Word: carred
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...Motors has gone from being a developing-world success story to a cautionary tale of bad timing and overly ambitious expansion plans. Revenues are plummeting: Tata's commercial vehicles sales in India fell by 40% and exports by 45% in the quarter ending on December 31, 2008, while passenger car sales in India slid 14.4%. With losses mounting, it recently reported a quarterly loss of $58.5 million its first in seven years. To complicate matters, Tata Motors faces a June deadline when it must repay a $3-billion bridge loan taken on to buy Jaguar Land Rover...
...setbacks are humbling to a company that not long ago was setting a fast pace. Tata Motors' trucks have been ubiquitous on Indian roads for decades. In recent years, it had captured a larger share of the domestic car market with the Tata Sumo and the Indica, India's first domestically developed car. Tata's cars, buses and trucks are sold in Europe, Africa, the Middle East, Australia and parts of Asia. The company bought South Korea's second largest truckmaker, Daewoo Commercial Vehicles, in 2004; a year later is acquired a 21% stake in Hispano Carrocera, a Spanish...
...federal government is handing out over $1.5 trillion to support the economy through the Obama stimulus package, TARP, and the new mortgage assistance program. Among the clear winners in the frenzy to save parts of American industry are financial firms and the car companies. Aid may be extended to auto parts companies and insurance operators. The general rule of thumb is that the sectors of the economy that are considered "strategic" will get the lion's share of funding. Car companies are strategic because they employ so many people. Banks are in this category because the credit system cannot operate...
...argument that economists would make for the appropriateness of the downfall of print is based on "creative destruction." As one generation of products or services become obsolete it is replaced by another which better fits the current environment. The car industry and the banks in their current incarnations look like they will dodge any application of this principle in the real world...
...package to Ireland includes round-trip airfare from New York City or Boston to Dublin for $799 per person, a night at the Ritz-Carlton Powerscourt (just south of Dublin) and a stay at the four-star Strand Hotel in Limerick. While you're on the road (the car rental is also included), you can stay four nights at any of 1,200 Irish Farmhouse Bed & Breakfasts. The same package is available from Chicago or Washington, D.C., starting at $949, and from San Francisco starting at $1,059. Book by Feb. 27 for travel from May 1 to June...