Word: nextly
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...gaffe heard around the globe. Last November, just two days after Barack Obama's historic election victory, the world's collective jaw dropped when Silvio Berlusconi quipped that the next U.S. President was "young, handsome and even has a good tan." Though the Italian Prime Minister refused to apologize for the failed attempt at humor, Obama and his aides gave Berlusconi a pass. The incoming President was not going to be sidetracked by a diplomatic incident with a man already notorious as a loose cannon. Berlusconi kept his place that week on Obama's initial round of phone calls...
...Ford's problem is its low profile in what will likely be the key markets for auto sales growth over the next several years. In the first six months of 2009, the carmaker's U.S. sales fell 33% and European revenues shrank 39%. While Western economies look set to remain in the doldrums for the foreseeable future, most Asian countries are registering surprising growth and auto sales are bouncing back. India and China are particularly bright spots; the latter has surpassed the U.S. to become the world's largest car market. Sadly for Ford, Asia accounts for a mere...
...four-door hatchback called the Figo that is aimed squarely at India and neighboring South Asian countries. Designed by Indian engineers on the Fiesta platform, the new small car "is going to be a game changer," predicts Michael Boneham, president and managing director of Ford India. When it debuts next year, the Figo (the name means "cool" in Italian) will be made in India and powered by either a 1.2-liter gas or 1.5-liter diesel engine. Ford also plans to spend $500 million to double capacity at its Chennai plant in southern India to 200,000 vehicles a year...
...segment is getting crowded. Toyota, Volkswagen, GM and Nissan are expected to roll out small cars in India over the next two years. Suzuki India, king of the tiny automobile, is investing $2.28 billion in the country over the next five years to upgrade factories and strengthen distribution for a raft of new models. Even GM on Sept. 24 announced an unusual collaboration with Bangalore's Reva Electric Car, makers of the G-Wiz, to produce small, affordable electric vehicles for India. Mulally said recently that India would play a big role in accelerating Ford's presence in the Asia...
Faye, who was head of Italy's first pro-Obama initiative during the 2008 campaign, says he understands the President's not wanting to turn the issue into a diplomatic affair. "But someone has to make him stop. Maybe just a private note through the embassy?" Or maybe the next time he sees Berlusconi, Obama himself can lean over and say, "Hey Silvio, you know the tan jokes? Basta." - With reporting by Michael Scherer / Washington...