Word: yen
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...yen...
...cars. Seven of the 10 most improved autos in the latest J.D. Power survey carried U.S. nameplates. (Three U.S. brands made the Power list of the 10 highest-rated cars in terms of owner satisfaction, up from one model when the survey began in 1986.) Moreover, with the strong yen triggering ticker shock in showrooms that sell Japanese makes, consumers are finding that buying American makes practical as well as patriotic sense...
...Three's abrupt acceleration has caught Japanese carmakers off guard. "The Japanese never expected that Detroit would get better," contends Maryann Keller, an industry analyst with the firm Furman Selz in New York City. But with the yen now trading around a robust 105 to the U.S. dollar, Japan has been forced to price its cars out of the reach of many American shoppers. "At the yen level we are facing right now, it is difficult for some of our Japanese-made models to be competitive in the U.S.," a Toyota executive says. Some Western observers suspect they are witnessing...
...revise the system. One typical problem: most districts have several legislators, which means Liberal Democrats from different party factions must compete against one another. Since they cannot slug it out on the basis of policies, they compete in terms of patronage -- which in turn creates pressure to raise yen under the table. Hata's plan was shot down in 1991, however, when many of his colleagues saw that the reforms would throw a wrench in their own political machinery. "He has been a committed true believer ever since," says a professional acquaintance...
...about it. It's one thing to wave off the corporate bean counters' attempts at cost control, as a studio source says Columbia president Mark Canton did last winter on Last Action Hero, but Canton and his boss, Sony Pictures chairman Peter Guber, were publicly cavalier about the mega-yen budget. A modestly priced Last Action Hero, Guber said at a conference in March, "would wind up being Last starring Arnold Schwarz." At the time, the line seemed funny...