Toyota Announces First Ever Loss
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Toyota Motor Corp, the world's biggest automaker, forecast a much bigger-than-expected $8.6 billion annual loss and said it would sell about 1 million fewer vehicles this year, leaving it desperately trying to cut costs in the grip of a severe market downturn. Toyota is bleeding overhead costs, with about a third of its global assembly lines working on single shifts. It will slash capital spending by more than a third this year to 830 billion yen as it puts expansion projects on hold, but it said it was not thinking of closing any production lines for good.[^]
Toyota also has debt coming due that makes their situation even more dire. No rebound is expected in the global auto market any time soon, so I expect other automakers including Honda to start showing negative results. Honda has forecast a small profit for this year thanks to its relatively healthy motorcycle business, but their auto business is suffering.
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Toyota Motor Corp, the world's biggest automaker, forecast a much bigger-than-expected $8.6 billion annual loss and said it would sell about 1 million fewer vehicles this year, leaving it desperately trying to cut costs in the grip of a severe market downturn. Toyota is bleeding overhead costs, with about a third of its global assembly lines working on single shifts. It will slash capital spending by more than a third this year to 830 billion yen as it puts expansion projects on hold, but it said it was not thinking of closing any production lines for good.[^]
Toyota also has debt coming due that makes their situation even more dire. No rebound is expected in the global auto market any time soon, so I expect other automakers including Honda to start showing negative results. Honda has forecast a small profit for this year thanks to its relatively healthy motorcycle business, but their auto business is suffering.
GM has announced plans to double production in China and Mexico. Now that sure as hell is going to do a lot to help put people back to work. Admittedly a lot more people are buying GM cars in China, so I understand where they are coming from. I just wish they weren't doing it with money that Obama picked from my pocket. General Motors said on April 9 that it has "abundant cash" to finance production expansion to double its sales in China over the next five years.[^]
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
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GM has announced plans to double production in China and Mexico. Now that sure as hell is going to do a lot to help put people back to work. Admittedly a lot more people are buying GM cars in China, so I understand where they are coming from. I just wish they weren't doing it with money that Obama picked from my pocket. General Motors said on April 9 that it has "abundant cash" to finance production expansion to double its sales in China over the next five years.[^]
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
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GM has announced plans to double production in China and Mexico. Now that sure as hell is going to do a lot to help put people back to work. Admittedly a lot more people are buying GM cars in China, so I understand where they are coming from. I just wish they weren't doing it with money that Obama picked from my pocket. General Motors said on April 9 that it has "abundant cash" to finance production expansion to double its sales in China over the next five years.[^]
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
Oakman wrote:
GM has announced plans to double production in China and Mexico
If the treasury allows them to. :laugh:
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GM has announced plans to double production in China and Mexico. Now that sure as hell is going to do a lot to help put people back to work. Admittedly a lot more people are buying GM cars in China, so I understand where they are coming from. I just wish they weren't doing it with money that Obama picked from my pocket. General Motors said on April 9 that it has "abundant cash" to finance production expansion to double its sales in China over the next five years.[^]
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
Oakman wrote:
GM has announced plans to double production in China and Mexico.
True. The plan is to increase non-US production from 15% of total production to 25% of total production over the course of the next 5 years. If the market expands, no US jobs will suffer, but that might be wishful thinking.
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Oakman wrote:
GM has announced plans to double production in China and Mexico.
True. The plan is to increase non-US production from 15% of total production to 25% of total production over the course of the next 5 years. If the market expands, no US jobs will suffer, but that might be wishful thinking.
Ed Gadziemski wrote:
If the market expands, no US jobs will suffer, but that might be wishful thinking.
Frankly I don't care whether it is wishful thinking or precognition. I just want to know what right Obama has to take money from me and my kids and give it to these dumbos to let them stay in business when they have demonstrated they are not fit to manage a kiddie-kar race track, let alone a once-great car company. As a lover of all things Obama, I am sure you can explain it to me.
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
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bulg wrote:
Ever read Snowcrash, Jon?
Loved it.
bulg wrote:
'Cause it's starting to look prescient.
Maybe that explains all the wierdness with the links here at CP??? :~
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
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Oakman wrote:
GM has announced plans to double production in China and Mexico
If the treasury allows them to. :laugh:
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I'm the square peg in the round hole.
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I'm the square peg in the round hole.
73Zeppelin wrote:
I'm the square peg in the round hole
There's only a few of us and so many round holes. . .
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
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73Zeppelin wrote:
I'm the square peg in the round hole
There's only a few of us and so many round holes. . .
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
Oakman wrote:
There's only a few of us and so many round holes. . .
:laugh: Oh, brother... You are both perfect examples of pegs fitting their holes very comfortably indeed. You've simply failed to notice that the holes have been carefully reshaped to accomodate you.
Chaining ourselves to the moral high ground does not make us good guys. Aside from making us easy targets, it merely makes us idiotic prisoners of our own self loathing.
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Ed Gadziemski wrote:
If the market expands, no US jobs will suffer, but that might be wishful thinking.
Frankly I don't care whether it is wishful thinking or precognition. I just want to know what right Obama has to take money from me and my kids and give it to these dumbos to let them stay in business when they have demonstrated they are not fit to manage a kiddie-kar race track, let alone a once-great car company. As a lover of all things Obama, I am sure you can explain it to me.
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
Oakman wrote:
I just want to know what right Obama has to take money from me and my kids and give it to these dumbos to let them stay in business
The same right he has to take money from me and give it to assholes on Wall Street. The same right he has to fund wars I oppose in AfRaq. The same right he has to give military and financial assistance to Israel, the source of most problems in the M.E. He's the president. This is a democracy. He won the election. Get over it.
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Oakman wrote:
There's only a few of us and so many round holes. . .
:laugh: Oh, brother... You are both perfect examples of pegs fitting their holes very comfortably indeed. You've simply failed to notice that the holes have been carefully reshaped to accomodate you.
Chaining ourselves to the moral high ground does not make us good guys. Aside from making us easy targets, it merely makes us idiotic prisoners of our own self loathing.
Stan Shannon wrote:
You are both perfect examples of pegs fitting their holes very comfortably indeed. You've simply failed to notice that the holes have been carefully reshaped to accomodate you.
Well, of course, I reshaped it. People like John and me don't adapt to their environment; we adapt our environment to us.
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
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Oakman wrote:
I just want to know what right Obama has to take money from me and my kids and give it to these dumbos to let them stay in business
The same right he has to take money from me and give it to assholes on Wall Street. The same right he has to fund wars I oppose in AfRaq. The same right he has to give military and financial assistance to Israel, the source of most problems in the M.E. He's the president. This is a democracy. He won the election. Get over it.
Ed Gadziemski wrote:
He's the president. This is a democracy. He won the election.
Ah yes, the President as strongman theory - you've been studying with Stan, I see. Personally, I prefer Presidents who are more interested in the citizens of this nation than helping out Mexico and China. Though apparently both Bush and Obama don't agree with me.
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin