Toyota to Build Lexus Sedan at Kentucky Plant, Add 750 Jobs — DailyFinance

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Toyota to Build Lexus at Kentucky Plant, Add 750 Jobs

by The Press Updated Apr 19th 12:44PM Apr 19th 2013

Updated Apr 19th 2013

Lexus/AP A 2012 Lexus ES Toyota said Friday it to start building the luxury at its Georgetown, Ky. plant in 2015. Ky. — Toyota will building the Lexus ES 350 at a factory in Ky. starting in 2015, producing a brand vehicle for the first in the United States.

The Japanese car said Friday that the plant will build 50,000 of the flagship sedans year, creating 750 new jobs.

The plant currently assembles the Avalon and Venza models as as their hybrid counterparts. The already employs about people.

Toyota said it invest $360 million to the Lexus assembly line, Georgetown’s annual vehicle to 550,000 a year. The company the announcement at simultaneous news Friday in New York and Georgetown.

It is that the first country to the ES outside of Japan is the United Toyota Motor Corp. Akio Toyoda, the company’s top said in New York. This is the for Lexus. It was where the brand was and it is still the biggest market for the brand.

Toyota started the luxury brand in 1990 and has sold nearly 1.2 million ES in the U.S. Toyoda said.

Gov. Steve Beshear Toyota would invest a of $531 million in the Georgetown but the company gave no details of how the $171 million would be A top auto industry analyst he would be surprised if the company move more production to the

Michael Robinet, managing of IHS Automotive, a firm that auto production, said a million expansion should enough space to build more vehicles every Toyota, he said, likely has to add more models and employees in the

Fifty thousand [sedans] is a point, he said. I would be if for a half a billion dollars, the 50,000 didn’t turn between 100,000 and 150,000, he

The Kentucky Economic Development Authority approved $146.5 in state tax incentives on Wednesday to with the cost of the expansion.

The ES, a large midsize luxury is offered in conventional and gas-electric versions. Initially at least, the gas-powered cars will be in Kentucky.

The move is being to meet additional demand for the Sales have nearly so far this year compared 2012. Last year, ES rose 37 percent. Toyota just over 56,000 ES in the U.S. last year.

Jim Lentz, Toyota’s North CEO, said the investment is in to previously announced plans to $2 billion into factories in Indiana, West Virginia and in during the past 17 months, more than 4,000

Lentz has said Toyota Co. (TM ) would continue to move to North America as a hedge fluctuations in the value of the yen versus the The company now builds in North roughly 70 percent of the cars and it sells in the region, he said.

The yen had caused Japanese automakers to more cars in North But recently the yen has weakened against the dollar, helping Japanese Lentz said the weaker yen is term, and Toyota’s broader is to build where it sells.

also announced a new focus on design for the Lexus brand. Toyota and Lexus vehicles been praised for their but criticized for bland designs and

Toyoda said the decision to the ES in the United States was the first by a new team of executives in North and a management structure that them authority to make decisions.

Why is the battle between and Pepsi — two ultimately types of sugar water the most important struggle in the of capitalism? Simply put, rivalry transcends time, and culture.

It has divided restaurants, and nations. It has been waged in stadiums, and courtrooms. Its many soldiers include Santa Cindy Crawford, Michael Max Headroom, Bill Gates, and Cosby.

In 1886 an Atlanta introduced Coca-Cola, a tasty for mental and physical disorders. followed seven years though it would be decades two bankruptcies) before Coke the company in the way it had other competitive lawsuits.

Pepsi-Cola had made hay the Depression. Like Coke, the cost a nickel, but it came in a bottle nearly twice the of Coke’s dainty, wasp-waisted But by the 1950s, Pepsi was still a No. 2. It nabbed Alfred Steele, a Coke adman, who arrived and ambitious. His motto: Beat Coca-Cola refused to call by name — the drink was the the Enemy, or, generously, the Competition but it began tinkering with its (and imitating Pepsi) to ahead.

In 1979, for the first in the rivalry’s history, Pepsi Coke’s sales in supermarkets. It last, and by 1996, Fortune that the cola wars had Since then Pepsi, its increasing focus on health and has as good as surrendered. America’s two soft drinks? Coke and Coke.

Ford, founded in 1903, and GM, came along nine later, have been for 101 years. The epitome of crosstown — their headquarters are 11.5 miles apart they face off every day on lots and in motor sports. maintain operations to scour the new products.

In 2011, Ford chief Jim Farley was quoted as said, I hate them and they stand for. GM chairman and CEO Dan Akerson recommended holy water on ailing luxury brand Lincoln. over!

Hell hath no like a mentor scorned. In world-renowned inventor Thomas welcomed a brilliant young engineer named Nikola into his New York office. had been working on direct (DC) electricity in Edison’s division for a few years. Edison’s DC reigned supreme at the time. But had conceived of a new method using current (AC), which, DC, could transmit significant of power over long According to Tesla, Edison his ideas as a waste of time, not to dangerous given the high involved.

Tesla designed products for Edison, expecting to a promised $50,000 bonus for his (about $1 million today). But Tesla asked for his reward in the of 1885, Edison told him it had a joke all along. Tesla

He struck out on his own, securing and catching the interest of Pittsburgh titan George Westinghouse. had been quietly developing stations using AC. Learning of technology, he acquired his patents, the business might of the Westinghouse behind the inventor. And the war came.

he heard that Westinghouse was into the electricity business, ridiculed him. But it wasn’t before Edison was holding public demonstrations to discredit AC To make his point, he electrocuted cows, horses, even an He then put his name behind an to use AC to power the first electric The execution — which place in Auburn, N.Y. in 1890, lasted eight and required two attempts — was a affair. Westinghouse responded They could have it better with an axe.

Tesla’s AC technology won the war, but the rivalry morphed into one of the corporate battles in American A mega-merger of Edison General and Thomson-Houston in 1892 created GE Fortune 500 ), which went with Westinghouse. Long Edison and Tesla died, feud carried on until, in the GE chose the right CEO (Jack while Westinghouse chose successive wrong ones. By the 1990s, GE was the most valuable on earth. The original Westinghouse was no the current company with name is less than GE’s size.

Winner . Nikola Tesla

MCI seem like a giant at first. It was a startup that long-distance services via microwave to truck drivers. But chairman McGowan, a hard-living son of a railroad led his company to do just that. than duck Ma Bell’s (predatory pricing), MCI took her on, filing a case that lead to the monopoly’s breakup and an antitrust playbook that would use against Microsoft later. In 1980 a jury MCI $1.8 billion. Two years the government ruled Ma Bell a no more. David had slain

Blame it on the shoes. The battle Nike and Reebok lasted three decades and created athlete culture as we know it

Initially the two couldn’t have more different: Phil a former University of Oregon star and a Stanford MBA, his accounting career and formed a to import running shoes to the He named it Nike after the goddess of victory. Paul dropped out of Boston University to over his family’s sporting-goods He acquired the North American to British-made sneakers. Reebok, a of white-leather women’s aerobic named after an antelope, off as jogging became a national Fireman bought out the parent in 1984 and took Reebok the following year.

Nike, had risen to prominence by aggressively male customers and fostering a management culture, missed the for women’s sneakers. Reebok Nike in 1987 as the latter to catch up.

Eventually Nike momentum by signing the man who would the most iconic athlete of all Michael Jordan. Nike not just a hero athlete but a telegenic spokesperson who connected audiences. On the back of Jordan and the popularity of his Air Jordan brand, surged ahead. (Air sales eventually surpassed $1 annually.)

Reebok responded by Shaquille O’Neal, who once up to a meeting with Nike a jacket emblazoned with a Reebok logo — to the dismay of Nike executives.

At the Olympics, Jordan controversially a U.S. flag to hide the on the Reebok-sponsored tracksuits worn by the winning Dream Team. The delighted Knight, who baited further by contributing $25,000 to skater Tonya Harding’s fund after she was accused of a vicious attack on Nancy a Reebok athlete.

Nike to snap up the most popular including Andre Agassi, Sampras, and later Tiger making Reebok seem by comparison. In 2005, Adidas Reebok, but the new, combined is still a distant second to the juggernaut.

Bill Gates and Steve were as different as night and yet they had much in common. probably explains the bitterness of rivalry. The fruits of their The creation of the personal computer.

the differences: Gates was an upper-middle-class kid who to Harvard. Jobs grew up in a of modest means and didn’t many classes at Reed Deeply technical, Gates the code for Microsoft’s early himself. A born marketer enough technical chops to be Jobs relied on collaborator Wozniak to create the first computer. Gates was the poster for geeks everywhere. Jobs, was suave from the start. understood scale and leverage; grasped style and message. more charismatic figure, will have been on film by both Noah and Ashton Kutcher.) Gates and became the opposing poles of the growing computing revolution.

Toyota Lexus

all else, though, these understood business. Neither had training in the black arts of sheets and income statements. neither had graduated from Yet both were preternaturally about making a buck and how to stick it to the competition.

Gates the first two decades of their overseeing Windows’ rise as the default operating system. Jobs welcomed a $150 investment from Gates in when Apple (AAPL. 500 ) was looking death in the face. of the Macworld conference where the was announced booed Gates’ by video.) But during the last 15 of his life, Jobs flipped the on Gates, dominating beyond-the-PC like music players, and tablets — all areas of and mostly fruitless, investment by (MSFT. Fortune 500 )t. (Irked by perhaps, Gates’ wife, banned their children having iPods and iPhones in the

The two were known to trade barbs. Jobs diagnosed essential problem as a lack of Meanwhile, Gates summed up one of greatest achievements, the iPad, by simply, It’s okay.

seven months apart was older), they were in the years before Jobs Having fought each for so long, they knew than anyone what the had accomplished.

7. Venice vs. Genoa

The Maritime republics invented now familiar features of the business

It started with tax breaks. and Genoa sat out the feudal era because didn’t have the land to produce surpluses — is in a lagoon, and Genoa is hemmed in by But they were in the sweet for trade. By lending their to rulers fending off invaders, won special privileges to trade paying tariffs.

Around the end of the century, these conditions an astonishing boom that their feud. To raise the to assemble ships, crews, and traders came up with the of selling shares in their To spread the risk they marine insurance.

The demand for ships spurred the at the Venice Arsenale, of the largest complex in Europe before the Revolution. Builders there vessels using standardized on an assembly line — it was that they could a galley in a single day. even gave it a cameo in his .)

Eventually, to maintain clear there arose a sublime double-entry bookkeeping. Goethe may been into the schnapps he (reputedly) said that bookkeeping is one of the most beautiful of the human spirit, but you can see what he was at. Without the concepts of credito and and the balance sheet, modern wouldn’t be possible.

Hewlett-Packards’ over IBM has not been particularly In 2006 it surpassed IBM in revenues, a it has maintained. But revenues are not the only of success.

Since the earliest of IT, they have been opposites: HP seeded the engineering-heavy of contemporary Silicon Valley. iconic Thomas Watson was salesman than scientist.

HP Fortune 500 ) has had more CEOs in a than IBM (IBM. Fortune 500 ) has had the end of the Watson family reign. IBM from five-year plans, HP is fond of aggressive moves.

about more than The $160 billion aviation is pivotal to national economies and of jobs, not to mention civic

Boeing once dominated, but a subsidiary of Franco-German defense EADS, edged out a lead in Political tensions have run hot Trade officials on both are fond of scathing op-eds and statements alleging malfeasance.

sides have a point. A leak revealed a personal from President George W. to Saudi Arabia’s King urging the purchase of Boeing And Airbus has received billions in

As Boeing deals with 787 delays, Airbus has taken to its planes with a Pinocchio Ouch.

Abraham Lincoln off the race in 1862. The Union Railroad started building from Omaha while the Pacific Railroad built from Sacramento. They meet in Utah, each land and U.S. bonds per of track built.

Bad blood all the way down to the workers, exacerbated by tension. Pacific used immigrant labor; Union was by Irishmen. Many died the breakneck pace required to the other. (TNT explosions help things much.)

In trains from both touched noses, and then one the other to continue across the The race ended, their dissolved.

McDonald’s Corp (MCD. 500 ). founder Ray Kroc summed up the of the fast food business when he said of his competitors, If were drowning to death, put the hose in their mouth. In the restaurant industry, no two brands waged war over customer as publicly as McDonald’s and Burger The rivalry dates back to the century as both companies on the national scene, battling for and franchisees.

The burger business is all share of stomach. There are so many ways you can innovate it comes to a hamburger, so copying ideas is standard practice. the Big Mac, which was launched in as McDonald’s answer to the Whopper. King introduced the Whopper in when, after realizing it compete with McDonald’s 15 hamburger, it decided the solution was to a bigger burger for 37 cents. King declared all-out war in by launching an advertising campaign claimed customers preferred the to McDonald’s and Wendy’s. Both countered by suing for false and advertising. In 1997, the Home of the again took on the Golden — this time its with the tagline the taste beats McDonald’s. McDonald’s back with its own advertising


The heated rivalry cooled as King suffered a revolving of CEOs and owners, which McDonald’s gain more In 2011, for the first time Wendy’s surpassed Burger to become the No. 2 burger chain by In America, McDonald’s has won, Andrew Smith, who teaches history at the New School. But don’t Burger King out just In February the chain got into the fast food battle, Wars, when it announced a of coffee-based drinks like through a partnership with (SBUX. Fortune 500 ) Seattle’s Coffee brand.

Toyota Lexus
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