Greg Roach's Berkshires Blog
Saturday, May 09, 2009
  Damn those overpaid UAW workers...
... Oh wait.
Stung by declining auto sales, Toyota Motor Corp. said it lost $7.7 billion in the fourth quarter -- leading to its first annual loss since 1950. And the world's largest automaker said next year may be worse.

Chief Executive Katsuaki Watanabe said Friday that Toyota, battered by a strong yen and slumping demand, lost $4.4 billion in its 2009 fiscal year, compared with a $17.7-billion profit a year earlier.

For its current fiscal year, Toyota is predicting an even greater loss of $5.5 billion.
When you let Fox News and Rush Limbaugh dictate media memes about why companies have hard times, you inherently will end up with contradictions.
 
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Source:
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