The Smartest Guy-sans In the Room Update: Hyundai Chairman Released from Prison

Now that's an entirely different kind of bailout! Har-de-har-har. We can't pretend to understand Korean law or politics, because here in the US of A we don't let corporate bosses accused of fraud and embezzlement to just walk the streets. Okay, nevermind that. Hyundai's chairman, Chung Mong-koo, had bond set at one billion won, or about $1 million. Reasons for letting him out range from concerns for the 68-year-old's health to concern over the South Korean economy while Hyundai flails around without a leader. That's right, even though he's accused of stealing money from the company, he's still going to go back to running things. Now that right there folks, is chutzpah. Don't you think that after your chairman spends two months in jail you'd want the board to, you know, appoint an interim chairman? We're just saying.

Hyundai Motor chairman granted bail [BusinessWeek Online]

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