October 14, 1992 |
Kia Motors North America is finally getting its cash fix from parent Kia Motor Corp. in South Korea, reports chief operating officer Greg Warner. He won't say what the subsidiary's first year operating budget will be, but it is big enough that the government-controlled Central Bank of Korea had to approve the transfer of funds from Seoul to Irvine, where Kia's U.S. headquarters have been set up.
August 15, 1986 |
Ford Motor, sitting on a $7.1-billion pile of cash, remains interested in a major non-automotive acquisition, Chairman Donald E. Petersen says. "We bid on Hughes, so that says we believe we have the ability to consider an acquisition of substantial size. So, the intent is clearly yes," Petersen said in an interview. "But our posture is one of patience, and I have no predictions," he said. Ford, the No. 2 U.S.
May 24, 1996 |
Kia Motors America Inc. is taking air bags to a lower level this month by introducing the industry's first "knee air bag" on its 1996 sports utility vehicle, called the Sportage. The new air bag inflates nearly 5 inches from a panel below the steering column, exploding simultaneously with chest air bags in the steering wheel on impact.
January 29, 1999 |
Consider the state of the world's auto industry: a glut of 20 million vehicles; 75% of auto makers are losing money; consumers demand more but want to pay less; regulators are mandating new, cleaner engines; and suppliers are being squeezed to lower costs. It all adds up to a caldron of forces feeding a mergers and acquisitions frenzy of historic proportions. The breakneck speed of change was evident Thursday as two major deals totaling nearly $15 billion in value were announced.