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Hyundai reveals CEO's pay for first time ever

Thanks to some government pressure, Hyundai's billionaire chairman, Chung Mong Koo, has revealed just how much he gets paid each year. Honestly, the amount is a bit lower than we'd expect considering he helms such a huge industrial empire. The 76-year-old chairman brought home $13 million in 2013, $5.2 million of which came from Hyundai's automotive business while both Mobis and Hyundai Steel chipped in $3.94 million, each. For reference, Ford CEO Alan Mulally netted $23.2 million in 2013, although the vast majority of that money came from stock options.
The push for Chung to reveal his pay was part of a larger effort by the South Korean government called the Financial Investment Services and Capital Markets Act. The act forces several thousand companies to release info on annual pay, bonuses and severance for employees earning over $5 million won ($469,000), according to Bloomberg.
"With the disclosure of the executives' compensation, the pressure to deliver better profits will increase," said Heo Pil Seok, the CEO of Midas International Asset Management. It seems to be working, as Hyundai shareholders, of which Midas is one, have seen their shares increase by 6.1 percent in 2014, which includes a 1.2-percent jump as of yesterday, according to Bloomberg.

Ferrari 488 GTB among the best car designs of 2016 [UPDATE]

Can't decide whether the Ferrari 488 GTB looks better than the 458 Italia it replaces? A design jury has make up its mind. The 2016 Red Dot design awards are being announced today, and Maranello's latest eight-cylinder, mid-engined supercar won top honors. The Red Dot Awards for Product Design recognize the best new products on the market across an array of categories and industries, including automobiles. This year's panel of 41 experts, including Chris Bangle and Ken Okuyama, evaluated some 5,200 designs. From those, they selected 1,304 for a Red Dot award, and only 79 as the "Best of the Best" – among them the new Ferrari. This is the second year in a row the Prancing Horse marque has been awarded the honor, having been earned an award for the FXX K last year. A full list of this year's honorees isn't yet available, and it's uncertain that other automakers will earn awards. Last year's list also included the Mazda MX-5, Mercedes-AMG GT, and Volvo XC90. The Peugeot 308 SW, if you can believe it, was the only car awarded Best of the Best in 2014, the Audi R8 in 2013, and the Renault Twizy in 2012. UPDATE: The Red Dot organization has released the full list of this year's product design honorees, with the McLaren 570S and Kia Optima also awarded among the Best of the Best. Red Dots were also awarded to the Audi A4, R8, and Q7, BMW 7 Series, M2, and X1, Fiat Toro, Hyundai Ioniq, Kia Sportage, Mercedes C-Class, Skoda Superb Estate, and Volvo S90. The jurists also gave Honorable Mentions to the Borgward BX 7, Genesis G90, Mini Clubman, Qoros 3 City SUV, and Smart Fortwo Cabriolet. The 488 GTB wins the Red Dot award The V8 sports car named "Best of the Best" Maranello, 30 March 2016 – The 488 GTB has won the Red Dot Best of the Best award for its design and innovative lines. This is the latest in string of plaudits garnered by the Ferrari Style Centre which also picked up several IF Design Awards in Munich, Germany, at the start of the month. On the latter occasion, the big winner was the FXX K (Red Dot Best of the Best 2015) which took home the Gold Award, the Hannover institute's top prize. However, the 488 GTB and 488 Spider also scored a double whammy at the same event with a Design Excellence Award apiece.

The Kia Sedona is the most neglected car model currently on sale

Today is a rainy day. What does a car nut do on a rainy day? After my spouse said I could have some free time, I started to wonder things. Bizarre things. Like, what happened to minivans? In addition to Ford, Chevy, and Dodge, other manufacturers jumped into the minivan pool. Remember the Mercury, Nissan, and Mazda's minivans? They stormed on the scene en masse in the 1980's and 1990's and then seemed to peter out as the crossover craze began taking full effect at the turn of the millennium. Now there are fewer minivan offerings and one in particular seems neglected. Well, it's still raining. So, I thought I would write down some of my thoughts in that vein. Today, Honda and Toyota are often seen as the minivan rivals, picking at each other in commercials and one-upping the other with little things, like an internal vacuum cleaner. But, don't forget Chrysler who has always been around in the category (they invented it if you believe their advertisements). So, they are always respected in the field, even though the Grand Caravan and Pacifica arguably aren't up to the Honda and Toyota standards. That's not to say they aren't worthy of serious consideration if you're looking for a minivan, because they are. All the products in this category have become relatively good and are far better in quality than anything from 30 years ago. There's another manufacturer out there however, making a minivan that is hardly ever heard from in automotive advertising circles. That is Kia. Their Sedona model is one of the most neglected models currently on sale. The Kia Sedona is a good product, a worthy competitor in the minivan category. It even has lots of conveniences at a price point that should appeal to minivan buyers (thousands less than Honda or Toyota). But, the parent company's limited advertising has not brought the attention to the model that it deserves. Toyota at least makes an effort to put some swagger into it's marketing campaign for their Sienna. The Swagger Wagon videos are still popular. Toyota has even made an off-road version of the Sienna to keep the Sienna top of mind, even if it is a ridiculous concept that will never go into production. So, what?! It's a fun exercise to keep their product somewhat viral. Kia, well... does anybody remember anything cool about the Sedona? Hold on... Yes! There was that Photo Safari Sedona back in 2015.