Green Light

The GM-Toyota deal rolls on

It was anything but a modest proposal. General Motors, the world's largest automaker, would hook up with Toyota, the No. 3, to build some 200,000 small cars a year in a now closed Chevrolet plant outside San Francisco. When it was announced last February, the plan provoked cries of alarm from rival car manufacturers and set off an intensive Federal Trade Commission review. Last week, after GM and Toyota signed an agreement stating that they would abide by U.S. antitrust laws, the FTC gave the green light to the venture.

The agency's 3-2 vote, which will become final...

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