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...global auto industry unless you make outstanding cars, which Toyota does - most of the time. Though cars are familiar machines, they are also highly complex ones. To create a modern car, a company has to design, engineer, build, buy and then assemble some 10,000 parts. Sell 7.8 million cars, as Toyota did worldwide in 2009 - a horrible year for the industry - and there are billions of new parts with the potential to go kerflooey. Inevitably, some...
...What makes the recall since November of nearly 9 million Toyotas that are susceptible to uncontrolled acceleration and balky brakes such a shocking story is not so much the company's manufacture of some shoddy cars or even its dreadful crisis management - though those are errors that will cost it more than $2 billion in repairs and lost sales this year. It's something more pernicious: the vapor lock that seems to have seized Toyota's mythologized corporate culture and turned one of the most admired companies in the world into a bunch of flailing gearheads. Not only is Toyota...
...snowcapped mountains as a backdrop. "It's blown us away, to be honest," says U.S. speedskater Chad Hedrick, who won gold, silver and bronze medals at the 2006 Winter Olympics in Turin, Italy, and is a medal contender this year. "They really went big on this. It's a million-dollar view, for sure." (See 25 Winter Olympic athletes to watch...
...thank you very much, by the taxpayers of Vancouver. More than any other project in recent Olympic history, the $1 billion residential complex represents the risks that urban governments face when trying to host one of the world's biggest parties. The city planned to invest about $47 million in the project back in 2006. However, cost overruns and the recession forced Vancouver to step in and bail out the private developers who were charged with financing the project. The city avoided the humiliation of welcoming the world with a half-built Olympic Village, but at a great price...
...city could recoup its investment if the developer sells enough million-dollar condos to Vancouver residents after the Olympics are over. That may have been a reasonable expectation in the real estate go-go days. Yes, the digs are nice, and the development has won kudos from environmentalists for the energy-efficient design of the complex, which has green roofs and will reuse rainwater, and for its easy access to public transportation. Metro Vancouver housing prices have rebounded from the worst recession lulls - year-over-year condo prices were up 15% in January - but it's still not the best...