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Unread 01-04-2008, 04:12 PM
 
Location: Southeast Missouri
5,759 posts, read 9,278,427 times
Reputation: 2957
Default Ford selling Range Rover and Jaguar

Can't be good for the plants still operating in Detroit and Michigan.

From what I understand there's an Indian (as in the Asian kind) company looking to buy Jaguar and Range Rover. I think both are often made in Europe, but Ford's gonna lose money on this, which probably translates into jobs being lost.
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Unread 01-04-2008, 04:26 PM
 
Location: Fort Worth, Texas
10,548 posts, read 18,071,667 times
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European Ford owned Jaguar last I heard.

Why would this be a bad thing?
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Unread 01-04-2008, 04:37 PM
 
Location: Grosse Ile Michigan and Sometimes Orange County CA
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Ford is already in trouble. They are mortgaged up to the hilt and they have not changed anything that will stop the bleeding. I read somewhere that they even mortgaged the rights to their blue Ford logo.

Unless something changes dramatically, when they run out of funds borrowed to over their losses, they are done.


Bankruptcy may be the best thing for them. It will get them out of union contracts where they made promises to the workers that were never possible for them to keep (so did GM and Chrysler). The retired workers will get burned to some extent, but the company may survive. If the company does not survive, the retired workers get nothing.

Selling off Jaguar/RR will give them a little more operating capital to cover continuing losses for a while. They are not stupid (I hope), they must have a plan for recovery. Just borrowing money and selling divisions to cover losses is dumb.
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