More signs that US is in the descent...
And the former third world is either ascendent...or...the GOPs dream of making the US just another third world tyranny is not far off now.
Car giant Ford is to sell its luxury UK-based car marques Jaguar and Land Rover to Indian company Tata. Tata, India's biggest vehicle maker, is likely to pay about $2bn (£1bn) in the deal, although analysts will be keen to see the exact price and terms.
Yeppers, you read that correctly. Tata, the makers of the worlds cheapest car, the Nano, are buying Jaguar and Land Rover...and I really love this part.
But it is thought that Ford has invested about $10bn in Jaguar since buying it in 1989, for $2.5bn.
so, not only selling BOTH of them for a loss, but that was 1989 dollars, not the worthless pieces of paper we have floating around currently. Next up will be to see if both Ford and Chrysler are considered "too Big" to fail like all the corrupt investment banks the Fed is bailing out now by buying worthless stock (worth a penny, bought as if it was worth a dollar) with Treasury Bonds.
Comments
Actually, I think it's more a sign that there's a reason Jaguar and Land Rover were up for sale in the first place -- and Tata is doing just what Ford did, buying cheap respectability without considering (or, if considering, willing to live with) the inability for either brand to be profitable.
Posted by: ***Dave | March 25, 2008 9:57 PM