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First Operating Loss for Toyota in 71 Years
And the collapse continues as Toyota reports its first operational loss in 71 years. This is big news since it was assumed that the Big 3 were the big losers and that foreign car companies were largely unscathed. This view is of course naive and does not take into account interconnectivity that global economy has matured into. If America is descending into the abyss so will Japan and the other G-8 nations.
I am not suggesting that Toyota is going under the way the Big 3 are, but their pain is indicative of the size and scope of the worldwide financial collapse.
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