Word: carly
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Dates: during 2000-2009
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...slight spin on the name of a popular folk song from the Great Depression, "How can a rich man stand such times and live?" He could buy a smaller car, for starters, such as the about-to-be-released Rolls-Royce Ghost, the first lower-cost limousine to be produced by the world's luxury automaker in more than a decade...
...Ghost has been in the works for several years, well before the global economic meltdown. But the timing of the car's rollout this fall couldn't be better for the automaker. Although Rolls-Royce had a banner year in 2008, selling a record 1,212 Phantoms worldwide, the company has taken a substantial hit this year. Sales of the Phantom tanked by more than 34% in the first six months of 2009 as the superrich started to put the kibosh on their conspicuous consumption...
...have a car like the Ghost [coming out] right now is, of course, ideal," Purves says. Buyers may be attracted by not only the tens of thousands of dollars in savings, but also the ability to strike the right tone in a recession. "[The Ghost is] less ostentatious, so owners can give the impression that they're downsizing their Rolls-Royce," says Garel Rhys, president of Cardiff University's Centre for Automotive Industry Research. (See TIME's cars covers...
Although the Ghost is being marketed as a downsized luxury car, a Rolls-Royce is still a Rolls-Royce. The new model is chock-full of exquisite details, from its soft leather seats to the wood-veneer finish of its Art Deco-inspired dashboard. The Ghost also boasts a 6.6-L V12 engine capable of top speeds of 155 m.p.h., but it still promises to provide a silky-smooth, ultra-quiet ride. (See the most important cars of all time...
...hard to feel sorry for a guy who walks away from a job with a check for €50 million ($71 million). So while a few Germans see Wendelin Wiedeking, departing CEO of German sports car maker Porsche, as the victim of a public lynching by media, few feel bad for him. Wiedeking had a 17-year run at Porsche, the Stuttgart-based sports car icon which has just failed in its bid to take over motoring giant Volkswagen and will now be merged into the VW group. He took the job when Porsche was on the skids and transformed...