Zaoman 0 Posted December 23, 2008 Share Posted December 23, 2008 Watching the news every day at the moment is like "what next?" >> Profits at Toyota Motor, the Japanese motor giant, are set to dive into the red for the first time since 1941 as exports screech to a halt and margins are hammered by the soaring yen. Widely considered to be the best-managed automaker on the planet, Toyota's statement is likely to send a shudder throughout the rest of the car industry. In what some investors also described as a “devastating†blow to prospects for the entire Japanese economy, the giant automaker said that it would probably book a loss of Y150 billion in the current financial year: a shock contrast, said brokers at Nomura, with the record Y2.2 trillion operating profits logged in fiscal 2007. “We have lived our whole lives knowing only a situation where Toyota makes money,†said the senior executive of one Nagoya-based car dashboard maker, “this changes our whole world.†Link to post Share on other sites
grungy-gonads 54 Posted December 23, 2008 Share Posted December 23, 2008 I read a while back that Honda (?) were going to shut down factories in the UK for 2 whole months Jan/Feb. Or something like that. There sure is a lot of grim news around now. Link to post Share on other sites
Tubby Beaver 209 Posted December 23, 2008 Share Posted December 23, 2008 In France Citroen (or Renault) have shut down for 2 months....their staff are on full pay though Link to post Share on other sites
bobby12 0 Posted December 23, 2008 Share Posted December 23, 2008 We have had the earthquake and now come the tsunamis. The question is how big they are going to be, and for how long. Link to post Share on other sites
keba 0 Posted December 23, 2008 Share Posted December 23, 2008 I got dissed in another thread for comparing the current situation to what happened after the '29 stock market crash. Every day brings us closer... Link to post Share on other sites
RobBright 35 Posted December 23, 2008 Share Posted December 23, 2008 bobby12 - right now the problems are really in the UK - they have sold off so many of their industries that they are going to find it hard to regenerate themselves. Link to post Share on other sites
thursday 1 Posted December 23, 2008 Share Posted December 23, 2008 huh? The yanks did this. Link to post Share on other sites
NoFakie 45 Posted December 23, 2008 Share Posted December 23, 2008 It looks like Japan's exports to Asia are well down, so this is a global thing. So much for "decoupling". The suppliers of Toyota, and other big Japanese companies, work on thin margins at the best of times, so I think it'll hurt them the most. Many are small family firms. Link to post Share on other sites
Mantas 3 Posted December 24, 2008 Share Posted December 24, 2008 QUALITY IRON ORE FOR SALE! How about some lovely coal? Going cheap! There's plenty more where that came from sir... Link to post Share on other sites
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