Wednesday, February 3, 2010
Toyota Stimulus money--$75K per dealer
Last year, if you sold less than 500 cars, you get $5K. Over 4,000 you get $75K
Toyota has 1200 dealers. Even at $75K a dealer, the payment only amounts to $90 million.
On the repair news today, Goldman Sachs downgraded Toyota today to neutral. Take a look at the above chart, and look what happened to the stock at 10:30 when Goldman saw something in Toyota they didn't like.
Today, Transportation Secretary Ray LaHood said they are widening the probe to see if electromagnetic interference with electronic throttle systems was a causative factor .
Now they are checking Toyota's Prius for brake problems.
It looks like Toyota has a Pinto problem!
Especially since Uncle Sam is the main shareholder in GM and Chrysler!
Posted by Palmoni at 7:30 PM