Word: japanism
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...raise your share price: turn employees into customers. But that trick - what some Toyota department heads in Nagoya, Japan, did this week by asking managers to purchase new cars by the end of the fiscal year - won't stop Toyota's sliding stock. As a stronger yen continues to batter Japanese exporters selling into depressed economies around the world, the Nikkei 225 stock index dances around its 26-year...
...above the 9000 level for the first time in two months. The boost, however, was short-lived, and the Nikkei continued to drop, after losing 42% in 2008. Now hovering just above 8200, the index is about one-fifth of what it was in 1989 at the peak of Japan's stock-market bubble. (See pictures of scared traders...
...some of the more bullish market analysts say it won't see that level again. But as corporate profitability continues to plummet and the global economy worsens, stock-market analysts are waiting for a catalyst. Tsuyoshi Nomaguchi, strategist at Daiwa Securities in Tokyo, says Japan's stocks are not comparatively cheap but are in the "attractive zone," and once recovery measures in the U.S. take effect in the middle of 2009, Japan's stock prices will rise on anticipation of economic growth. "Japan is falling behind [other nations] in implementing political measures on the economy. Waiting for the recovery...
...exclusive hotel," "Uncle Sam's guesthouse," and "the best small hotel in Washington," and rightly so. Since 1942, the Blair House has been the B&B of choice for former presidents, incoming Presidents, and major leaders from around the world, including Margaret Thatcher, Ariel Sharon and Emperor Hirohito of Japan. It's so exclusive that when the Obamas asked to move in a little early so their daughters could start school on Jan. 5, the President-elect and his wife were told they had to wait their turn. ('SORRY, WE'RE BOOKED,' WHITE HOUSE TELLS OBAMA was the New York...
Those days in Tokyo underpin Geithner's current worldview. Remember: Japan went from boom to bust because a credit-fueled housing bubble burst. Sound familiar? The result was Japan's infamous Lost Decade of little to no economic growth. And it was, in part, the withdrawal of Japanese capital from the region that helped set off the Asian crisis in 1997 and '98 - when countries from Thailand to Russia to Indonesia to South Korea devalued their currencies and saw their economies crash. The lesson for Geithner was clear. "From my time in Japan and then dealing with the crisis...