Toyota looking for Bailout!!
03-04-2009, 08:55 AM
#23
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hahah I loves these posts. Everyone is hurting right now. I wouldn't be surprised if sooner or later everyone is asking for bail out money no matter what industry they are in.
03-04-2009, 09:00 AM
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What do you think they have in Europe?
And they have consistently high unemployment rates that are HIGHER than ours.
I think the money that is in this stimulus should be going to technology and healthcare and that's it.
And since ALL car companies are feeling the heat I don't think a bailout is going to help. We are throwing money at it instead of fixing the problem.
Our whole problem as a nation is the fact that the only way many of us can make money is what.......real estate. Why is that? Simple. We no longer can make goods competitively and we are DEPENDENT on foreign oil.
There is ONE answer to our problem. It isn't religion. It isn't socialism or capatailism. And it's not arguing and fighting about government and religion It IS technology. In recent years we haven't really worried about science or math but instead business. What's that gotten us? Well our whole transportation system is entirely dependent on oil which poses a huge problem.
There are TONS of possible solutions. We just haven't INVESTED in them. Instead we buy oil. Or we buy and sell houses. Or we sue each other. etc etc etc etc etc.
Hell IF we invested in developing fusion and were successful we would NOT NEED OIL. We could simply use electrolysis and store hydrogen for transportation needs. IC engines CAN generally be converted to Hydrogen. HMMMM.....I smell a whole industry.....Hydrogen conversion. We wouldn't have a Co2 problem. We wouldn't have caustic battery chemical problem.
Or we could go solar............................................. ....yadda yadda
There are more solutions too. Biofuels etc etc.
Why don't we?
Nobody has the ***** to stand up and say hey were doing it wrong. We should have had a base on the moon by now......HTF do we send men there in the 60s and NOT have a base? Why don't we have a space elavator? Why is the space program seemingly so wasteful and inefficient? Why do we pay another country for our main source of fuel?
The viscious cycle is simple to understand. In 1999 we deregulated banking and made it possible to buy private mortgages like stock. This seems safe. Investors threw money at it and banks lended more. Money was easy to get and demand for houses skyrocketed and bam you have inflation and housing bubble. Once demand for houses fell people lost jobs economy plummeted and BAM the bubble popped.
It will happen again if we let ourselves become dependent on the housing industry to make a living again.
We need to be dependent on making technologies and manufacturing goods that OTHER FREAKIN COUNTRIES BUY!!!!!!!!!!!!!!!!!!
Make them become dependent on us and we won't have this problem quite this bad.
Off the soapbox now.
And they have consistently high unemployment rates that are HIGHER than ours.
I think the money that is in this stimulus should be going to technology and healthcare and that's it.
And since ALL car companies are feeling the heat I don't think a bailout is going to help. We are throwing money at it instead of fixing the problem.
Our whole problem as a nation is the fact that the only way many of us can make money is what.......real estate. Why is that? Simple. We no longer can make goods competitively and we are DEPENDENT on foreign oil.
There is ONE answer to our problem. It isn't religion. It isn't socialism or capatailism. And it's not arguing and fighting about government and religion It IS technology. In recent years we haven't really worried about science or math but instead business. What's that gotten us? Well our whole transportation system is entirely dependent on oil which poses a huge problem.
There are TONS of possible solutions. We just haven't INVESTED in them. Instead we buy oil. Or we buy and sell houses. Or we sue each other. etc etc etc etc etc.
Hell IF we invested in developing fusion and were successful we would NOT NEED OIL. We could simply use electrolysis and store hydrogen for transportation needs. IC engines CAN generally be converted to Hydrogen. HMMMM.....I smell a whole industry.....Hydrogen conversion. We wouldn't have a Co2 problem. We wouldn't have caustic battery chemical problem.
Or we could go solar............................................. ....yadda yadda
There are more solutions too. Biofuels etc etc.
Why don't we?
Nobody has the ***** to stand up and say hey were doing it wrong. We should have had a base on the moon by now......HTF do we send men there in the 60s and NOT have a base? Why don't we have a space elavator? Why is the space program seemingly so wasteful and inefficient? Why do we pay another country for our main source of fuel?
The viscious cycle is simple to understand. In 1999 we deregulated banking and made it possible to buy private mortgages like stock. This seems safe. Investors threw money at it and banks lended more. Money was easy to get and demand for houses skyrocketed and bam you have inflation and housing bubble. Once demand for houses fell people lost jobs economy plummeted and BAM the bubble popped.
It will happen again if we let ourselves become dependent on the housing industry to make a living again.
We need to be dependent on making technologies and manufacturing goods that OTHER FREAKIN COUNTRIES BUY!!!!!!!!!!!!!!!!!!
Make them become dependent on us and we won't have this problem quite this bad.
Off the soapbox now.
03-04-2009, 09:40 AM
#25
We do have high tech products other countries buy; You name it, Aircraft, Chip manufacturing equipment, mining, Test eqp, software, military goods....etc, etc. One of the biggest problems I see is foreign countries copying our goods in the case of China and software, or subsidizing their own, or protecting their markets from our products in the case of Japan and Korea.
03-04-2009, 10:03 AM
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Toyota, Facing First Loss in 59 Years, Seeks Loans From Japan
By Tetsuya Komatsu and Naoko Fujimura
March 3 (Bloomberg) -- Toyota Motor Corp., forecasting its first loss in 59 years, is seeking loans from the Japanese government as private investors demand up to 50 percent more in interest for the company’s debt.
The company’s financial unit may ask for 200 billion yen ($2 billion) in loans, public broadcaster NHK reported today, without citing anyone. Toyota Financial Services Corp. spokesman Toshiaki Kawai said the unit is in talks with state-owned Japan Bank for International Cooperation, without confirming the amount.
The carmaker expects a net loss of 350 billion yen after vehicle sales in the U.S., traditionally Toyota’s most profitable market, plunged 31 percent last quarter. Incoming President Akio Toyoda is adding to the company’s reserves as the global recession also forces General Motors Corp. and Chrysler LLC to get bailouts from the U.S. government.
“Toyota should take advantage of anything it can to get through this crisis,” said Hitoshi Yamamoto, chief executive officer of Tokyo-based Fortis Asset Management Japan Co., which manages $5.5 billion in Japanese equities. “Money is not flowing in the capital markets.”
Automakers usually raise funds through bonds and loans for their financial companies to offer loans for their customers. The government aid would mostly be used to help offer loans to customers in North America, Toyota Financial’s Kawai said.
Toyota sold 80 billion yen in 10-year bonds priced to yield 2.012 percent last month. That compares with 150 billion yen of 10-year bonds sold in August 2002, priced to yield 1.337 percent.
Laying Up Cash
“Toyota is trying to lay up as much cash as it can to protect itself in a worst case scenario,” said Yasuhiro Matsumoto, a senior analyst at Shinsei Securities Co. in Tokyo. “The government loans, combined with the bond sale, show how much Toyota fears the global financial crisis.”
Japan will use some of its foreign-exchange reserves to lend to the state-owned corporation that gives financing to Japanese companies operating abroad, Japanese Finance Minister Kaoru Yosano said today.
Toyota follows other carmakers seeking government help as sales plunge worldwide. GM has received $13.4 billion in U.S. aid and is seeking more to keep its operations in its home market running through this month. France granted PSA Peugeot Citroen and Renault SA a total of 6 billion euros in five-year loans last month. In the U.K., carmakers are seeking support for their finance units from the Bank of England. Mitsubishi Motors Corp. has gotten subsidies from Japan’s Ministry of Health, Labor and Welfare to help pay wages, as it cuts domestic production.
Slashing Production
Toyota, the maker of the Corolla compact, may slash production 12 percent next fiscal year, it said yesterday. Toyota’s sales in Japan plunged 32 percent last month. In the U.S., sales also dropped 32 percent in January. Worldwide vehicles sales may fall 14 percent to 55 million units in 2009, according to Nissan Chief Executive Carlos Ghosn.
In response, automakers are shutting factories and cutting jobs. Toyota plans to halve the number of contract workers in Japan to 3,000 by March 31. GM last month said it is cutting another 47,000 jobs globally, as it reported a $30.9 billion annual loss. Volkswagen AG, Europe’s largest carmaker, on Feb. 28 said it will cut all 16,500 temporary jobs globally and shuttered five factories in Germany last week.
The Toyota City, Japan-based company has 2.34 trillion yen in loans and bonds maturing this year, according to data compiled by Bloomberg. The company had 2.3 trillion yen in cash reserves as of Dec. 31.
The extra yield over government debt of similar maturity that investors demand to own Toyota’s 1.22 percent bond due 2011 has more than doubled to 56.75 basis points as of yesterday from September according to data compiled by Bloomberg.
Toyota fell 0.3 percent to 3,060 yen, at the close of trading in Tokyo. The shares have risen 5.3 percent this year compared with a 19 percent drop in the benchmark Nikkei 225 Stock Average.
By Tetsuya Komatsu and Naoko Fujimura
March 3 (Bloomberg) -- Toyota Motor Corp., forecasting its first loss in 59 years, is seeking loans from the Japanese government as private investors demand up to 50 percent more in interest for the company’s debt.
The company’s financial unit may ask for 200 billion yen ($2 billion) in loans, public broadcaster NHK reported today, without citing anyone. Toyota Financial Services Corp. spokesman Toshiaki Kawai said the unit is in talks with state-owned Japan Bank for International Cooperation, without confirming the amount.
The carmaker expects a net loss of 350 billion yen after vehicle sales in the U.S., traditionally Toyota’s most profitable market, plunged 31 percent last quarter. Incoming President Akio Toyoda is adding to the company’s reserves as the global recession also forces General Motors Corp. and Chrysler LLC to get bailouts from the U.S. government.
“Toyota should take advantage of anything it can to get through this crisis,” said Hitoshi Yamamoto, chief executive officer of Tokyo-based Fortis Asset Management Japan Co., which manages $5.5 billion in Japanese equities. “Money is not flowing in the capital markets.”
Automakers usually raise funds through bonds and loans for their financial companies to offer loans for their customers. The government aid would mostly be used to help offer loans to customers in North America, Toyota Financial’s Kawai said.
Toyota sold 80 billion yen in 10-year bonds priced to yield 2.012 percent last month. That compares with 150 billion yen of 10-year bonds sold in August 2002, priced to yield 1.337 percent.
Laying Up Cash
“Toyota is trying to lay up as much cash as it can to protect itself in a worst case scenario,” said Yasuhiro Matsumoto, a senior analyst at Shinsei Securities Co. in Tokyo. “The government loans, combined with the bond sale, show how much Toyota fears the global financial crisis.”
Japan will use some of its foreign-exchange reserves to lend to the state-owned corporation that gives financing to Japanese companies operating abroad, Japanese Finance Minister Kaoru Yosano said today.
Toyota follows other carmakers seeking government help as sales plunge worldwide. GM has received $13.4 billion in U.S. aid and is seeking more to keep its operations in its home market running through this month. France granted PSA Peugeot Citroen and Renault SA a total of 6 billion euros in five-year loans last month. In the U.K., carmakers are seeking support for their finance units from the Bank of England. Mitsubishi Motors Corp. has gotten subsidies from Japan’s Ministry of Health, Labor and Welfare to help pay wages, as it cuts domestic production.
Slashing Production
Toyota, the maker of the Corolla compact, may slash production 12 percent next fiscal year, it said yesterday. Toyota’s sales in Japan plunged 32 percent last month. In the U.S., sales also dropped 32 percent in January. Worldwide vehicles sales may fall 14 percent to 55 million units in 2009, according to Nissan Chief Executive Carlos Ghosn.
In response, automakers are shutting factories and cutting jobs. Toyota plans to halve the number of contract workers in Japan to 3,000 by March 31. GM last month said it is cutting another 47,000 jobs globally, as it reported a $30.9 billion annual loss. Volkswagen AG, Europe’s largest carmaker, on Feb. 28 said it will cut all 16,500 temporary jobs globally and shuttered five factories in Germany last week.
The Toyota City, Japan-based company has 2.34 trillion yen in loans and bonds maturing this year, according to data compiled by Bloomberg. The company had 2.3 trillion yen in cash reserves as of Dec. 31.
The extra yield over government debt of similar maturity that investors demand to own Toyota’s 1.22 percent bond due 2011 has more than doubled to 56.75 basis points as of yesterday from September according to data compiled by Bloomberg.
Toyota fell 0.3 percent to 3,060 yen, at the close of trading in Tokyo. The shares have risen 5.3 percent this year compared with a 19 percent drop in the benchmark Nikkei 225 Stock Average.
03-04-2009, 10:03 AM
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Honda, Mazda May Apply for Japanese Government Loans
By Makiko Kitamura and Tetsuya Komatsu
March 4 (Bloomberg) -- Honda Motor Co., suffering from a 38 percent plunge in U.S. auto sales in February, may ask to borrow money from Japan’s government to lend to U.S. car buyers.
The amount of the loans and timing of the request to the state-owned Japan Bank for International Cooperation haven’t yet been determined, spokeswoman Akemi Ando said by phone today. Mazda Motor Corp. is also considering a request for government loans, spokesman Toyota Tanaka said today.
Honda and Mazda would follow Toyota Motor Corp., Japan’s biggest carmaker, in seeking loans from the government as the global recession hammers auto demand. U.S. auto sales in February slid to the lowest rate since December 1981, led by a 53 percent plunge for General Motors Corp.
“Things look pretty grim at present,” said Edwin Merner, president of Atlantis Investment Research Corp. in Tokyo, which manages $3.1 billion. “By the end of the year, the year-on-year figures should start improving unless the world economy gets much worse.”
Among Honda’s models, only its Fit small car and Acura TSX sport sedan, posted U.S. sales gains last month. The company may request at least 10 billion yen ($102 million) from the government, the Nikkei newspaper said today, without citing sources.
Mazda
Mazda, the Japanese carmaker partially owned by Ford Motor Co., increasingly needs the funds, mainly in the U.S. and Europe, Tanaka said in a phone interview. No details have been decided regarding a request for government funding, he said.
The carmaker’s U.S. sales slid 30 percent in February to 16,401 vehicles.
Japan will use some of its foreign-exchange reserves to lend to the state-owned bank that gives financing to Japanese companies operating abroad, Japanese Finance Minister Kaoru Yosano said yesterday. The ministry may lend about $5 billion to the bank this month, he said.
Honda has 986 billion yen in bonds coming due this year, according to data compiled by Bloomberg. Toyota’s financial unit may ask for 200 billion yen in loans, public broadcaster NHK reported yesterday, without citing anyone.
Honda fell 3.5 percent to close at 2,205 yen on the Tokyo Stock Exchange. Mazda rose 5.1 percent to 124 yen.
By Makiko Kitamura and Tetsuya Komatsu
March 4 (Bloomberg) -- Honda Motor Co., suffering from a 38 percent plunge in U.S. auto sales in February, may ask to borrow money from Japan’s government to lend to U.S. car buyers.
The amount of the loans and timing of the request to the state-owned Japan Bank for International Cooperation haven’t yet been determined, spokeswoman Akemi Ando said by phone today. Mazda Motor Corp. is also considering a request for government loans, spokesman Toyota Tanaka said today.
Honda and Mazda would follow Toyota Motor Corp., Japan’s biggest carmaker, in seeking loans from the government as the global recession hammers auto demand. U.S. auto sales in February slid to the lowest rate since December 1981, led by a 53 percent plunge for General Motors Corp.
“Things look pretty grim at present,” said Edwin Merner, president of Atlantis Investment Research Corp. in Tokyo, which manages $3.1 billion. “By the end of the year, the year-on-year figures should start improving unless the world economy gets much worse.”
Among Honda’s models, only its Fit small car and Acura TSX sport sedan, posted U.S. sales gains last month. The company may request at least 10 billion yen ($102 million) from the government, the Nikkei newspaper said today, without citing sources.
Mazda
Mazda, the Japanese carmaker partially owned by Ford Motor Co., increasingly needs the funds, mainly in the U.S. and Europe, Tanaka said in a phone interview. No details have been decided regarding a request for government funding, he said.
The carmaker’s U.S. sales slid 30 percent in February to 16,401 vehicles.
Japan will use some of its foreign-exchange reserves to lend to the state-owned bank that gives financing to Japanese companies operating abroad, Japanese Finance Minister Kaoru Yosano said yesterday. The ministry may lend about $5 billion to the bank this month, he said.
Honda has 986 billion yen in bonds coming due this year, according to data compiled by Bloomberg. Toyota’s financial unit may ask for 200 billion yen in loans, public broadcaster NHK reported yesterday, without citing anyone.
Honda fell 3.5 percent to close at 2,205 yen on the Tokyo Stock Exchange. Mazda rose 5.1 percent to 124 yen.
03-04-2009, 01:13 PM
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We do have high tech products other countries buy; You name it, Aircraft, Chip manufacturing equipment, mining, Test eqp, software, military goods....etc, etc. One of the biggest problems I see is foreign countries copying our goods in the case of China and software, or subsidizing their own, or protecting their markets from our products in the case of Japan and Korea.
Yeah foreign markets copy our goods. Always have. We do to. But if we keep down the road we're on we will be copying others more than we already do.
An economy that does not need to buy fuel from foreign nations that is built on technological advancement and manufacturing will be way way way more resilient than an economy based on selling property to each other. I mean c'mon guys where was the money coming from in that situation?
Giving auto manufactures bail out money is a bad idea. It only reinforces the problem.
Do you give your kids candy after they throw a temper tantrum? Why not?
Granted failing business and temper trantrums are different.......but negative reinforcement is the same thing.....
03-04-2009, 01:41 PM
#29
A few of us were hainvg lunch today & this girl who doesn't know **** about politics or whats going on at all really posed an interesting idea. "Why didnt they give every voter a million dollars instead of wasting it on the banks and cars?" While the idea is flawed, you could almost argue it would work in some aspects to help out. I mean, Americans are saving -.02% of what we earn. YES, THATS NEGATIVE. Obviously most people would go out and spend spend spend and that would help tremendously. But anyways, I just thought that was interesting; back to the point.
I won't claim to know everything about economics, politics, government, etc. but I don't think just a tax on buying Imports coupled with a tex rebate for buying Domestic could really help. I could be wrong, but I've heard from many wiser people than myself agreeing with it, in principle.
I won't claim to know everything about economics, politics, government, etc. but I don't think just a tax on buying Imports coupled with a tex rebate for buying Domestic could really help. I could be wrong, but I've heard from many wiser people than myself agreeing with it, in principle.
03-04-2009, 01:58 PM
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It's just a loan to get a lower rate from a previous loan they already have from the government. Japan understands the importance of their manufacturing industry, and fully supports it.
03-04-2009, 02:00 PM
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A few of us were hainvg lunch today & this girl who doesn't know **** about politics or whats going on at all really posed an interesting idea. "Why didnt they give every voter a million dollars instead of wasting it on the banks and cars?" While the idea is flawed, you could almost argue it would work in some aspects to help out. I mean, Americans are saving -.02% of what we earn. YES, THATS NEGATIVE. Obviously most people would go out and spend spend spend and that would help tremendously. But anyways, I just thought that was interesting; back to the point.
I won't claim to know everything about economics, politics, government, etc. but I don't think just a tax on buying Imports coupled with a tex rebate for buying Domestic could really help. I could be wrong, but I've heard from many wiser people than myself agreeing with it, in principle.
I won't claim to know everything about economics, politics, government, etc. but I don't think just a tax on buying Imports coupled with a tex rebate for buying Domestic could really help. I could be wrong, but I've heard from many wiser people than myself agreeing with it, in principle.
03-04-2009, 03:31 PM
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Perhaps you're not old enough to remember a guy named Ross who said GM's management were the dumbest folks on the face of the earth. GM solution, buy him out.
Then there was a guy named LOPEZ. Head of GM World Wide Purchasing. He changed the way GM worked with it's vendors. The he went to VW and GM went after him. Indeed GM has had problems for years!!
If the Japs had kicked our *** we wouldn't be talking about GM, right?
Get off your high horse. I've been in the auto related business for 40 years. Blame me. It's all my fault. I should have kept my GM stock when it was 50, 60, and 70 a share, but I sold when it was high and bought when it was low. What is that process called?
OK, so it's all my fault. Now what the hell do we do next?
With all the negative news we hear every day. Aren't we still better off then we were during WW-2? Why in your mind is everyone else doing things wrong? You're just a victim, right? Everything is FXXXXX up, no jobs, life sucks. Lets come here and bitch about it.
It must be a full moon! You're young - pick a industry - get into it - fix it. Look in the mirror, start with yourself.
And when every *** clown here and everywhere else stands on their own, guess what happens?
JD:
03-04-2009, 06:15 PM
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Up until VERY recently, there wasn't really anything to compare with the Mazda3/Civic/Corolla. The Cavalier was a joke; very inexpensive, but also very cheap. An example that I've used before and will use again is my old '05 Frontier Crew Cab V6/6spd. I wanted a midsize/compact truck with good power and a manual transmission. The Frontier was the ONLY truck that met the criteria, and now only Toyota has come out with something comparable. And I would also argue that the Sky/Solstice realistically are only "good" competitors at best in the small sports car segment, even though the Redline and GXP go great in a straightline. If I were getting a minivan I wouldn't get anything other than an Odyssey or Quest. Now if I was looking for a 3/4 or 1 ton truck or a cheap 1/2 ton to use as a work truck, domestic all the way. Or of course if I wanted something midsized with RWD and a V8.
In reality your just a mark for imports, plain and simple. But thats your choice and I respect that. The reality is Domestic cars have been on par for quite a while longer then you imagine. I love when you use the Cavalier example, What do you base that on? A friend who riced his out and ran the living **** out it.
There are many 'Cavs and other domestic product that have far out lasted what your narrow and inexperienced mind can fathom. Just look. To constantly spew your obvious slanted bias on a Forum that is based on General Motors products only goes to show what a troll you really are.
But that was quite evident owning a Mustang and posting on a
F-body forum.
Not to make it personal but you and 25 PISSER, are usually the first to praise the virtues of foreign cars and usually the last to have anything good to say. I don't know if you realize you come off like that to the casual observer but you do.
03-04-2009, 10:17 PM
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In reality your just a mark for imports, plain and simple. But thats your choice and I respect that. The reality is Domestic cars have been on par for quite a while longer then you imagine. I love when you use the Cavalier example, What do you base that on? A friend who riced his out and ran the living **** out it.
There are many 'Cavs and other domestic product that have far out lasted what your narrow and inexperienced mind can fathom. Just look. To constantly spew your obvious slanted bias on a Forum that is based on General Motors products only goes to show what a troll you really are.
But that was quite evident owning a Mustang and posting on a
F-body forum.
Not to make it personal but you and 25 PISSER, are usually the first to praise the virtues of foreign cars and usually the last to have anything good to say. I don't know if you realize you come off like that to the casual observer but you do.
There are many 'Cavs and other domestic product that have far out lasted what your narrow and inexperienced mind can fathom. Just look. To constantly spew your obvious slanted bias on a Forum that is based on General Motors products only goes to show what a troll you really are.
But that was quite evident owning a Mustang and posting on a
F-body forum.
Not to make it personal but you and 25 PISSER, are usually the first to praise the virtues of foreign cars and usually the last to have anything good to say. I don't know if you realize you come off like that to the casual observer but you do.
. Newsflash; if I drove a Corvette I would still be saying the same things I'm saying. If I drove a Viper, I would still be saying the same things I'm saying. Because from my experience, it's the truth. Do you think it's a coincidence that the Big 3 are concentrating on bringing to the public's attention how much their products have improved as of late? 
03-05-2009, 11:53 AM
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