Toyota OK with GM going bankrupt
04-14-2009, 06:40 AM
#1
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Toyota OK with GM going bankrupt
A top Toyota executive says the automaker is prepared to deal with a possible bankruptcy filing by rival General Motors.
Toyota Motor Sales USA President Jim Lentz says his company shares about two-thirds of its 500 parts suppliers with GM, which is facing the possibility of a bankruptcy. Lentz made the remarks Wednesday at the New York International Auto Show.
Lentz says only a small number of Toyota suppliers are critically short on cash. Analysts fear that an automaker bankruptcy would take down parts suppliers and disrupt production industrywide.
Lentz says the $5 billion parts supplier bailout by the Obama administration will help preserve the supply base. The Tokyo-based automaker builds cars in the U.S. in Kentucky, Indiana and Texas.
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Toyota Motor Sales USA President Jim Lentz says his company shares about two-thirds of its 500 parts suppliers with GM, which is facing the possibility of a bankruptcy. Lentz made the remarks Wednesday at the New York International Auto Show.
Lentz says only a small number of Toyota suppliers are critically short on cash. Analysts fear that an automaker bankruptcy would take down parts suppliers and disrupt production industrywide.
Lentz says the $5 billion parts supplier bailout by the Obama administration will help preserve the supply base. The Tokyo-based automaker builds cars in the U.S. in Kentucky, Indiana and Texas.
More...
05-10-2009, 06:49 PM
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Join Date: Jan 2004
Posts: 404
You didn't see this coming? When a company is ran like ---- for so many years, how can someone feel sorry for them? You should see all the wastes of life that work in the plants for the big 3 here, you would realize why they are failing.
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