Thursday, January 03, 2008
US Auto Makers
I don't have the best economic mind in the world. In fact, my economic sense is pretty crappy. I can buy an old truck for $600, put a couple of hundred bucks worth of parts in it and then sell it for $100. My housing sense isn't a lot better. However, compared to Ford, I'm a wimp in the buy high - sell low market. Check out this story from CNN.
Basically it goes like this. For bought Jag and Land Rover for $5.2 billion (with a B) and now they're getting ready to sell them for $2 billion (at least it's still a b. Is it any wonder that Ford lost $12.6 billion last year.
"Ford bought Jaguar for $2.5 billion in 1989 and Land Rover for $2.7 billion in 2000, which with Aston Martin and Volvo, made up its Premier Automotive Group.For those who may have missed my earlier article, I still think that Jaguar used to make the most beautiful cars in the world.
Last month people close to the negotiations told The Associated Press the potential suitors had submitted bids that ranged from $1.5 billion to $2 billion."
