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Detroit's Fall Gives Power to Rival Dixie

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"When the textile industry went down in the South and we were accused of being behind the times, we didn't ask for a bailout — we just had to reinvent ourselves," says John Jeter,..... "So southerners feel it takes some audacity for northern businessmen who make millions to come holding out beggar's bowls for billions."

http://www.time.com/time/business/article/0,8599,1868072,00.html

*updated*

Not much to argue about, but its an interesting read. I really like that quote, its very true in my opinion.

Also talks about how the factories are able to change easily to market demands, which is crucial in the market today.

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Posted · Report post

Where is the article?

Anyway

Toyota expects first loss in 50+ years

About 30 minutes after the market closed in Tokyo, Toyota said it expected to lose approximately $1.5 billion to $1.7 billion this fiscal year. Toyota reports earnings on a fiscal calendar beginning in April.

This would be Toyota's first operating loss since 1950, Toyota spokesman Steve Curtis said.

Toyota losing money is a shock, just like GM losing money would have been 40 years ago.

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