Tuesday, December 23, 2008

Toyota Expects Its First Loss Since Before WWII

On Monday, Toyota announced that it expects an operating loss of $1.7 billion in its auto business for the fiscal year ending March 31, 2009. If so, the loss would be the company’s first since 1938. In a sign of how fast the economy has deteriorated, last year Toyota reported $28 billion in operating profit earned. [NY Times: Toyota Expects Its First Loss in 70 Years]

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