December 18, 2024

Kazuo Inamori, Major Industrialist in Postwar Japan, Dies at 90

Kazuo Inamori was born on Jan. 30, 1932, in Kagoshima, a seaside city on Japan’s Kyushu Island, the second of seven children of Keiichi and Kimi Inamori. As the story is told in Japan, when Kazuo was a child, his father’s printing shop was firebombed in the last days of World War II. When the boy, at 13, was bedridden with tuberculosis, a neighbor lent him a book that sparked his interest in religion.

After earning a chemical engineering degree from Kagoshima University, Mr. Inamori joined a small ceramics company in Kyoto as a researcher, but left to begin his own concern after a disagreement with management. He started the business with just $10,000, armed with his own formula for a material to make ceramic insulators for televisions. He soon had his employees swear a blood oath that they would “work for the benefit of the world’s people,” he recounted in the book “From Zero to Kyocera: A Company Philosophy to Grow People and Organizations” (2020).

The business, then called Kyoto Ceramic Company, got its first big break when it received an order to make resistor rods for the Apollo space program. It went on to become one of the world’s top suppliers of high-tech ceramics, making everything from razor sharp knives to casings for Intel computer chips and expanding into other products, including solar panels and mobile phones.

While the business never made Kyocera a household name outside of Japan, it did make Mr. Inamori fabulously wealthy and brought him a level of prestige and influence in his country that few could equal.

In 1984, after Japan ended the government monopoly on the telecommunications industry, he founded a second firm, DDI, a long-distance carrier that quickly broke the market dominance of formerly state-owned NTT.

Around the same time, reaching beyond the world of industry, Mr. Inamori devoted more than $80 million to establishing the Kyoto Prize, an award recognizing the most important advancement in the sciences, arts, technology and philosophy.

Article source: https://www.nytimes.com/2022/09/02/business/kazuo-inamori-dead.html

Price Cap on Russian Oil Wins Backing of G7 Ministers

The proposal still faces considerable obstacles.

The European Union will have to amend a package of sanctions that is set to take effect on Dec. 5 to incorporate the price cap; that will require the unanimous agreement of all 27 member states.

Biden administration officials are growing increasingly confident that they will be able to galvanize an international effort to impose the price cap, in part because of the progress at the G7. But they say bringing all member countries of the European Union on board for the plan will be more difficult. The G7 had already agreed to explore the concept of a price cap at a leaders’ summit in the German Alps in June. But European countries like Hungary — which previously pushed for the oil they buy from Russia via pipeline to be exempted from Europe’s import ban — have not yet agreed on such a plan.

Energy analysts have been skeptical that a price cap can corral oil prices. The maritime insurance industry, which would be responsible for making sure that buyers and sellers were honoring the price cap, has warned that insurers lack the capacity to police the transactions.

In addition, while the United States and Europe have moved to cut themselves off from Russian oil, nations such as China and India have been buying it at heavily discounted prices. That has allowed Mr. Putin to support his economy despite global sanctions that have been imposed on its central bank, financial sector and military industry.

The United States has been working to broaden the coalition beyond the Group of 7, actively courting the support of nations such as South Korea and India. Last month, Ms. Yellen’s deputy, Wally Adeyemo, met with counterparts in India to discuss global energy security and promote the price cap concept.

Biden administration officials hope that if a broad enough coalition agrees to the price cap, it would give nations that do not want to officially join more bargaining power to negotiate lower prices with Russia.

Article source: https://www.nytimes.com/2022/09/02/business/economy/g7-russian-oil-price-cap.html

In California’s Housing Fight, It’s Newsom vs. NIMBY

As affordable housing problems spread, California’s enforcement kick could be an indication of an increasingly pitched battle between cities and states over housing. It also gives a clue into how Mr. Newsom might defend himself from political attacks over California’s housing and homelessness problems, something that is all but guaranteed to happen if he seeks higher office. (A Newsom run for the Democratic presidential nomination in 2024 is currently the stuff of political parlor games, and despite the chatter, the governor and everyone in his camp dismiss such ambitions.)

In the interview, Mr. Elliott, the housing adviser, noted that the advantage the governor has in enforcing tough housing measures is that he draws votes from around the state instead of locally. The administration can play the heavy in a local dispute without having to worry about alienating its entire voting base.

“It’s very logical, politically, for an individual city council person or an individual member of a board of supervisors to be against an individual project,” he said. “I think the job of the state is to change the political calculus so ‘yes’ becomes the default instead of ‘no.’”

There is already some indication that years of state housing bills, combined with rising voter frustrations, have started to create such a shift. When the state housing department opened its investigation into San Francisco in August, London Breed, the city’s mayor, welcomed it with a tweet.

“When I ran in 2018, it was a vulnerability to be an unapologetically pro-housing candidate,” said Buffy Wicks, a Democratic assembly member from Oakland who wrote one of the two main housing bills passed by the legislature this week. “Now it is absolutely an asset. I get up on the floor of the assembly and I say, 10 times a week, ‘We have to build more housing in our communities, all of our communities need more housing, we need low-income, middle-income, market rate.’ You couldn’t do that in a comfortable way four years ago.”

Cities seem to have absorbed the new reality of a state on closer watch. Last year, after the legislature passed the duplex law, dozens of cities responded by adopting a slew of new ordinances that don’t explicitly prohibit the units but, through a series of tiny rules, tried to discourage anyone from actually building them.

Article source: https://www.nytimes.com/2022/09/01/business/economy/california-nimbys-housing.html

‘The Lord of the Rings: The Rings of Power’ Is Shiny but Not Yet Precious

And the show’s differences from the books may be less significant here than their differences from Jackson’s movies. A multiseason series can’t live in the operatic intensity of a fantasy film; it needs to build a world, evolve character and develop story arcs over time.

So as Galadriel seeks allies in her hunt for Sauron, the two premiere episodes, directed luminously by J.A. Bayona, establish several story lines with Entish deliberateness. (Númenor, the Atlantis-like kingdom of humans whose rise and fall dominates the Second Age, doesn’t even figure into the opening hours.)

The ruling elves, who live in a series of Thomas Kinkade paintings, have their own ambitions. These involve sending Elrond to negotiate a pact with Durin (Owain Arthur), the gruff dwarf prince of Khazad-dûm — in the films, a ruin with a nasty Balrog infestation but here a thriving, cavernous marvel. And in an outpost deep in human country, the elf warrior Arondir (Ismael Cruz Córdova) nurses a forbidden crush on a mortal healer, Bronwyn (Nazanin Boniadi), whose downtrodden neighbors picked Sauron’s side in the last war.

So far, so high-fantasy. But as Tolkien realized, without characters of human scale (or smaller) that have the spark of personality, the doings of the high and mighty risk becoming stiff. (This is a lesson so far lost on HBO’s “House of the Dragon,” which practically begs for an Arya Stark or Hot Pie to cut the genealogical grimness.)

That’s where the hobbits come in — or here, the Harfoots, a woodsy, secretive, nomadic band of small wanderers who live more precariously than their domesticated descendants did in Bilbo’s Shire. Nori Brandyfoot (Markella Kavenagh) is a variation on another Tolkien type: the young dreamer who longs for adventures. One day, fate serves one up in the form of a meteor. In its burning crater she finds a mysterious stranger (Daniel Weyman) with wizardly tendencies, whose identity remains a riddle. (Speak, friend, if you have a guess.)

Article source: https://www.nytimes.com/2022/09/01/arts/television/the-rings-of-power-lotr-review.html

Republicans Downplay Trump and Abortion on Their Sites Before Midterms

“We face a female opponent, so we’ve added prominent female politicians who have endorsed Ted,” Mr. Felts said. (Mr. Budd’s Democratic opponent is Cheri Beasley, a former chief justice of the North Carolina Supreme Court.)

Other differences have been more subtle. Mr. Budd, for example, has made no changes to a page that outlines his views on abortion, but he has moved the link to that page lower on his website’s list of his positions; it was second as of July 23, but is now fifth.

J.D. Vance, the Republican Senate nominee in Ohio, once listed abortion sixth on his “issues” page, but now lists it 10th.

Sometime between Aug. 7 and Aug. 26, Mr. Vance also expanded his abortion language on that page to emphasize government support — including an expanded child tax credit — to ensure “that every young mother has the resources to bring new life into the world.” He has made no changes, however, to his description of himself as “100 percent pro-life.”

Recent polls and elections underscore the dangers of the current political environment for Republicans. Since the Supreme Court overturned Roe v. Wade in June and abortion bans took effect in many states, Democrats have exceeded expectations in four special House elections, and Kansans decisively rejected a constitutional amendment that would have paved the way for an abortion ban or major restrictions.

And now, the widening F.B.I. investigation of Mr. Trump’s handling of classified documents is shining a light on the former president when Republicans would rather have voters focus on the current one.

Article source: https://www.nytimes.com/2022/08/31/us/politics/abortion-trump-gop-midterms.html

Zach Sang, the Ryan Seacrest of the Youth, Wants to Save Radio

“I’ve been going through a deep depression the last few months,” he continued. “And my friends, who are some of the most famous people in the world, send me 77 texts until I answer. The night of my last show, Joshua Bassett showed up at my studio within 40 minutes, on the night before New Year’s Eve, to be with me while I literally cried on the floor of my studio. And then after that, who was there for me was Ariana, who was on me to figure out what my next step was.”

Losing his syndicated show forced him to assess whether he was in the business of radio, or the business of Zach Sang. When his contract ended, he’d already been having conversations with Amazon for a few months, and he began to see Amp as an opportunity to spread his gospel of the power of radio even more widely.

The very nature of radio is changing and has been for the past two decades. First came the rise of satellite radio, which jeopardized local specificity. Same went for market consolidation. Finally, the ascension of the internet, especially as a facilitator for livestreaming and playlists, threatens — or maybe promises — to undermine the primacy of radio as a delivery system for new music. By July, Sang and his team had relocated to a more substantial studio, the one that Rick Dees, the countdown show kingpin, previously used to broadcast out of. But even though Sang knew how to operate all of the fancy equipment in the room, the entire show was run off his iPad.

“The way I view a microphone at this point in my life is, when I lost the show, it’s like I lost every friend I’ve ever made,” he said, in between playing Beyoncé songs. “It’s about regaining chemistry — it takes time. People find out every day we’re not on the radio.”

He referred to the Sang universe as a “friend group” — the combination of the characters with him in the studio and the listeners.

Article source: https://www.nytimes.com/2022/08/31/arts/music/zach-sang-radio-amazon-amp.html

Washington Post’s Business Struggles as Frustrations Mount

Mr. Bezos is still engaged, however, weighing in during budgeting season and participating in calls. He declined to comment for this article, but the Post spokeswoman said any suggestion that Mr. Bezos had become less interested in The Post was “absolutely false.”


What we consider before using anonymous sources. How do the sources know the information? What’s their motivation for telling us? Have they proved reliable in the past? Can we corroborate the information? Even with these questions satisfied, The Times uses anonymous sources as a last resort. The reporter and at least one editor know the identity of the source.

Much of the decision-making, though, falls on Mr. Ryan, 67. A former official in the Reagan administration and chief executive of Politico, he came to The Post in 2014. He replaced Katharine Weymouth, a scion of the Graham family, which was The Post’s longtime owner. When Mr. Bezos selected him in 2014, he thanked him for taking the job, adding that Mr. Ryan was “excited to roll up his sleeves.”

The Post’s efforts to diversify its journalism beyond political coverage extends back until at least the summer of 2016. At that time, senior editors considered a plan that would expand the newspaper’s coverage to temper a decline in readership during what they thought would be the presidential administration of Hillary Clinton, according to two people with knowledge of the proposal.

The plan, code-named Operation Skyfall, was set aside after Mr. Trump won the presidential election.

As the importance of moving beyond Washington coverage became more urgent over the past year, Mr. Ryan has given some mixed signals about how ambitiously he wanted to move.

Article source: https://www.nytimes.com/2022/08/30/business/media/washington-post-jeff-bezos-revenue.html

Biden’s Student Loan Plan Sets Off Fierce Debate Among Economists

Administration officials also claim the plan is “paid for” — because the federal deficit is set to shrink by at least $1.7 trillion this year compared with last year. In interviews, officials say the nation’s improving fiscal picture has given Mr. Biden confidence that debt forgiveness is affordable.

“It is paid for and far more by the amount of deficit reduction that we’re already on track for this year,” Bharat Ramamurti, a deputy director of the National Economic Council, told reporters on Friday.

That’s not how “paid for” usually works. The budget deficit is coming down in part because of increased tax revenue, but also because the government borrowed trillions more than usual last year to pay for a $1.9 trillion stimulus package aimed at helping people, businesses and government endure the pandemic. The officials are effectively arguing that they are paying for student loan relief in part by not borrowing more money for pandemic aid.

This is an argument about economic baselines with real implications for American shoppers, who are experiencing the fastest price increases in 40 years. Some economists, like Harvard’s Jason Furman and Lawrence H. Summers, both former top economic officials in Democratic presidential administrations, have warned that forgiving student debt will add to inflation. Their rationale: By reducing or eliminating future loan payments, consumers will have more money to spend. While borrowers won’t be getting checks from the government, they will be relieved of the financial burden of monthly payments.

“Pouring roughly half trillion dollars of gasoline on the inflationary fire that is already burning is reckless,” Mr. Furman wrote on Twitter last week.

White House economists, like Jared Bernstein of the Council of Economic Advisers, have countered that the sum of Mr. Biden’s moves will not add to inflation. That is because Mr. Biden also announced last week that after a nearly three-year “pause” in federal student loan payments for the pandemic, they will restart in January. Researchers at Goldman Sachs agree that the plan won’t worsen inflation, saying the reduced buying power from restarting interest payments will more than offset the boost from loan forgiveness.

Article source: https://www.nytimes.com/2022/08/30/business/economy/biden-student-loans-economists.html

California Senate Passes Bill to Regulate Fast-Food Industry

“The stores get closed or the franchise owner sells or the multinational pulls the lease for the real estate,” Ms. Henry said.

Franchise industry officials say it is extremely rare to close a store in response to a union campaign. Starbucks recently closed several corporate-owned stores across the country where workers had unionized or were trying to unionize, citing safety concerns like crime, though the company also closed a number of nonunion stores for the same stated reasons.

Industry officials argue that the bill will raise labor costs, and therefore menu prices, when inflation is already a widespread concern. A recent report by the Center for Economic Forecasting and Development at the University of California, Riverside, estimated that employers would pass along about one-third of any increase in labor compensation to consumers.

“We are pulling the fire alarm in all states to wake our members up about what’s going on in California,” said Matthew Haller, the president of the International Franchise Association, an industry group that opposes the bill. “We are concerned about other states — the multiplier effect of something like this.”

Ingrid Vilorio, who works at a Jack in the Box franchise near Oakland, Calif., and who pressed legislators to back the bill during several trips to Sacramento, the state capital, said she believed the measure would lead to improvements in safety — for example, through rules that require employers to quickly repair or replace broken equipment like grills and fryers, which can cause burns.

Ms. Vilorio said she also hoped the council would crack down on problems like sexual harassment, wage theft and denial of paid sick leave. She said she and her co-workers went on strike last year to demand masks, hand sanitizer and the Covid-19 sick pay they were entitled to receive.

Article source: https://www.nytimes.com/2022/08/29/business/economy/california-fast-food-ab-257.html

Review: ‘A Visible Man: A Memoir,’ by Edward Enninful

In 2017, British Vogue “had languished creatively and tonally, speaking almost exclusively to an upper-middle-to-upper-class pocket of Britishness,” he writes. “The magazine felt to me like it was drifting ever further from the beating heart of the country — to say nothing of the world at large. I didn’t think it reflected the Britain I knew and felt a part of.”

This Britain is one that celebrates the diversity of its people, something Enninful has worked to highlight not only at British Vogue but throughout his three decades in fashion, an industry he describes as “borderless.” He acknowledges that when he got to Vogue he stopped rebelling against commercial fashion, accepting that he was now a part of it. Still, his commitment to inclusivity, to portraying a world that is real and welcoming to those who’ve previously been excluded, has never waned. “I became known to the staff as ‘the guy who shoots Black girls,’” he writes, “which was pretty reductive, but fine by me if it at least meant more women of color in the pages.”

The industry insights are intriguing, but some of the most memorable and endearing passages in this book consist of Enninful’s more personal disclosures. There’s the time he “wanted to make a show of domesticity” for Maxwell, but his skills in the kitchen were so nonexistent that he “ordered in some homey-looking fare from a local restaurant and passed it off as my own”; and there’s the wardrobe malfunction at Buckingham Palace the day he became a member of the Most Excellent Order of the British Empire. He writes poignantly about his close relationship with his mother, his adoration of his siblings and his tense relationship with his father, who “told us all that if he found out we were gay he’d slit our throats,” and who kicked Edward out of the house when he learned he’d been skipping school to go to showroom appointments and photo shoots. The memoir truly shines in its most intimate revelations of Enninful’s sobriety and depression, of what it felt like to soar professionally while struggling personally — and of how he learned to lean on those who love him most.

“A Visible Man” is about a life in the media and fashion worlds, but it is also about a man of many identities finding his voice in a world that has not always wanted to hear it. Enninful is making that world a more beautiful and welcoming place than he found it.


Tariro Mzezewa, a former national correspondent at The Times, is a reporter who writes about culture and style.


A VISIBLE MAN: A Memoir | By Edward Enninful | Illustrated | 270 pp. | Penguin Press | $30

Article source: https://www.nytimes.com/2022/08/29/books/review/edward-enninful-a-visible-man.html