• Welcome to the new NAXJA Forum! If your password does not work, please use "Forgot your password?" link on the log-in page. Please feel free to reach out to [email protected] if we can provide any assistance.

Important

You know, "riding it out" is supposed to speed things up a wee bit.
 
IllianaXJ said:
That's what they say, but it's not doing any good yet. That doesn't mean we're giving up ;)

Remember we had a car accident for the first one, and she was shoveling snow for the second one... Some food for thought...
 
Prepmech said:
Moline, IL for now.

I guess I should feel lucky, there is talk of sending me to Dayton, OH next.


You could have driven the hour and half and had home-cooked fish sticks and tater tots with us..

I've been to Dayton, ALOT... You think Moline sucks.....
 
Congrats Trav!!

:party:
 
IllianaXJ said:
Sometimes college can be fun. I'm doing a paper on the Donner Party, and as "research" I've been playing Oregon Trail for 2 hours :D :D

Where did you find Oregon Trail? Played the heck out of that game in Jr. High.
 
That I do have, hiding in a box in the basement.

Hmmmm....... new 28" monitor at home......
 
Hey Rev...

Your Rover is now a curryburner!

DETROIT - Ford Motor Co. is selling its storied Jaguar and Land Rover businesses to India's Tata Motors Ltd. in a deal that will net the struggling U.S. automaker about $1.7 billion — roughly a third of the price it paid for the two luxury brands.

The deal announced Wednesday will expand the Indian carmaker's reach around the globe.

The agreement had been in the works for months as cash-strapped Ford sought money to fund its turnaround plan.

Tata will pay $2.3 billion for the British brands, but at closing, Ford will pay about $600 million into the Jaguar-Land Rover pension fund, Tata's statement said.

Ford bought Jaguar for $2.5 billion in 1989 and Land Rover for $2.7 billion in 2000. But it has been struggling and wants to focus on its main brands.

Tata said it expects no significant changes in the terms of employment for Jaguar and Land Rover's 16,000 workers. It said the transfer of the brands would take place at the end of the second quarter.

"Jaguar and Land Rover are terrific brands," Ford CEO Alan Mulally said in a statement. "We are confident that they are leaving our fold with the products, plan and team to continue to thrive under Tata's stewardship.

"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."

Tata said in its statement Ford will continue to supply engines, transmissions and other components "for differing periods." Ford also will continue to provide environmental and other technologies as well as engineering support.

Tata Chairman Ratan N. Tata said his company will try to build on the brands' heritage, keeping their identities intact.

"We aim to support their growth, while holding true to our principles of allowing the management and employees to bring their experience and expertise to bear on the growth of the business," he said in a statement.

Roger Maddison, an official with Unite, Jaguar and Land Rover's main labor union, said the deal is good news for the automakers' employees as well as those who work for parts suppliers.

"Unite has secured written guarantees for all five UK plants on staffing levels, employee terms and conditions, including pensions, and sourcing agreements. The sale ensures our members futures and we look forward to working with Tata," Maddison said in a statement.

Ford shares rose 8 cents to $6.08 in premarket trading Wednesday. Its shares have traded in a 52-week range of $4.95 to $9.70.

WTF?
 
Back
Top