posted 02-08-2006 09:39 AM         

"Toyota. Toyota turned in a record quarterly profit for the end of December, an increase of 34.1 percent over the previous year. Toyota made 398 billion yen ($3.4 billion) in the quarter on record sales. The New York Times reported that "'Toyota is taking advantage of the currency effect,' Kioyohide Nagata, senior fund manager at Invesco Asset Management Japan. This currency fluctuation, he said, is helping Toyota pay for its record $12 billion capital expenditure budget this year." The artificially weakened yen fell to 117 yen to the dollar, from 106 yen to the dollar during the October-to-December quarter. The Times also reported that "Currency depreciation added $1.1 billion to Toyota's operating profits of $4.1 billion for the period." And, "According to analysts' estimates here, Toyota's annual operating profit gains about $170 million for every drop of 1 yen in the value of the currency against the dollar. Likewise, in the last year, Toyota's market value rose by 50 percent, to about $186 billion, making Toyota the world's 12th-largest company by that measure, according to Bloomberg News." Last week, we urged the politicos in Washington to wake up to the stark reality of what's happening in world currency markets. Toyota's momentum isn't just due to being smart or building great products. A large (and growing) reason for their success is a direct result of their exploitation of every advantage provided to them by the Japanese government's officially sanctioned currency manipulation practices."

Hello Washington, are you listening? How long are we as citizens going to continue to put up with throwing our great manufacturing industries to the wolves? Think back on the great industries: shoes, ship building, textiles, steel and now the auto industry. I sure hope that Wal Mart raises their hourly pay and starts offering medical benefits. There's not much left here folks.

posted 02-08-2006 10:44 AM         

As I have mentioned on the boards before, I am shocked with all the anti-outsourcing rhetoric, that Americans don't "buy American". And the profits from a US built Toyota still end up in Japan so I do not view that as "buy American"

The major problems for the US are:

posted 02-08-2006 10:47 AM         

The toll road that goes across northern Indiana is being concidered to be leased to a company that also leases the famed toll road in Canada that you love so much. Our Govoner claims that the 96 Million they took in last year is at a loss. This company is offering 3.85 BILLION (UP FRONT) dollars for a 75 year lease. I read they expect to make 12% profit.........what is this going to do for northern Indiana? (The govenor wants to use the money in other areas of Indiana)

The auto industry goes back a long way. Chrysler was thinking of buying the Western Electric (across the street from the electrical plant they owned with tunnel under Shadeland ave that connected the 2 plants power houses) building here in Indy in the early 80's to build the mini van. Because Reagan would not limit the imports they choose not to make the investment here and used the St. Louis plant. Had this happened I would still be working for Chrysler and be able to retire in a few months.

WE ARE IN DEEP TROUBLE and the people that we elected are the ones that have helped get us there

I hear people complain about the unions as the reason the auto industry is in the shape it is in. In the 40's nearly 60% of the United States work force was unionized, I have not seen current figures but a few years back it was about 13%. The US would not have the benefits and income it has enjoyed for many years if not for our GREAT GRANDFATHERS, GRANDFATHERS, FATHERS AND MOTHERS that stood up to the big corporations and demanded a better way of life.

We are being taxed to death and sold down the river by the goverment and big business that is selling us out.

We need to unite again and take back our country.

Worker need to put PRIDE back into their work

CEO's of companies need to think of the company before their personal greed

The Goverment needs to think about the future generations that will have to live with what they have done

It is so hard to know whare something comes from these days. My Dodge Truck was built in Mexico, Sue's mini van was built in Canada, My Honda GOLDWING was built in Ohio.

The goverment is giving BIG tax incentives for the companies to come here and start up, no wonder they make such BIG PROFITS.

If a company can pay 3.85 BILLION dollars and make a profit, how will they do this? when the state claims they are losing money. The state has not raised the toll rate since 1985. Why has one of our Billionaies not stepped up to lease the road? Who will look good now with 3.85 BILLION DOLLARS that would have looked bad with a tool rate increase? How fast do you think they will double the cost of the tolls and our elected officals will say, "It's not us raising the rate"?

posted 02-08-2006 01:18 PM         

that said, I made a decision in 1984 not to buy any more foregin cars... and stuck to it ... (though I cant help but feel I comprised a bit when I got my 04 Xfire built in Germany by a (now German controlled) "American" company... one we all know and love(?)....

It's dang hard to even FIND "American made" on any products anymore... last summer I drove 40 miles to Sheboygan WI just to buy towels made in America. tough to do on a regulard basis .... hard to justify.

Greed is the source of all this ... bottom line. We sell (via stock market) to the highest bidder, no one cares
'who' the buyer is, it's the biggest buck that counts, and then (as has been going on for quite a while) they export the mfg out of the US and here we sit... no longer a mfg leader, but surely more and more a consumer nation.

And it isn't ALL "WalMart", though for sure they havent helped, the fact is they provide a service that is needed... if we didn't want "Buy Low Sell High" they wouldnt be in business either.

Damned right it's frustrating as hell!
"Superiority" of Americans is possibly one of the root problems... such a small world we live in that people have to believe they are at the top of the pile or do what is necessary to remain there...

posted 02-08-2006 07:12 PM         

Unions were necesary in the early 1900's but later they got too big and greedy.

Big business gets so big they let quality slide and fall apart.

Not much in tune to the yen, the yin, the yang and all that stuff but my thoughts are that if it wasn't for Toyota and the other imports we would all still be driving 3 year old rust buckets with misfitted body panels.

It's a tuff time to be sure for those in manufacturing relate careers but todays youth don't want to work in a factory. Factory work is a huge part of our history and contributed to our country's growth. But as other countries evolve they will have to go through the same steps of evolution as the US did. And the US will evolve beyond that and continue to lead the world with technology.

The US invented computers, the internet and tons of software that came with it. Medical research and mapping the human Genome is huge. And most of those jobs are well paying.

We're just shifting focus, that's all. The good ol' U S of A will be just fine.

Well I only meant to write a sentence or two but I got carried away.

posted 02-08-2006 08:06 PM         

I don't know if the country will wake up in time but I do know this, I will walk on blistered, bloody feet before I buy any car that is not made here.

posted 02-08-2006 08:21 PM         

Oh well,,,,,,,,,,,,,,,,

posted 02-08-2006 08:47 PM         

The Wal-Marts will continue to lure consumers who care for nothing but cheap prices.......
Toyota will never provide for it's workers, but Americans will flock to buy their products.........

In a nutshell, the difference between ignorance & apathy?

"I don't know, & I don't give a damn"

Americans are suffering from both mixed with a terminal case of denial.

posted 02-08-2006 09:41 PM         

GM sold 9.17 million vehicles worldwide in 2005, the most it has sold in 27 years.

posted 02-08-2006 10:15 PM         

quote:

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Originally posted by RPL:
My point wasn't about a competitive market, it was specifically about the fact that American companies do not have the same advantages of some of their major facing competitors. When countries manipulate their currencies their home companies have an unfair advantage. When countries import laws essentially lock US companies out of their home market, our companies can't even attempt to compete. Try sending a US made product to China, how about a US made car in Korea or US beef in Japan. We let virtually everyone that wants to sell their products here with minimal barriers. Do you know what Toyota's worst fear is? Its the fact that Washington will wake up and make them compete on a level playing field. Do an Internet search. You'll find the statements made by the chairman of Toyota. Heck even Toyota is afraid of both China and India. They made a mistake with Korea sharing technology that made the Korean car manufacturers competitive in ten years versus the twenty that it took them to make it. They're saying that the Chinese will do it in five years. The Chinese have zero respect for intellectual rights. Share technology with them and they'll gladly steal it.

I'm not crying sour grapes, I'm just calling BS, BS! Wake up Washington. Is anyone home?

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I lived in Taiwan from 1971 to 1973.....at that time there was a 100% import tax on automobiles, appliances and electronic goods....

posted 02-09-2006 09:07 AM         

You're correct, we can't sit back and just complain. I've voted in every election, often casting absentee ballots because we were going to be out of town. My senators and Representative probably think that I'm a nut case, but they know what concerns me. Have you ever sent an email to the President on an issue that you feel strongly about, I have.

I don't have a problem with people purchasing the product of their choice. I try to support American companies as best that I can. I purchase gas from Marathon because they claim to be an American company.

But again, my original point was that we American have a sense of fair play when it comes to our trading partners. They do not treat us fairly at all. That is up to Washington to try to do something about. Trade laws, trade barriers and currency manipulation.

Wayne hit on some big issues facing the American society. There are many more of our own making: prescription drug costs, health care, tort reform, pension issues and numerous others. Dixie is correct, its up to each of us to do our little part. If you don't like what's going on with your elected representatives, go out and vote against them. Feel strongly about a particular issue, write all our the appropriate legislators. It takes work. It takes everyone doing something. We got where we are because we let it happen. I wanted to share a few facts that the media generally won't tell you. I thought that you might care to know some of what is going on.

posted 02-09-2006 09:38 AM         

What really amazes me is the radical Islamic community that feels it acceptable for Al Jezera to broadcast the beheadings/murders of human beings, yet finds it blasphemous to illustrate the Prophet Mohamad in cartoon form as a point of speech. Are we missing something in this?

When it is all said & done, religion (for those who pursue it) is a very personal thing (i.e. one on one). Should someone chose to belittle or ridicule
my religous faith, I feel for their lose, but my faith personal (inside) will get me through it. I may have some inner feelings toward the critic, but my faiths & beliefs will dictact where I spend eternity, not his.

Freedom of speech/press should also come with an endless amount of tolorence. In many segments of (the world's) society, it does not.

How is that for going off on a tagent?

JMO

quote:

---

Originally posted by ed monahan:
Dixie, a lot of truth in what you posted, also. People shop at Wal-Mart in droves but criticize their wages, health plans (or lack there of).

---

Exactly! People scream about American jobs but, it's for the other guy to save while they get the lowest price on their goods.

Is it any worse for a company to ship jobs overseas to save money then for the consumer to buy up items from China to save money? We like to blame the big companies as being greedy but, if saving money is greedy we are all guilty of it.

The economy has also changed from 60 years ago. This is a global community now. Even if you buy an American car, chances are 60% of it is parts from overseas or is put together overseas.

posted 02-09-2006 12:42 PM         

quote:

---

The US invented computers, the internet and tons of software that came with it. Medical research and mapping the human Genome is huge. And most of those jobs are well paying.

---

Amigo, You are about 5 years behind on this point...

Computer programmers have the highest unemployment rate in the nation, about 5.8% right now. India is a hotbed for outsourced software development because US companies only need to give them a PC to work on and a few dollars a day wages. Likewise electronic hardware design support and manufacturing of computing platforms and other electronic gadgets and gizmos we all think we can't live without (blackberries, cell phones, ipods...) is happening overseas in places like Malaysia, Thailand , Singapore and China.