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Old 12-17-2008, 09:38 AM   #1
Hazdaz
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Exclamation We're doomed: Honda Posts First Half-Year Operating Loss In 11 Years

Honda Posts First Half-Year Operating Loss In 11 Years

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If anyone needed proof the Carpocalypse is affecting all the automakers, Honda, the mighty stalwart of profitability, has announced a half-year operating loss of $1.4 billion. It's their first in 11 years.

That half year loss is made up for by a first half year profitability of $2.0 billion dollars, but if there's a stronger sign the market has fallen apart we've yet to see it. Honda CEO Takeo Fukui said "We see no sign of a recovery." Don't know about you folks but when Honda loses money and says things may not recover, we kinda take that as a bad sign.


We expect Senators Bob Corker and Richard Shelby to berate Honda for being a failure of a company, incapable of building innovative products that Americans want to buy and lagging behind their foreign competitors. Obviously they're not worthy of anyone's sympathy.
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Old 12-17-2008, 09:53 AM   #2
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after increasing profitability, and growing for 11 years straight. I don't think Honda is in trouble.

Its just like Las Vegas casinos, who have enjoyed record breaking increases in revenue year over year for a decade. Then suddenly their rooms are 89% full, as opposed to 98% full, and they act like these times are worse than the great depression.

Last edited by plunk10; 12-17-2008 at 10:13 AM. Reason: I'm an idiot
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Old 12-17-2008, 09:57 AM   #3
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I never meant that Honda is in trouble, but rather we - the people - are doomed with the economy the way it is.

And I fully understand what you mean about these companies setting record profits just a few years ago and now *GOSH* they are down 20, 30, 40% and crying bloody-murder. Even 40% off of record levels is still usually damn good.
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Old 12-17-2008, 09:58 AM   #4
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Originally Posted by plunk10 View Post
after increasing profitability, and growing for 11 years straight. I don't think Honda is in trouble.

Its just like Las Vegas casinos, who have enjoyed record breaking increases in revenue year over year for a decade. Then suddenly their rooms are 89% full, as opposed to 98% full, and they act like the great depression was worse.
... it was worse...
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Old 12-17-2008, 10:04 AM   #5
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This helps explain Honda pulling out of F1 and AMA.

I was lucky enough to be in the market for a car during these times. Got my Si for one helluva of deal.
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Old 12-17-2008, 10:12 AM   #6
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... it was worse...
that came out wrong. I meant so say they acted like this is worse than the depression.
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Old 12-17-2008, 10:54 AM   #7
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that came out wrong. I meant so say they acted like this is worse than the depression.
I know what you mean. I heard some talking head on TV say "This is The Great Depression of our time". Really? These are people who obviously have no grasp on what The Great Depression really was. Complete ignorance on a monumental scale.
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Old 12-17-2008, 11:42 AM   #8
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I know what you mean. I heard some talking head on TV say "This is The Great Depression of our time". Really? These are people who obviously have no grasp on what The Great Depression really was. Complete ignorance on a monumental scale.
Yeah, the hyperbole and doomsday speak has been pretty crazy, but I would argue that it's better to be prepared for the worst and have it not come true vs. the opposite happening.

With that being said, I'm off to spend $120 on centercaps I don't really need...

-Mike
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Old 12-17-2008, 11:57 AM   #9
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Stimulate the economy!
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Old 12-17-2008, 12:17 PM   #10
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I know what you mean. I heard some talking head on TV say "This is The Great Depression of our time". Really? These are people who obviously have no grasp on what The Great Depression really was. Complete ignorance on a monumental scale.
But dood, they had downgrade to a PS2, a PS2!!!!!!!!
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Old 12-17-2008, 12:18 PM   #11
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Yeah, the hyperbole and doomsday speak has been pretty crazy, but I would argue that it's better to be prepared for the worst and have it not come true vs. the opposite happening.

With that being said, I'm off to spend $120 on centercaps I don't really need...

-Mike
Pfft, dummy.

I bought more guns.

Just ordered a gorgeous .300 Savage (bolt action, my favourite!)
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Old 12-17-2008, 12:21 PM   #12
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I would say this is the result of tighten credit criteria for getting loans. A lot of Honda's are purchased by first time buyers. People with little credit history are going to find it very hard to get a car right now.
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Old 12-17-2008, 02:51 PM   #13
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All Because Subaru Made The New Sti A Hatchback And Costed 40,000!!!
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Old 12-17-2008, 04:33 PM   #14
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Pfft, dummy.

I bought more guns.

Just ordered a gorgeous .300 Savage (bolt action, my favourite!)
My thought process just now: "Hmm... hondaslayer bought more guns. Hondaslayer... wait a minute, I have a Honda. Let's see what this .300 Savage is. Googling... huh, how about that. Wait a minute, where does this guy live again? OK, whew, nowhere near me."

I'll try harder next time.

-Mike
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Old 12-17-2008, 04:40 PM   #15
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My thought process just now: "Hmm... hondaslayer bought more guns. Hondaslayer... wait a minute, I have a Honda. Let's see what this .300 Savage is. Googling... huh, how about that. Wait a minute, where does this guy live again? OK, whew, nowhere near me."

I'll try harder next time.

-Mike
No need to worry until I pull out the 30-06 Enfield, that makes the Savage look like a pea shooter.
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Old 12-17-2008, 06:07 PM   #16
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Way OT, but the enfield is a great design. I have one chambered in .303 and even though it was designed before the depression, it is a beautiful piece of work. Probably the most accurate rifle I've ever fired too, and surely the most reliable.

Yeah yeah, depression this, depression that. I just feel sorry for people who actually lived through the great depression and have to stomach a bunch of credit ridden materialistic self-proclaimed analyists cry that times are so hard because they might not be able to eat at a restaurant every night of the week. BTW, I'm not aiming this rant at anybody in this thread. Some folks have been hit harder than others, and I'm not talking down on folks who actually have lost their jobs, but I don't think a lot of us have any concept of what living through the great depression was like for most working class people.

The unemployment rate through some of the 1930s was something like 25% and literally tens of thousands of banks had failed. Given, we're in a recession and it's going to take time for so many billions of dollars of bad debt to be worked out, I don't see our economy recovering 5 minutes from now, but I think the doom and gloom of even comparing the current economic downturn to the great depression is laughable.

Last edited by jhargis; 12-17-2008 at 06:14 PM.
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Old 12-17-2008, 10:29 PM   #17
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Honda CEO Takeo Fukui said "We see no sign of a recovery." Don't know about you folks but when Honda loses money and says things may not recover, we kinda take that as a bad sign.
I'm sure this was simply a bad, literal translation from Japanese to English. I'm sure he meant "We see no sign of a recovery YET, AS OF RIGHT NOW." I work in the financial industry. Guess what, I don't see any recovery as of right now either. Maybe, at most, firming up as a bottom is found.

I refuse to believe that a CEO of one of the largest companies has a, chicken little, 'the sky is falling' mentality. This down cycle is no doubt among the worst, but its just that, part of a cycle.

If anything, I welcome it. It just means the weak gets swept aside, and provides new opportunity to those that are ready to grasp it on the upswing. Meh.
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Old 12-17-2008, 11:38 PM   #18
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Stimulate the economy!
I contemplated buying a new STI, but I thought, if I am willing to settle for an ugly car with terrible mileage, I may as well ash-can my POS Ford truck and buy a new 4x4 Tundra to support the domestic economy, so I did remember the Alamo... .
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Old 12-19-2008, 04:39 AM   #19
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With how bad the car companies are doing. What kind of deals have people been able to get on a new Honda?
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Old 12-19-2008, 06:22 AM   #20
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I have to agree with the fact that we are not anywhere near the calibur of the great depression. The media is playing such a big role in what is occuring though but this is imho. With 24 hour news being cramed down our throats we tend to get brain washed into believing certain things, even though the signs stating otherwise are right in our faces.

We can not stop spending. what i tell people at my job is to spend some and save some.
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