US govt. would likely support GM: Toyota chief

[DMC]

http://finance.myway.com/ht/nw/bus/2...arm037335.html

TOKYO (Reuters) - The U.S. government would probably step in to support General Motors Corp. (GM) if the world's No.1 auto maker fell into further difficulty, Hiroshi Okuda, chairman of Toyota Motor Corp. , said on Tuesday.

"GM is a U.S. industry icon," Okuda said. "The U.S. government won't leave it if it tumbles into real difficulty," said Okuda, whose company is widely expected to overtake GM as the world's biggest auto maker in the next year or two.

"The company is in a tough condition," said Okuda, speaking as head of the Japan Business Federation, Japan's biggest lobby.

Running through a list of GM's problems, Okuda noted that its market share has been declining and that it had been so far unsuccessful in its attempts to sell a financial unit.

He also cited a lack of appealing new models.

[mrgto]

Won't happen. He wasn't at the autoshow obviously.

[01cavalier]

I would hope GM can turn around on it's own and do well, unline the Japanese carmakers depending on the currency manipulation that makes them profitable.

[member12]

I don't want government bailout. I want government crackdown on currency maniupulation.

The US should be able to give a level playing field.

If they did give GM a major contract or something to help them in the form of a bailout, they would just be postponing problems for another twenty years. GM needs tough times every now and then to belt tighten and become a healthier company.

[AdmiralViscen]

Toyota comes from a nation where the companies are an extension of the nation itself. Of course they'd expect GM to get big help from its government, because Toyota took advantage of that sort of thing to get where it is today.

Too bad Bush has already come out and said he's not helping GM.

[FearTheDodo]

Let's not forget GM pays roughly $1400 dollars per car to the worker for healthcare costs while Honda and Toyota pay less than $500. Plus, in my opinion, GM's models are more appealing than toyotas, I find thier styling cliche and the new Camry looks like a bloated whale.