Toyota seeing first loss in 59 years, seeks loans from Japan

[Stuart G]

Source: Bloomberg, Huffington Post

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.

Read more: http://www.bloomberg.com/apps/news?pid=20601087&sid=anVdkcIs4K3g&refer=home

[billybob537]

1. Oh that's tragic

These are the same scumbags that have been lobbying Sen. Shellgame to keep low wage non-union jobs in AL.
Shelby opposes a bailout to US auto makers, becouse they compete with the FORIEGN car cos. who OWN Sen. Shellgame's ASS.
Pretty sad when we let foriegn business interests own a US senator!!!!

[LuvNewcastle]

3. Yeah, they love our non-union

work force in the deep south. And the politicians are cheap, too.

[Romulox]

2. Toyota's troubles are good for the environment (they MADE me want an SUV!)

:silly:

[jakefrep]

4. It's their own damn fault for building all those gas guzzlers

They shouldn't get a bailout unless they can make a car that gets 275 MPG by next week.

[GOPBasher]

5. lol

That's good. :thumbsup:

[WriteDown]

8. Can't... resist... slick... marketing... of..

gas......guzzler......must...buy....immediately.

[guidoo]

6. well...so much for the right wing meme

Well so much for the right wing meme that it's all the UAW's fault.

Now we have a non-union car company in trouble seeking loans from their

own national govt. Let me guess, Toyota is in trouble because they didn't get

a large enough tax break to locate their assembly plants in non-union territory.

[Romulox]

7. There are about a half dozen DUers who come out of the woodwork on bad news for GM

Where are all of DU's "auto experts" now? :hi:

[blue_onyx]

9. That is very interesting

If this had been a thread about GM asking for government loans, there would probably be 100 posts with a bunch of "GM makes shitty, gas guzzling cars" comments.

[mbperrin]

10. I know! Where are they? They were the folks with no answer to

Why is cutting wages and laying off people and eliminating their benefits going to increase their purchasing power in the economy?

[Psephos]

16. Ideologues of every stripe run from sunlight n/t

[Romulox]

11. Really. DU's anti-Labor contingent are REALLY being cowardly on this story!

[blueclown]

12. The BESTEST COMPANY EVAR posting a loss?

I thought the right-wingers said this would never happen?

Damn labor unions. How can Toyota stay competitive with labor unions? :sarcasm:

[xchrom]

13. kick

[ogneopasno]

14. But I thought Toyota was the bestest, progressivest, nicest company ever! Clearly, people who care

where their cars are made and blindly stick to union-made in the USA cars are at fault.

[Incitatus]

15. because they make shitty cars that no one wants

:sarcasm:

[fujiyama]

17. Toyota's viability as a company isn't in question

however I can't say the same about GM and Chrysler. Toyota isn't doing well, but they're still doing relatively better than US automakers.

But it does kill the GOP myth that the UAW is solely responsible for the downfall. That much is obvious BS. I do like Toyota's goal of not laying off their direct employees and they froze executive bonuses a while back as well...

[WriteDown]

18. Strange argument....

When you are taking a loss and going further into debt, you are non-viable. You seem to be arguing degrees of non-viability.

[pampango]

19. Lots of companies, probably close to all, have periods where they lose money and borrow

to keep going. Having a losing quarter or year doesn't mean a company is non-viable in the long run.

[WriteDown]

20. True..

But then what is the argument that GM is non-viable. Why can't they make a profit in the future?