Toyota+Honda stopped production in Japan

[Deity]

I didn't know they had been stuck for 20 years, however I did know that their economy had shrunk in 2008-2009 by 1 or 2% (which you know is a pretty large percentage point). 200% of their GDP is still a vast percentage to be in debt. Astronomical, I don't know how they allowed that to happen. But I guess sometimes one can't see the forest from the trees.

Very true, all big economic countries will be eager to help. The nations that supply oil and steel to Japan will prosper greatly because of this disaster.

[Dreamacre]

After reading this thread, some of you need to go back to school.

[coupe69]

Originally Posted by Dreamacre

I fear the death toll may rival that of the Boxing Day Tsunami of 2004 at 250,000. There is one town alone that is missing 9,500 people.

The pictures are even hard to imagine. The destruction is very similiar to 65 years ago.

Here is a link to some sobering pictures.

http://www.dailymail.co.uk/news/arti...d-missing.html

wow, the pics are just terrifying.

I'm chinese and I get a lot of coworkers asking me if my family is ok. I respond with yes, are yours ok? Their response..I'm not from japan. Me..well, i'm not either you idiot.

[Dreamacre]

and it only gets worse.

Last night, they had 28 degree temps and Snow.

[mugenmaster]

its estimated like $100billion to restore japan back to pre-tsunami. where r they gonna get that money??

[Dreamacre]

Originally Posted by mugenmaster

its estimated like $100billion to restore japan back to pre-tsunami. where r they gonna get that money??

At some point, we might be better off doing "Bartering", where we do work for free in return for goods and services.

All countries are putting too much emphasis on money and everyone is broke.
Should something bad happen to China, then everyone will be in the same boat and we will have to learn to work together, again.

[Deity]

Originally Posted by mugenmaster

its estimated like $100billion to restore japan back to pre-tsunami. where r they gonna get that money??

For a economy as large as Japans, they will receive much foreign aid.

Just curious, where did you get the 100 billion dollar estimate?

[mugenmaster]

i read it on the online news sites and newspapers...different sources quote anywhere between 100-156 billion if i recall correctly. im sure donations for japan has increased but last time i read, the world is being really stingy right now and they are comparing donations with haiti and japan. i rly hope japan stays strong and bounces back from this! people underestimate the will of man in trying circumstances.

[reframmellator]

I'm chinese and I get a lot of coworkers asking me if my family is ok. I respond with yes, are yours ok? Their response..I'm not from japan. Me..well, i'm not either you idiot.

Love it, but don't feel alone. Out of state people see my Empire State plates and just assume I'm from NYC. In your case, they're trying to show concern. In my case, they usuallly pre-emptively cut me off and flip me The Bird just on general principles.

[reframmellator]

BTW, the latest estimate I saw said $125-200 billion in property damage. That's 1-1.5 times the accepted figure for the 1995 Kobe earthquake. Kobe is the most expensive quake to date. Those are "generally accepted" values for rebuilding. But remember - it's still early.

Japan has a $5 trillion GDP and a $10 trillion national debt. This earthquake is likely to lower GDP and raise debt. Many of us here are freaked because we have a GDP of roughly $15 trillion and a national debt of $14+ trillion. So you can see the problem Japan has. Interesting thing about Japan - they are in hock up to their hairline and yet they finance a lot of the world 's debt. For instance, in January they held $886 billion, or about 6% of our debt. They could recall enough yen from our Treasurys to rebuild their country, but that would be likely to raise interest rates, which could cripple the US and world economies and possibly push Japan and the PIIGS (Portugal, Ireland, Italy, Greece, Spain) over the edge. It's kind of an economic Rubik's cube, and if it's not done carefully, everyone will lose. That's why I think you'll see very high levels of international cooperation to work through this nightmare.

Or someone's central bank will pursue hyperinflationary policies to devalue the debt in a matter of months.

[Deity]

I'm assuming many insurance companies will be going bankrupt. Won't be able to pay off the $125-200 billion in property damages. Even the large insurance companies.

I'm not too knowledgeable in treasury holdings, I know that the Saudis have nearly the same amount, however should a country recall their money, couldn't the US freeze their accounts to prevent such devastating side effects?

[Ilovemy06VtecV6]

Dangnit, there goes my chances of scoring a J Vin 2012 Scion TC with 18 inchers and 6 speed AT !! But thanks for potentially designing my 2006 Accord potentially dead Japanese Engineers!!!

[princess]

Update # 5: Earthquake Impact on Honda Operations
March 18 2011

Media Response (new information in this update appears in boldface type)

March 18, 2011 – 6:00 p.m. PDT

Honda would like to express its deepest sympathy and condolences to the victims of the earthquake in Japan, and our sincere hopes for the earliest possible relief and recovery of the affected areas.

Japan

Damage was widespread in the Tochigi area, where Honda has a number of operations. Honda Motor Co., Ltd. has confirmed the fatality of a Honda R&D associate at the Tochigi R&D Center, when a wall collapsed in a cafeteria. The associate was male, 43 years old.

In addition, 17 Honda associates were injured in the Tochigi area from collapsing ceilings and other damage during the earthquake (initial reports put the number of injured at 30).

Japan Operations

* The suspension of automobile production, which began March 14, was extended today for an additional three days-- through March 23 -- at the following locations: Sayama Plant at Saitama Factory (Sayama, Saitama); Suzuka Factory (Suzuka, Mie).
* The same March 23 timing applies at the Kumamoto Factory (Ozu-machi, Kikuchi-gun, Kumamoto), where motorcycles are produced.
* There is a possibility that we could begin operations partially on some lines at the non-finished unit level before March 23 at three locations: Hamamatsu Factory (Hamamatsu, Shizuoka); Ogawa Plant (Ogawa-machi, Hiki-gun Saitama); and Tochigi Factory (Moka, Tochigi). We are still in the process of determining details about when production can be resumed at these sites.
* Honda is cooperating with electricity conservation efforts and rolling blackout measures, prioritizing the relief and recovery of affected areas. Our decision to resume production could be affected by the needs of Japanese society as a whole.
* Honda has made contact with all Tier 1 suppliers in Japan and is collecting information from them regarding the status of their operations.

Aid

With the hope to contribute to the earliest possible relief and recovery of affected areas, Honda will provide the following aid:

* From Honda in Japan, 300 million yen (approximately $3.7 million) toward the relief and recovery effort
* A total of 1,000 generators (gasoline-powered and home-use gas canister-powered), along with 5,000 gas canisters. Honda also will dispatch its staff to explain the use of this equipment.
* The Honda family of companies in North America will establish special matching gift programs for their associates for donations to the Red Cross to aid the victims of the earthquake and tsunami in Japan. Donations from associates will be matched on a dollar-for-dollar basis, with no personal or corporate donation limit. Honda employs more than 29, 000 associates in North America.
* Many Honda dealers have reached out to express their heartfelt concern and support regarding relief and recovery efforts in Japan. American Honda Motor Co., Inc has established a special website to accept donations to the Red Cross from its automotive, motorcycle and power equipment dealers who wish to contribute in this way.

North American Operations

Honda has confirmed the well-being of all Honda associates on assignment in Japan from North America.

On March 17, certain U.S. news reports inaccurately suggested that Japan-based production of vehicles intended for sale in the United States would be suspended until May. This is not what we communicated. Honda has announced a suspension of production only through March 23.

There is no immediate impact on Honda's operations in North America. More than 80% of Honda and Acura products sold in the U.S. are produced in North America, and the vast majority of automotive parts for Honda automobiles manufactured in North America are sourced in the region.

Honda's U.S. and Canadian and Mexico Honda plants are continuing normal output of finished vehicles. In addition, we are continuing to monitor the long-term impact of the events in Japan on Honda auto production in North America because some auto parts are supplied from Japan.

The following vehicles we build in North America are supported primarily by our base of 600-plus North American first-tier suppliers:

Marysville, Ohio Honda Accord, Honda Accord Coupe, Acura TL, Acura RDX

East Liberty, Ohio Honda CR-V, Honda Element, Honda Accord Crosstour

Greensburg, Ind. Honda Civic Sedan, Honda Civic GX natural gas

Lincoln, Alabama Honda Odyssey, Honda Pilot, Honda Ridgeline

Alliston, Ontario Honda Civic (Sedan, Coupe, Si) Acura MDX, Acura ZDX, Acura CSX (The CSX is sold only in Canada)

El Salto, Mexico Honda CR-V

We currently have adequate inventory of products supplied from Japan.

Honda Fit, Insight, CR-Z, Civic Hybrid, Acura TSX and Acura RL are produced in Japan for the North American market. Honda produces a small percentage of CR-Vs in Japan for the U.S. as well.

Honda's operations in North America and globally will do everything they can to support the recovery of Honda's operations in Japan.

[Yukfoo]

The Tsunami is Obama's fault. Well at least that's what they were saying where I work.

[Deity]

Originally Posted by Yukfoo

The Tsunami is Obama's fault. Well at least that's what they were saying where I work.

You work at Fox?