Tesla managers vote for liquidation

The management at the electronics producer Tesla in Piešťany decided to put the company into liquidation on July 18. The proposal was submitted because Tesla's debts exceeded its assets, and it has been unable to meet its liabilities for some time. The day before the company decision, Prime Minister Vladimír Mečiar visited Tesla's headquarters and expressed his support for the company. "If Tesla Piešťany goes under," Mečiar said, "the whole electronics industry in Slovakia will be liquidated."