I don’t know if $TM is keeping any secrets, but it seems as if the government is raking the company over the coals. Is the stock a buy? $$- The first car I bought was a Toyota Corolla. It was my “go mobile.” I even bought the hatchback (ooh, sexy Muck!) so I could throw my bike in there and take off for the mountains or coast for some cycling. It was extremely reliable and I rarely spent any money to fix the darn thing. Was it the sexiest car on the planet? Did I have race queens lining up in costumes loving me by proxy through my hot car? No.
- Why is the US government after $TM? Is this because Toyota isn’t a union shop? Is this because the US owns General Motors? Is this because this is an election year and politicians are grabbing at straws trying to gain your vote come November?
- I haven’t watched Glenn Beck (not pictured) today (or ever, actually), but I know folks who are big fans and emailing me what Glenn Beck had to say. I don’t know the scope of his words in their entirety, or if I’m reflecting his views correctly, but he seems to think it’s a big government plot to discredit the car company.
GLENN: Isn't congress the owner with the American people of Toyota's two big competitors?
GLENN: So isn't this like the board of directors of General Motors calling Toyota to testify in front of them on television and demanding that they explain why their cars are so bad?
- Yeah, well it’s all priced into the stock, efficient markets and all. So lets look at the Black Box view of the $TM chart!
- I think Toyota will get interesting the closer it gets to $60. If the Congress keeps the pressure on and the overall market is weak, it could get near there. Of course, with employment near 10%, maybe car companies have some room to fall even without recalls. But, I don’t think people who like Toyota’s are suddenly going to go buy an American car.
- Oh, my first car met its demise when somebody drove into my 8-year old car and rendered it completely useless.
- Yes, another race queen picture.