During the late 1970s, the American automotive industry was at its apex. Americans fell behind during this boom because of inadequate production capacity. The Japanese had identified the machine industry as a growing industry and invested in modernization of technology. Consequently, Japanese technology was better and costs were lower. When a recession hit in 1980-1981, American firms had little capital to invest, and thus could

John Garner and Tom Avery created precision Machine Tool. John Garner is the president of Precision Machine Tool, and is a financial conservative. He prefers to invest in the company using only its profits. Tom Avery is an expert tool design engineer. He is in charge of the manufacturing and management end of the business. Both men are very critical of selling out to the Japanese and want to keep Precision American.

not modernize their equipment. The industries that are going to survive in the future are those that have the most efficient computerized operations and that produce the cheapest, most reliable products. The Japanese have this edge and the American machine tool manufacturers are reluctant to change their ideologies of buying only American made products.

Some common words found in the essay are:
American Equipment, Precision Machine, Consequently Japanese, Machine Tool, Competition Precision, United Japanese, Employment Precision, Precision Precision's, Tom Avery, Garner Avery, machine tool, precision machine, precision machine tool, automotive industry, aging technology, domestic firms, industry invested modernization, john garner, twenty-two percent, current dilemma, tom avery, invested modernization, invested modernization technology,
Approximate Word count = 703
Approximate Pages = 3 (250 words per page double spaced)