Toyota said Thursday that it had sold 9.37 million vehicles worldwide in 2007, which may have been enough to put it ahead of General Motors in the race to be world’s biggest automaker, a title GM has held for 76 years. Toyota Motor Corp.’s group companies sold 7.1 million vehicles overseas last year, a 10 percent jump from the previous year, offsetting a 4 percent decline in sales in Japan at 2.26 million vehicles, the automaker said in a statement. GM officials said the company would release its global sales numbers later this month.
Weyerhaeuser Co. approves dividend
The executive committee of the board of directors of Weyerhaeuser Co. declared a dividend Thursday of 60 cents per share on the common stock of the corporation. The dividend is payable Feb. 25 to shareholders of record at the close of business Feb. 1. Weyerhaeuser Co. is one of the world’s largest companies in forest products.
Holiday sales mostly gloomy
The economic outlook became more uncertain Thursday after many of the nation’s big retailers reported weaker-than-expected holiday sales, the result of consumers cutting their spending due to higher energy prices and the ongoing housing slump. Many merchants failed to meet their already lowered sales projections during December, and their performance during the critical sales period led some stores to reduce earnings outlooks for the fourth quarter. The weak results crossed all retail categories. Among the few bright spots was Wal-Mart Stores Inc., which posted results that exceeded Wall Street expectations.
Buffett’s firm buys more railroad stock
Warren Buffett’s Berkshire Hathaway Inc. bought 29,600 more shares of Burlington Northern Santa Fe stock, giving Berkshire ownership of 17.4 percent of the nation’s second-largest railroad. Documents filed with the Securities and Exchange Commission on Thursday reveal that Berkshire bought the stock Monday when Burlington Northern’s stock dipped below $77 a share. The filing said Berkshire paid $76.55 for each of the shares, or about $2.3 million. Buffett’s company now owns 60.9 million shares of Burlington Northern Santa Fe Inc., which is based in Fort Worth, Texas.
Boeing rival plans spending in U.S.
European Aeronautic Defence &Space Co. NV is planning a spending spree in the United States, chief executive Louis Gallois said Thursday, to take advantage of a weak dollar that has pummeled the company for months. The parent company of Airbus is aiming at “medium-sized companies” in the U.S., he said without naming potential targets. By 2020, 20 percent of EADS employees should be working outside Europe, and 40 percent of its supplies should come from non-European countries, he said. Gallois declined to say whether Airbus outpaced rival Boeing. Last week, the Boeing Co. said it sold 1,413 commercial jets in 2007 while delivering 441 planes, its best showing in six years. Airbus had delivered 410 planes and logged 1,204 orders as of the end of November, the latest update available.
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