I guess you can believe what you want, but I am willing to wager on it. Say $5 that Mitsu doesn't fold?

You sound just like the guy from friday that said that Mitsu Industries was a small company and couldn't bail out Mitsu Motors. Eckrodt was forced out because he was with DCAG. They are gone, so he is gone.

You really have no clue as to how large the Mitsu conglomerate is. If you counted it as one company (which it basically is) it would be BY FAR the largest company in Japan. Seriously, do you know anything about the Japanese zabatsu (probably spelled that wrong)?

-The Anti-Chicken-Little

 

Oh yes, they did have higher sales with the defaulted loans, but in essence, didn't sell cars, they gave them away.

The line-up does matter because it provides the bottom line for a corporation to survive.

Yes, the Evo is made in a different plant, but capacity is limited. Even with the pre-financial revelation of woe, there was a delay for the MR to the US of 4-5mnths after the '04 GSR. Why?

Why would a company with at least a head on its shoulders say, here are '04s to their dealers, but the car everyone wants is coming out 4-5mnths? To see how savy their dealers can be?

You don't proper f#ck your dealers unless you don't have the car ready for production. Which they don't. They do have RIGHT-HAND drive MRs being produced for Japan, England and the rest of the left-hand shifting world.

But they haven't tooled to make LEFT-HAND drive MRs. Which costs money... more money then they have.

And if the Evo is so profitable, why did it take so long to bring it into the states? Because the cost of making the vehicle LEFT-HAND drive outweighed the potential profits. Meaning, they make squat per car...

And why, when every auto maker is about to got under, or have financial strife, the first cars to get the axe are their 'halo' cars?

Remeber, the Z? the RX7? Nissan only reintroduced the Z when it was a profitable company (but they couldn't lose with all that French government funding) and could cut manufacturing cost.

By and by, the Z and G coupe have been relative hits but not big money makers.

Peace,
g

 

If you look at my previous posts, I noted that Mitsubishi conglomerate is the largest company in Japan.

But, size or not, they don't have $6-8billion hanging around. And they are losing money. Plus, don't forget, trucks is getting sued now which I'm sure they're loving.

Must suck to have a shared name with two companies that have lost respect in their home market. The Japanese don't like companies that make unreliable products, lie about it, and then get people killed.

No need to get personal... I've spent alot of time in Japan and Asia and have numerous friends who live there. The agreement in Japan is autos may not be around.

And I don't bet... but I'm into friendly wagers .

g

 

Its cool, a repost never killed anyone. I'm just glad to see some sort of direction planned for Mitsu.

 

This has a simple solution.. tell bush Mitsu has oil reserves they've been hiding since WWII. He'll tell us what to do instead of listening to who he serves, the US citizens, and invade, we can then force them to take on our beliefs and government corruption style..

The Pentagons operating budget last year was 480 Billion.. They wouldn't even notice the change it woudl take to help out Mitsu.. But it would be a much holier thing to spend 40 Billion, invade, and force them to do our bidding or have them hate us and ruin their country... The point here is just get bush involved, he'll spend money to, ahem, fix things faster than he can promise to balance the budget...

 

Hey, all governments are corrupt... just nice when you can agree with how to be corrupt with them .

g

 

Doing a little more research, it appears that some of MMC's "New found profits" was a bit of smoke and mirrors.

here's the Annual 2002 FY Report to the Share holders

http://www.mitsubishi-motors.co.jp/i...002e/pdf/e.pdf

While yes, US sales where up, they neglated to tell about the SHARP decrease in Domestic sales.

And going back, it appears they have been hemroging money for a while now.

And with only 6,500 to 8,000 Evo's produced a year, that car alone can not carry the company. They need a vehicle that will sell about 30,000 per year.

 

Thanks for bolstering what I've already said...

It's nice to know that i'm not the only one trying to convey reason, the historical and present financial truth about .

Although, I wish I was wrong...

Cheers,
g

 

More news:

Chief Executive of Mitsubishi Motors Resigns
By THE ASSOCIATED PRESS


Filed at 7:27 a.m. ET
TOKYO (AP) -- Rolf Eckrodt resigned Monday as chief executive and president of Mitsubishi Motors Corp., just days after key stakeholder DaimlerChrysler AG's announcement it won't offer more money to finance the struggling Japanese company's turnaround.
Mitsubishi Motors said in a statement that a replacement will be chosen soon, but Keiichiro Hashimoto, chief financial officer, will be acting president until then.
The Tokyo-based automaker, which is burdened with a multibillion dollar debt, plunging car sales and a spate of recalls, was dealt a serious blow by the announcement last Thursday by the U.S.-German automaker that it would not provide a multibillion dollar cash infusion as had been expected.
The German-born Eckrodt, formerly president of Adtranz, the rail systems unit of DaimlerChrysler, was sent in by DaimlerChrysler in 2001 to lead a turnaround at Mitsubishi Motors.
He had recently hinted he would step down. But expectations had been for him to make way for leadership that will carry out a new revival plan with extra cash from DaimlerChrysler, which owns 37 percent of Mitsubishi Motors.
Eckrodt, 61, will retire from a 38-year career in the auto business although he will provide support for Mitsubishi Motors at the automaker's request, the company statement said.
Eckrodt said he was stepping down because of DaimlerChrysler's decision against financial support and the subsequent decision by the Mitsubishi group companies to hammer out a different revival plan.
Mitsubishi Heavy Industries owns 15 percent of the automaker, trading company Mitsubishi Corp. a 5 percent stake, and Bank of Tokyo-Mitsubishi 3 percent.
Eckrodt said the Mitsubishi team under the leadership of chairman Yoichiro Okazaki will be working out a plan within a month.
DaimlerChrysler has not said what it will do with its 37 percent stake in Mitsubishi Motors.
DaimlerChrysler's chief financial officer Manfred Gentz has said the two automakers' joint projects in Chrysler, Smart and other passenger cars will continue.
But analysts say Mitsubishi Motors' lagging sales are likely to dip even further now and its chances for recovery are precarious because Mitsubishi companies are unlikely to have enough cash to fund a revival plan.
In Tokyo trading Friday, Mitsubishi Motors shares plunged 25 percent to the day's allowed limit. The issue fell further Monday, sinking 3.32 percent to 233 yen ($2.14). The other shareholders, including Mitsubishi Tokyo Financial Group and Mitsubishi Heavy, also finished down Monday on the Tokyo Stock Exchange.
Mitsubishi Motors' image never recovered after it acknowledged four years ago that it had systematically hidden auto defects for decades and announced a massive recall.
It embarked on a revival plan and returned to profitability in fiscal 2002, but the following year suffered massive losses from buyers in North America with bad credit. And the recalls have continued despite DaimlerChrysler's efforts to upgrade quality.
Mitsubishi Motors is forecasting a 72 billion yen ($661 million) loss for the fiscal year ended March 31, a reversal from 37 billion yen in profit the previous year. Its debts total 1.14 trillion yen ($10 billion).
Mitsubishi Motors spun off its truck division last year, and analysts say Mitsubishi Fuso Truck & Bus Corp. remains a key part of DaimlerChrysler's ambitions to expand its truck business in Asia's growing market.

 

Already had the link up... as well as highlighted the key point why Eckrodt bailed... loss of financial backing from D-C.

And if Mtisu Corp, Mitsu Holdings and Bank of Tokyo were so well to do with billions to invest, why did D-C have to save ... Yes, they had a global plan at the time, but more importantly they had an open means to implement it by having a historic chance to have controling stake in Japan's 4th largest auto maker.

If only they could see throught Mitsu's smoke screen.

g

 

thats' what I get for just skimming.....

 

WHAAT??!!

Reaching a little here with this one, aren't you?

 

It's all good.

But I get M3lachsilber's point... no winners in discussions about religion and politics. Just bruised egos.

g

 

Fine, loser has to streak naked across the forums...

 

I think loser should have to go drag racing in drag with camers rolling and pics to be shown at the top of every page on evom.
What kind of 60ft would ya get in heels.

Muahahaha!

This thread is so full of speculation and other comical things, to remeedy this thread, this wager should at least be entertaining and humiliating at the same time.