Word: pickup
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George Taylor fought the Empire of Japan as a U.S. Marine in World War II, and he still has bitter memories. But now as mayor of Princeton, Indiana (pop. 8,100), he gladly put them aside last spring when Toyota unveiled plans to build a $700 million pickup- truck plant in his economically sagging town. "I've changed my mind a little bit," Taylor, 74, says. "The way I look at it, the Japanese are coming over here and giving American workers good jobs, while American companies are closing factories and taking work overseas for low wages." In a sign...
Toyota's new direction reflects political necessity following decades of U.S.-Japanese trade clashes and a yin-yanging yen. Going to America not only defeats barriers like the current 25% duty on imported pickup trucks but also lowers manufacturing and distribution costs. Toyota's nonunion U.S. workers shave some 10% from its wage bill vis-a-vis Japan, and a like amount from shipping costs. The savings can knock about $2,000 off the sticker price of a Camry that would cost $20,000 if imported from Japan...
...line of minivans to its $3.4 billion plant in Georgetown, where Camrys and Avalons are now produced, and tripling the output of its St. Louis-based Bodine Aluminum subsidiary, which makes engine components. Next will come a new $400 million engine plant in Buffalo, West Virginia, and the T100 pickup plant in Princeton. Toyota is expanding other facilities, like its Corolla factory in Cambridge, Ontario. There's a $310 million technical center abuilding in Ann Arbor, Michigan. Toyota recently opened the world's largest proving ground, a 12,000-acre property outside Phoenix, Arizona. "We can now do everything...
ROBERT ADERHOLT Republican--Alabama 4th Replacing 15-term Democrat Tom Bevill, who is retiring, 31-year-old conservative Aderholt gave the G.O.P. a "pickup" victory...
ADAM SMITH Democrat--Washington 9th A moderate candidate in a centrist district, Smith was the third Democratic pickup in Washington this fall. He did it by painting incumbent Randy Tate as a Gingrich crony...