Archive for February, 2007

Hyundai strike, stock HYMLF, chairman Chung Mong-koo

Friday, February 2nd, 2007

I thought it would be interesting to see how the latest strike affected Hyundai. This article says something about the finances: “Hyundai, which together with its affiliate Kia Motors Corp., is world’s sixth-largest automaker, suffered its biggest losses ever from strikes in 2006. Four walkouts cost the company 118,293 vehicles in lost production worth $1.75 billion.” However, this particular deal seems like a win for the company since they won’t be giving out bonus money until production goals are met.

The stock is about 69,400 won right now (Hyundai Motors). MarketWatch has HYMLF – Looking at the chart, the stock appeears to be climbing away from 52 week lows around 67-68. We’re now looking at 72.57.

If you’re attracted to stocks that seem to be recovering from bad news, look into Hyundai but be careful. The chairman might be going to jail soon and apparently no one is certain that anyone can replace him.