Friday May 25, 2012

JAPAN NEWS AND DISCUSSION

Toyota asking for government loan

Business Mar. 03, 2009 - 02:39PM JST ( 14 )

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14 Comments

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wanderlustMar. 03, 2009 - 03:59PM JST

Looks like Toyota need a new accountant. Or at least someone to explain where all of their money has gone. After years of boasting record-breaking profits, one bad year sees them go out with the begging bowl and fire their contract workers.
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tmarieMar. 03, 2009 - 04:00PM JST

Interesting to say the least. I didn't think they needed a loan as from rumours, they have a lot in savings. Being safe than sorry perhaps??
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bamboohatMar. 03, 2009 - 05:18PM JST

I think they are just trying to get while the getting is good. smart business move.
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herefornowMar. 03, 2009 - 05:26PM JST

Guess all you folks who were ridiculing the American car companies, and touting the Japanese ones, were only right to a degree. Sure GM, Ford, and Chrysler made mistakes. But so did Toyota -- mainly by buidling too much capacity, too fast, in the last decade. And declines witnessed lately in sales, like 30% per month, show any company's weeknesses.
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namabiru4meMar. 03, 2009 - 10:03PM JST

Toyota's only mistake was being the dominant automotive sales company in the US. How can any company expect a drop in sales as what has happened. Either way, the loan would be to carry the company over the bad times, not to pay them to keep from closing, like some US makers.

Contract workers are a part of the system here. It is not Toyota's fault for making them available nor their fault for them being expendable. They trimmed the fat where they could. Most US companies have resulted in layoffs; instead Toyota has cut working hours for regular factory workers allowing them to keep their jobs. More honorable than sh1t canning staff. However, I am afraid there will be a time when some additional "meat" will be cut. Truly hard times for the manufacturing industry world wide.
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bebertMar. 03, 2009 - 11:19PM JST

Toyota's only mistake was

Growing so fast that they let their quality slip. Hopefully, they will recover, until then I suggest you buy Honda.
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some14someMar. 03, 2009 - 11:29PM JST

Do not grant any loan since govt is already supporting Tokyo Stock Exchange.
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BadseyMar. 04, 2009 - 01:32AM JST

All these capitalist car companies must be allowed to fail in order for the new Marxism to take hold. Only one car company is needed:

We will bring back the name Toyopet and the only model made will be the Crown Comfort (Crown Classic) a two door utility version will be made available at special request.
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BadseyMar. 04, 2009 - 03:28AM JST

Germany is giving a 2,500€ incentive to new car buyers that trade-up from a 9yr or older car. =Japan could be doing something similiar to help out these car companies.
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BadseyMar. 04, 2009 - 03:33AM JST

Even better: only give the incentive on the most fuel efficient cars or hybrids (top 10-20%) = You are killing two birds with one stone (actually three if the manufactures continue to increase their fuel efficiency)

-A sort of sticker type reward system.
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herefornowMar. 04, 2009 - 06:25AM JST

nama -- spin it any way you like, the point is Toyota is now in the same boat as GM and Chrysler. If you say Toyota could not have been expected to anticipate the plunge in U.S. sales, how could GM or Chrysler been? A little hypocritical.
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unscrejectsMar. 06, 2009 - 01:44PM JST

Toyota was in the boat from 1996. In fact they pushed the Big 3 into the boat. I'm amazed people are starting to scratch their heads. Folks I've been posting that Toyota is one massive con game. You ain't seen nothing yet.
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dontpanicMar. 06, 2009 - 09:54PM JST

"Toyota is now in the same boat as GM and Chrysler"

Not true, Toyota wants the money to maintain capacity, not to avoid waving bye bye. GM is now threatening to default on its current $15 billion if another $30 billion isnt forthcoming. Desparate.
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unscrejectsMar. 08, 2009 - 10:56PM JST

Dontpanic: The secret subsidies have all but dried up. Toyota is up the creek and I don't mean Battle Creek Mi. Let's see this page in June.