Word: nissan
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...border merger. Aventis is the new, conspicuously neutral name for what used to be Germany's Hoechst and France's Rhone-Poulenc. Nor are Europeans confining their targets to the Old Continent. Even a few years ago, it would have been hard to imagine Renault buying Japanese carmaking giant Nissan or Daimler-Benz acquiring Chrysler...
...Ford, Nissan and other carmakers are focusing their attention on a generation barely old enough to drive, because the 70 million or so echo boomers (born between 1977 and 1994) may grow up to be the most affluent generation ever. But unlike their parents, the echo boomers claim to have no interest in driving elephantine, fuel-swilling sport-utility vehicles and trucks...
...impassioned pleas for attracting younger buyers, they simply turned to the babies themselves, who appeared in person or on MTV-inspired videos, twentysomethings and teeny boppers cooing over the many cars now aimed directly at them. Two of the industry's new youth magnets, the Ford Focus and the Nissan Xterra, were voted car and truck of the year last week--coveted awards issued by North American auto journalists...
Amen. Even as giants like Nissan and Mitsubishi are racked by restructuring woes, new start-ups emerge every day in Japan. To be sure, their ranks are puny by U.S. standards, but the movement seems to have taken hold. This fall 2,300 enthusiasts turned out for a meeting promoting the establishment of a NASDAQ over-the-counter market in Japan. Old business models are being tossed aside like yesterday's sashimi. The hero of a popular novel is the young president of a chain of bars. One of Japan's biggest growth industries is continuing education. And Tokyo...
...which to float a lot of start-ups, nor is there patience for companies that don't start making money immediately. The threat of massive failures at the big old companies has already drawn a backlash from top politicians who want to preserve lifetime employment. Next March, analysts predict, Nissan will announce an even bigger loss. But then, what's bad news for Nissan is good for Japan. --By Frank Gibney Jr. Reported by Tim Larimer/Tokyo