strive for higher economic standards for working familys?... Sure looks like as a nation we are striving to lower these standards... Fine with me, less money to spend across the board. Merry Christmas... Welcome to Pottersville! The moneymen, laywers, and other dirt-bags in our society sure want us to go from the "Bedford Falls/Bedford Park" ideals and move closer to the "Pottersville" values. Nice job America! Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted December 24, 2008 Share Posted December 24, 2008 Invest money in a losing operation??? 1 bad quarter and it's a losing operation??? Most community banks in America are insolvent. That is a losing operation. Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted December 24, 2008 Share Posted December 24, 2008 I'm sure Toyota will make the right decision. Any company that can go that long without a loss is doing something right and does not need the governments help. Wish are good ole American icon companies could compete without having their hand held by mommy. Funny how these myths like what you say get started... Last time I looked, Japan is a SOCIALIST counrty... Well, more surely more socialized than us! Dude... They a have been getting gov't help since the get-go... They are subsidized by their gov't. God I hope the yen goes 1-1 with the dollar even if it is for the sure fact of seeing the looks on the faces of the dimwits that propagate these myths. Link to comment Share on other sites More sharing options...
RLflutie7 Posted December 24, 2008 Author Share Posted December 24, 2008 I think the Japs should get a bailout from US taxpayers... US taxpayers have already helped out European banks. Let's stay consistent and help the whole world slay our workers so they can depress wages back home in the states. That is what is all about, right? It is not about the workers in the states striving to make more, live better, and provide for a better family economic income. It is all about lowering wages to what others in the world make. It is all about begrudging our "unskilled" next door neighbor a better living for their family becaue they make more than we do. Why should we strive for higher economic standards for working familys?... Sure looks like as a nation we are striving to lower these standards... Fine with me, less money to spend across the board. Merry Christmas... Welcome to Pottersville! The moneymen, laywers, and other dirt-bags in our society sure want us to go from the "Bedford Falls/Bedford Park" ideals and move closer to the "Pottersville" values. Nice job America! Very good post. The educated class, moneymen, lawyers and other dirt bags think that's the way to go. Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted December 24, 2008 Share Posted December 24, 2008 Very good post. The educated class, moneymen, lawyers and other dirt bags think that's the way to go. Yep... You have the Mr. Potters of the world trying to run the show. Transperancy in the banking world? The banking world has the 8 thousand dollar and they are not saying peep... Scum bags... And they have their lawyers to protect them. I am all for the "alternate ending" to It's a Wonderful Life. Link to comment Share on other sites More sharing options...
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