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...downgrading its 2005 profit forecast. Chung is determined to keep the pressure on. He's moving Hyundai's product line away from its traditional small cars into larger, higher-profit vehicles. In October, Hyundai unveiled a small sport-utility vehicle, the Tucson, and later this year, the company will launch a new high-end sedan for the U.S. market, the Azera. Down the road Hyundai plans to roll out a larger SUV and its first hybrid gas-electric vehicle. In addition, the company is opening manufacturing plants around the world that should help it penetrate key markets. Hyundai is investing...

Author: /time Magazine | Title: Hyundai Revs Up | 4/18/2005 | See Source »

...finished. Daewoo had a loss of $70 million last year and its market share in Korea remains flat at about 10%. Reilly says he's tackling these problems by investing $2.5 billion to refurbish his factories, revitalize research and development, and create new models. Early next year, Daewoo will launch the first SUV designed by its own engineers. "We've made a lot of progress," says Reilly. A full turnaround "shouldn't be that far away." For GM's sake, he'd better be right...

Author: /time Magazine | Title: Korean Turnaround Tales | 4/18/2005 | See Source »

...sure scared us," said Flight Director Cleon Lacefield. Less than six minutes after launch last week, while the space shuttle Challenger's speed remained well below the velocity of 17,500 m.p.h. that it must achieve to go into orbit, onboard computers shut down one of its three main engines. Reason: sensors were signaling overheating in the fuel pump. Two and a half minutes later, another engine seemed to overheat. "If the right engine had failed ... we would have been in the water," Lacefield said afterward, meaning that Challenger, with its crew of seven, would have fallen in a controlled...

Author: /time Magazine | Title: American Notes: Aug 12, 1985 | 4/18/2005 | See Source »

Gorbachev had another idea. Within hours of the U.S. announcement, he declared the Soviet Union would launch a five-month moratorium on nuclear testing. It would begin on Aug. 6, the 40th anniversary of the atom-bomb detonation over Hiroshima, and would be extended indefinitely if Washington joined in. The U.S. rejected the offer. For one thing, Shultz noted as he arrived in Helsinki, the Soviets had proclaimed such a unilateral moratorium before, in the late '50s and early '60s, and then had abruptly begun what he described as "the largest nuclear-testing program ever undertaken." Nonetheless, the Gorbachev proposal...

Author: /time Magazine | Title: East-West: Taking the First Step | 4/18/2005 | See Source »

...first big glitch occurred on July 12, when a computer detected contamination in Challenger's hydrogen fuel and aborted the launch 3 sec. before takeoff. The 112-ton spacecraft blasted off 17 days later, but 5 min. 15 sec. into the flight, a monitoring device reported that one of the three main engines seemed to be heating up to a dangerous 1,950 °F. That sensor alerted the onboard computer, and for the first time in the 24-year history of the U.S. manned space, an engine was shut down in flight. But as the craft hobbled bravely heavenward...

Author: /time Magazine | Title: Science: Challenger's Agony and Ecstasy | 4/18/2005 | See Source »

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