Honda backs U.S. loans, says it needs Detroit 3

Honda has endorsed the American government's decision to provide the Detroit 3 with a $25 billion loan, describing the aid package as “totally proper” and important for the development of more fuel-efficient models.

According to the carmaker’s CEO Takeo Fukui, General Motors, Ford and Chrysler were all too slow to respond to the current fuel price crisis, and this is the reason why they are in such dire financial positions.
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kpaxx - 10/20/2008 9:26:50 AM

+1 Boost

OR maybe it is because they don't get government subsidies like all the other manufacturers in the world!
Honda is scared of trading restrictions placed on them because of this!

91z4me - 10/20/2008 10:00:03 AM

+4 Boost

Honda recognizes how bad the economy could get if 1 or all of the big 3 fall. Despite what you think of the companies or their products nobody in the US can be dumb enough to think that these 3 big companies failing could be good for the supplier base or the economy in general.

dlin - 10/20/2008 3:37:54 PM

-1 Boost

I thought JAPAN is a US colony, so why not get our government to do something about their subsidies if you believe that's the (only?) reason?

dlin - 10/20/2008 3:41:25 PM

+1 Boost

You cannot nuke somewhere that close to CHINA and RUSSIA nowadays or you'll get MEXICO and CUBA nuked too, which is getting too close to me.

CANADA is fine..... just kidding.

holmstar - 10/20/2008 3:33:03 PM

0 Boost

toyota knows that if the big 3 fail, then many of the parts suppliers (the same parts suppliers that toyota uses in many cases) will go out of business as well, which would be bad for toyota.

holmstar - 10/20/2008 3:34:44 PM

0 Boost

Oops, meant Honda. But the same applies to toyota.

dlin - 10/20/2008 3:35:19 PM

-2 Boost

I'll say get the Jap to bail out these big 3 and rebadge their produts under the big 3.

That's the only way for redemption.

woood - 10/21/2008 12:06:48 AM

+1 Boost

Lets hope the 25 billion from the government will be used "PROPERLY". Must develop alternative fuel cars in conjunction with staying afloat in the meantime.