Word: maehara
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...Toyoda - who unconvincingly insisted that he made the second public appearance not because he has come under fire, but because it was his "own way of improving the situation" - delivered the bad news at the Ministry of Land, Infrastructure, Transport and Tourism, where minister Seiji Maehara also learned the chief of the world's largest automobile maker is headed to the U.S. on an apology tour. Maehara has condemned Toyota for being insensitive and slow in responding to domestic consumer complaints - the first report of the brake problems in Japan goes back to July, and 84 had been filed...
...lift it needs to stay in the sky - but not without shedding some bulk. With the government keen on keeping Japan's largest carrier in business, JAL is now set to transition into a three-year, state-backed restructuring plan. Before JAL's filing on Tuesday, Transport Minister Seiji Maehara said, "The government wants to continue to support JAL to ensure its continued stable and safe operations." The Enterprise Turnaround Initiative Corp. of Japan (ETIC), a quasi-government entity that buys the debt of troubled Japanese companies and helps turn them around, will support the airline through massive rehabilitation...
...partner to JAL through the Oneworld alliance, and its private equity partner are willing to offer JAL $1.4 billion. Delta, the world's largest airline operator, has offered $1 billion. JAL aimed to make the decision between American or Delta by the end of the month, but Transport Minister Maehara has said the decision will be delayed. Neither airline will be allowed to invest in JAL until new management is in place in February...
...erosion of its customer base, high cost structures and a $15.4 billion debt load, JAL lost about $1 billion last quarter and projects a loss of about $700 million for this fiscal year. With nowhere else to turn, JAL CEO Haruka Nishimatsu this week met with Transport Minister Seiji Maehara to discuss a government bailout, inviting unflattering comparisons between the Japanese airline and American carmaker...
...unpopular Prime Minister as well as disapproving of a few of his cabinet choices and wants parliament dissolved in to come up with a whole new government. The DPJ is also pressing for an early dissolution because, it says, Fukuda "threw the administration away" by resigning so soon. Seiji Maehara, vice president of the DPJ, says, "The LDP people hope Aso will be in power," but he says an early general election will just prove that LDP will trot out the same old policies while the DJP has revolutionary ideas that will win it the "reins of power...