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Kia and CarMax pull LA Clipper sponsorships in wake of alleged Sterling comments

There's fallout across the automotive advertising world today as companies react to alarming, racially insensitive statements alleged to have been made Donald Sterling, owner of the NBA's Los Angeles Clippers franchise. Last Friday, entertainment website TMZ published excerpts from an audio recording, allegedly between Sterling and his girlfriend V. Stiviano, in which the Clippers owner said, among other things, that he didn't want her to bring black people to his games, including LA Lakers legend Magic Johnson. Sterling has yet to respond publicly to the allegations.
The story quickly gained steam over the weekend, and this Monday it has seen Kia Motors, auto sales website CarMax and insurance giant State Farm all pull sponsorship activities with the Clippers.
In a statement Kia said the alleged statements by Sterling were, "offensive and reprehensible," calling them "inconsistent with our views and values." Kia says it is "suspending" its advertising and sponsorship activities with the team, though has yet to clarify if that suspension includes commercials featuring NBA star and Clippers power forward Blake Griffin.

Insider trading ahead of Hyundai-Kia MPG debacle suspected

Reuters is reporting that large-scale insider trading may be at the heart of some particularly fishy stock-selling behavior, just prior to the original announcement about the Hyundai-Kia fuel economy ratings debacle.
On November 1st, Hyundai-Kia shares traded roughly 2.2 million times (the single highest-volume day of the year), and the stock price fell by about four percent. For reference, a standard daily trading volume for the stock in 2012 saw about 600k shares trading hands. On November 2nd, the company made public the bad news about the dropping fuel economy ratings for many of its models. In other words: No one outside of the company (and only a smallish group inside the company, we'd imagine) should have known anything about the impending bad news as of the first day of November. After the announcement, the stock price tanked, as you'd expect, and trading volume was way down as well.
Experts seem fully aware that the whole thing reeks of leaked information and subsequent insider trading. If chicanery on this sort of scale seems wacky to you, you'd be inline with the experts who report to Reuters that the level of trading is absolutely suspicious.

2014 Kia Forte Koup bows with new look, new engine

Third time's the charm. The final member of Kia's Forte trio has been revealed here at the New York Auto Show, and this new coupe Koup will join the sedan and five-door models when it goes on sale near the end of this year.
The two-door Forte looks sharp, and we like the way Kia's new design language for its compact car has translated onto this coupe model. LED running lights are found up front, matching the LED taillmaps at the rear. EX models will ride on 16-inch alloy wheels, while the upgraded SX model will use 18-inch rollers.
Two powertrains will be offered in the Forte Koup: a 2.0-liter naturally aspirated inline-four in the EX, producing 173 horsepower and 154 pound-feet of torque, mated exclusively to a six-speed automatic transmission; and a turbocharged 1.6-liter four in the SX, rated at 201 horsepower and 195 pound-feet of torque, available with either a six-speed manual or automatic transmission. The five-door Forte also gets this turbocharged mill, and if its specs sound familiar, it's because this engine is also found under the hood of the Hyundai Veloster Turbo.