Toyota Hijacked By Financial Pirates

Jim Press is a very decent person from what I have seen over the years. He was also the first non-Japanese executive to join Toyota's board. I think it's interesting that Press is blaming financial executives within Toyota for its demise. I think it's interesting because we wrote the exact same thing about Ford and GM years ago. And wrote many similar comments about Toyota's global push. Then the auto world basically collapsed. It hasn't come back either. Anywhere. Well, except for China. There are so many stories coming out of China that we don't really know what reality is. For years have even been reports the communist government is overproducing millions of cars annually - something we highlighted a few years ago. It doesn't really matter anyway. That party is over.

Financial idiots have impacted the American economy in countless ways which aren't being discussed today. This is just one more example.

Link here.