Word: shoichiro
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Dates: during 1990-1999
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...contrast, the heads of Japan's Big Three -- Shoichiro Toyoda of Toyota, Nobuhiko Kawamoto of Honda and Yutaka Kume of Nissan -- earned a total of $1.8 million, counting bonuses. Moreover, while the Japanese execs are presiding over thriving enterprises, the U.S. auto industry is coming off one of its worst years ever. Sales of American-made cars plunged 12.6%, to 8.7 million, in 1991; more than 40,000 autoworkers lost their jobs, and GM announced plans to eliminate 74,000 jobs by 1995; and the Big Three rolled up financial losses that analysts predict could exceed $6 billion...
...Toyota, Shoichiro Toyoda is provided with membership in several elite golf clubs. Kume of Nissan receives a company-rented house in a posh Tokyo neighborhood. Nissan also provides its 47 board members with free use of a vacation home in Hakone, a mountain and lake resort area south of Tokyo. Liberal expense accounts routinely cover pricey meals and bar bills that can add up to $1,000 a head for a night...
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