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I hope this doesn't impact the flow of engines and parts to Lotus
Toyota sees first annual net loss since 1950 - Yahoo! News
Toyota sees first annual net loss since 1950 - Yahoo! News
Toyota sees first annual net loss since 1950
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+1 Not selling parts to customers who want to buy them would not be a great choice when you need to make money...... They might cut car production but selling parts - components is a big money maker for most car companies
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...at least toyota's prognosticators are doing their jobs correctly...
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Toyota facing A FULL BLOWN EMERGENCY!
Thursday, February 12, 2009
GREG KEENAN
Globe and Mail Update
February 12, 2009 at 6:54 PM EST
In past years, Toyota Motor Corp. [TM-N]has been dealing with minor crises and even making some up to combat what it calls big-company disease and the complacency that comes with almost constant success.
Now it's facing a full-blown emergency, which Toyota will address in North America by cutting pay for senior executives, eliminating their bonuses and those of salaried and hourly employees, cutting production again, and offering its first-ever U.S.-wide voluntary separation program to reduce the size of its work force.
The crisis, which will help cause the first financial loss in the company's 70-year history, makes adhering to its system, known as the Toyota Way, even more critical, said Jeffrey Liker, a professor of industrial and operations engineering at the University of Michigan.
"The core pillars of the Toyota Way are respect for people and continuous improvement," said Prof. Liker, who has written two books about the company. "Respect for people is a commitment to the economic and social well-being of all permanent employees. That's a commitment that 'we're not going to dump you because it's convenient for us.'"
The elements of the global automotive meltdown are becoming more familiar by the day as company after company announces massive job cuts, throttles back production and pleads with government for financial support.
On Monday, Nissan Motor Co. Ltd. said it will slash 20,000 jobs worldwide. A day later, General Motors Corp. announced the elimination of 10,000 salaried jobs.
The elements of the global automotive meltdown are becoming more familiar by the day as company after company announces massive job cuts, throttles back production and pleads with government for financial support.
Thursday, February 12, 2009
GREG KEENAN
Globe and Mail Update
February 12, 2009 at 6:54 PM EST
In past years, Toyota Motor Corp. [TM-N]has been dealing with minor crises and even making some up to combat what it calls big-company disease and the complacency that comes with almost constant success.
Now it's facing a full-blown emergency, which Toyota will address in North America by cutting pay for senior executives, eliminating their bonuses and those of salaried and hourly employees, cutting production again, and offering its first-ever U.S.-wide voluntary separation program to reduce the size of its work force.
The crisis, which will help cause the first financial loss in the company's 70-year history, makes adhering to its system, known as the Toyota Way, even more critical, said Jeffrey Liker, a professor of industrial and operations engineering at the University of Michigan.
"The core pillars of the Toyota Way are respect for people and continuous improvement," said Prof. Liker, who has written two books about the company. "Respect for people is a commitment to the economic and social well-being of all permanent employees. That's a commitment that 'we're not going to dump you because it's convenient for us.'"
The elements of the global automotive meltdown are becoming more familiar by the day as company after company announces massive job cuts, throttles back production and pleads with government for financial support.
On Monday, Nissan Motor Co. Ltd. said it will slash 20,000 jobs worldwide. A day later, General Motors Corp. announced the elimination of 10,000 salaried jobs.
The elements of the global automotive meltdown are becoming more familiar by the day as company after company announces massive job cuts, throttles back production and pleads with government for financial support.
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580 Posts
It was a long time coming given the crap they've been cranking out of late. During the 90's I bought five new Toyotas and was a staunch evangelist of the brand. Then they killed every sports car offering they had, and entirely alienated me as a customer. Can't imagine I was the only one.
That said, the chances of the parts and engine distribution part of the business being disrupted are about nill.
That said, the chances of the parts and engine distribution part of the business being disrupted are about nill.
Toyota's financial issues right now don't have anything to do with their product lineup. There just isn't the same volume of buyers as there used to be. Toyota may make few enthusiast-oriented cars these days (TRD Aurion, TRD Tundra, etc), but the company does an exceptional job appealing to your average vanilla customer.
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