As many of you may know, on March 27, 2008, Ford (F) completed negotiations to sell its Jaguar and Land Rover divisions to Tata Motors (TTM), a division of the Indian conglomerate Tata Group.
The deal went for a reported $2.3 billion, despite Ford’s original cost of $5.2 billion for the duo ($2.5 billion for Jaguar in 1989 and $2.7 billion for Land Rover in 2000). However, after Ford pays $600 million into the pension funds of these companies, the deal will only net them $1.7 billion.
But with total losses exceeding $15 billion in just the past two years alone, Ford was clearly desperate. It had no choice. It needed cash, and fast.
This article was originally written in 2008 as a followup to the material I first wrote about pertaining to US trade policy in my banned 2006 book, America's Financial Apocalypse. This book was not only the ONLY book in the world to have accuractely forecast nearly every major event related to the blow up of the real estate bubble and stock market, but also detailed numerous wide ranging topics that promised to adversely impact the US if not corrected, including the nation's healthcare system, soaring college costs, pension underfundedness, Social Security and of course, US trade policy.
See Also:
Free Trade And The Suicide Of A Superpower (Part 1)
Free Trade And The Suicide Of A Superpower (Part 2)
Free Trade And The Jewish Mafia
Washington's War Against America's Middle Class
Video: Educating A Libertarian Hack From Harvard
7 Myths About US-China Trade and Investment
America. What Went Wrong? (Part 1)
America. What Went Wrong? (Part 2)
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As many of you may know, on March 27, 2008, Ford (F) completed negotiations to sell its Jaguar and Land Rover divisions to Tata Motors (TTM), a division of the Indian conglomerate Tata Group. The dea...