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Mercury 1, Yamaha 0
In the email this morning:
(I blanked out the contact info.) FOR IMMEDIATE RELEASE CONTACT: Steve Fleming Communications Director Mercury Marine Cell: XXXXXXXXX Phone: XXXXXXXXX Fax: XXXXXXXXX Email: XXXXXXXXX Federal Court orders Yamaha to comply with Mercury contract FOND DU LAC, Wis. (October 18, 2004) A Federal Court has ordered Yamaha Motor Corp. to comply with the terms of its existing supply agreement with Mercury Marine regarding the delivery and pricing of power heads for 75, 90 and 115 horse-power four-stroke outboard engines Pursuant to a 1998 contract between the two companies, Yamaha supplies power heads for Mercury's 75, 90 and 115 hp four-stroke outboard motors. In that agreement, Yamaha agreed to provide Mercury the aforementioned power heads and replacement parts until March 31, 2006. The agreement contains very specific pricing terms and clearly limits raising prices on those power heads. In January 2004, Mercury petitioned the U.S. government to investigate whether Japanese outboard engine manufacturers had engaged in unfair pricing practices by "dumping" outboard engines in the United States. Yamaha was one of the Japanese outboard engine manufacturers investigated by the U.S. government. As a result of the investigation, the government determined that Japanese outboard engine manufacturers, including Yamaha, had indeed been dumping in the United States, and preliminarily ordered a 22.52-percent import bond for each outboard engine and powerhead imported into the United States from Japan. Yamaha attempted to increase prices 91.6 percent on 75, 90 and 115 hp four- stroke power heads supplied to Mercury beginning Nov. 1, 2004. Mercury rejected the 91.6-percent price increase and notified Yamaha the increase was, in fact, a clear breach of the supply agreement. Mercury also filed suit in Federal Court in Wisconsin, alleging anticipatory breach of contract. On September 27, 2004, Mercury moved for a judicial order that would require Yamaha to continue to sell power heads to Mercury under the terms of the existing agreement The court issued an Order on Oct. 1, 2004, that directed Yamaha to continue delivering powerheads in accordance with the agreement. After the close of business on Friday, October 15, the federal district court issued what is likely to be its concluding order directing Yamaha to continue invoicing at the prices set forth in the agreement. The judge stated, among other holdings: "[Mercury Marine] is likely to prevail on its claim that Yamaha's refusal to render continued performance&is a breach of the Agreement." "Yamaha elected to unilaterally declare the Agreement terminated, something it had no authority to do under the express language of the Agreement." "[Mercury Marine] is likely to succeed on this issue [that Yamaha was required to continue delivering powerheads on the contract's explicit terms pending dispute resolution], no matter what the merits of the dispute they agreed to submit to arbitration." Additionally, we are informed that, in accordance with the terms of the contract, Yamaha has petitioned the International Chamber of Commerce to begin arbitration proceedings to determine their rights and those of Mercury Marine. |
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I'd put nothing past Japanese business. They are predatory - and we let
them behave that way. -W "Matt Lang" wrote in message makes you wonder if they will supply lemmons only to mercury ... Matt |
"Clams Canino" wrote in message link.net...
I'd put nothing past Japanese business. They are predatory - and we let them behave that way. -W "Matt Lang" wrote in message makes you wonder if they will supply lemmons only to mercury ... Matt Thats right .. to get a taste look at what happened to the camera and home electronics industry - wiped out :( It works like this: 1. Flood the market with good and cheaper products. 2. Wait til the domestic target industry dies 3. INCREASE price and milk the **** out of the people who now have no other options about what to buy. Matt |
In article , Matt Lang wrote: "Clams Canino" wrote in message hlink.net... I'd put nothing past Japanese business. They are predatory - and we let them behave that way. -W "Matt Lang" wrote in message makes you wonder if they will supply lemmons only to mercury ... Matt Thats right .. to get a taste look at what happened to the camera and home electronics industry - wiped out :( It works like this: 1. Flood the market with good and cheaper products. 2. Wait til the domestic target industry dies 3. INCREASE price and milk the **** out of the people who now have no other options about what to buy. Matt Really? How come my home electronics are cheaper - by a factor of about 10 - than what they were before they did all this dastardly stuff? (3) simply doesn't happen - if you attempt it, then the industry you killed now has every reason to rise up once more, because there's money to be made undercutting your overpriced junk. -- -- Karl Denninger ) Internet Consultant & Kids Rights Activist http://www.denninger.net My home on the net - links to everything I do! http://scubaforum.org Your UNCENSORED place to talk about DIVING! http://www.spamcuda.net SPAM FREE mailboxes - FREE FOR A LIMITED TIME! http://genesis3.blogspot.com Musings Of A Sentient Mind |
It works like this:
1. Flood the market with good and cheaper products. 2. Wait til the domestic target industry dies 3. INCREASE price and milk the **** out of the people who now have no other options about what to buy. Matt Ah-so, much like very honorable WalMart. Take a bow. |
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On Wed, 20 Oct 2004 20:39:44 -0400, Harry Krause
wrote: Short Wave Sportfishing wrote: On 21 Oct 2004 00:30:13 GMT, (Gould 0738) wrote: It works like this: 1. Flood the market with good and cheaper products. 2. Wait til the domestic target industry dies 3. INCREASE price and milk the **** out of the people who now have no other options about what to buy. Ah-so, much like very honorable WalMart. Take a bow. Hey, I like Wal-Mart. I buy stuff at Wal-Mart. Like yesterday in fact. Six Bill Lewis Liv-N-Sound lures, in a box, for $2.98. Can't beat it. Of course the box was mislabeled - should have been 6 X $2.98, but still - that's what they charged. :) Occasionally, you can strike back. Boooooooooo.....ssssssssssssssssssss. What? I got six lures for the price of one!! :) Later, Tom "Beware the one legged man in a butt kicking contest - he is there for a reason." Wun Hung Lo - date unknown |
"Karl Denninger" wrote in message news:qBxdd.46073$UA.26508@lakeread08... In article , Thats right .. to get a taste look at what happened to the camera and home electronics industry - wiped out :( The US never had a decent camera industry, at least not post ww2. And the home electronics industry comitted suicide. It works like this: 1. Flood the market with good and cheaper products. 2. Wait til the domestic target industry dies 3. INCREASE price and milk the **** out of the people who now have no other options about what to buy. Matt Really? How come my home electronics are cheaper - by a factor of about 10 - than what they were before they did all this dastardly stuff? (3) simply doesn't happen - if you attempt it, then the industry you killed now has every reason to rise up once more, because there's money to be made undercutting your overpriced junk. Unless there are "substantial barriers to entry" such as patents, intellectual property or money. And having been crushed by a monopolist or a dumper, the industry is no longer attractive because they still have the capability to deny any entrant a profit sufficient to attract capital. Surely you know this, Karl. If Merc and Bombardier were to be driven out of business by imports and their factories liquidated, who would be foolish enough to try to raise the hundreds of millions necessary to reconstitute them? del cecchi |
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