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Honda Posts First Half-Year Operating Loss In 11 Years
Car Industry Carnage: US Auto Sales Down 18.8% For June

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Novaload
12/17/08

In reply to Honda Posts First Half-Year Operating Loss In 11 Years
I'm still mildly amazed the Washington hasn't made a real decision yet on assisting the big 3 -- "because it's their own damn fault they're in trouble" --but these same reps and presidential candidates could not get that Wall St. bailout together and signed fast enough. Oh, and didn't Barney "the Crank" Frank write that bill?

If Honda is losing money, I think we can say there's a trend here, Barney.
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olds
12/17/08

In reply to Honda Posts First Half-Year Operating Loss In 11 Years
Relativity: GM sold over twice as many vehicles as Honda in 2007 and 2008
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elwood
12/17/08

@olds: Then why didn't GM make any money in 2007 and 2008?
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RLJ676-LS3 Commuter Car - for the environment
12/17/08

@elwood:

RESTRUCTURING COSTS
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holvey
12/17/08

@rlj676-new job, same problems: You keep saying "restructuring costs" but the fact of the matter is, even with the loans, GM or Chrysler will need to declare bankruptcy sooner rather than later.

Honda has always been a company that takes conservatism to another level. And if they are worried about this recession, then the world should be downright fearful.
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MushyHeirloom
12/17/08

@holvey: Greenlighting the Ridgeline was conservative... how? It's basically the Honda Aztek, except that it doesn't suck as much.
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Das ASHloch (achtundsiebzig)
12/17/08

In reply to Honda Posts First Half-Year Operating Loss In 11 Years
Still no job cuts at the local Honda plant yet...but they are doing a one-week work stoppage with full wages around Christmas (basically a paid vacation).

A receding tide lowers all boats, but it still helps not to have a hull full of holes and loaded with dead-weight ballast.
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jbownsabmw- Koopas Beware
12/17/08

@The Name's Ash78, Housewares: Pretty much all large scale manufacturing facilities shut down over xmas. Its when they fix things.
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Das ASHloch (achtundsiebzig)
12/17/08

@jbownsabmw but still wants GM to survive: I think it was just noteworthy this time because it was Honda's first demand-driven stoppage at this particular Pilot/Odyssey plant...not just for maintenance.
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danio3834
12/17/08

@The Name's Ash78, Housewares: They may not have laid off any Honda workers, but I'll bet you they've told hundreds of their temp workers employed by whatever agency, not to come back.
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X3SoB
12/17/08

In reply to Honda Posts First Half-Year Operating Loss In 11 Years
The economy is in the shitter for sure, if Honda is having trouble. But, like GM, they have some good product in the pipeline, like the upcoming Insight(& Volt, for GM). All the more reason to bail out the not-so-big three, as I'm sure Japan will do for their companies, if need be.
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Ben Wojdyla
12/17/08

@X3SoB: (or as they have been in circuitous ways for the last 20 years... shhhhh!)
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smalleyxb122
12/17/08

In reply to Honda Posts First Half-Year Operating Loss In 11 Years
We expect Senators Bob Corker and Richard Shelby to berate Honda for being a failure of a company, incapable of building innovative products that Americans want to buy and lagging behind their foreign competitors. Obviously they're not worthy of anyone's sympathy.

When I saw the headline, I hit the jump to post essentially that. Damn you, Ben, for taking all of the easy shots away from us lowly commenters.
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RLJ676-LS3 Commuter Car - for the environment
12/17/08

In reply to Honda Posts First Half-Year Operating Loss In 11 Years
Wait a second...how is this possible?

Only the Big 3 have any problems, and only because their mgmt is inept, and the UAW overpaid, and their cars shitty......How on earth could the "Jesus-nese" companies be in trouble?
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scroggzilla raids again
12/17/08

@rlj676-new job, same problems: "How on earth could the "Jesus-nese" companies be in trouble?"

Because Richard Shelby and Mitch McConnell killed Santa Claus and Baby Jesus-nese
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tekamul
12/17/08

@rlj676-new job, same problems: The difference your sarcasm is over looking is

GM : $50B+ loss in last 3 years

Honda : $1.4B loss in 2H 2008, $2B profit in 1H 2008

Don't let this blind you to the fact the Big-3 have Big Problems. See the forest for the trees.
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Ben Wojdyla
12/17/08

@tekamul: They also take care of of their workers healthcare where most of Honda's workforce gets theirs socialism style.
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six
12/17/08

@Ben Wojdyla: If the government bails out the Big 3-ish won't we be paying for workers' healthcare too? And golden parachutes? And crappy vehicles? And and and and?
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SlowMo (actually, there's no E on my R)
12/17/08

@Ben Wojdyla: I've been saying all along that the best bailout the govt could give the not so big three would be some kind of universal health care. Call it socialist, whatever, but it is no more socialist than having all of this public rescue of private companies. And in the end, more people benefit by having healthcare, not just the not-so-big 3.
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RLJ676-LS3 Commuter Car - for the environment
12/17/08

@six:

No, as you appearantly don't understand a LOAN, and the fact you are paying for absolutely nothing. You are actually making a return, as it is an investment.
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elwood
12/17/08

@rlj676-new job, same problems: It's only a loan if the Big 3 don't default on it.
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RLJ676-LS3 Commuter Car - for the environment
12/17/08

@elwood:

So I guess it really is in our best interest to buy American.

"Make money taxpayers....buy American?"
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danio3834
12/17/08

@rlj676-new job, same problems: Some people don't want to understand.

A good example is what our Canadian Federal Government did a few months ago with Ford. They have FoMoCoCa an 80million dollar loan for their operations. The terms of the loan are 3% a year over 6 years.

Ford is re-openeing a Windsor engine plant as a result of this which will likely employ up to 900 people. Without even looking at Ford paying back that money with interest, or even the wages being spent in the economy, look at the income tax revenue;

With an avg salary of 60k cdn a year = 15k of income tax per employee per year. 15k x 900 = 13.5 million per year.

13.5 x 6 years = 81 million in income tax revenue alone before Ford has even paid back a dime.
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Saboth
12/17/08

@rlj676-new job, same problems:

Nah, it's my best interest to buy a car that lasts long, looks good and I don't have to use vacation days to drop off for recalls and fire hazards.
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Jim Topoleski
12/17/08

@Saboth: Funny my award winning Aura has yet to get a recall since I got it. My wife's "award" winning Honda FIT has had 2.
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MushyHeirloom
12/17/08

@SlowMo: Amen!
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MushyHeirloom
12/17/08

@Jim Topoleski: Hell, the Aura was the beta version of the Malibu! Imagine that!
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Das ASHloch (achtundsiebzig)
12/17/08

In reply to Honda Posts First Half-Year Operating Loss In 11 Years
We expect Senators Bob Corker and Richard Shelby to berate Honda for being a failure of a company, incapable of building innovative products that Americans want to buy and lagging behind their foreign competitors. Obviously they're not worthy of anyone's sympathy

As trolltastic as that is, it still made me laugh.
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layabout
12/17/08

In reply to Honda Posts First Half-Year Operating Loss In 11 Years
I have more sympathy for some of the car makers that are really in the shit.Honda aren't in any danger of going under,they've been clever by cutting unnecessary costs.
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Jim Topoleski
12/17/08

@layabout met the real Santa: Oh and that pesky not having to pay healthcare in their home country... Oh and that Japanese bailout. Oh and lets not forget the tax breaks the south gave them

Honda is sitting high because they are getting MAJOR breaks along with good management, Lets not pretend THAT isnt happening here.
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Mr.choppers - Delenda Carthago Est
12/17/08

@Jim Topoleski: Again: health insurance is paid for by taxes, which are in turn paid for by individuals and companies alike.

US business have always been strongly opposed to nationalized healthcare, until now that they realize how expensive it is. But they made their own beds. Fuck all of them, fuck them for blocking emissions legislation, for keeping gas prices artificially low, for keeping the US a closed market, for hindering any kind of legislation that could have forced them off their asses and into making actually competitive products.
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Jim Topoleski
12/17/08

@mr.chophoppers: Only CERTAIN US businesses have been opposed to it, those who benefit from having privatized healthcare. You ask ANY business who has no connection to the healthcare field what they think and you can bet your ASS they will tell you go national healthcare.

But I find it hilarious you say fuck them for blocking emissions legislation when the Japanese and European makers have done the SAME damn thing. And gas prices have never been artificially low in the US, we just dont tax it to death like other countries do. And we have NEVER been a closed market, ever, not since the formation of this damn country. Our open market was in part the reason FOR the revolution. And I would take a more efficient and cheaper overall Malibu or Aura over a POS Accord any day.

SOOOO what exactly where you trying to say? Because you basically said nothing but your ignorance.
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Stoatmaster
12/17/08

@Jim Topoleski:

I don't mean to sound sound confrontational, but you are talking utter balderdash. The US was built on protectionism; here's a short primer: [en.wikipedia.org]

Personally, I'm still cross about you blocking Concorde, but that's another story.
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RLJ676-LS3 Commuter Car - for the environment
12/17/08

@Stoatmaster:

We are talking AUTO INDUSTRY protectionism, so you're "wikipedia evidence" is crap. Just explain to us all how open the rest of the world's markets are, compared to ours. We have an OPEN MARKET for autos.
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Stoatmaster
12/17/08

@rlj676-new job, same problems:

I take your point about auto-industry v industry protectionism.

But you did put your statement in the context of the revolution, which being pre-industrial, made me think you were taking the wider view.

In light of which, the posted link wasn't 'crap'.

Anyway, do you think the US auto-industry will manage to remain non-protectionist?
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Jim Topoleski
12/17/08

@Stoatmaster: Take a look at your dates. The US was FOUNDED on Free Trade, it perhaps didnt stay that was for all industry but the protectionism your posting about didnt happen till over 50 years AFTER our revolution.
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Stoatmaster
12/17/08

@Jim Topoleski:

Bloody colonials.
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