Gadfly Posted December 21, 2008 Report Share Posted December 21, 2008 But still condo prices go up... I am not in the market, but many of the projects are quietly going quiet. I have not seen any work on two major projects in my area for weeks (since the airport closures), you are starting to read articles about the market is stumbling (but only "temporarily" so act now - the articles are written by (clearly desparate) brokers) and I know two Thais in my office who are seriously concerned because they invested in a condo and now the project appears to have flat lined. You know that myth about jai yen cool hearted Thais. Well I heard one side of a telephone conversation by one of my Thai colleagues with the developer's rep that should forever put that myth to rest. I think we are approaching a tipping point. Link to comment Share on other sites More sharing options...
Faustian Posted December 21, 2008 Report Share Posted December 21, 2008 I kind of hope so, everything is seriously bloated here at the moment, an adjustment is due....Bubble bursting...? Link to comment Share on other sites More sharing options...
cavanami Posted December 22, 2008 Author Report Share Posted December 22, 2008 Me thinks the average Thai does not fathom the mess about to descend upon LOS. Just an observation... Link to comment Share on other sites More sharing options...
kamui Posted December 23, 2008 Report Share Posted December 23, 2008 Me thinks the average Thai does not fathom the mess about to descend upon LOS.Just an observation... Absolutely, just have a look at the car makers producing in LOS: The overall picture for the Thai car market still has the same players dominating, with [color:red]Toyota[/color] and Isuzu claiming a combined 65% of the total vehicle market. Isuzu and Toyota also dominate the one ton pickup market with more than 72% of the pickup market between them. The rest is divided up between Mitsubishi, Nissan, [color:red]Chevrolet, Ford[/color] and Mazda. Sales of passenger cars, which are increasingly becoming diesel powered because of petrol increases, are dominated by Toyota, which took more than 51% of the segment. Honda is second in this segment with a 25.9% share. These are the numbers from 2005. All makers are loosing money at the moment. Toyota just announced its first loss in its history. Link to comment Share on other sites More sharing options...
Bangkoktraveler Posted December 23, 2008 Report Share Posted December 23, 2008 "Toyota just announced its first loss in its history." Is Toyota faltering because of poor management, etc. or are they feeling the effects of what hapened when gas went to $4.50 and then dropped to $1.50 while credit has been frozen? Link to comment Share on other sites More sharing options...
kamui Posted December 23, 2008 Report Share Posted December 23, 2008 "Toyota just announced its first loss in its history." Is Toyota faltering because of poor management, etc. or are they feeling the effects of what hapened when gas went to $4.50 and then dropped to $1.50 while credit has been frozen? Toyota said it expected an operating loss in its auto operations of 150 billion yen, or $1.7 billion, for the fiscal year ending March 31. That would be the companyâ??s first annual operating loss since 1938, a year after the company was founded, and a huge reversal from the 2.3 trillion yen, or [color:red]$28 billion, in operating profit earned last year[/color]. NYT Last year Toyota had an operating profit which was double of the bail out money for the big three. I presume that Toyota has a huge war chest... Link to comment Share on other sites More sharing options...
Bangkoktraveler Posted December 23, 2008 Report Share Posted December 23, 2008 Hard to believe Toyota started out making clones of a Chrysler car. Link to comment Share on other sites More sharing options...
cavanami Posted December 24, 2008 Author Report Share Posted December 24, 2008 The Japanese keep a HUGE cash reserve...just in case. The smaller companies that I worked with also had HUGE life insurance policies on the CEOs and upper management. Everything geared to keep the company going during a mishap. Not quite the US style where the CEOs and upper management suck every cent out of the company leaving no provisions for mishaps...the US gov does not help as the IRS is looking to suck tax off any cash laying around. So now, the US is in a lose-lose situation all because of the azzhole US gov...regulation? we don't need no stinking regulation! Hello $50B scam...and more to come!!! Link to comment Share on other sites More sharing options...
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