Chrysler, Ford and GM await the President’s signature on the bill authorizing $25b in low-interest federal loans to retool old factories to produce new fuel misers. And then face an uphill political battle to get the U.S. Department of Energy (DOE) to loosen its loan requirements and give them the goddam money. Meanwhile, a Toyota press release reveals that the transplant’s just landed a share of $15m in DOE grants to “speed the adoption of energy-saving building and facility technologies” at ToMoCo’s U.S. dealerships. “Being named part of this program is a tribute to those dealers with the vision and commitment to develop environmentally sensitive buildings in conjunction with Toyota’s Image II Eco design program,” said Toyota Prez Jim Lentz. “We will continue to work with dealers and the DOE to develop energy efficient facilities and guidelines that will benefit the entire industry.” Talk about rubbing it in… And what’s the bet Toyota gets the money before 2010? TTAC’s investigating.
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Our tax money shouldn’t be spent helping foreign companies. It’s that simple.
@Buick61
our tax dollars shouldn’t be spent supporting broken domestic companies, either. that’s socialism, eh?
Buick61:
Our tax money shouldn’t be spent on propping up failed domestic companies, either.
On the broader issue, taxpayers should not be subsidizing what Toyota and others are already doing? This looks like thinly veiled pork to me. $15m – hmmm.. that’s a 60k salary for 250 teachers for a year. I wonder what we’d get better use out of???
See, Toyota got the first money. It’s not a bailout then huh!
but our tax dollars SHOULD go to support a bunch of BSD Wall Streeters?
Our tax dollars should stay in the US as much as possible. Readers’ Digest, of all publications, has a decent article about how our tax policies encourage companies to outsource. Best explanation I’ve seen.
jkross22: “$15m – hmmm.. that’s a 60k salary for 250 teachers for a year. I wonder what we’d get better use out of???”
Judging by the morons coming out of the education system these days, I’d say Toyota would use the money better.
RF! Thank you so much for this article! It totally just made my day, and my entire week for that matter!! This must be such a big slap across the face for the domestics this morning! There’s always someone reminding them how desperate they really are!
I still think it’s too bad that this money has more or less been okayed for the car companies, but since it has been, Toyota and the others might as well try to chip into it and make ACTUAL use of it.
jkross,
Good point. How about you write your Congressmen about it? If they spent less of their time with BS and more on the core needs, we would all be better off. Then again, maybe they would just screw those up more.
# bloodnok :
@Buick61
our tax dollars shouldn’t be spent supporting broken domestic companies, either. that’s socialism, eh?
No. It’s not
Lending is VERY different than nationalizing… which has already happened with some big banks over there.
Go to Cuba if you want a big cup of that.
So this is what happens when you play the game correctly and not try to make & force your own rules!
jkross22:
Our tax money shouldn’t be spent on propping up failed domestic companies, either.
Couldn’t agree more.
The domestics got themselves into this mess…not the government. Toyota, had the foresight to NOT forget how to build cars people actually want.
Our tax money shouldn’t be spent helping foreign companies. It’s that simple.
Technically, this money isn’t directly assisting Toyota. It’s assisting domestic dealerships of a foreign-owned company. It also happens to be a company that has factories in several states, providing hundreds of American (Canada and Mexico not included) jobs, and supplying mucho local, regional, and federal tax revenue. Imagine the amount of revenues our government has collected as a result of Toyota doing business in this country since they first opened up shop. I don’t see why they can’t have a little bit of that back to help make their local operations more efficient.
pariah,
I agree that given we have a system of the government taking prejudicially with one hand while giving back preferentially with the other, I don’t blame Toyota dealers for playing along.
OTOH, where is my pork?
And, why do we bother sending more money to Washington than they can possibly spend wisely so that they can make us beg for some back? How about we all pledge to vote against everyone of our leaders who fails to stop it? All of them!
lprocter1982 is right. Toyota gave us the Corolla, the MRII, and the MkIV Supra. The schools have given us kids that need to take remedial math and English when they get to college. Maybe Toyota can open some charter schools.
If the government spends or distributes money to any group for the purpose of improving the environment – directly or indirectly – then who cares where that group is from?
So we take the laid off BIG 2.8 workers that are now giving US tax dollars from flipping hamgurgers for 5.00 an hour and give the tax dollars to Toyota. A slap in US workers face.
There is irony and a bit stupidity somewhere in this mess.
I know the government workers don’t give a dam about American Companies or workers.
“Our tax money shouldn’t be spent helping foreign companies.”
The money is being spent improving the energy efficiency of Toyota dealerships, which are in fact not owned by Toyota and which pump a good deal of money into their local economy. In fact, Toyota dealerships are profitable local enterprises which have the capital to expand and remodel while your garden variety 2.8 branded dealer is lucky to keep the lights on. Get rid of all the import brands and the number of people employed by car dealerships in the US would go down dramatically.
Do you know that Shell Oil, BP-Arco-Amaco, Citgo, Nestle, Norelco, Bayer, Libby’s, Carnation, Stouffer’s, Jenny Craig, Gerber and a bunch of other well known brand names are in fact foreign owned companies? The Asian brand names are more obvious, so I haven’t listed those … but few people realize just how much of what they buy in the US is in fact the product of a “foreign” company.
Oh, and by the way. The world’s supply of Viagra and Botox are manufactured in …. Ireland.
“Smiles Aplenty In Viagra Town In Irish Town, Love Is In The Air, But Is Industrial Exhaust To Credit?”
http://www.cbsnews.com/stories/2003/12/23/eveningnews/main590020.shtml