New York City mayoral election, Inthe incumbent mayor of New York City, Rudy Giulianiwas ineligible for re-election, as the city limited the mayoralty to two consecutive terms. Several well-known New York City politicians aspired to succeed him.
Typical keiretsu conglomerates were arranged in the form of a series of interlocking industrial corporations organized around a Japanese bank, which provided banking and financial services to the industrial corporations. Japanese industry gained its competitive edge by copying Western products, improving upon them and selling them back to the West for cheaper prices.
To compensate for their relative lack of natural resources, Japanese companies focused their efforts on developing innovative and efficient manufacturing methods and improving the quality of their products, giving Japan a strong competitive advantage in high value export products such as cars and electronics BPIR, In addition, the rolling energy crises of the s reduced the appeal of traditional gas-guzzling American-style V8 automobiles and dramatically increased consumer interest in the smaller, more fuel-efficient vehicles made by Japanese auto makers such as Honda and Datsun now Nissan.
Japanese electronics manufacturers also established a strategic foothold in the burgeoning computer hardware industry, virtually monopolizing the market for semiconductor chips, circuit boards and other computer components — nearly everything except for CPU chip production, which was still dominated by American companies.
Though salarymen worked extremely long hours and were expected to provide the utmost loyalty and sacrifice to their corporation, they were rewarded with thoroughly middle class lifestyles and promises of lifetime employment — a significant step-up from the very humble lives that most Japanese lived before World War Two.
Banks started to take increasingly excessive risks that were partly funded by trillion worth of Yen borrowed from various capital markets. Ina Japanese business group acquired the Pebble Beach golf course, causing the U.
Open—a highly prestigious golf tournament—to be played on a foreign-owned golf course for the first time ever New York Times, Zaitech-practicing firms obtained low-interest loans and used them to purchase stocks and real estate, which surged and helped the firms to report blowout earnings as long as asset prices continued to rise.
At the very peak of the bubble, a survey of institutional investors showed that the majority of them did not believe that the Nikkei was overvalued Barsky,p. The land underneath the Tokyo Imperial Palace was rumored to have been worth as much as the entire state of California in the same year Impoco, Record prices were paid for famous pieces of Western art.
Wealthy Japanese tourists became an ever-present fixture in the high-end auction houses, art galleries and luxury boutiques of cities like New York and London.
Similarly, the Nikkei stock index is now trading around 10, just little over a quarter of its all-time high. Click on the buttons below to discuss or ask me any question about this topic on Twitter or Facebook and I will personally respond:Jul 17, · Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.
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Report of possible Tops Markets bankruptcy prompts union response.
Union says company is continuing to meet payroll and pension obligations despite reports of possible bankruptcy filing. AMH Group is pleased to announce it has had its proposal to build 12, homes for the Ministry of Transport employees in Basra and Baghdad accepted by the Minister of Transport.