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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.

Adventures in lazy badge engineering | Autoblog Podcast #505

On this week's podcast, Mike Austin joins David Gluckman to look back at some of the less labor-intensive badge engineering the industry has seen over the years. They also recap what they've all been driving lately, and the episode wraps up with Spend My Money buying advice to help you, our dear listeners. Also, in honor of episode 505, here is a picture of a Peugeot 505. The rundown is below. Remember, if you have a car-related question you'd like us to answer or you want buying advice of your very own, send a message or a voice memo to podcast at autoblog dot com. (If you record audio of a question with your phone and get it to us, you could hear your very own voice on the podcast. Neat, right?) And if you have other questions or comments, please send those too. Autoblog Podcast #505 The video meant to be presented here is no longer available. Sorry for the inconvenience. Topics and stories we mention Kia Sportage Kia Niro Volkswagen Golf Audi A4 Used cars! Rundown Intro - 00:00 What we're driving - 01:31 Badge-engineering fun - 20:54 Spend My Money - 33:41 Total Duration: 1:07:57 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Feedback Email – Podcast at Autoblog dot com Review the show on iTunes Podcasts Audi Kia Volkswagen Crossover Hatchback SUV Wagon Sedan kia sportage kia niro

NHTSA investigating 8 million airbags not made by Takata

In a shocking turn of events, we have a line of airbags under investigation that weren't made by Takata. Rather, Automotive News reports that 8,000,000 airbags made by ARC Automotive Inc. are under investigation by the National Highway Traffic Safety Administration (NHTSA). According to Automotive News, NHTSA is looking into ARC's airbags after two injuries and a recent death were attributed to the company's products. The two injuries occurred first and prompted the initial inquiry of 490,000 airbags, which then expanded after an airbag from a different line caused the death of a Canadian driver. The airbags in question are found in GM, FCA, Hyundai and Kia products, and all automakers are cooperating with the investigation, Automotive News reports. It is also important to note that these airbags have not been recalled, as NHTSA is trying to determine the issue and whether a recall is necessary. NHTSA also told the news outlet that the ARC inflators use a different design than those from Takata, instead using some pressurized gas and an ammonium nitrate charge. While the design may be different, the Takata inflators also used ammonium nitrate propellant, which other manufacturers have avoided. We will be watching this situation closely to see what develops. Here's hoping – for our collective safety and sanity – that we won't have to go through another airbag crisis like with the Takata recall. Related Video: News Source: Automotive NewsImage Credit: Shutterstock Government/Legal Hyundai Kia Safety FCA airbag fiat chrysler automobiles