For this week’s edition of Friday Night Lights, we will take a look at the various accessories to attach night observation devices (NODs) for helmet worn applications. There are quite a lot of options. Some are extremely basic while others have a whole host of features to adjust your NODs to your eyes. Let’s take […]
Today’s Photo Of The Day features Australian Army soldiers from the 2nd Commando regiment conducting in a training exercise with their M4A5 rifles. In this photograph, taken by CPL Kyle Genner, we see Australian Army Commandos conducting in a series of counter-terrorism exercises earlier this year in May or 2019. On close inspection, we can […]
Alright folks, you know the drill. Wallets out, card balances paid off, let’s have another Featured Deals of the Week. As always let me know in the comments if you want me to go find some deals that just aren’t making it into the list for whatever reason. Beretta Cheetah (M81) .32 ACP, surplus – […]
A company that ate more shit than AMC or British Leyland and its legacy remains enshrined as why you don’t expand so hard so fast. Daewoo, which translates as “Great Woo” was South Korea’s largest company pumping out everything from cars and trucks to guns, tanks, hotels and ships, and all of it BLEW up in glorious fashion in the late 1990′s alongside Pan Am, TWA and Enron.
Daewoo was formed in 1967 by Kim Woo-Jung as a byproduct of PM Park Chung-hee’s reforms on the economy and every aspect of South Korea in an attempt to revitalize the country after Syngman Rhee. The use of five year plans with cheap loans allowed Daewoo to slowly dominate the South Korean market, first in things such as clothing and textiles but as the 80′s came around, Chung-hee is killed and the economy liberalizes, Daewoo begins buying into everything.
Machine tools, “defensive products”, aerospace, semi conductors, cars, boats, financial investing, computers, construction equipment, musical instruments, it was the 7th largest car exporter and 6th largest car maker. Everything’s going well until the Asian Economic Crisis hits. While companies like LG and Samsung wisely stepped back from spending, Daewoo didn’t and was taking on mountains of debt by buying out other dying companies. In ‘99, they declare full bankruptcy with upwards of 75 billion dollars in debt. Woo-jung makes a run for Vietnam while this is happening only to return and be charged with accounting fraud, smuggling and illegal borrowing. The company would be reorganized into three basic versions dealing in seperate issues although the brand is now burned badly.
GM bought Daewoo Motors in 2001 and would stop selling Daewoos in 2004 citing “irreparable brand damage” as the issue and thus most of those products were rebranded as Chevrolets or Holdens. The commercial vehicles were sold to Indian Tata Motors, Daewoo Precision, makers of both precision tools and guns were bought by S&T Dynamics and rebranded as S&T Motiv, the name is as burned as Pepco or Enron, and it’s still somehow going.