Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Japanese government giving Billions to Toyota to finance cars sold in North America

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
 
NNN0LHI Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-07-09 05:58 AM
Original message
Japanese government giving Billions to Toyota to finance cars sold in North America
http://www.bloomberg.com/apps/news?pid=20601101&sid=azc...

Toyota Says Finance Unit Isnt Seeking Japanese Bailout Loan


By Alan Ohnsman

March 7 (Bloomberg) -- Toyota Motor Corp.s finance arm said any borrowing from the Japanese government wont be used for operational expenses and that such a loan isnt a bailout for the worlds largest automaker.

The credit units U.S. chief commented after Toyota Financial Services Corp. said this week its in talks with the state-owned Japan Bank for International Cooperation for an unspecified loan. Japanese news outlets said Toyota Financial may ask for 200 billion yen ($2 billion).

Some newspapers and blogs around the world were screaming bailout! George Borst, chief executive officer of Toyota Financial in the U.S., said yesterday in the companys Open Road Blog. Unlike other companies that have sought government loans to keep their manufacturing and operations afloat, we are not seeking any funds for operational expenses.

Government cash would boost Toyotas ability to finance auto purchases, especially in the U.S., where industrywide sales are at their lowest levels since the early 1980s. Toyota expects a net loss of 350 billion yen in the fiscal year ending this month, due in part to falling U.S. sales.

Printer Friendly | Permalink |  | Top
madrchsod Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-07-09 06:19 AM
Response to Original message
1. if one does`t know if they will have a job tomorrow
or there`s an actual need to buy a new car the auto industry will never recover.
Printer Friendly | Permalink |  | Top
 
jody Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-07-09 06:32 AM
Response to Reply #1
2. If one is accustomed to overeating, going on a crash diet can be traumatic. n/t
Printer Friendly | Permalink |  | Top
 
fasttense Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-07-09 07:41 AM
Response to Original message
3. I can get a loan tomorrow, I just can't get a job today.
I have a good credit rating. I've kept up on my house payments, but my unemployment and savings will soon run out. Without a good paying job, I don't need another loan. Loans are not the answer, Jobs are.
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Wed Jul 23rd 2014, 01:35 PM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC