Wednesday, March 26, 2008
Former Colony Buys Crown Jewels
Motoring crown jewels that is. Somewhat ironic that India's Tata automotive group has acquired both Jaguar & Land Rover from Ford. Originally bought for $5.2B the brands will now net Ford $1.7B in cash, now that's depreciation for you. Ford claimed that they "would invest the proceeds from the sale in quality and product development" and maybe build some cars we'd like to buy?