Filed under: Economy, Hybrids/Alternative, GM, Toyota, Rumormill
Toyota denies rumors of giving aid to GM
Rumors of a meeting between GM CEO Rick Wagoner and top officials from Toyota in Japan has been denied. This shouldn't come as much of a surprise, considering that it's GM's policy not to comment on such matters, but Toyota has no such policy and has also denied that such discussions have or will take place. The Japanese Kyodo News had started the rumors, which specifically suggested that Toyota could offer GM hybrid technology and assistance in the assembly of small cars. That seemed rather odd, especially since GM has its own sophisticated Two-Mode hybrid system that was developed along with Chrysler and BMW. Toyota and GM also already share a factory in California that builds relatively fuel efficient compact cars, so any deal between the two automakers would just be an extension of their current agreements. What's more, General Motors is also in talks with Cerberus to make a major play on Chrysler's automotive operations, so it would seem to be an inopportune time to discuss major deals with other automakers as well.
[Source: Reuters]
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Reader Comments (Page 1 of 1)
xcrunk 2:52PM (10/30/2008)
One night stand?
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Gabagool 2:56PM (10/30/2008)
Rick told him give us money or i will blame Japanese for stealing US jobs.---While this is a poor attempt by me too seem funny the reality is that many people who buy GM cars do so solely because they want to buy "American" even if it is made in Mexico and even if it is crap to put it mildly.
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Ben Poese 3:13PM (10/30/2008)
Would you PLEASE do me (and probably the rest of the autoblog world) a favor and refrain from posting?
You hate GM and love imports. I get it. I'm tired of reading about it.
So before posting again, I beg you to ask yourself two questions.
1: is my post on topic????
2: is my post insult-free????
If you can't answer "yes" to both questions, just don't post it!
I don't want to read your crap! And I'm sure I'm not alone in this.
Icon149 3:19PM (10/30/2008)
GM has Layed off more employees in the last year than totyota employs in the USA... when you buy American... more of the money stays in the USA, it supports more americans, and keeps the US economy working harder than when you buy a Toyota... even if the toyota happens to be an american built model...
yes some GM cars are built in mexico, but a lot of those components were still sourced and developed in the USA. similiarily all the white collar jobs (which are high paying important drivers of the economy) are also in the USA when you buy american... when you buy foreign there is a very good chance it was designed outside the usa, and the white collar jobs are also all overseas. bashing GM is easy, but it will be a very long and dark day if GM, Ford and Chystler don't pull through this. Millions of jobs are at stake, and they will NEVER all be replaced by foreign automakers, especially when the US market is in such a depression because of the millions of jobs lost, why would anyone invest money in design centers and US headquarters when no one in the country has money...
Buying american made foreign cars helps mostly assembly line workers... far fewer engineers, accountants, managers, designers, secretaries and over paid executives (who pay lots of taxes) get anything from buying that assembled in the usa designed in japan automobile.
Corey W. 4:24PM (10/30/2008)
Gabagool,
If you really believe that.... ignorance is bliss!!
MoonRover 6:59PM (10/30/2008)
Gabagool,
The good news is, there is help for your condition, the bad news is, it will require intense psychological therapy. But take heart, with time and close supervision from the psychiatric community, you could very well reach the third grade level in 10 years or so. In the meantime don't play with anything sharp, or run with scissors.
jamie 3:04PM (10/30/2008)
Not to worry though.
The Governors of MI, DE, KY, NY, OH and SD called on the government to work under the provisions of the recently enacted Emergency Economic Stabilization Act to support the auto industry.
And so the tin cups are held out again. No longer does the handout lobbying go on behind doors and nor is it relegated to obscure changes in the tax code. Now the people and their Representatives are bypassed entirely. Everyone simply knocks on the door of Bernanke Bailouts Inc and Paulson's Pirates, who have unilaterally taken on the authority to decide who lives and who dies. The beggar's requests are then reported to the world and cheered by the market.
Welcome to our brave new world. No longer will government be hamstrung by the antiquated idea of constitutionalized gridlock and Representative government. From now on we will be run with all the efficiency of a high-powered Wall Street investment bank.
You can worry now.
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spw 3:16PM (10/30/2008)
really, how could Toyota help mighty GM? That doesnt make much sense... lol.
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Coco 3:44PM (10/30/2008)
I guess you've been living under a rock since the 70s?
Coco 3:43PM (10/30/2008)
Hey GM, no shame in asking for help... look at Porsche, they would've gone belly up in the 90s if they didn't ask help from the Japanese in implementing ("JIT - Just in Time" manufacturing process)
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Jeremy B 4:21PM (10/30/2008)
Im glad toyota denied. Let GM clean up their own mess. The only thing GM did right in the last few years is release that miracle pontiac calls the G8. That and borrow toyotas matrix(vibe).
Japan will always reign supreme.
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jv2k 4:42PM (10/30/2008)
Get some reading comprehension.
MoonRover 6:11PM (10/30/2008)
A deaf and blind mule would have known this, GM is much more technology advanced than Toyota. GM has always been at the forefront of automobile innovation, much of Toyota's innovation comes from other sources. Those tolling the bell for GM's demise, really do not recognize the importance of The General to this country strategically.
Our government cannot afford or allow GM to fail. Without "The American Automobile Industry" the results of WWII could have been vastly different. Does anyone in their right mind believe this country would rely on Japan or the Chinese or Europe for that matter, to build our military equipment in the event of war, no freakin' way.
If God forbid we should have such a disaster as WWIII, the American Automobile Industry would become a major player in the prosecution of that war and the defense of this country.
Those saying GM should be allowed to fail, simply aren't weighing the consequences of such a failure, not only in jobs(2.5 million) or the importance of the industry strategically, you can bet the President and Congress has.
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Jeremy B 12:58AM (10/31/2008)
Moonrover makes a very good point.
jv2k, are you my english teacher from high school? Pester someone else with your rude comments. I aint the one.
That being said, i see a better chance of GM buying out chrysler than this happening.
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Chuan 8:55AM (10/31/2008)
Toyota has helped GM in the past. Have we forgotten that quickly? Geo, hybrid programs, raising the prices of its own cars... just to name a few.
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