■ Auto Industry
GM may boycott newspaper
General Motors Corp said it would stop advertising in the Los Angeles Times because of concerns over "factual errors and misrepresentations" in newspaper articles. The newspaper, owned by Tribune Co, will review coverage that prompted the complaints from the world's largest automaker, Times spokesman David Garcia said. "We will look into any complaints ... and will make any appropriate corrections," Garcia said in the newspaper on Thursday. GM officials did not specify which articles the company found offensive. On Wednesday, the newspaper published a column by auto critic Dan Neil, who called for the "impeachment" of two executives, and charged that the company "utterly missed the boat on hybrid gas-electric technology" while speeding up production of sport utility vehicles.
Board elects new chairman
The former chairman and chief executive officer of a Boston investment firm was elected chairman of the New York Stock Exchange's board of directors, the exchange said. Former State Street Corp executive Marshall Carter had been the front-runner to succeed John Reed, the former co-CEO of Citigroup Inc, who took over the chairmanship in 2003 after former chairman and CEO Richard Grasso resigned amid controversy over his pay package. Carter joined State Street in 1991 as president and chief operating officer, then became CEO in 1992 and added the post of chairman in 1993. He retired in 2001. Grasso resigned amid intense criticism over his US$187.5 million pay package. He is being sued by New York Attorney General Eliot Spitzer, who wants at least US$100 million returned to the NYSE.
Motorola to boost research
Motorola Inc plans to increase its Indian investment in research by as much as 20 percent a year for the next few years, the Hindu Business Line said, citing the company's Chief Technology Officer Padmasree Warrior. Motorola has invested about US$150 million in the past few years in India, including US$85 million in technology research, the newspaper cited Warrior as saying. The company has about 2,000 research staff in India and may expand the strength by a quarter a year, Business Line said. The company closed its semiconductor design units in Singapore and Taiwan in March last year as it moves work to China and India.
■ Auto Industry
DaimlerChrysler defeats suit
US-German automaker DaimlerChrysler said yesterday that a US judge had turned back a lawsuit from investor Kirk Kerkorian over the 1996 merger of Daimler-Benz and Chrysler Corp. A court in the US state of Delaware turned back all claims by Kerkorian, who sought over US$1 billion, a company statement said. Kerkorian and his company Tracinda claimed that Daimler-Benz engineered a takeover of Chrysler Corp in 1998, then cheated him out of an acquisition fee by claiming it was a merger of equals. US District Judge Joseph Farnan Jr presided over a bench trial that concluded more than a year ago, in February last year. DaimlerChrysler CEO Juergen Schrempp said: "We are pleased that the court decision confirms, once and for all, that the Tracinda case lacked any merit, and that all claims against DaimlerChrysler relating to the 1998 merger were completely baseless."
NINE NEW CASES: The CECC said two locally transmitted cases of COVID-19, and seven imported ones – five women and two men – brought the nation’s total to 348 People who refuse to wear a mask on public transportation after being asked to do so would face a NT$3,000 to NT$15,000 fine, effective immediately, the Central Epidemic Command Center (CECC) said yesterday after announcing nine additional COVID-19 cases. In a move to curtail the spread of the novel coronavirus, the Ministry of Transportation and Communications on Tuesday announced that people must wear masks on trains and intercity buses, while Minister of Health and Welfare Chen Shih-chung (陳時中), who heads the center, on Tuesday said that people should wear them when they cannot maintain a social distance of 1.5m indoors. Chen yesterday
TRILLION PROPOSED: The premier said the goal was to keep ‘businesses solvent, the unemployment rate down, transportation and logistics going, and cash flowing’ The Executive Yuan yesterday announced an expanded economic stimulus package totaling NT$1.05 trillion (US$34.64 billion), including NT$81.6 billion in subsidies for employers to prevent a spike in unemployment. The increased budget comprises a special budget of NT$210 billion, up from the NT$60 billion already passed by the Legislative Yuan; NT$140 billion — up from NT$40 billion — to be appropriated from the general budget; and NT$700 billion in loans to industries affected by the COVID-19 pandemic, Directorate-General of Budget, Accounting and Statistics Minister Chu Tzer-ming (朱澤民) told a news conference at the Executive Yuan in Taipei. The NT$150 billion increase in the
TARGETED TEXTS: The center’s head said that visitor numbers at scenic spots were greater than expected and people did not do a very good job of social distancing The Central Epidemic Command Center (CECC) yesterday sent two warning text messages to urge people to practice social distancing, especially by avoiding crowded scenic areas. The two messages were sent at 11:55am on the third day of the four-day Tomb Sweeping Day weekend, reminding people about social distancing and hand hygiene to help prevent COVID-19 infection. “When visiting crowded scenic spots during the Tomb Sweeping Day weekend, please keep a social distance of at least 1.5m indoors and 1m outdoors, wear a mask and wash your hands frequently. Please wear a mask and seek immediate medical attention if you are feeling ill
The US National Security Council yesterday thanked Taiwan for its support amid the COVID-19 pandemic following President Tsai Ing-wen’s (蔡英文) announcement that Taiwan would donate 10 million masks to hard-hit countries. The donation includes 2 million masks to the US on top of the weekly 100,000 announced previously; 7 million to Europe; and 1 million to diplomatic allies, on top of 1 million Taiwan procured for allies from their neighboring countries, the Ministry of Foreign Affairs said on Wednesday. After European Commission President Ursula von der Leyen expressed appreciation for the donations, the US body yesterday wrote its thanks on Twitter. “We