What the hell is this?

Mother Muckraker is an internal newsletter at the now defunct New United Motor Manufacturing, Inc. (NUMMI) in Fremont, CA. The newsletter seeks to debunk the lies and misinformation spread by Toyota and their "company activists"; and more importantly, inform NUMMI union employees about the real reason why Toyota closed their award winning auto plant on April 1, 2010. NUMMI is dead, but Mother Muckraker lives on to serve as a testament to the greedy machinations of Toyota management. Stay tuned for updates.



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Sunday, March 7, 2010

Who Are The Owners of Toyota?

From: MM5

Top 10 shareholders
(As of March 31, 2009): # of shares:

1) Japan Trustee Services Bank, Ltd. 353,082
2) Toyota Industries Corporation 201,195
3) The Master Trust Bank of Japan, Ltd. 192,363
4) Nippon Life Insurance Company 130,791
5) State Street Bank and Trust Company 119,887
6) The Bank of New York Mellon 85,071
7) Trust & Custody Services Bank, Ltd. 84,527
8) Tokio Marine & Nichido Fire Insurance Co., Ltd. 83,821
9) Mitsui Sumitomo Insurance Co, Ltd. 65,166
10) JP Morgan Chase Bank 60,854

The owners of Toyota are mainly financial institutions that only care about profits. For every dollar less they pay you, they get one more dollar in their pocket. Labor costs are the highest cost component. Your wages are the most expensive component. If they can lower that, they get to post up a higher profit.

Revenues (money coming in from sales of cars)
Less: Costs (Wages for example)
Equals: Profits

Revenue – Costs = Profit

When demand for cars is expected to decline, revenues is also expected to decline and profits will also decline. To keep profits up, greedy corporations like banker-owned Toyota will seek to lower wages. In this case, NUMMI’s UAW represented workforce is an obstacle to Toyota lowering wages. Removing the workers’ power to negotiate a wage allows Toyota to set whatever wages they want.

If Toyota saves an average of $100 million per plant by lowering wages in 6 plants, they have saved $600 million which represents $600 million more posted up as profit. Over a number of years, the money that goes into the coffers of Toyota will amount to billions of dollars. That’s billions of dollars that is no longer earned by workers. That’s billions of dollars not being spent back into the U.S. economy. That’s less money for housing, health care and education. You get screwed over as well as your future generations

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