| Submit Your Article | |
| Contact Us | |
| Our RSS Feed | |
| Our Blog | |
|
|
Korea's SSangyong Motor Fails To Make December Payroll |
Korea's smallest carmaker Ssangyong Motors on Sunday said it cannot pay December salaries, which were due on Wednesday. Domestic carmakers saw a steep drop in sales in due to the worldwide economic crisis, but this is the first time a domestic automaker has failed to pay workers the money it owes them. In letters to staff sent Friday, Ssangyong said, "The company is expected to post a deficit of more than W100 billion (US$1=W1,292) this year alone. Due to lack of operating funds for December, it is impossible for the company to pay salaries any longer."
[source]
Add your comment:
More articles in this category
Commentary: America cares little about fate of Detroit's Big Three | detnews.com | The Detroit News
Forget the politicians and their calculated "rescue" of Detroit's automakers. They won't be the ones who save, or kill, the Big Three where it matters most -- in the marketplace. It'll be the real people, would-be customers who decide to give General... More »
Michigan gas prices at pump hit 6-year low | detnews.com | The Detroit News
Michigan's average gasoline price fell to $1.66 per gallon Monday, a low not seen at the pumps since January 2003, when regular gasoline clocked in at $1.58 per gallon. The average price in Metro Detroit was $1.67, compared with $2.97 this time last... More »
Auto aid troubles Wall Street | detnews.com | The Detroit News
DETROIT -- Major credit rating agencies and Wall Street analysts -- fearing shareholders and other stakeholders could be wiped out -- downgraded the outlook for Detroit's troubled automakers on Monday, after digesting the federal government's emergency... More »
Auto briefs | detnews.com | The Detroit News
DETROIT -- Ford Motor Co.'s 2010 Fusion Hybrid will get 41 city miles per gallon and 36 mpg on highways, based on final certification figures from the U.S. Environmental Protection Agency, the company said Monday. The move is one of the final steps in... More »
Automakers tumble as bailout sinks in | detnews.com | The Detroit News
NEW YORK -- Shares of General Motors Corp. and Ford Motor Co. fell sharply on Monday as investors considered the ramifications of last week's federal bailout of the auto industry. Buckingham Research analyst Joseph Amaturo said the $17.4 billion loan... More »
Commentary: America cares little about fate of Detroit's Big Three | detnews.com | The Detroit News
Forget the politicians and their calculated "rescue" of Detroit's automakers. They won't be the ones who save, or kill, the Big Three where it matters most -- in the marketplace. It'll be the real people, would-be customers who decide to give General... More »
Michigan gas prices at pump hit 6-year low | detnews.com | The Detroit News
Michigan's average gasoline price fell to $1.66 per gallon Monday, a low not seen at the pumps since January 2003, when regular gasoline clocked in at $1.58 per gallon. The average price in Metro Detroit was $1.67, compared with $2.97 this time last... More »
Auto aid troubles Wall Street | detnews.com | The Detroit News
DETROIT -- Major credit rating agencies and Wall Street analysts -- fearing shareholders and other stakeholders could be wiped out -- downgraded the outlook for Detroit's troubled automakers on Monday, after digesting the federal government's emergency... More »
Auto briefs | detnews.com | The Detroit News
DETROIT -- Ford Motor Co.'s 2010 Fusion Hybrid will get 41 city miles per gallon and 36 mpg on highways, based on final certification figures from the U.S. Environmental Protection Agency, the company said Monday. The move is one of the final steps in... More »
Automakers tumble as bailout sinks in | detnews.com | The Detroit News
NEW YORK -- Shares of General Motors Corp. and Ford Motor Co. fell sharply on Monday as investors considered the ramifications of last week's federal bailout of the auto industry. Buckingham Research analyst Joseph Amaturo said the $17.4 billion loan... More »
Bookmark this Article:
More...
More...
Article Views Rating: 114 Words Count: 104
©2008 carwad.net
