Word: retools
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Dates: during 1950-1959
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...automakers, who spent $1.5 billion to retool for the 1958 lines, are doing their best to make 1958 a great year. Hoping to sell at least 6,000,000 cars, they have visions of even juicier sugarplums. So many motorists have paid off the debt on their present cars that 1,000,000 more potential buyers than this year will be able to buy again in 1958-maybe even enough for a 7,000,000-car year...
...Export or die" has long been Japan's watchword. There is danger that it will turn into an epitaph. While they should have been sacrificing and skimping at home to retool for export, Japan's politicians and businessmen frittered away time and resources in loose planning, uncontrolled lending, lavish government subsidies, politically expedient tax reductions, a splurge of domestic production and a rash of corruption. Under Yoshida the country did not begin until last year the gestures of discipline and austerity that were needed. The gestures helped-only eight months ago economists were predicting total economic collapse...
...disappointed applicants were well aware that the real reason for the turndowns was a 1) resurgence of nationalism and 2) pressure from native manufacturers, who were reluctant to put in efficient production lines and retool to meet the fresh competition. In addition, there was pressure from banks protecting their 12% interest rates...
Variable Pitch. While Chevrolet is G.M.'s biggest news for 1955, its four other auto divisions have spent another $300 million to retool, by far the biggest new model outlay in G.M.'s history. This week Pontiac's 4,047 dealers are also showing off their 1955 entries. The new Pontiac is 2½ in. lower and as much as 3.5 in. longer than this year's. The new V-8 engine has stepped horsepower up from 127 to 180, and an optional carburetor will boost it to 200 h.p. Buick, Olds and Cadillac, which made...
Japan's businessmen are partly to blame for this state of affairs. Instead of using Korean war profits to retool their plants, pack new muscle on Japan's war-torn industry so it could compete better in the free world, they squandered much of the money on modern office buildings, long, black limousines, English tweeds and expensive parties. But the real crisis will not come, say some observers, until Japan's reserves drop to $600 million. Thoughtful businessmen, who long ago warned that the end of the Korean war would hit the economy hard (TIME, April...