Word: mitsubishis
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American automobile and consumer electronics companies have taken their lumps from Japanese competitors in recent years, and now it may be the turn of U.S. grain exporters. Since 1978 such gigantic Japanese trading houses as Mitsui & Co. (1981 sales: $70.8 billion), and Mitsubishi Corp. (1981 sales: $70.3 billion), have quietly bought some two dozen U.S. grain elevators to store crops for export, and now handle an estimated 10% of all American grain sales abroad...
...Japanese have grabbed this business away from traditional exporters like Cargill Inc. and Continental Grain Co. by using the high-volume, low-profit tactics that have made Japanese companies feared and formidable competitors in markets everywhere. Mitsui and Mitsubishi deny that they go further and deliberately incur losses, but U.S. traders insist that the companies in some cases do just that to expand their share of the market for American grain...
Built in Japan in 1976 by Mitsubishi Heavy Industries Ltd., the $120 million Ocean Ranger was the largest semisubmersible oil rig in operation, 396 ft. long, 262 ft. wide and 337 ft. high, with twelve 45,000-lb. anchors. The sinking of the rig was a tragic reminder that even though they are designed to ride out the most severe storms-110-ft. waves and 115-m.p.h. winds in the case of the Ocean Ranger-offshore drilling platforms are not the safest of workplaces. Since 1976, when a rig collapsed during a storm in the Gulf of Mexico, killing...
...motorcade of security men, returned dutifully to Malacañang Palace, bastion of her father, President Ferdinand Marcos. Meanwhile the man she had secretly wed on Dec. 4 in Arlington, Va., Tomas ("Tommy") Manotoc, 32, amateur golf champion and basketball coach, drove off alone in his 1977 white Mitsubishi Galant Sigma and disappeared...
...penance, the Chinese agreed to pay some $40 million in compensation to Mitsubishi Heavy Industries for the cancellation of a $420 million hot-rolling steel mill that was to form part of a second phase at Baoshan. Peking also belatedly agreed to import and pay for all of the petrochemical equipment and technology that it had originally signed for with Japanese and West German firms, a commitment that could total as much as $1.5 billion. Industrial development in the People's Republic still faces serious obstacles. Not only must the country be able to train the millions of skilled...