UAW Taps New Bargainers (6/18/2006)
GM appointment could be most critical.
Tennessee Gov. Says
With Nissan and Saturn under its belt, the state of
Gas Buyers Have It Good, Oilco Exec Says
American gas prices, while at near-record highs of $3 a gallon, are lower than much of the rest of the world, one oil company executive says. Out defending the record profits of oil companies on NBC's Meet the Press, ConocoPhillips chairman James Mulva said that European customers pay $5 to $7 a gallon and that the
Ford Rolling Out Fumes-to-Fuel System
A new paint system that uses toxic fumes as fuel for electrical power will be rolled out to more Ford Motor Company plants, the company confirmed last week to the Detroit Free Press. The system tries to mitigate the millions of pounds of waste created by factory paint booths each year. Ford's system, engineered with DTE Energy Co., captures the paint fumes and converts them into fuel that can generate electricity. The pilot program for the system has been in use at Ford's
Former GM Exec Heads to SAIC
Automotive News reports that Philip Murtaugh, former chairman and CEO of GM China, will stay in the country as the new VP of international operations at SAIC. SAIC has a joint-venture agreement with GM in the country and it owns a slice of GM Daewoo, the automaker's Korean arm. Murtaugh had resigned from GM in May of last year. SAIC is in an expansion cycle that the company hopes will push it to 200,000-unit capacity for Chinese consumption and an additional 50,000 for export.
Chung Offers Apology to
Amid rising expectations that he might be freed on bail soon, Hyundai Motor Chairman Chung Mong-Koo apologized in a two-page letter to a
"I wholeheartedly apologize for raising and using slush funds," said Chung in the letter, admitting his full responsibility over the slush funds.
The 68-year-old Chung said he learned "a lesson" that will never be forgotten for the rest of his life.
On May 16, Chung was indicted for embezzling $129 million from Hyundai Motor affiliates and misusing company funds. Chung faces a third trial on June 26. Under South Korean criminal laws, Chung, chairman of both Hyundai and Kia Motors, could face a life sentence.
Chung's only son Chung Eui-son, who is 37 and the president of Kia Motors, wasn't indicted over the case.-Peter Chang
Ford Fusion Draws Brazilian Fans