Japanese Automakers And Unions Threaten To Leave If Yen Value Isn't Adjusted

In an (especially for Japanese tastes) strongly worded joint statement, Toshiyuki Shiga. Chairman of Japan Automobile Manufacturers Association, and Koichiro Nishihara, President of the Confederation of Japan Automobile Workers’ Unions threw down the gauntlet to the Japanese government. Executive summary: “We are sick as hell of the high yen and we can’t take it anymore. Do something, or kiss those jobs sayonara.”

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Agent009 - 6/9/2011 12:28:58 PM

+3 Boost

After decades of protectionist Government manipulation of the Yen. The autoworkers and automaker FINALLY get a dose of reality and don't like it.

Reality has sunk in.

abcd - 6/9/2011 2:03:03 PM

+5 Boost

Manipulation? There isn't probably one country in the world that doesn't somehow intervene in a currency. And what quantitive easing is?

BTW: Japanese yen is forth most overvalued currency relative to dollar in the world(link below):
http://blogs.fxstreet.com/forexhedge/files/2010/09/moc.gif

uaw_lax - 6/10/2011 11:44:07 AM

-2 Boost

Tell me 009 why did you add Unions in your tittle?

Agent009 - 6/10/2011 1:21:45 PM

+5 Boost

Confederation of Japan Automobile Workers’ Unions? That might be the first clue..

uaw_lax - 6/10/2011 11:46:04 AM

+1 Boost

Name ANY major car manufacture that dose not have an operational footprint in other countries?

uaw_lax - 6/10/2011 11:47:22 AM

-2 Boost

Now that the playing field is even more and more automakers have made cars just as good as Japan.

vabeachs2k2003 - 6/26/2011 12:42:40 AM

+1 Boost

If I am not mistaken Chrysler is using an ancient platform dumped on them from the Benz-Chrylser merger days...the W210 Mercedes-Benz E-Class of 1996 to 2002. This platform powers the Chrysler 300 and Dodge Charger/Challenger rear drive sedans. Had the privlege, if you want to call it that, of a Dodge Charger V6 rental the other day. Car felt horrible and just wrong from every dynamic driving persepctive. Has any exec from the US car companies driven a G37/Lexus IS/BMW 3 series recently? I would love to buy an American car one day but until they build something worth driving, forget about it.