Another Mitsubishi Bailout?
The New York Times > Business > Decline in Sales Sends Mitsubishi Motors on a Search for Financing
A look into Japan's approach to company bailouts — similar to what we've seen here with airlines and some manufacturers. Is it too costly to society (or the politicians) to see a high profile company fail? Why is any company “entitled” to stay in business if they are losing money?
An interesting quote was in a similar WSJ article:
Mitsubishi Motors never squeezed its suppliers for cost savings in the manner of Toyota Motor Corp., whose ruthless efficiency and reputation for quality have made it the world's most profitable auto maker. Toyota posted net income of more than $11 billion in the year ended March 31, 2004.
People familiar with the matter say Toyota was approached last year about taking a significant role in rebuilding Mitsubishi Motors. Toyota passed on the invitation, although it did agree to hire a few hundred Mitsubishi employees.
Are the terms “squeezed” and “ruthless” a bit harsh to use for Toyota?
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