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...ticked off the accomplishments: "The largest new investment in our nation's infrastructure since Eisenhower built an interstate highway system in the 1950s," he said. "The largest investment in education in our nation's history," he continued. "The most meaningful steps in years towards modernizing our health-care system," he went on. "A big step down the road to energy independence," he announced. "The biggest increase in basic research funding in the long history of America's noble endeavor to better understand the world," he concluded. Look for lots of this sort of boasting in Obama's speech before Congress...
...Royal Caribbean cruise line is rolling out the world's largest cruise ship next fall, the Oasis of the Seas. Rock walls are passe; this 5,400-passenger colossus has its own zip line across the back of the boat. But if you fear that a voyage on the state-of-the-art Oasis will sink your wallet, think again: you can book a seven-night Caribbean trip in that brass ring of cruise deals, a cabin with a balcony, for less than $1,000 per person. Considering it includes three meals a day, it's like getting an Orlando...
Business cycles can be capricious, as officials for Tata Motors are discovering. During India's economic boom, the country's largest automobile manufacturer burst onto the international stage by acquiring fabled British luxury marques Jaguar and Land Rover for $2.3 billion. The company grabbed more attention last year when it unveiled the Nano, a potentially revolutionary sedan designed for emerging markets with a pricetag less than some laptop computers. Tata Motors, it seemed, was a carmaker in high gear...
...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 bus manufacturer...
...Tata Motors wasn't the only Indian company that got burned by trying to expand internationally as the business cycle was turning against them. United Spirits, India's largest liquor maker, recently announced plans to reduce its debt by selling up to 49% of Whyte & Mackay, the British distiller it bought for $883 million two years ago. Setco Automotive, a leading Indian clutch manufacturer, has put all further foreign acquisition plans on hold after buying manufacturing facilities...