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AUTOS' WORLD NEWS: Scandal - Recall - Sexual Harassment
* Hyundai scandal
Chairman indicted in embezzlement, slush fund
SEOUL, South Korea -Associated Press, by JAE-SOON CHANG -May 16, 2006: -- Prosecutors indicted Hyundai Motor Co. Chairman Chung Mong-koo on Tuesday in an embezzlement and slush fund scandal gripping South Korea's largest automaker... Chung, 68, who has been in custody since his April 28 arrest, was charged with embezzlement and breach of trust, said Kang Chan-woo, spokesman for the Supreme Prosecutors' Office, without disclosing specific amounts of money involved in those charges... But Kang said the tycoon created a 103.4 billion won ($109.5 million) slush fund with the embezzled money and that prosecutors were looking into how that secret money was spent. He didn't say when the first hearing would be held...
* Toyota
1 - Recalls: 210,000 Prado SUVs worldwide for axle problem
TOKYO,Japan -The Detroit News (USA) -May 16, 2006: -- Toyota Motor Corp. will recall about 210,000 Land Cruiser Prados worldwide due to an axle problem, Japan's largest automaker said Tuesday... About 100,000 vehicles will be recalled in Japan in addition to about 110,000 others, mainly in Australia, Europe and China, according to company spokesman Paul Nolasco... The Prado is not sold in North America, nor are any Land Cruisers based on the Prado model, he said...
2 - Sexual harassment: Time will tell if Toyota promotion is good for Press
Detroit,Mich,USA -The Detroit News, by Christine Tierney -May 16, 2006: -- Faced with an embarrassing situation, Toyota Motor Corp. moved swiftly last week to recast a sad tale of alleged sexual harassment into a breakthrough promotion for its most prominent American manager... Toyota emphasized in appointing Jim Press as the new president of its New York-based Toyota Motor North America subsidiary that this was the first time the job had gone to someone who wasn't Japanese... Press is taking over most of the responsibilities of Hideaki Otaka, who is taking a leave of absence after his former executive assistant filed a sexual harassment lawsuit against him...
* GM News
1 - New project targets U.S. cities - 'Arlington' initiative calls for taking message to markets untainted by negative news coverage
Washington,DC,USA -The Detroit News, by David Shepardson -May 18, 2006: -- General Motors Corp., hoping to overcome a flood of negative national news, has quietly launched an intensive marketing effort to tout its successes and build consumer awareness for its products in medium-sized markets around the country... A team of about 50 people -- including a couple in each of 16 cities, including Sacramento, Calif., Columbus, Ohio, Austin, Texas, and Buffalo, N.Y. -- is running the multimillion-dollar "Arlington Project," named for the Washington, D.C., suburb where it will be based... The effort includes direct marketing, attempts to secure more favorable news coverage and outreach efforts by dealers, suppliers and other company officials. The cities were selected because they are dominated by local media rather than national outlets that have hammered GM in recent months for its sales and financial losses...
2 - Financial errors spur GM shake-up / 2 execs out, carmaker hires outside overseer in wake of SEC probe into accounting errors
Detroit,Mich,USA -The Detroit News, by Bill Vlasic -May 18, 2006: -- General Motors Corp. shook up its financial staff Wednesday in the wake of a series of accounting errors that have drawn the scrutiny of the U.S. Securities and Exchange Commission and a federal grand jury in New York... GM said two of its top finance officers will be leaving the company, and their jobs will be combined in an effort to improve the automaker's internal financial controls... Paul Schmidt, GM's corporate controller, will retire later this year, and Peter Bible, the company's chief accounting officer, will resign on June 1, GM said in a statement...
3 - GM gets Chinese OK to open insurance office in Shanghai
Detroit,Mich,USA -Associated Press -May 17, 2006: -- General Motors Corp. said Wednesday that it has received Chinese approval to open an office in Shanghai as a step toward beginning insurance operations in China... GM said that Motors Insurance Corp., part of the insurance unit within the automaker's General Motors Acceptance Corp. financing subsidiary, received approval from the Chinese Insurance Regulatory Commission to establish the office...
4 - GM to cut 900 jobs at its British Vauxhall car factory
LONDON,UK -Associated Press -May 17, 2006: -- General Motors Corp. said Wednesday that it is axing 900 jobs at its British Vauxhall car plant as it cuts production at the factory in northern England... GM said the move reflected pressure in the European car industry to increase productivity and reduce costs, but pledged to retain a manufacturing presence in Britain...
* Honda
- Opts to build assembly site in U.S.
Detroit.Mich,USA -The Detroit News, by Christine Tierney -May 17, 2006: -- Honda Motor Co. will build a new auto plant in the United States as part of a $665 million investment to boost vehicle and engine output in North America to keep pace with its growing sales... Michigan and Indiana will be among the U.S. states competing to land Honda's sixth assembly plant and 14th manufacturing facility in North America... Honda, the first Japanese automaker to build cars in the United States, said it would invest around $400 million to build a U.S. factory capable of turning out 200,000 vehicles a year starting in 2008...
* Kia
- Postpones construction of Georgia, US plant
Seoul,SOUTH KOREA -Just Auto.com -18 May 2006: -- Kia has said it will indefinitely postpone the start of construction of its $1.2bn plant in Georgia, US, in the light of the on-going investigation into the activities of the company’s president, Chung Eui-sun, and his father, chairman of Hyundai Motor, Chung Mong-koo...
* DaimlerChrysler
- Advertises for unemployed to help assemble E-Class
GERMANY -Just Auto.com -18 May 2006: -- DaimlerChrysler has advertised for 620 unemployed to work in its Sindelfingen plant to help assemble the E-Class, according to local press reports...
posted by Unknown @ 4:03 PM
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