Word: motoring
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Merely Temporary? Indignantly, ICC members denied that the gleam of nationalization was in their eye, pointed out that airlines and motor transport are both presently subsidized in one form or another-but are still far from nationalized...
Profits in Peace. There was scant chance that the Big Three would agree to profit sharing. Romney, growled Ford President John Dykstra, is "not going to write the contract for Ford Motor Co.'' But the American Motors settlement was bound to put pressure on the Big Three to improve their offer. It was doubtful that the Big Three and the union could reach agreement before the Aug. 31 deadline, and the U.A.W. has vowed that it will not work without a contract. Oddly enough, Labor Day, which falls only four days after the deadline, provides a special incentive...
...produce steel at prices competitive with U.S. mills-even though the Japanese must import almost all their coal and ore. Other Japanese companies turn out auto parts, cameras, transistors, television sets and chocolate bars on automated equipment. Manufacturing a two-cylinder motorcycle now costs Japan's booming Honda Motor Co. (TIME, Aug. 25) no more than it used to cost to make a one-cylinder machine before automation...
When Japan's Honda Motor Co. first entered its machines in the big European motorcycle races two years ago, one Western racing buff snorted: "We knew the Japanese made good rickshas, but we didn't know they made motorcycles." Honda's bikes soon blew exhaust fumes in the scoffer's face. Seven of this year's ten international Grand Prix motorcycle races have been run so far, and Honda's machines have lapped the best in Europe. Under the complicated scoring system of motorcycling's Olympics, Honda has piled up 106 points...
...Labman. On the strength of the bicycle boom, Honda set up the Honda Motor Co. with capital of only $2,778, and five years later began to produce motorcycles. Today Honda Motor Co. is capitalized at $25 million, employs 6,000 workers in its three plants on Japan's main island of Honshu. The Honda family controls 15% of the company's stock, the firm's employees hold another 30%, and the remaining 55% is publicly held...