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Daewoo Motor America

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BUSINESS
June 28, 2000
* Daewoo Motor America Inc., the U.S. arm of the Korean car maker, said it is opening four regional branches, including a Western office in Huntington Beach that will be headed by John Dorsey. Daewoo Motor America, based in Compton, said it is setting up the regional offices to serve the growing number of dealers. The company said it has 400 dealers and expects to have 500 by the end of the year. The other regional offices are in Marietta, Ga., Hoffman Estates, Ill., and Rutherford, N.J.
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BUSINESS
July 25, 2003 | From Bloomberg News
Daewoo Motor America Inc., the sales unit of defunct Daewoo Motor Co., is suing General Motors Corp. and Suzuki Motor Corp. to stop them from selling Daewoo vehicles in the U.S. under their own brands. The request for a temporary restraining order, filed in U.S. Bankruptcy Court in Los Angeles, claims that General Motors and Suzuki are violating a 1999 agreement in which the South Korean automaker gave Compton-based Daewoo Motor America exclusive U.S.
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BUSINESS
July 25, 2003 | From Bloomberg News
Daewoo Motor America Inc., the sales unit of defunct Daewoo Motor Co., is suing General Motors Corp. and Suzuki Motor Corp. to stop them from selling Daewoo vehicles in the U.S. under their own brands. The request for a temporary restraining order, filed in U.S. Bankruptcy Court in Los Angeles, claims that General Motors and Suzuki are violating a 1999 agreement in which the South Korean automaker gave Compton-based Daewoo Motor America exclusive U.S.
BUSINESS
May 17, 2002 | JOHN O'DELL, TIMES STAFF WRITER
Daewoo Motor America said Thursday that it filed for bankruptcy protection from creditors. Top executives of the Compton-based car importer said the Chapter 11 petition would protect 160,000 Daewoo automobile owners in the U.S. The plan, filed in federal court in Los Angeles, says a group of South Korean banks and government agencies has agreed to provide sufficient funding for the U.S.
BUSINESS
April 13, 2002 | JOHN O'DELL, TIMES STAFF WRITER
General Motors Corp.'s expected takeover of Daewoo Motor Corp. would probably spell the end of the South Korean car maker's operations in the U.S., a top American Daewoo official said Friday. The deal, expected to be signed this month, would strand Daewoo's 525 U.S. dealers, about 160,000 car owners and about 8,000 dealership and corporate employees. Gary Connelly, senior U.S.
BUSINESS
April 30, 2002 | From Bloomberg News
Daewoo Motor Co.'s U.S. sales arm fired about two-thirds of its workers, anticipating that the unit would be excluded from assets General Motors Corp. will acquire after the auto makers sealed their long-anticipated deal Monday. About 105 of Daewoo Motor America's 165 employees were let go last week, said Gary Connelly, vice president of the Compton-based unit. The 60 remaining will keep their jobs until "the transition between Daewoo Korea and GM is finalized."
BUSINESS
May 17, 2002 | JOHN O'DELL, TIMES STAFF WRITER
Daewoo Motor America said Thursday that it filed for bankruptcy protection from creditors. Top executives of the Compton-based car importer said the Chapter 11 petition would protect 160,000 Daewoo automobile owners in the U.S. The plan, filed in federal court in Los Angeles, says a group of South Korean banks and government agencies has agreed to provide sufficient funding for the U.S.
BUSINESS
March 11, 1998 | JOHN O'DELL, TIMES STAFF WRITER
Daewoo Motor Co.'s nascent U.S. import arm has slashed by 75% the number of car dealerships it plans to open when it launches North American sales later this year, according to an industry publication. South Korea-based Daewoo also has revamped its U.S. corporate structure in a bid to improve its operating efficiency.
BUSINESS
September 21, 2001 | John O'Dell
General Motors Corp. said it intends to join partners, including a group of South Korean banks, to take control of most key units of bankrupt auto maker Daewoo Motor Co. The $597-million cash deal would give the partners a 67% controlling stake. GM would gain entry to the potentially lucrative South Korean market and strengthen its Asian strategy. GM would allow Daewoo's struggling U.S. unit, Compton-based Daewoo Motor America Inc., to continue operating as a stand-alone business.
BUSINESS
September 1, 2001 | JOHN O'DELL, TIMES STAFF WRITER
With sales dropping to a 19-month low and funding from its bankrupt parent having dried up, South Korean auto importer Daewoo Motor America has fired 50 managers and support workers and eliminated 20 already vacant positions at its Gardena headquarters and regional sales offices. As it reorganizes to free more cash for marketing, the U.S. arm of Daewoo Motor Co.
BUSINESS
April 30, 2002 | From Bloomberg News
Daewoo Motor Co.'s U.S. sales arm fired about two-thirds of its workers, anticipating that the unit would be excluded from assets General Motors Corp. will acquire after the auto makers sealed their long-anticipated deal Monday. About 105 of Daewoo Motor America's 165 employees were let go last week, said Gary Connelly, vice president of the Compton-based unit. The 60 remaining will keep their jobs until "the transition between Daewoo Korea and GM is finalized."
BUSINESS
April 13, 2002 | JOHN O'DELL, TIMES STAFF WRITER
General Motors Corp.'s expected takeover of Daewoo Motor Corp. would probably spell the end of the South Korean car maker's operations in the U.S., a top American Daewoo official said Friday. The deal, expected to be signed this month, would strand Daewoo's 525 U.S. dealers, about 160,000 car owners and about 8,000 dealership and corporate employees. Gary Connelly, senior U.S.
BUSINESS
September 21, 2001 | John O'Dell
General Motors Corp. said it intends to join partners, including a group of South Korean banks, to take control of most key units of bankrupt auto maker Daewoo Motor Co. The $597-million cash deal would give the partners a 67% controlling stake. GM would gain entry to the potentially lucrative South Korean market and strengthen its Asian strategy. GM would allow Daewoo's struggling U.S. unit, Compton-based Daewoo Motor America Inc., to continue operating as a stand-alone business.
BUSINESS
September 1, 2001 | JOHN O'DELL, TIMES STAFF WRITER
With sales dropping to a 19-month low and funding from its bankrupt parent having dried up, South Korean auto importer Daewoo Motor America has fired 50 managers and support workers and eliminated 20 already vacant positions at its Gardena headquarters and regional sales offices. As it reorganizes to free more cash for marketing, the U.S. arm of Daewoo Motor Co.
BUSINESS
June 28, 2000
* Daewoo Motor America Inc., the U.S. arm of the Korean car maker, said it is opening four regional branches, including a Western office in Huntington Beach that will be headed by John Dorsey. Daewoo Motor America, based in Compton, said it is setting up the regional offices to serve the growing number of dealers. The company said it has 400 dealers and expects to have 500 by the end of the year. The other regional offices are in Marietta, Ga., Hoffman Estates, Ill., and Rutherford, N.J.
BUSINESS
September 29, 1998 | John O'Dell
North America's newest automobile retailer, Daewoo, opened its first U.S. showrooms Monday, including its only Orange County location, on Beach Boulevard in Huntington Beach.
BUSINESS
September 29, 1998 | John O'Dell
North America's newest automobile retailer, Daewoo, opened its first U.S. showrooms Monday, including its only Orange County location, on Beach Boulevard in Huntington Beach.
BUSINESS
July 31, 2003 | From Bloomberg News
It is unlikely that Daewoo Motor America Inc., the bankrupt sales unit of insolvent Daewoo Motor Co., would be allowed to block General Motors Corp. and Suzuki Motor Corp. from selling Daewoo vehicles in the U.S. under their own brand names, a judge indicated. U.S. Bankruptcy Judge Sheri Bluebond in Los Angeles said she probably would deny Daewoo's request for a temporary restraining order, Suzuki spokeswoman Celeste Speier said.
BUSINESS
March 11, 1998 | JOHN O'DELL, TIMES STAFF WRITER
Daewoo Motor Co.'s nascent U.S. import arm has slashed by 75% the number of car dealerships it plans to open when it launches North American sales later this year, according to an industry publication. South Korea-based Daewoo also has revamped its U.S. corporate structure in a bid to improve its operating efficiency.
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