5 times the expected profits in 2008 and 2009

Since "Madame Butterfly", the Japanese should know that they should not expect us promises. Such famous geisha derelict by the spirited Pinkerton, Toyota may now complain of having relied on American positions more than was reasonable. It is has concentrated its forces and made her the most profitable market. But, seized by debauchery, he also made Tango his principles of Economics and geared for the 4 4 and other pick-up, these greedy heavy vehicle fuel. An error that has not made Honda, his more prudent colleague, including the fall in sales in the country of Pearl Harbour is more than two times less than its own. Result, it still had a few months ago winning 10 billion more table now as 390 million of net profit at the end of the year and is about to suffer an operating loss for the first time since the beginning of its history started pre-war. This revision involved only six weeks after an already severe correction, there is no assurance that, here in late March, date of conclusion of the exercise of the Japanese manufacturer, it will be not followed other bad news. They could also come from America, each yen won the Japanese currency against the dollar by lose 300 million more. All say that the shareholders, who have already lost this year half of their investment, can prepare to tighten the belt of their kimono.

Tire pressure

When automakers cough, tyre manufacturers to colds. While the latest flagship of the Japanese Toyota car will plunge into the red, it is therefore hardly surprising to see two world champions of the tire, the Michelin French, and Japanese Bridgestone, announce and awakenings. The crisis is being sharply aggravated since two months, Japanese now expected a fall of 80 of its profit for the current. In French, for which investors anticipated a decline of 20 of the profits, it did not accurately on this subject, but the fall in sales figures are eloquent. Not only sales of first monte for new vehicles of tourism are affected, with declines of more than 30 in Europe as in the US, but still the replacement market is down on all continents. And that is much better. However, despite a decrease of 54 in one year, the Michelin action, which is part of the rare values of the CAC 40 to still be in the Green over five years, pay today 8.5 times the expected profits in 2008 and 2009. Relatively high levels in an automotive universe in full depression.

Fault of carre

When a champion of the sliding rate a door, it can compromise its season, even his entire career. This is what happens to Quiksilver. To have intended to play the stars of the establishment of leisure industry by buying Skis Rossignol, full rout, the specialist of the sportswear is placed at risk. In three years, the former downhill champion cost him some 500 million euros. Its recent sale for the sum derisory of 40 million, added to the first effects of the recession on the various markets of the Californian group did strongly plunge into the red with a loss of 170 million euros or 10 of its global sales. However Quiksilver is not the Woods while the recession extends to the four corners of the planet. The fact that Europe has withstood more so far is not really reassuring because the Continent suffers late bad winds from across the Atlantic. And the decision to open a store on red square in Moscow just by closing the 25 worst performing stores worldwide shortly seem strange both the Russia risk among the major victims of the current economic slowdown.