Word: toyotas
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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...
Japanese automakers, whose success in the U.S. has come largely at GM's expense, feared that the Detroit automaker's cutbacks would add fuel to the political backlash against Japan. Toyota, for one, took the remarkable step of publicly expressing sympathy for laid-off GM workers. Next month the chiefs of the Big Three U.S. automakers will accompany President Bush on a trip to East Asia, where they are expected to urge Japan to buy more U.S.-made autos to reduce the trade deficit. But more radical measures are brewing in Congress. House majority leader Richard Gephardt and Michigan Senator...
...even after shedding as many plants and people as there are in all of Chrysler, will still be the world's largest automaker -- but no longer the richest. Toyota, Japan's leading carmaker, has $12.7 billion in cash reserves, vs. GM's $3.5 billion. Toyota shows every indication of reinvesting its huge sums to improve both product and design. Unless GM can return to profitability and make similar investments, the current cutback won't be its last...
...devastated. Their top scoring ace, GARY LINEKER, is moving to the Grampus Eight club of Nagoya, Japan, in a deal worth nearly $9 million. Japan, where professional soccer will get under way in 1993, wants to become a global force in the sport. Such companies as Matsushita, Mazda and Toyota, which have invested in soccer teams, are luring world-class players to kick-start the action...
...house with a soundproof basement, he recorded 19 Singable Songs for the Very Young. He borrowed $4,000 to have the records pressed and sold them from his Toyota station wagon. His concerts for children became local legends, with scalpers selling tickets for $300 apiece. "I'd play to 1,200 children in the public library; then that night I'd go to the coffeehouse to play, and there'd be 30 people. I got the message...