A Toyota history

February 10th, 2008

Seventy years since its founding, Toyota Motor is almost at the pinnacle of the global auto industry, having overtaken Ford Motor and General Motors in vehicle sales.

The Japanese automaker now has 40 vehicle assembly plants around the world and 12 research, development and design centers. It employs 310,000 people.

Here is a chronology of key events and milestones in Toyotas history:

1933 - Automobile department established within textile loom maker Toyoda Automatic Loom Works, now known as Toyota Industries, founded by Sakichi Toyoda, an inventor.

1935 - First vehicle, the Model G1 truck, built. First Toyota dealership established.

1936 - Production starts of its first car, the Model AA.

1957 - Crown becomes first passenger car made in Japan to be exported to the United States.

1962 - First overseas vehicle plant, in Brazil.

1964 - First Asian vehicle plant outside Japan, in Thailand.

1972 - Cumulative production in Japan reaches 10 million vehicles.

1984 - Toyotas first U.S. car assembly plant, a joint venture with General Motors, opens in California.

1989 - Toyota starts luxury Lexus brand in North America.

1992 - First European car plant begins production in Britain.

1997 - Prius, the first mass-produced hybrid car, offered.

1998 - Toyota takes majority stake in minivehicle maker Daihatsu Motor.

1999 - 100 millionth Toyota vehicle produced in Japan.

2001 - Toyota takes majority stake in truck maker Hino Motors.

2003 - Toyota makes 6.78 million vehicles and overtakes Ford Motor in annual sales to become world No. 2 behind General Motors.

2005 - Toyota takes minority stake in Fuji Heavy Industries, maker of Subaru cars, for cooperation in vehicle technology development and use of its U.S. factory.

2006 - Toyota takes minority stake in truck maker Isuzu Motors to beef up diesel engine technology.

2006 - Toyotas group global sales of 8.808 million vehicles exceeds GMs by 128,000, making it the worlds biggest automaker, authoritative industry magazine Automotive News says (this figure excludes cars made by a Chinese joint venture in which GM holds a minority stake).

THE WEEK’S WINNERS AND LOSERS

February 10th, 2008

February 10, 2008 — WINNERS BOB IGER

Disney shares run higher after CEO guides media giant to better-thanexpected first-quarter profit.

LARRY SILVERSTEIN

Developer tries to get the inside track to purchase trophy GM Building from embattled Harry Macklowe.

ANDREW CUOMO

New York AG keeps the heat on ratings agencies in subprime probe.

LOSERS DAVID LI

Former Dow Jones director and three others agree to pay $24M fine over insider trading charges.

ERIC SCHMIDT

As rivals Microsoft and Yahoo! dance to merger music, Google boss sees shares slump badly.

DON HORTON

CEO of country’s No. 1 homebuilder reports first-quarter loss as it writes off bad inventory.

BUD’S UNDER FIRE

February 10th, 2008

February 10, 2008 — The chairman and CEO of Oppenheimer & Co. personally ordered the firing of a low-level female employee who had made written complaints about being sexually harassed by a senior executive, according to bombshell new charges leveled in a long-simmering federal court lawsuit filed by the woman.

Albert G. “Bud” Lowenthal, 62, the longtime CEO and majority owner of Wall Street broker Oppenheimer, ordered the firing of the woman to placate close friend and company general counsel, Eric Shames, according to Oppenheimer’s then-Human Resources director.

“I want her gone by the close of business today,” Lowenthal yelled into the phone, Kathi Coakley, the former HR chief said in an affidavit attached to the sexual harassment and discrimination lawsuit.

The woman, Josephine Chapple, filed suit against Oppenheimer, Robert Pelham, its branch office manager, and Shames accusing the duo and company of sexual harassment and sexual discrimination.

Chapple’s lawyer, Michael Mangan, is seeking to add Lowenthal as a defendant after the recent testimony by Coakley fingered the CEO of the publicly-traded company as the person behind the firing.

“Bud, is Eric Shames in your office right now?” Coakley asked Lowenthal during a dramatic telephone showdown, according to court papers.

“Yes,” Lowenthal replied.

“Bud, after Eric leaves your office may I please have five minutes of your time to discuss this situation with you?” Coakley asked, court papers allege.

“No!” Lowenthal yelled.

A spokesman for Oppenheimer said “there is no legal basis whatsoever to support [Chapple’s] motion,” and we have so informed the court.

“This is nothing more than a desperate trial tactic that substitutes fiction for fact, and we fully expect the court to see this tactic for what it is and dismiss the motion,” he said.

Coakley, in her deposition, included in recent court filings, said she tried to warn Lowenthal that the firing of Chapple was wrong but that the CEO cut her off. >PAGE 1>