Word: toyota
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Dates: during 1980-1989
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Shortly before 6:30 each weekday, the gray Toyota station wagon glides down the driveway and stops a few feet beyond the steel security fence in Great Falls, Va. Lieut. Colonel Oliver North rolls down his window to greet the watching press corps shivering in the dark. Ever cordial, the former National Security Council aide exchanges light banter with the group. A photographer warns him that an accident is already clogging commuter traffic, and North retorts in mock dismay, "You mean I have to listen to the news?" A few flashbulbs pop and North speeds down the narrow country road...
...firms for ignoring minorities. He asserted that blacks in the U.S. own some 2 million Japanese cars but have fewer than five dealerships nationwide. If Japan's businesses do not enter into a "mutually respectful and beneficial relationship" with blacks, Hispanics and women, he told the top officials of Toyota, Sony and other companies, they too may face boycotts. Said Jackson: "I am here to announce that we have enough intelligence to support people who support...
...Japanese auto industry, which employs 10% of the country's work force and generates more than 20% of its exports, has driven into a similarly rough patch. For the fiscal year that ended in June, Toyota Motor, the country's largest car manufacturer, saw its profits fall 17%, to $1.6 billion. That marked Toyota's first decline in four years. For the six months that ended in September, Nissan Motor suffered a $122 million operating loss, its first since 1951. As a result, the company reassigned 2,500 employees to Nissan sales subsidiaries...
...currency change and past protectionism have spurred the explosive growth of Japanese manufacturing facilities on U.S. soil. Honda and Nissan operate plants in Ohio and Tennessee, respectively, that together produce 560,000 vehicles annually. They will soon be followed by Mazda (Michigan), Toyota (Kentucky) and a joint venture, location to be announced, between Fuji Heavy Industries (Subaru) and Isuzu...
...sign of the changing automotive times is that U.S. companies are collaborating with the Japanese in their new enterprises. This fall, as Toyota starts annual production of 50,000 of its peppy Corolla FX-16 at a joint- venture plant in Fremont, Calif., it is also assembling 200,000 Chevy Novas for GM. Ford, which since 1979 has owned 25% of Mazda, has agreed to buy up to 50% of the output of that company's Michigan plant, to be sold as part of the Mustang series. Chrysler and Mitsubishi have a joint project known as Diamond Star, which will...