GM bankruptcy
#136
Lexus Fanatic
iTrader: (2)
You give it up. You are comparing a complete bailout, 2 companies in bankruptcy and loans of what over $50 billion to Toyota who is FINANCIALLY VERY VERY VERY sound who is asking for $2 billion. When they have more than 2 billion in the bank.
Its complete apples and oranges and this article was posted by people who tried to attack Toyota months ago (across different forums) who didn't begin to read what it said.
You do realize that was in March. Since then Chrysler and Gm are BANKRUPT. Toyota while reporting losses (like everyone else) is moving forward.
Has Toyota asked for more money since then?
Its complete apples and oranges and this article was posted by people who tried to attack Toyota months ago (across different forums) who didn't begin to read what it said.
You do realize that was in March. Since then Chrysler and Gm are BANKRUPT. Toyota while reporting losses (like everyone else) is moving forward.
Has Toyota asked for more money since then?
You gotta be kinding me right? Toyota's finance unit borrowed $2 Billion dollars. That's pocket change for Toyota. Toyota can pay that back without a doubt. GM can not pay back the $50 Billion they received from us tax payers. Let's look at Toyota's financials shall we...
Fiscal Year Ending March 2005 - Net Income $10,900,000,000
Fiscal Year Ending March 2006 - Net Income $11,681,000,000
Fiscal Year Ending March 2007 - Net Income $13,927,000,000
Fiscal Year Ending March 2008 - Net Income $17,146,000,000
Fiscal Year Ending March 2009 - Net Loss <$4,491,000,000>
Toyota's current market cap is 123.77 Billion.
GM's current market cap is 500 Million (not even a billion)...weak...very weak...
http://finance.yahoo.com/q/is?s=TM&annual
http://research.scottrade.com/public...s.asp?period=A
Now let's look at GM's financials shall we...
Calendar Year 2002 Net Income of $1,736,000,000
Calendar Year 2003 Net Income of $3,822,000,000
Calendar Year 2004 Net Income of $2,805,000,000
Calendar Year 2005 Net Loss of <$10,567,000,000>
Calendar Year 2006 Net Loss of <$1,987,000,000>
Calendar Year 2007 Net Loss of <$38,732,000,000>
Calendar Year 2008 Net Loss of <$30,860,000,000>
1st Qtr. 2009 Net Loss of <$6,000,000,000>
As you can see Toyota is way more profitable than GM. Toyota is the big dawg...buddy...
Fiscal Year Ending March 2005 - Net Income $10,900,000,000
Fiscal Year Ending March 2006 - Net Income $11,681,000,000
Fiscal Year Ending March 2007 - Net Income $13,927,000,000
Fiscal Year Ending March 2008 - Net Income $17,146,000,000
Fiscal Year Ending March 2009 - Net Loss <$4,491,000,000>
Toyota's current market cap is 123.77 Billion.
GM's current market cap is 500 Million (not even a billion)...weak...very weak...
http://finance.yahoo.com/q/is?s=TM&annual
http://research.scottrade.com/public...s.asp?period=A
Now let's look at GM's financials shall we...
Calendar Year 2002 Net Income of $1,736,000,000
Calendar Year 2003 Net Income of $3,822,000,000
Calendar Year 2004 Net Income of $2,805,000,000
Calendar Year 2005 Net Loss of <$10,567,000,000>
Calendar Year 2006 Net Loss of <$1,987,000,000>
Calendar Year 2007 Net Loss of <$38,732,000,000>
Calendar Year 2008 Net Loss of <$30,860,000,000>
1st Qtr. 2009 Net Loss of <$6,000,000,000>
As you can see Toyota is way more profitable than GM. Toyota is the big dawg...buddy...
#137
Lexus Fanatic
iTrader: (2)
Comes down to simple terms, the American taxpayer gave $7 billion to Chrysler which no longer has to pay it back through their BK proceeding. Done deal. Thank you Americans.
Now Americans are once again told to bend over as we fork over $100 billion total for the industry.
At this time I care less about Toyota, who cares? If they were asking for American taxpayer money I would give them the same finger as I do to the so called American companies.
In my book, once you fail you take it upon yourself to get yourself up and running. No more welfare for those that put themselves in the position they are in. Bailouts should be placed on a ballot before any money goes into any industry. Case point California where we told the governor and legislator to $%^&*! off. More power to the people.
Now Americans are once again told to bend over as we fork over $100 billion total for the industry.
At this time I care less about Toyota, who cares? If they were asking for American taxpayer money I would give them the same finger as I do to the so called American companies.
In my book, once you fail you take it upon yourself to get yourself up and running. No more welfare for those that put themselves in the position they are in. Bailouts should be placed on a ballot before any money goes into any industry. Case point California where we told the governor and legislator to $%^&*! off. More power to the people.
#138
Lexus Fanatic
iTrader: (1)
man this 31 year old kid they are putting in charge of dismantling GM:
1) no formal business training
2) no business or economics education
3) no automotive industry experience
4) never worked in private sector
5) didnt finish his Yale law degree
GM still failed with people that had most of the above experiences. Set sail for fail
wow despair.com is quick:
http://site.despair.com/governmentmotors/
1) no formal business training
2) no business or economics education
3) no automotive industry experience
4) never worked in private sector
5) didnt finish his Yale law degree
GM still failed with people that had most of the above experiences. Set sail for fail
wow despair.com is quick:
http://site.despair.com/governmentmotors/
Last edited by 4TehNguyen; 06-03-09 at 09:11 PM.
#139
Moderator
Gotta love the diehards.. Have you guys taken up Economics during your college/high school years?? There is something called factors of production take off the Toyota/Lexus embroidered glasses for a moment & I will give you a brief synopsis. Toyota can make $50,000,000,000 for calender year 2009 but you forget about factors of production. The factors of production used to produce a good, in this case a Toyota, provide the basic measure of economic cost. The costs are measured by the amounts of land, labor & capital it requires. That $17 billion net icome for Toyomoco you posted for calender year 2008 is a lot of cash right Trexus? Toyota should be living large & in charge with that amount of paper. It is spent rather quickly.. Guess how? Let me give you guys an example.. You could pay me $2 per hour typing this post & still end up paying a lot for typing. Truth is, I type only about ten words a minute with a lot of misteaks. The cost of producing goods depends not only on the price of inputs (e.g. labor) but also on how much they produce. Toyota produces a lot of vehicles.. You guys pound on your chests everyday about them being the sales champs. Guess what? It comes at a price..
Fact of the matter is GM and ChyrCo are bankrupt. They are insolvent. They don't have enough money to pay their bills as they come due. GM made the wrong business moves and look where they are now. That's right; a burden to the U.S. taxpayers and hopelessly trying to make a come back. Who in their right mind will buy a GM car now? Warranties backed by the U.S. Government (think DMV, long lines at the Post Office, Immigration Office, Social Security Office or Internal Revenue Service)? Be my guest, let me know how that goes.
Last edited by Trexus; 06-04-09 at 12:32 AM.
#140
Moderator
http://finance.yahoo.com/q/bs?s=TM&annual
Accounting is the language of business. I advise you to take some accounting classes so you can understand the language...
Last edited by Trexus; 06-03-09 at 09:49 PM.
#141
Lexus Fanatic
iTrader: (2)
man this 31 year old kid they are putting in charge of dismantling GM:
1) no formal business training
2) no business or economics education
3) no automotive industry experience
4) never worked in private sector
5) didnt finish his Yale law degree
GM still failed with people that had most of the above experiences. Set sail for fail
1) no formal business training
2) no business or economics education
3) no automotive industry experience
4) never worked in private sector
5) didnt finish his Yale law degree
GM still failed with people that had most of the above experiences. Set sail for fail
I will take someone with street smarts and common sense over education anytime. As long as he knows the color RED and understands what the symbol - (minus) is, he will do just fine at GM.
Last edited by Pearlpower; 06-03-09 at 09:23 PM.
#142
Lexus Fanatic
Thread Starter
iTrader: (20)
#143
Moderator
#144
Lexus Fanatic
Man...you really don't know how accounting works do you? That $17 Billion net income gets closed into retained earnings. As of March 31, 2008 Toyota's retained earnings was at $123,850,000,000. Toyota's cash and cash equivalents alone was $17,600,000,000 at March 31, 2008
http://finance.yahoo.com/q/bs?s=TM&annual
Accounting is the language of business. I advise you to take some accounting classes so you can understand the language...
http://finance.yahoo.com/q/bs?s=TM&annual
Accounting is the language of business. I advise you to take some accounting classes so you can understand the language...
#146
Lexus Fanatic
iTrader: (2)
Gotta love the diehards.. Have you guys taken up Economics during your college/high school years?? There is something called factors of production. Take off the Toyota/Lexus embroidered glasses for a moment & I will give you a brief synopsis. Toyota can make $50,000,000,000 for calender year 2009 but you forget about factors of production. The factors of production used to produce a good, in this case a Toyota, provide the basic measure of economic cost. The costs are measured by the amounts of land, labor & capital it requires. That $17 billion net icome for Toyomoco you posted for calender year 2008 is a lot of cash right Trexus? Toyota should be living large & in charge with that amount of paper. It is spent rather quickly.. Guess how? Let me give you guys an example.. You could pay me $2 per hour typing this post & still end up paying a lot for typing. Truth is, I type only about ten words a minute with a lot of misteaks. The cost of producing goods depends not only on the price of inputs (e.g. labor) but also on how much they produce. Toyota produces a lot of vehicles.. You guys pound on your chests everyday about them being the sales champs. Guess what? It comes at a price..
Are you an economics major? Thanks for teaching a CPA economics. Have you heard of JIT manufacturing, variable costing or absorption costing?
Fact of the matter is GM and ChyrCo are bankrupt. They are insolvent. They don't have enough money to pay their bills as they come due. GM made the wrong business moves and look where they are now. That's right; a burden to the U.S. taxpayers and hopelessly trying to make a come back. Who in their right mind will buy a GM car now? Warranties backed by the U.S. Government (think DMV, long lines at the Post Office, Immigration Office, Social Security Office or Internal Revenue Service)? Be my guest, let me know how that goes.
Fact of the matter is GM and ChyrCo are bankrupt. They are insolvent. They don't have enough money to pay their bills as they come due. GM made the wrong business moves and look where they are now. That's right; a burden to the U.S. taxpayers and hopelessly trying to make a come back. Who in their right mind will buy a GM car now? Warranties backed by the U.S. Government (think DMV, long lines at the Post Office, Immigration Office, Social Security Office or Internal Revenue Service)? Be my guest, let me know how that goes.
Well, Toyota has them too Trexus.. Why did request a $2 billion loan?? Don't they have enough money in the bank to cover costs & stay off potential bankruptcy ??? Was that $2 billion loan for a 5 year supply of sushi? With a $120k salary, that $40k Lexus should be paid off in full right? In the case of GM, the UAW was squeezing their necks in costs (health care, retirement, salaries) to the point of no return on top of the costs of overall operations..
Toyota is just as immune as depicted in the many threads posted by the faithful..
https://www.clublexus.com/forums/car...roduction.html
Last edited by DASHOCKER; 06-04-09 at 08:50 AM.
#147
Forum Administrator
iTrader: (2)
Guys keep the personal commentary out of this thread please.
#149
Lexus Champion
Unfortunately, this is becoming too common of a case these days.
#150
Moderator
Why did request a $2 billion loan?? Don't they have enough money in the bank to cover costs & stay off potential bankruptcy ??? Was that $2 billion loan for a 5 year supply of sushi? With a $120k salary, that $40k Lexus should be paid off in full right? In the case of GM, the UAW was squeezing their necks in costs (health care, retirement, salaries) to the point of no return on top of the costs of overall operations..
Toyota is just as immune as depicted in the many threads posted by the faithful..
https://www.clublexus.com/forums/car...roduction.html
Toyota is just as immune as depicted in the many threads posted by the faithful..
https://www.clublexus.com/forums/car...roduction.html
GM is such a burden to the U.S. taxpayers that many cannot even phathom how big that burden is. The media states that GM and ChryCo received $50 Billion of U.S. taxpayers money via our Government and we most likely won't see that money ever paid back.
In the U.S. individuals and corporations that make money have to pay income taxes. Well guess what GM hasn't been making money since 2005 so they haven't been paying any income taxes. As we all know GM has massive amounts of NOL's (Net Operating Losses). Here's a tax trick. GM can carryback those NOL's to prior years that had income and offset those incomes to zero it out and the income taxes they paid in those prior years gets refunded back to GM. So see how GM's been a big burden to the economy and the United States taxpayers...
Whereas Toyota makes tons of money and they pay income taxes here in the U.S. (They get a tax credit in Japan, wouldn't want to get double taxed now would we?) Those income taxes Toyota pays for making profits here in the U.S. pays for the roads for which we drive on, pays for the police to protect our cities and neighborhoods and pays for the military to protect our very own freedoms. Toyota has plants here in the U.S. that employ American people and sell those same cars built right here in the good 'ol U.S.of A
As you can see GM is a very big burden to the economy and the United States taxpayers.
That's great that some people see GM as the underdog and is rooting for them but GM is a dead dog.
Why would anyone support an entity that is lifeless???
Last edited by Trexus; 06-04-09 at 11:58 AM.