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To: Lizzie Tudor who wrote (163348)	11/10/2008 2:26:02 PM
From: John Koligman	Read Replies (1) \| Respond to of 306849

Baloney, you spout off but apparently know nothing about the car business and it's past history. Years ago when Ford was flush with cash they spent billions on a bunch of luxury brands, like Jaguar, Land Rover, and Volvo. What they got with the British companies were a bunch of poor low quality products and outdated factories. They poured billions into Jaguar and Land Rover over the years, sales remained poor at Jaguar, and Ford recently dumped Jaguar and Land Rover to Tata of India. If you care to read the included article you will see that they 'sold' for less than 'half' of what they paid years ago, and that doesn't include the BILLIONS they dumped into the brands to try and bring the quality of the vehicles up. Ford Sells Land Rover and Jaguar to Tata By HEATHER TIMMONS Published: March 26, 2008 NEW DELHI — Tata Motors, part of India’s fast-growing Tata Group, is buying Jaguar and Land Rover from the Ford Motor Company for $2.3 billion. The purchase price is more than the market expected but still about half what Ford originally paid for the brands several years ago. The long-awaited deal, which was announced Wednesday, also carries a painful payout for Ford: after the sale closes, which is expected midyear — Ford will give Tata another $600 million to make up for shortfalls in the two brands pension plans. Tata Group, one of India’s largest conglomerates, has been on an overseas acquisition spree, buying everything from tea and coffee companies to steel manufacturers. Other Indian companies are also considering overseas acquisitions, as a weak dollar coupled with strong domestic growth make takeovers attractive, particularly in the United States. When Tata does deals, it rarely changes the character of the company that it buys over the near term. Ratan N. Tata, the chairman of Tata Sons and Tata Motors, reiterated that strategy on Wednesday, saying the Tata Group “will endeavor to preserve and build on their heritage and competitiveness” of the two brands, while “keeping their identities intact.” No changes are expected to employment terms for the nearly 16,000 workers at Jaguar and Land Rover. Ford is in the midst of a painful overhaul, shedding costly units and workers in the United States. The company chief executive and president Alan R. Mulally said in a statement that he was confident that Jaguar and Land Rover would thrive under their new owners. Ford’s were down 12 cents to $5.88 in late afternoon trading. “Now, it is time for Ford to concentrate on integrating the Ford brand globally, as we implement our plan to create a strong Ford Motor Company that delivers profitable growth for all,” Mr. Mulally said. Ford has lost $15 billion in the past two years. Ford will continue to provide some components, including power trains, to Jaguar and Land Rover, which are built in Britain, as well as some research and development support. Ford’s finance arm, Ford Motor Credit, will continue to provide financing to Jaguar and Land Rover dealers and customers for up to 12 months.