Word: boom
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Adding to the tension and complexity of the negotiations are continuing fears of Japanese competition. The current U.S. auto boom would not be as robust without so-called voluntary restraints that limit the number of high-quality, attractively priced Japanese autos that Americans can buy. Industry leaders are intent on holding down labor costs to keep their cars competitive with the imports. Says GM Chairman Roger Smith: "Back in the '40s and '50s, the concerns were GM vs. Ford and vs. Chrysler. What happens here now affects GM vs. Toyota, vs. Volkswagen, and vs. everyone else." Ford Chairman...
...assembling the components in Mexico rather than in the U.S. just a few miles away, Honeywell saves about 50% on production costs. That kind of bargain is creating a manufacturing boom along the 2,000-mile Mexican-U.S. border and is also boosting the ailing Mexican economy. Like Detroit's automakers, who are moving an increasing amount of production to foreign countries, many other manufacturers are also building factories outside the U.S. More than 600 assembly plants have been lured to the Mexican border region to produce everything from electronic components to clothing...
...saying that the high-tech boom is over, though, or that Silicon Valley is about to short-circuit on its own success. Well-managed companies with strong market niches are thriving, and investors continue to back new ventures in high-growth businesses. Among them: CAD/CAM machines that are used for computer-aided design and manufacturing, and computer-aided engineering equipment. Still, the El Dorado atmosphere has waned. Says Public Relations Executive Richard Moran, a former Atari employee: "A gym teacher in Indianapolis still views Silicon Valley as the promised land. But a lot of people here...
...Switzerland, 5.9% of the gross national product stems from tourism; in certain Alpine vacation areas, travelers' spending accounts for up to 80% of the economy. It is this boom in tourism, however, that has led to concern that an ecological apocalypse may be at hand. Says Gernot Patzelt, Innsbruck University's chief ecologist: "We have to define the maximum load, the point beyond which damages will become irreparable...
...sprucing up Sears' stodgy image by introducing new store designs and more big-name labels. He traveled the country, popping into stores and giving pep talks to local managers. As a result of Brennan's innovative moves, Sears' retail sales have gone from slump to boom...