2020 Kia Sportage Lx on 2040-cars

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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.

Automakers drop support for Trump effort against California emissions

WASHINGTON — Toyota, Fiat Chrysler (now known as Stellantis following its merger with Peugeot) and other major automakers said on Tuesday they were joining General Motors in abandoning support for former President Donald Trump's effort to bar California from setting its own zero emission vehicle rules. The automakers, which also included Hyundai, Kia, Mitsubishi, Mazda and Subaru, said in a joint statement they were withdrawing from an ongoing legal challenge to California's emission-setting powers, "in a gesture of good faith and to find a constructive path forward" with President Joe Biden. The automakers, along with the National Automobile Dealers Association, said they were aligned "with the Biden administrationÂ’s goals to achieve year-over-year improvements in fuel economy standards." Nissan in December withdrew from the challenge after GM's decision in November shocked the industry and won praise from Biden. On Monday, the Justice Department asked the U.S. Appeals Court for the District of Columbia to put the California emissions litigation on hold to "ensure due respect for the prerogative of the executive branch to reconsider the policy decisions of a prior administration." Biden has directed agencies to quickly reconsider TrumpÂ’s 2019 decision to revoke CaliforniaÂ’s authority to set its own auto tailpipe emissions standards and require rising numbers of zero-emission vehicles, as well as Trump's national fuel economy rollback. Asked to respond to the automakers' action, White House climate adviser Gina McCarthy said in a statement that "after four years of putting us in reverse, it is time to restart and build a sustainable future, grow domestic manufacturing, and deliver clean cars for America." California Governor Gavin Newsom praised the automakers on Twitter for "dropping your climate-denying, air-polluting, Trump-era lawsuit against CA" and urged them to join the voluntary framework. TALKS WITH BIDEN Separately, an industry trade group on Tuesday proposed to start talks with Biden on revised fuel economy standards that would be higher than Trump-era standards but lower than ones set during the prior Democratic administration. The Trump administration in March finalized a rollback of U.S. Corporate Average Fuel Economy standards to require 1.5% annual increases in efficiency through 2026, well below the 5% yearly boosts under the Obama administration rules it discarded.

2018 Kia Stinger GT Long-Term Update | It's a hatch!

Our long-term 2018 Kia Stinger GT is a lovely sedan. We've talked a bit about what it's like to live with day-to-day and just how well the GT badge fits on a car like this. It's racked up more than 10,000 miles in the few months it's been in our fleet. I'm personally hoping we can crest 20,000 miles before its year with us is up. The sleek design (both inside and out), sharp handling and peppy 3.3-liter twin-turbo V6 might get all the attention, but people tend to forget it's practical, too. Just look at that cargo area! I sometimes forget that most people don't spend all day and night thinking about cars, poring over photos and spec sheets like we do. When I posted a photo on Twitter last month, one commenter seemed quite surprised to realize that the Stinger had a hatch rather than a trunk. It's one of my favorite things about this car, but it seems it's not common knowledge. If we can't get a true wagon, hatches like the Stinger, the Porsche Panamera and Audi A5/S5/RS5 Sportback are great alternatives. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The Stinger has 23.3 cubic feet of space with the seats up, though Kia doesn't list the area with the seats down. For reference, the Kia Optima has 15.9 cubic-feet in its trunk. Winter in Detroit sucks, and the Stinger GT's standard Michelin Pilot Sport 4S summer tires aren't ideal for sub-freezing temperatures. Nokian Tyres was kind enough to donate a set of Hakkapeliitta studless winter tires for the Stinger (more on those in another post soon). When the tires arrived, I put the seats down and threw all four in the back of the car and took it to the tire shop. I had to remove the sun shade, but that was the only real fitment issue. About a week later, just before Christmas, Amazon dropped the price on a 55-inch TV I've had my eye on for months. I placed my order and had it shipped to our office lest package thieves steal it from my porch. I wasn't sure it would fit in the Stinger, but it was just about perfect. Another half inch and I would have needed our long-term Honda Ridgeline. Related Video: