really? i am not at all in that business but it is really surprising that any car maker these days is cash reach. wow.
Yep. If you read WSJ and Barron's about a few months ago, they had article about how much cash Toyota had. They had something like $30-$40B cash or more and acting like a central bank in Japan by bailing our struggling companies.
They do other things besides autos & financing..... "Toyota is involved in other operations, such as information technology and telecommunications, including certain intelligent transport systems, Gazoo.com, and prefabricated housing. Intelligent transport systems include information technology-based systems encompassing car multimedia systems, onboard intelligent systems, advanced transportation systems and transportation infrastructure, and logistics systems. The company operates a Japanese-language Web site, Gazoo.com, as well as engages in the manufacture and sale of prefabricated housing."
Anyone think GM's woes will lead to some sort of a national insurance program that is in part financed by the govt? I heard some weeks ago one of GM's execs (don't remember his name) whining (accurately) that some foreign auto makers get subsidized because of national health insurance programs. DS
Let GM and F go bankrupt; further proof that unions were once usful but can eventually bankrupt a giant and criple a nation.
Maybe. I don't think it's totally the union's fault. Yes, they are a burden. But a lot of countries have unions and their companies do OK to fairly well. Reducing obligations to unions is one thing. But the REAL BOTTOMLINE is that GM and F gotta start making better cars that people want to buy MORE of. And they are behind the curve on the hybrids too. Toyota and Honda are selling hybrids like hot pancakes! How come GM is so late in this game? They are thinking about hydrogen fuel cell which will not come to fruition for another 10 YEARS! If ever. That's an unproven and extremely expensive technology. So, get with the program. Stop blaming everybody else for their problems.
Oh, of course the blame ultimatly lands on F and GM for putting up with the union crap. I guess they're hoping for a government bailout or something to prevent them from making the hard decisions.
To me this really is the whole issue. When GM comes out with cars like the Malibu Maxx or the Pontiac Aztec...and this is their only answer to extremely well crafted vehicles like the Camry, the Accord, or the Highlander and Pilot, they are doomed. The management of GM, if they had any pride, would fall on their swords and get it over with here and now.
Chief of Toyota is smart, he realizes free trade can easily be reversed In the end, nationalism will always win out: it's always the us VS them mentality
Can you believe those lazy GM workers in the US? The gall, asking for health insurance from their employer!!! Let them eat cake, I say! BTW, in Canada, health costs per car are only 100$ because Canada has decent healthcare that does not act like a tax on business. Ciao.