REPORT: Japan's Toyota City hurting as troubled economy, industry takes hold
Because the city's well-being rises and falls right along with the automaker that it is so dependent on, Toyota City's finances are looking pretty dire for the upcoming year, with a projected drop in corporate tax collections of 96.3 percent. Interestingly, city officials have found an American analog with which to compare themselves: Detroit.
Norio Seki, general director of the city's industrial labor division, says of Detroit, "I'd like to know how they handle unemployment at this scale. I'd like to know what other industries they are looking into. How can you use the technology used in the auto industry for other kinds of enterprises?"
Perhaps Toyota can let Detroit know when figures that one out.
[Source: Los Angeles Times]
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