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« Text Still Not Found | Main | Some Folks Weren't Paying Attention » February 6, 2007Toyota Can Pay Cash for Its New Assembly Plant
"Toyota's numbers are super, super strong," said Koji Endo, auto analyst with Credit Suisse First Boston Securities in Tokyo. "To be honest, it's hard to find anything bad at this point." Toyota did not comment on where it might build its next U.S. factory to keep up with strong demand there. American newspapers have reported that Chattanooga, Tenn., and Marion, Ark., are among the finalists.Previous news reports have said the new assembly plant will cost $1 billion, meaning Toyota is now earning more profits in one month than the cost of building the new plant. Toyota, which is close to overtaking slumping General Motors (owner of the Saturn plant in Spring Hill) to become the world's No. 1 automaker, can pay cash for its new assembly plant. Keep that in mind as the Bredesen administration negotiates secretly with Toyota over just how big the taxpayer-funded incentives package will be. Posted in Tennessee Government News
Comments
If I'm not mistaken, from an earnings report last year Toyota's profits were up 34%. You don't hear Congress going after Toyota for excessive profits like they did with Exxon. This is good ol' fascism at it's finest. Maybe Philly needs a new Lexus... Posted by: Rick Forman at February 6, 2007 4:58 PMPost a comment
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With Tennessee Gov. Phil Bredesen's administration and the state's economic development officials reportedly engaged in secret talks with Toyota Motor Corp. to build its next American plant on a site in Chattanooga, there's some news today that the policymakers, the news media and the people of Tennessee ought to be aware of: 