| Honda Withdraws Fiscal View Amid Thailand Flood Damages and Why GM Is A Good Long-Term Investment Now |
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The latest natural disaster marks yet another set back for the Japanese car maker that was just starting to recover from Japan\u2019s March earthquake that stifled its production. ", baynoteOrOutbrain:"outbrain" }; var disqus_identifier = "99de476005a53310VgnVCM10000086c1a8c0RCRD"; var disqus_category_id = "461881"; var disqus_developer = 0; Industries Honda Withdraws Fiscal View Amid Thailand Flood Damages By Jennifer Booton In an unusual move, Honda (HMC) withdrew its earlier provided fiscal earnings guidance on Monday as it continued to evaluative the damage on its operations caused by severe floods in Thailand. The latest natural disaster marks yet another set back for the Japanese car maker that was just starting to recover from Japan(TM)s March massive earthquake and tsunami that stifled its production. The company had planned to ramp up overall car production in the latter half of the year. [Read the full article] People inspect a Honda vehicle at a Honda Motor Co. showroom in Tokyo Monday, Oct. 31, 2011. Honda says its quarterly earnings tumbled 56 percent from a year earlier, battered by the strong yen and production disruptions from the March tsunami disaster. (AP Photo/Koji Sasahara)TOKYO (AP) -- Honda's quarterly profit tumbled 56 percent, battered by the strong yen and production disruptions from the March tsunami disaster that are likely to be compounded by flooding in Thailand.The automaker, which makes the Accord sedan and Odyssey minivan, said Monday that net profit for the July-September fiscal second quarter fell to 60.4 billion yen ($788 million).Quarterly sales sank 16.3 percent from a year earlier to 1.885 trillion yen ($24.6 billion), with sales in North America falling the most -- 22.3 percent.Honda Motor Co. [Read the full article] TOKYO, Oct. 31, 2011 /PRNewswire/ -- Honda Motor Co., Ltd. (NYSE:HMC - News) today announced its consolidated financial results for the fiscal Second quarter ended September 30, 2011.Honda's consolidated net income attributable to Honda Motor Co., Ltd. for the fiscal second quarter ended September 30, 2011 totaled JPY 60.4 billion (USD 788 million), a decrease of 55.5% from the same period last year. Basic net income attributable to Honda Motor Co., Ltd. per common share for the quarter amounted to JPY 33.53 (USD 0.44), a decrease of JPY 41.71 (USD 0.54) from JPY 75.24 for the corresponding period last year. One Honda American Depository Share represents one common share. [Read the full article] 
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