Word: jointing
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...last week between Mercedes-Benz, the maker of luxury cars, and Nicolas Hayek, the man who put almost 150 million Swatches on wrists all over the world. So far, the two companies have worked on separate prototypes, which they plan to merge into a single model produced by a joint company (Hayek's stake is 49%, Mercedes' 51%) for the 1997 market...
Although Hayek has landed a blue-chip partner, he continues to inspire skepticism. A short-lived joint venture with Volkswagen broke down last year. "I have trouble believing in this project," says Paris-based market analyst Antoine Nodet. "Jumping from watches to cars lacks credibility." Jean-Marc Buchet, who follows the auto industry for the French brokerage firm Leven, says that "there is clearly a market for a small city car" but wonders if people will pay $10,000 for "a two-seater with no trunk space...
...canceled talks scheduled for this week with North Korea after Pyongyang refused to allow international inspectors full access to its Yongbyon nuclear facility. Washington also reportedly decided Saturday to reschedule joint military exercises with South Korea, which had been suspended. By week's end talks between archenemies North and South Korea collapsed...
...Council and retaliation by Pyongyang that Washington has been negotiating for a year to avoid. On Saturday the North's nuclear negotiators stormed out of a meeting with the South. The U.N. may take the matter up this week; the U.S. has reportedly decided to resume plans to conduct joint military exercises with South Korea. North Korea has warned that it would consider these actions serious provocations. In Seoul last week TIME managing editor James Gaines, international managing editor Karsten Prager and Tokyo bureau chief Edward W. Desmond talked over the troubling events with South Korea's first civilian President...
...When we had Jason Priestly on the show hewould always go off and say he had to study hislines," Spade said. "But then he was seen at adifferent strip joint each night of the week...