HAPPY NEW YEAR

Japan's two lost decades

An end to the Japanese lesson

Dec 30th 2009
From The Economist print edition

Japan has taught the world a great deal about coping with the financial crisis. Now the West is on its own

Illustration by S. Kambayashi

“NEW Year rally expected on Tokyo market next week.” That was a typically boosterish Japanese newswire headline on December 29th 1989, the day that one of the world’s biggest ever asset-price bubbles reached bursting point. Exactly 20 years later the Japanese are still paying the price for such hubris (see article). The Nikkei 225 index, which peaked at 38,916, now languishes at just over one-quarter of that level (though once again there is talk of a New Year rally). Japan’s economy has barely grown in nominal terms after two “lost decades”, and is again suffering from deflation. Where Japan was once bearing down on America, it now feels the hot breath of China on its neck. Remember “Japan as Number One”? These days the country’s chief claim to fame is having a gross government debt burden approaching 200% of GDP. Read the whole story here...

Worst. Decade. Ever.

NYT~BEST OF 2009 SLIDE SHOW

Slide Show: Jerry Garrett's Top 10 Cars of 2009

This year's top new cars focus, more than before, on affordability, economy and sustainability.

Slide Show: Ezra Dyer's Top 10 Cars of 2009

While plenty of worthy, interesting cars were introduced this year, the advances were evolutionary rather than groundbreaking.

Slide Show: James G. Cobb's Top 10 Cars of 2009

In a year of high anxiety, car enthusiasts could take some comfort in going back to the basics.

Slide Show: Lawrence Ulrich's Top 10 Cars of 2009

More than a house, a car remains the most visible, desirable accessory of success.

Slide Show: 2010 Lincoln MKZ

Lincoln is aiming the MKZ at entry-level luxury buyers, but the car doesn't deliver all that it promises.

NEW YORK TIMES ~ Wheels

For One Reviewer, Prius Is the Year's Top Car

By JERRY GARRETT

The new Toyota Prius earns points for a more powerful engine, gets 50 miles a gallon and has solar panels on the roof to help cool the interior. But it's also a great value.

Snowstorm Chasing in an Audi R8

By EZRA DYER

The Audi R8 V-10, with a midengine layout and all-wheel drive, can tear around a racetrack. But how does it handle in an East Coast snowstorm?

Aston Martin Cygnet Available Only to Aston Owners

By PHIL PATTON

The Cygnet compact car is expected to be priced at around $35,000, which may seem low for an Aston Martin, but only existing Aston owners are eligible to buy one.

Lawyer Withdraws Cases Against Toyota

By CHRISTOPHER JENSEN

A Dallas lawyer who had filed a lawsuit to reopen 17 cases against the automaker has changed his mind after reviewing documents from Toyota.

Tokyo homeless shelter opens

Holiday substitute for '08 Hibiya Park tent city

By MARIKO KATO

Staff writer

A holiday-season shelter set up by the Tokyo Metropolitan Government opened Monday in Shibuya Ward to take in hundreds of laid-off workers. Read more here….

Japan's favorite hangover cures

Watermelon power: Suika No Chikara, compressed fermented watermelon

Making spirits bright through holiday shopping in Japan

Christmas is in the air, but Japanese salarymen see no reason to celebrate. Recent statistics said the average year-end bonus at major Japanese companies this year plunged by 15.01 percent to 755,628 yen, or around $8,400. It is also the first double-digit decline for winter bonuses and the sharpest year-on-year drop since the records began in 1959. Read the whole story here....

Christmas Greetings 2009

Christmas Blessings

to all of our friends

from all of us at Startline

How Panera Bread Defies the Recession

Ron Shaich, Panera Bread Co.'s CEO, shows off the variety of 

breads and pastries available in his stores on a daily basis.

Tom Gannam / AP

 

By SEAN GREGORY

The $1.3 billion soup and sandwich joint has thrived during down times. Read the story here......

 

Quotes of Note

"After playing around on motorbikes, I'm ready for the serious stuff."

Formula 1 driver MICHAEL SCHUMACHER,
ends three years in retirement, signing a one-year contract to drive in 2010 with Mercedes GP

F1 driver rescued from mountain

Former Formula 1 driver Ukyo Katayama has been rescued from the slopes of Japan's Mount Fuji, but two of his climbing companions are feared dead.
Katayama, 46, was walking down a trail at a height of about 2,200m on the 3,776m mountain when a rescue team from Shizuoka police found him.
Katayama told reporters he was "alright", but two others are missing feared dead in harsh weather.
Katayama drove in almost 100 Grands Prix in the 1990s.

Ukyo Katayama appeared in almost 100 Grands Prix in the 1990s

Experienced climber
Kyodo news agency reported that the driver made two calls for help to police - at 0100 (1700 GMT Thursday) and 0730 local time.
The messages said that one colleague "appeared to have died and another was in danger".
Katayama indicated that his companions' tents had blown away.
Kyodo named the missing pair as Eiichi Usami 43, and Toshio Horikawa, 34, who both work for Katayama's firm.
The temperature was reported to be -25C.
Katayama drove mainly for Tyrell in the 1990s, then switched to rallying before taking up his love of climbing.
He has scaled the summits of Mt McKinley, Kilimanjaro and a number of Himalayan peaks.

Rough Ride for Hatoyama After Landslide Election

By HIROKO TABUCHI
A growing deficit, a spat with Washington, a campaign finance investigation and broken promises: Prime Minister Yukio Hatoyama’s first 100 days in office in Japan have been anything but smooth. Read the story here...

WHEELS @ The New York Times

Solar Car Charging Comes to New York

By JIM MOTAVALLI

Solar and wind-farm company Beautiful Earth Group has built the city's first solar car charging station in Brooklyn.

Group Names Best and Worst Child Booster Seats

By CHERYL JENSEN

In a test of 60 booster seats, the Insurance Institute for Highway Safety gave 15 ratings of Best Buy and Good Buy, while revealing 11 seats to avoid.

In Germany, Turning Wallflowers Into Supercars

By NICK KURCZEWSKI

The 200-mile-per-hour Brabus GLK V-12 and 9ff GT9-R are proof that the German love for horsepower isn't slowing down.

When It Comes to Car Paint, Black Is the New Black

By PHIL PATTON

Henry Ford had it right. While silver is still the world's most popular color, the color black is making a comeback.

Slide Show: They Built Excitement

The mingling of power and glamour was Semon E. Knudsen's goal for all of Pontiac.