May 2010 Archives

This obviously hurt Elon Musk's reputation as a businessman. But you have to give credit to a guy who puts it all on the line for taking chances to advance technologies, whether it's electric cars or low-cost rockets.

SpaceX, which develops low-cost rockets, is based in Hawthorne.

Tesla's Elon Musk: "I ran out of cash"

(Venture) Tesla Motors CEO Elon Musk seems to have it all. The electric-car entrepreneur is the toast of Silicon Valley, Sacramento, and Tokyo after unveiling a plan to revive Toyota's shuttered NUMMI plant last week. And deal-hungry Wall Street bankers are angling to take his company public. He's even a Hollywood star, with a cameo in the hit Iron Man 2 movie, said to be based on his life story.

The one thing he doesn't have, by his own admission, is money.

Some will take offense to any suggestion that America is anything like the war-torn African nation of Somalia. But that's what I do in today's Business Casual column.

The countries are worlds apart in many ways. But the ongoing Gulf oil spill reminds us that we are not that different.

Here's how the column starts.

Deadly toxins continue to poison the sea, further fouling a fragile coastal ecosystem and economy - the consequences of irresponsible business practices and weak government oversight.

Sounds like BP's massive oil spill in the Gulf Coast.

It also describes what has been going on in Somalia for the past two decades.

Read the whole Business Casual column.

This probably isn't too serious. But given what's going on on the Gulf Coast, it's good to be aware of what's happening in the local oil industry.

Chevron reports El Segundo pump failure - filing

NEW YORK, May 27 (Reuters) - Chevron Corp. reported a pump failure late Wednesday at its 260,00 barrel-per-day El Segundo, California, oil refinery, according to a company filing with state environmental regulators.

Read more on Chevron's pump failure.

Space Exploration Technologies, dubbed SpaceX, the Hawthorne-based developer of low-cost rockets, said that it expects to be forced to delay its May 28-29 test launch of the Falcon 9.

Here's the message SpaceX sent out Wednesday:

Looks like the delay of the Delta IV GPS satellite launch has taken up a lot of resources at the Cape and in turn pushed the first test launch of Falcon 9 from May 28/29 to no earlier than June 2/3. Will keep you posted, let me know if you have questions--thanks! Emily

Hybrid technology in the auot industry is unstoppable. In 10 years, gas-electric technology could be totally mainstream in the U.S. In Japan, the Prius is already the top-selling car.

Toyota Is Working on a Seven-Seat Prius

(HybridCars.com) For more than year, we've heard rumors and hints about a family of Priuses. But we haven't had any details about what a Toyota Prius SUV, minivan or compact car would look like--until now. Motor Trend is reporting that a slightly stretched Prius--badged as Alpha--is in the works.

Read more on the Prius 7-seater.

You have to give Pacific Gas & Electric for spunk and nerve. The utility is trying to pass a ballot measure in California that could hurt residents.

Here's how I start my Business Casual column:

One of the best ways to become successful is to emulate those who have already achieved success.

Read the rest of Business Casual.

Toyota's attempts at PR may be creating another PR nightmare.

Toyota acceleration inquiry not focused on mechanics, panel contends

(WashPost) Toyota's investigation into the causes of unintended acceleration in its cars appears to have been aimed less at identifying the root problem than at public relations, congressional investigators charged on Thursday.

Read more on Toyota's recall troubles.

A survey out today found that 44% of workers have gained weight in their current job, up slightly from 43% in 2009, as the economy is having a negative effect on waist lines. And women gained more weight than men.

Nearly a third (32%) of workers say that stress contributed to their weight gain at work, accoridng to the CareerBuilder survey.

Here are some other highlights from the survey:

- More than one-quarter (28%) of employees report they have gained more than 10 pounds and 12% say they gained more than 20 pounds while in their present positions.

- Comparing genders, women were more likely to put on weight than men and were more likely to gain a higher amount of pounds. Half of female workers (50%) say they have gained weight in their current position, compared to 39% of their male counterparts.

- Thirty percent of women gained more than 10 pounds compared to 23% of men.

This'll make you forget all about Toyota's recalls ... at least for a while.

Honda, whose U.S. headquarters is in Torrance, seems to be benefiting from Toyota's troubles. However, it's easy for American consumers to lump Honda and Toyota together, thereby hurting Honda's image.
Time will tell.

Survey: Honda perceived to be tops in customer, quality commitment

(ConsumerReports.com) Among seven major auto brands, consumers consider Honda to be the most committed to customers and to product quality. Ford ranked second, followed by Nissan, Chevrolet, and Toyota, based on a new survey by the Consumer Reports National Research Center. Hyundai and Chrysler trailed the others by a significant margin.

Read more on Honda's rise.

The delicate balance between news and ads in a newspaper could be thrown out the window as these vital publications look for new ways to make money amid a changing media landscape.
So how does that affect a journalist like me?
Read today's Business Casual column to find out.

Here's how I start the column:

Want to have a good time?

I mean a really good time?
Then read the Daily Breeze Business section online.

This is only borderline business, but it's still an interesting news item from New York Magazine.

Toyota Is More Popular Than Either Party

A new WSJ/NBC News poll shows the Republican Party "in position for a strong comeback in November's mid-term campaign," The Wall Street Journal trumpets today.

Read more on how Toyota compares to our two major political parties.

It was obvious Toyota wouldn't continue to lose money for long. The company's too darn strong, recent vehicle recalls notwithstanding.

Toyota quarterly profit $1.2 bln as sales recover

(AP) TOKYO -- Toyota cruised back to profit in the latest quarter as the world's top carmaker cut costs and hitched a ride on the global auto sales recovery while fighting to salvage its reputation for quality.

But the automaker's top executive and analysts alike said Toyota is still far from a full recovery while another potential blow to its image looms after U.S. federal authorities launched a fresh investigation into a steering recall.

Read more on Toyota's profit.

Stocks have been so erratic lately that I wouldn't be surprised by anything that happens on Wall Street.

Anyway, here's the piece (wth video) on prediction that the Dow will hit 8,500 before it hits 11,500.

Here's the start of this week's Business Casual column.

If artists could afford powerful lobbyists, the local scenery may be much different.

Think anti-war sculptures of people butchering each other or socially provocative murals of individuals engaged in otherwise dramatic behavior.

$50,000 seems like a lot but I'm surprised Toyota could get the price so low, considering the technology is incredibly advanced. Toyota won't be making any money on these cars to start out, I'm sure.

Toyota Targets $50,000 Range for Hydrogen Sedan Due by 2015

May 6 (Bloomberg) -- Toyota Motor Corp., the biggest seller of hybrid cars, said it has cut the cost of making fuel-cell vehicles by about 90 percent since the mid-2000s and may be able to price its first retail hydrogen model at about $50,000.

The first model will be a sedan with driving range equal to a gasoline-powered car, "with some extra cost," Yoshihiko Masuda, Toyota's managing director for advanced autos, said in an interview. The Japanese carmaker has cut production costs to about one-tenth of earlier estimates that ran as high as $1 million per car and would need to cut current costs by about half before starting retail sales, he said.

Read more on Toyota's hydrogen sedan.

Toyota owners are trading in their vehicles for the same brand at a higher rate than the owners of any other vehicle brand.

This is an extraordinary feat for a company that has been battered so badly over its recalls of more han 8 million vehicles worldwide for unexpected acceleration problems and brading issues.

Here's the story on Toyota owner's loyalty.

From Robert Half of Robert Half International, a professional staffing and consulting firm:

- Put on your best "face": Don't publically post anything that would appear unprofessional to a hiring manager or recruiter on sites such as Facebook or Twitter. Use your privacy settings when posting personal information.

- Think big: Spread the word about your job hunt to everyone you know. Take advantage of professional networking websites such as LinkedIn, and work with staffing firms that specialize in your field.

- Start now: Don't postpone your job search. Instead, start looking for work as soon as possible. Also, spend your time productively during the search: Employers will ask what you have been doing while unemployed. Seeking out additional training, temporary work and pro bono projects shows initiative.

- Tailor to the opportunity: Customize each resume and cover letter to the particular job opening, and obtain the name of the hiring manager so you can personalize your cover letter.

- Sweat the small stuff: Make sure your resume and cover letter, and any additional communications during the job search, are error-free. Be vigilant about spelling, grammar and punctuation in all written communication, including thank-you notes.

- Make the first impression a good one: Keep voice-mail greetings clear, professional and succinct. Also, avoid using off-color or overly cute e-mail addresses.

- Ask for the job: If an interview has gone well, consider proposing that you assume the position on a trial basis. Cautious employers may be more inclined to hire you if you both can test the waters before a full-time offer is extended.

Japan and America have a lot in common, but American culture has caused us to be much more scrappy when it comes to standing up to powerful figures and institutions.

Activist icon laments Toyota's easy ride in Japan

(AP) KAMAKURA, Japan -- Japan's most famous consumer activist is watching the safety problems enveloping Toyota with a sense of frustration.

For decades, Fumio Matsuda took on the country's powerful carmakers, bringing his engineering expertise to landmark court battles that won damages for consumers and led companies to make their vehicles safer.

Yet his success has yet to inspire a new generation of Japanese consumer advocates, and few have been willing to stand up to Toyota in courts of law or public opinion.

Read more on Toyota's problems.