Originally Posted by dragonmaster093
i dont feel for toyota as a whole but i do feel for all the plants and parts suppliers in the USA that is keeping people employed. unfortunatly its a2 headed sword cause most money spent goes over seas but also pay Americans
I agree with your post, its really the arrogance of their actions that got me roiled,
When Chrysler was raped by benz, & left to flounder, all you heard was how bad the product was, & what a high quality piece Toyota was in comparison. Its still that way, but it seems public sentiment is changing twoards them.
You heard nothing on how the wall street @#$#$$# took a equity rich almost debt free company, Chrysler, sold it to Benz, who leveraged all the assets to the max, then takes the money & dump the shell of a company to some hedge fund, who then strips whatever is left & leaves the taxpayers with the bill.
(you have to understand that loan proceeds are not taxable as income, these corporate raiders looked for companies with low debt, borrow the max then dump them for a loss against profits & take the huge write downs even though they borrowed billions & leave the company with huge debt service, who cant possible pay the nut. And with such high debt there is nothing left for development of new products so sales tank. Sounds like a Sopranos episode, but thats how it works)