Word: yen
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Toyota's new direction reflects political necessity following decades of U.S.-Japanese trade clashes and a yin-yanging yen. Going to America not only defeats barriers like the current 25% duty on imported pickup trucks but also lowers manufacturing and distribution costs. Toyota's nonunion U.S. workers shave some 10% from its wage bill vis-a-vis Japan, and a like amount from shipping costs. The savings can knock about $2,000 off the sticker price of a Camry that would cost $20,000 if imported from Japan...
Johnson is also driving the company well beyond the U.S. In Japan trillions of yen have been figuratively kept under the mattress, locked into low-interest savings accounts. That money is becoming unlocked--and Fidelity wants a piece. In December, Fidelity became the first U.S. company to launch a yen-dominated investment trust in Japan. In Britain defined-contribution plans similar to 401(k)s, as well as mutual funds, are just beginning to take off, and the company is investing heavily...
...Yen, Weiss and Hsu are back at Harvard now, but their lives have been changed...
...Yen, who is writing a letter to the judge, said she thinks about Craig often...
...hard for me to realize that she's not coming back," Yen said...