Word: toyotas
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Dates: during 1980-1989
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...Toyota stir an outcry
America's General Motors Corp. and Japan's Toyota Motor Co. are by far the biggest automakers in their respective countries and produce nearly 25% of the world's automobiles between them. So when the two giant firms signed a $300 million preliminary agreement last week to build a subcompact car in California, GM's U.S. rivals sensed a threat to their business and let out cries of alarm. The loudest came from Lee Iacocca, chairman of Chrysler Corp., which is counting on small cars to help fuel its comeback. Iacocca called the GM-Toyota arrangement...
...rivals want the Federal Trade Commission to bar the venture as a violation of antitrust law. An official of the FTC, which is reviewing the deal, said that a decision on whether to challenge it would be "a very close call." The GM-Toyota linkup has congressional critics too. One opponent, Ohio Representative John Seiberling, has urged early hearings on the agreement...
Competing carmakers fear that the arrangement will make GM and Toyota even tougher to beat. GM, the world's largest car manufacturer, already commands about 44% of the U.S. market. Toyota, the third biggest automaker (after Ford), has a 6.6% U.S. market share, less han Chrysler (10%) but more than American Motors...
Until now, the Japanese industrial rise has been depicted largely in terms of a work force that labors with an almost cultish devotion to the common economic good. That was before a Japanese journalist named Satoshi Kamata went to work on a Toyota assembly line and kept a diary. The brutal conditions he describes in Japan in the Passing Lane (Pantheon; 211 pages; $14.95) seem like something from a Charles Dickens novel...