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Japan Reconstruction

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NEWS
June 17, 1995 | TERESA WATANABE, TIMES STAFF WRITER
From a panoramic view on the 16th floor of Kobe City Hall, this western port city devastated by a terrifying tremor five months ago today appears well on the road to repair. To the south, giant orange cranes are back in operation at Kobe's world-famous port, lifting cargo containers onto ships from around the world. With port traffic back up to 40% of pre-quake levels and total recovery expected by the end of next year, renovation is moving along at about the clip originally projected.
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NEWS
June 17, 1995 | TERESA WATANABE, TIMES STAFF WRITER
From a panoramic view on the 16th floor of Kobe City Hall, this western port city devastated by a terrifying tremor five months ago today appears well on the road to repair. To the south, giant orange cranes are back in operation at Kobe's world-famous port, lifting cargo containers onto ships from around the world. With port traffic back up to 40% of pre-quake levels and total recovery expected by the end of next year, renovation is moving along at about the clip originally projected.
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NEWS
January 23, 1995 | DAVID HOLLEY and SAM JAMESON, TIMES STAFF WRITERS
With electricity available almost everywhere and water at last reaching half the homes, this earthquake-devastated city took a first step toward normalcy today as crowds of commuters headed to work and children returned to school. "People bringing food from Osaka are coming in by train, buses are running to Nishinomiya (a nearby city where direct trains to Osaka are functioning), and boats are available to Osaka.
NEWS
January 23, 1995 | DAVID HOLLEY and SAM JAMESON, TIMES STAFF WRITERS
With electricity available almost everywhere and water at last reaching half the homes, this earthquake-devastated city took a first step toward normalcy today as crowds of commuters headed to work and children returned to school. "People bringing food from Osaka are coming in by train, buses are running to Nishinomiya (a nearby city where direct trains to Osaka are functioning), and boats are available to Osaka.
NEWS
January 18, 1995 | DAVID HOLLEY, TIMES STAFF WRITER
The killer earthquake that hit western Japan on Tuesday caused immense damage likely to run into tens of billions of dollars, but the reconstruction effort should give a boost to economic growth, analysts said. "These sorts of things bring out the worst in economists, because a disaster is good for economic growth as long as someone is willing to pay for rebuilding," said Jesper Koll, head of economic and markets research for J.P. Morgan Securities Asia Ltd.
BUSINESS
February 26, 2000 | (Washington Post)
The head of a key Japanese bank reform agency was forced from office after opposition politicians released a tape recording of him offering to shield weak financial institutions from scrutiny by government auditors. The abrupt departure of Michio Ochi was precipitated by a speech last week in which he promised to give his "utmost consideration" to lenders who complain that auditors are being too tough. Ochi had been named chief of Japan's Financial Reconstruction Commission last fall.
BUSINESS
January 19, 1989 | From Times Wire Services
The Japanese Cabinet approved a $491.8-billion budget for fiscal 1989 today that holds defense spending to less than 1% of the gross national product and makes Japan the world's top donor of foreign aid. Japan's booming economy has increased tax revenue, allowing the government to boost spending by 6.6% in 1989, the highest budget increase in seven years.
BUSINESS
October 21, 2000 | From Associated Press
The Japanese government's top financial regulator moved quickly to calm nerves Friday after Japan's 11th-largest life insurer became the country's biggest corporate failure since the end of World War II. "I haven't heard of any other life insurers that are in trouble," Hideyuki Aizawa, chief of Japan's Financial Reconstruction Commission, told reporters shortly after Kyoei Life Insurance Co. filed for protection from its creditors.
OPINION
April 7, 1991 | Excerpts from newspapers and magazines around the Pacific Rim.
JAPAN "Japan lends money to America so its people can maintain living standards three times higher than ours." --Comedian Tokoro Joji, quoted in Shukan Bunshun "The gaps between our living standards and those in the United States and Western Europe have been widening unfavorably for us over the years. Management should give us working people a much bigger share of Japan's economic pie."
NEWS
May 13, 1996 | DAVID HOLLEY, TIMES STAFF WRITER
During Japan's go-go years of rapid economic growth, struggling artists used to get jobs with flush corporations whose executives were redecorating their offices. The artists' money would thus trickle down to Hideki Takuma's little gallery, where they rented space. Now such lavish corporate spending is rare, and Takuma has half the clients he once had. For him and many others, Japan's worst post-World War II recession, which began in 1990, feels never-ending. But it has ended.
NEWS
January 18, 1995 | DAVID HOLLEY, TIMES STAFF WRITER
The killer earthquake that hit western Japan on Tuesday caused immense damage likely to run into tens of billions of dollars, but the reconstruction effort should give a boost to economic growth, analysts said. "These sorts of things bring out the worst in economists, because a disaster is good for economic growth as long as someone is willing to pay for rebuilding," said Jesper Koll, head of economic and markets research for J.P. Morgan Securities Asia Ltd.
BUSINESS
June 2, 1996 | EVELYN IRITANI, TIMES STAFF WRITER
Auto dealer Toshio Nakano's idea of a Hawaiian vacation isn't the typical tour of white sandy beaches and lush green golf courses. When he took 20 salesmen to Honolulu earlier this month, he put them in rented Ford cars and gave them a map of the island. Their assignment: to drive like Americans. Nakano is making sure the sales staff at his two Ford showrooms in Tokyo knows more than just the fuel economy, engine size and upholstery options for the Ford Mondeo sedan and Taurus station wagon.
BUSINESS
June 12, 2000 | MARK MAGNIER, TIMES STAFF WRITER
Can Softbank Corp. turn debentures into ventures? That's the question analysts are pondering as they struggle to evaluate the Internet investment company's latest move--last week's agreement to acquire Japan's failed Nippon Credit Bank. While many details are sketchy, Softbank and its partners will pay $939 million for approximately 80% of NCB. Softbank will take close to 50%, with leasing company Orix and Tokio Marine and Fire Insurance Co. each receiving a little less than 15%.
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