Toyota to buy stake in GM

The head of Toyota Motor Corp. said on Tuesday he would not rule out buying a stake in a non-Japanese automaker, but added it was not clear how much need there was for such a move. "I wouldn't say the possibility was zero," President Katsuaki Watanabe said at an industry conference when asked whether the automaker would consider a stake in a competitor outside Japan. "It's a question of whether there would be a need for that," Watanabe said. Autonews.com [Editor's Note: Could be the best thing that ever happened to GM. First order of business – fire all GM's top management and replace them with some real managers. The scheme to reduce the price of their cars to consumers to employee rates was a typical shortsighted GM move. It caused a boost in sales for a couple of months but now car sales have plummeted to a trickle as no one needs a new car now. End result – they gave away millions of cars and made no profit on them.]