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Old 03-10-2009, 10:30 AM   #1
rsholland
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Default Subaru asks for loan

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Last edited by rsholland; 03-10-2009 at 12:25 PM.
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Old 03-10-2009, 10:41 AM   #2
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Looks more like Fuji is having trouble. This happened a lot at my last job where my business unit was a part of a larger business which was in turn part of GE. We always out performed the rest of the business and had to support some of the smaller units that took a loss.
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Old 03-10-2009, 10:48 AM   #3
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Relatively speaking, $102M in loans looks quite good compared to most other auto companies. A loss of only $233M also puts them well beyond what a lot of other auto companies are predicting (or have already lost).
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Old 03-10-2009, 10:53 AM   #4
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They're more afraid of future trouble than they are in trouble right now by the way the article explains it. Mitsubishi should be showing signs of cracking too.
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Old 03-10-2009, 11:05 AM   #5
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You have to understand what these loans do.. it doesn't mean a company is in trouble... all companies use borrowed money to finance their business on a regular basis.. sources of credit are harder to find these days, so govts are stepping in. I think even BMW is applying. Doesn't mean the business is in trouble, it means that the credit market is.
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Old 03-10-2009, 11:13 AM   #6
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Originally Posted by SOA Blog View Post
You have to understand what these loans do.. it doesn't mean a company is in trouble... all companies use borrowed money to finance their business on a regular basis.. sources of credit are harder to find these days, so govts are stepping in. I think even BMW is applying. Doesn't mean the business is in trouble, it means that the credit market is.
Very well put.

Everyone of these major companies ask for periodic loans. This should not be confused with a bailout.
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Old 03-10-2009, 11:52 AM   #7
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Relatively speaking, $102M in loans looks quite good compared to most other auto companies. A loss of only $233M also puts them well beyond what a lot of other auto companies are predicting (or have already lost).
Yes, in the big scheme of things, $233 million is quite good. GM loses that is what, a week? (1+ billion a month right?) I realize Subaru is a smaller entity, but it's still respectable.

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You have to understand what these loans do.. it doesn't mean a company is in trouble... all companies use borrowed money to finance their business on a regular basis.. sources of credit are harder to find these days, so govts are stepping in. I think even BMW is applying. Doesn't mean the business is in trouble, it means that the credit market is.
This. Maybe they are going to use this money to develop a true DSG?! We can hope can't we? Actually my guess is that with the recent growth they've seen, they might be also looking to expand their operations.
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Old 03-10-2009, 12:00 PM   #8
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Originally Posted by SOA Blog View Post
You have to understand what these loans do.. it doesn't mean a company is in trouble... all companies use borrowed money to finance their business on a regular basis.. sources of credit are harder to find these days, so govts are stepping in. I think even BMW is applying. Doesn't mean the business is in trouble, it means that the credit market is.
Shows how sad it is. Almost everyone individuals and many companies are on the leash of the banking cartel, and can't function once it chokes up.

Wouldn't it be great if households and companies could fund their activities on their own instead of relying on never ending and never decreasing stream of credit?
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Old 03-10-2009, 12:44 PM   #9
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Shows how sad it is. Almost everyone individuals and many companies are on the leash of the banking cartel, and can't function once it chokes up.

Wouldn't it be great if households and companies could fund their activities on their own instead of relying on never ending and never decreasing stream of credit?
On the bright side, Subaru is asking for only a modest amount. GM on the other hand already wants seconds!
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Old 03-10-2009, 05:05 PM   #10
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Wouldn't it be great if households and companies could fund their activities on their own instead of relying on never ending and never decreasing stream of credit?
What do you mean by this? Credit is a necessary evil unfortunately. Buying a house would be impossible for most folks without it. Similarly, most business ventures would not be possible without it.
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Old 03-10-2009, 05:08 PM   #11
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What do you mean by this? Credit is a necessary evil unfortunately. Buying a house would be impossible for most folks without it. Similarly, most business ventures would not be possible without it.
No, it is not - if the currency would not be constantly devalued.
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Old 03-10-2009, 05:13 PM   #12
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I guess I'm still confused as to what you're getting at. Credit is absolutely necessary. It is a powerful tool if used with discretion.
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Old 03-10-2009, 05:17 PM   #13
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I guess I'm still confused as to what you're getting at. Credit is absolutely necessary. It is a powerful tool if used with discretion.
It's certainly powerful tool, that's the point... and, no it's not absolutely necessary.
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Old 03-10-2009, 05:22 PM   #14
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I agree that credit is unavoidable when large amounts of capital are needed, as they are with an automotive company. The analogy of buying a house is a good one I think - hardly anyone would buy a house if they had to save up $400k first so that they could pay it in one lump sum.

FHI might as well apply for the loans - they need loans anyway, and the interest on these is likely to be much lower than what they would get from a bank (IF they could get loans from a bank I should say...).
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Old 03-10-2009, 05:28 PM   #15
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^ That's funny. You missing the fact if credit was not available - or at least not as easily available, the houses would not cost $400k.....

People have ingrained affinity to debt slavery...

Anyway, that's off-topic.
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Old 03-10-2009, 06:12 PM   #16
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^ That's funny. You missing the fact if credit was not available - or at least not as easily available, the houses would not cost $400k.....

People have ingrained affinity to debt slavery...

Anyway, that's off-topic.
I see what you're saying now. Things in life would not be as expensive as they are if we had not extended everyone and their brother massive credit. There would be no market for such expensive things right?

And I totally agree with the statement "People have ingrained affinity to debt slavery..." I pride myself on avoiding any and all debt including credit cards and car payments. Since I don't have a house payment now (renting) its a tremendous amount of freedom.
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Old 03-10-2009, 06:37 PM   #17
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I see what you're saying now. Things in life would not be as expensive as they are if we had not extended everyone and their brother massive credit. There would be no market for such expensive things right?

And I totally agree with the statement "People have ingrained affinity to debt slavery..." I pride myself on avoiding any and all debt including credit cards and car payments. Since I don't have a house payment now (renting) its a tremendous amount of freedom.
Ding! Ding! And in fact your net worth may be higher that of underwater "homeowners" (emphasis on quotes).

Too bad the goverment wants to rip off me and you and reward debt slaves... just enough so they continue on their slave lifes....
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