Word: agreement
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Dates: during 1980-1989
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Under the original agreement reached last November, Japan's Mitsubishi Heavy Industries would design the fighter (top speed: 1,300 m.p.h.) in cooperation with St. Louis-based General Dynamics. The deal guaranteed U.S. contractors 40% of the $1.2 billion development budget and allowed access to the secrets of advanced Japanese radar gear and composite materials. But Bush wants further assurances that American firms will receive 40% of the $5 billion to $10 billion in production contracts for as many as 170 fighters, which are to be deployed in the late 1990s...
...Reagan Administration's agreement ran into turbulence during two of Bush's National Security Council sessions in mid-March. Outspoken opponents included White House chief of staff John Sununu, a former engineering professor, who argued that the U.S. risked losing the technological edge represented by the plane's so-called source codes, which coordinate its electronic features. The doubters were joined by Secretary of Commerce Robert Mosbacher, who says he wanted to ensure that "this aviation technology, which has taken so many years of blood, sweat, tears and money to develop, did not instantly allow our biggest competitor to catch...
Proponents of the deal believe the bulk of technology flow will be from Japan to the U.S. Edward Bursk, chairman of the Aerospace Industries Association of America's International Council, told Congress last month he thought the agreement was fair. Said Bursk: "The U.S. technology involved in FSX is at a reasonable level and under U.S. Government control," adding that Japan could build a comparable plane by itself...
Last week Finance Minister Pedro Aspe announced that Mexico had reached a tentative agreement with the International Monetary Fund to borrow $3.6 billion. Mexico plans to use the three-year loan to lower its debt payments by inducing banks to reduce the country's debt or the interest charged. It remains doubtful, however, that the IMF deal, which is part of a new U.S. policy announced last month by Treasury Secretary Nicholas Brady and which could reduce Mexico's debt load by as much as 20%, is enough to jump-start the country's stalled economy. And even...
...will not have the workstation market all to itself. Last week a major competitor, Hewlett-Packard, said it had reached an agreement to buy workstation pioneer Apollo for $476 million. The merger will give Hewlett- Packard more than 30% of the workstation market, supplanting Sun (28%) as the top manufacturer. But the workstation market is expected to grow some 44% this year, to nearly $6 billion, leaving plenty of room for expansion. Says William Joy, Sun's vice president of research and development: "The action is on the desktop. That's where most of the people...