Word: honda
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Boeing: builder of strategic bombers, ballistic missiles and jumbo jets. Boeing: the nation's 29th largest industrial company, but a firm with a plain-talking chairman of the board, Thornton ("T") Wilson, who drives unpretentiously around Seattle in a Honda instead of the company limousine. Boeing: the best planemaker in the world today, eclipsing all competition in the civilian aircraft business...
...navy blue sweater. When the temperature gets too cold, he can even be seen working in his hat and overcoat. And despite a yearly income in the million-dollar range, Wilson still lives in the same house he bought 30 years ago and drives himself to work in a Honda Accord. Behind the folksy down-home style, though, is a tough, raw-hewn engineer. On his office wall hangs a laminated olive branch, a peace offering from a group of squabbling managers who once exasperated their chairman. When they could not reach a consensus at a meeting, Wilson slammed...
...automakers and auto workers also noted that Honda's decision is only a small, first step by the auto division of Japan, Inc. For now, two bigger producers, Toyota and Nissan (which makes the Datsun), report that they are studying the possibility of opening U.S. plants. They have said that often before. Complained Douglas Fraser, president of the United Auto Workers: "Promises, promises, promises, but no action. Our efforts at diplomacy are over. Now is the time to take off our gloves. They must limit exports or build over here." Echoed Henry Ford II, chairman of Ford Motor...
Detroit's leaders hailed Honda's move in the belief that, once weaned from the protection of their government, Japanese firms will have to compete on fairer terms. They will have to pay American taxes, wages and benefits, and incur the same regulatory costs as do American manufacturers. And when Hondas finally start rolling off the U.S. production line, they will face strong competition from new small models, now being designed by Detroit: Chrysler's K car, Ford's Erika...
...some time, Honda's chiefs have been considering a U.S. plant. Unlike Toyota and Nissan, Honda has stretched its existing production capacity to the limit. Hence expansion makes sense, whether in Japan or overseas. Also, Honda sends 42.9% of its output to the U.S.; Toyota sends 44.6% and Nissan 43.9%. Honda has much to lose if the U.S., which imposes a rather modest 3% tariff on imported cars, raises higher barriers or otherwise seeks to restrain imports, as Britain, France and Italy have done over the past several years. Admits Kawashima: "I would be less than candid...