Toyota Motors is canning all their temporary workers and closing a dozen plants. They already have over 90 days of inventory, and that number is just going higher. Toyota, at (TM 66.95) is just overpriced. It may be the best house in a bad neighborhood, but it's still an overpriced stock!And with 150 acres full of Toyota cars sitting in Long Beach, prices need to be cut to move this inventory. (The link below for the picture above.)
As this year passes, those car prices will decrease, while Toyota's losses will increase. Toyota leaked the news that the grandson of the company's founder, Akio Toyoda was going to head up the company, and the stock got a boost last week. Use that news to sell this number!
Toyoto's other plans last week to boost sales was to "encourage" it's managers to buy a car.
Toyota Motor Corp. managers are shopping for new Toyota cars in a voluntary effort to boost sales and show support for the company, an official said Wednesday, as Japan's top automaker battles a global slump.
The move underlines the hard times for Toyota, which stunned Japan by forecasting its first annual operating loss in 70 years for the fiscal year ending March 31.
The proposal was first aired late last month in an in-house letter that goes to about 2,200 middle-rank managers, who form a clublike group, said Toyota spokesman Yuta Kaga.
http://www.detnews.com/apps/pbcs.dll/article?AID=/20090114/AUTO01/901140423/1148
The move underlines the hard times for Toyota, which stunned Japan by forecasting its first annual operating loss in 70 years for the fiscal year ending March 31.
The proposal was first aired late last month in an in-house letter that goes to about 2,200 middle-rank managers, who form a clublike group, said Toyota spokesman Yuta Kaga.
http://www.detnews.com/apps/pbcs.dll/article?AID=/20090114/AUTO01/901140423/1148
Use the "fluff" press to sell it.
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