Reuters blog archive
from David Cay Johnston:
SEOUL -- In March, the United States and South Korea implemented a Free Trade Agreement that President Barack Obama touts as more significant than the last nine such agreements combined. He also said it was central to his goal of doubling American exports within five years.
I think the president suffers from irrational trade exuberance, a view reinforced by my reporting in this city of 10 million people.
This deal is likely to turn out badly for American taxpayers and workers, especially autoworkers.
The president predicted 70,000 American jobs would be created as U.S. exports to South Korea grow faster than imports.
from Shop Talk:
Advertising during the Super Bowl doesn't score for Mazda.
While the Japanese automaker plans to boost its marketing budget this year as it launches the Mazda 2 small car, running TV ads during the National Football League's championship game in February won't happen.
"You're never going to see us on Super Bowl," Mazda North American chief Jim O'Sullivan said at the Detroit auto show. "We're not going to spend that kind of money on that kind of property because, yeah, you get a lot of impressions and stuff out there, but the fact of the matter is, do you really get to the target you really wanted? That's more of a feel-good ad for a lot of people."
from Shop Talk:
Consumer Reports magazine's senior director for automotive testing, Dave Champion, sat down with correspondents Bernie Woodall and Ben Klayman at the Detroit auto show to discuss the U.S. auto industry, including Toyota's future, the changing nature of the show, small cars and Chrysler.
"Toyota's grown incredibly quickly; not only in the number of vehicles that they sell but also in the number of vehicles that they produce. They have a range of vehicles now that's extremely wide. What Toyota used to have was a great attention to detail on every single part that went into the car and a real focus, very tightly, on the product. Now, with so many different variants and iterations and models, it was very difficult to keep that same focus and that same attention to detail on all the products."