Word: imported
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...city slicker faces a language barrier in Benton County, Iowa. Says he: "When a farmer told me it cost him $10,000 to tile, I thought he was talking about his kitchen. He meant field drainage tiles." After several companies declined to discuss a possible reduction in Export-Import Bank funding, Correspondent Patricia Delaney approached J.I. Case, a construction-equipment manufacturer in her native Racine, Wis. "When Case executives tried to refuse, I asked them how they could turn down a request from a home-town girl," says Delaney. "I had an interview with the president of Case the next...
Despite this manual activity, Reagan pays close attention as Stockman, sitting beside him, leads the group through summaries of proposed reductions. The Bud get Director critiques, harshly, the spending habits of the Export-Import Bank and lays out his proposal. "Anyone have any comment?" Reagan asks. There is virtually no dissent as a large reduction is agreed...
Meanwhile, Seatrain's container freight operation was falling apart in a whirl of scandals and bad business. The firm had to pay the Government nearly $1 million in penalties for making kickbacks to shippers and about $500,000 for unpaid import duties...
France and Italy, on the other hand, have stringent import restrictions that have prevented the Japanese from capturing more than 3% of the local markets. The success of its economical R-5 (known as Le Car in the U.S.) helped France's Renault to increase sales last year by 11%. Italy's Fiat expanded its share of the local market from 50.9% to 52.3%, despite weak demand for its larger models and intermittent strikes that reduced production in September...
...Europeans will have to move quickly to fight Japanese competition or they will lose even more, of their auto market. Experts predict that next year Europe will import more cars than it exports. By 1985, according to forecasters, the Japanese may have captured nearly 15% of the British market and 17% of West Germany's new car sales. The Japanese now have 21% of the U.S. auto market. European automakers, like their American counterparts, will have to face the Japanese challenge by obtaining more cooperation from often fractious labor unions, boosting productivity and turning out cars that can compete...