If employees get bonuses and pay rises for good performance, should they get pay cuts for bad performance? Apparently, Japanese automaker, Honda, thinks that they should. As the company is being hit with the growing exploding airbag crisis that has dented its reputation for quality, its CEO Takanobu Ito will take a 20% cut for three months starting from November. Chairman Fumihiko Ike and 11 other directors will also be taking a pay cut of 10%.
Back in the sixties, the Philippines was somewhat of an automotive manufacturing hub for the region; then, for various reasons, the hub shifted to neighbouring countries, and the Philippines has been trudging behind Thailand, Indonesia and Malaysia in auto production and sales. But the country has been revving up to revitalise the industry, eager to capitalise on its increasing disposable income and large available workforce.
Toyota has lifted the veil off the 2015 Toyota Camry NASCAR race car, which is revving up to compete in the next season of the NASCAR Sprint Cup Series, and will also compete in the 2015 NASCAR Xfinity Series.
Sheltering from the rain has just gotten hi-tech and invisible.
Carmakers all over the world are finding it necessary to ‘up-size’ their offerings as a result of the ever expanding global waistline. Over the last fifty years, the average family car has become more than a foot wider and almost double the weight. The problem has become so acute that BMW has actually recruited a team of some 800 volunteers for a study on how obesity affects driving, in a plan that has been dubbed ‘Plump my ride’ after the TV show with a similar name.
Luxury car manufacturer, Rolls-Royce, has just received a phone call a little like that from Stephen Hung who has just shelled out US$20 million in the biggest single order ever received by Rolls-Royce. For those of you who don’t know Stephen Hung, he is…well… rich and somewhat flamboyant, and the owner of the Louis XIII gaming complex in Macau. This venue has been dubbed the most luxurious and extravagant hotel and casino in the world.