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Toyota's Texas move could boost state's economy by $7.2B in 10 years

They say everything is bigger in Texas, and apparently that includes the Toyota's effect on the economy. The giant Japanese automaker's new headquarters in Plano, TX, will add an estimated $7.2 billion to the state over the next 10 years, according to a new study commissioned by the city and cited by Bloomberg.
The benefits appear to be an absolute steal compared to the direct incentives that Plano and the state are giving Toyota. The report finds that by the time the automaker's campus is complete in 2018, it could have 3,650 full-time workers there at an average salary of $104,000. The city has prepared $6.75 million in grants, plus property tax discounts, according to Bloomberg. In addition to that, the state is offering the business $40 million in incentives from its Texas Enterprise Fund. This is still a fraction of what Toyota is estimated to bring in.
Toyota announced in April that it would move its US operations to Plano after being headquartered in California since 1957. The move affects thousands of employees from the sales and engineering divisions. The first workers will arrive there this fall, but Toyota will eventually have a whole campus in Plano by late 2017. The move is expected to save it huge amounts in taxation and offer employees a lower cost of living. Toyota North America CEO Jim Lentz also says that the Texas location puts the headquarters closer to more of the business' factories in the south. Texas certainly appears to be showing it some southern hospitality.

The tumultuous history of the diesel engine

Volkswagen, diesel's most enthusiastic patron, deceived everyone about the amount of emissions its cars were putting out. We have covered this latest massive automotive scandal in great detail, and there are surely more fascinating revelations to come. It turns out that this is just the latest episode in the epic story of the controversy and intrigue surrounding the diesel engine, and its inventor. This is the story of the tumultuous birth and interesting evolution of the compression-ignition engine at the center of the VW scandal. Napoleon III Got Rudolf Diesel Deported Rudolf Diesel was born in Paris in 1858. His Bavarian parents had settled in France where his father, Theodor, was a leather goods manufacturer. When the French Parliament declared war on Prussia, kicking off the Franco-Prussian war, the Diesels fled to London. When he was 12, Rudolf went to live with his aunt and uncle in the Bavarian university town of Augsburg. It was his parents' hometown, and importantly, it's where Rudolf began studying at the Royal County Trade School. His time in Augsburg, graduating at the top of his class from trade school that laid the groundwork for all that was to come. Diesel Nearly Blew Himself Up An early career in refrigeration saw Diesel running R&D in Berlin for Linde, a company started by refrigeration pioneer Carl Von Linde, one of Diesel's professors. His ambition to branch out beyond refrigeration, and his deep understanding of thermodynamics, led to efficiency experiments with steam engines. Diesel was trying to create an engine that didn't waste heat from the combustion process, therefore getting the most work out of the fuel. Instead, he was nearly killed when an experimental ammonia vapor steam engine exploded. Recovery took many months, and during some of that time, he was no doubt planning his next experimental engine, based on the theoretical Carnot cycle. His Engine Was An Attempt To Stick It To The Man Steam engines were expensive to run and wasteful. Diesel thought the efficiency of his design would be a way for the small business to compete with the dominant industrial giants. It was, and it did, but big business is equally passionate about chasing efficiency. Diesel engines quickly proliferated in industries both grand and cottage. Rudolf Didn't Really Invent The Diesel As We Know It Instead, he improved an existing one to a significant degree. The Diesel engine could be considered an evolution of the "hot-bulb" engine.

Toyota offering $4.2 billion in stock to fund Mirai, new hybrids

Toyota president Akio Toyoda told a group of investors that the hydrogen fuel-cell Mirai is the car for the next century. To help pay for it, Toyota is courting investors who aren't only after short-term capital gains but want to help the company long term. It will offer up to 500 billion yen ($4.2 billion US) worth of special shares in Japan that cost 20-percent more than common stock and that can't be sold for five years. The upshot is that the shares will pay a higher dividend, still have voting rights, and they can be converted to common stock or sold back to Toyota at the issue price. The investors won't lose money. Called "Model AA" shares in honor of the company's first passenger car, the sale would help Toyota hold onto capital while it works on the next - expensive - developments. The sale would be broken up into tranches, with 50 million potentially on offer this year after the annual shareholder's meeting. Successive sales would take place no more than once a year. The initial dividend is set at 0.5 percent and capped at 2.5 percent, which even at its lowest rate would beat that of a standard deposit account in a Japanese bank. At the moment, sales are only planned for Japan. Related Video: Featured Gallery 2016 Toyota Mirai: LA 2014 View 19 Photos News Source: Bloomberg Earnings/Financials Green Toyota Hydrogen Cars Sedan toyota mirai stocks investing