Honda ponders American plant
TOKYO - Honda Motor Co. is studying where and when it might add a factory in North America, according to spokesman Takeshi Sumita. Local press reports say the new plant could be either in Canada or in the southeastern United States.
'We haven't decided on anything yet,' Sumita stressed. 'We've been considering many possibilities,' including a further increase in output at Honda's existing North American plants, he said.
Honda vehicles are in tight supply in North America, but Honda executives are wary of adding too much capacity worldwide. Japan's recession has cut demand for Hondas from Japanese, so exports to America are a welcome way to keep the lines busy. The need to balance output in Japan and elsewhere will factor into the decision, Sumita said.
James B. Treece
Trotman's pay: $69 million
DETROIT - Alex Trotman, former Ford Motor Co. chairman, received $69.1 million in total compensation in 1998, according to the company's proxy statement.
Ford said it paid Trotman $2.5 million in salary and $10 million in bonus. He exercised stock options worth $30 million and was awarded $24 million under a long-term incentive plan.
Total 1998 compensation for Ford CEO Jac Nasser was $12.9 million, including a $6 million long-term award paid in common stock, $1 million in salary and $5 million in bonus. In 1998, Nasser was Automo-tive Operations president.
Chairman William Clay Ford Jr., in office since Jan. 1, will receive $375,000 per quarter in restricted common stock.