Ford Sees Off Two Daughters To Mysterious Indian Suitor
An Arranged MarriageMr. Ford with starched handkerchief wipes a tear from the missus’ misty eye while they wave off their two adopted British daughters – Jaguar and Land Rover.
The neighbors stare unbelieving through their windows. They’re a little stunned not just by the parade of elephants and footmen, but by the fact that Mr. Ford gave not one but two of his daughters away to some mysterious, self-proclaimed maharaja who promised riches beyond the dreams of avarice in return.
Onlookers, the British press namely, are busy tossing rice and singing hallelujah while American bankers stand near with suitcases stuffed with dollars.
You see, this suitor didn’t have the cash necessary on hand to pay for these ladies up front. So, he had to borrow – just like Mr. Ford did last year (times have been tough at the Ford household what with the credit crunch et al.)
The eager maharaja committed to what’s known as a “bridge loan” amounting to a tidy $3 Billion courtesy Citi and JP Morgan >>>. Jaguar and Land Rover’s wholesale price was only $2.3 Billion which leaves $700 million extra for expenses.
After all we’ve got to keep in mind that there’s not one but two weddings and two honeymoons to pay for. But at least for the Fords, they can now breathe a little easier knowing that they’ve rid themselves of two financial drains.
They’re the maharaja’s problem now.
About the Author: Gunnar Heinrich is publisher of Automobiles De Luxe online and is executive producer of the Automobiles De Luxe Television series on PBS member station CPTV.
gotleib1 | Mar 27, 2008 | Reply
I don’t quite know if I feel the same
about Jaugar and Land Rover anymore. I guess it is a form of divine colonial retribution!
J | Mar 27, 2008 | Reply
gotleib, you’re right about the colonial retribution, quite ironic. Some how I don’t think this will be bad for LR & Jaguar, both companies and particularly their unions have resisted necessary belt tightening.
Tata, since are not doing a lot of business in Britain will have significantly greater leverage and ability to resist government pressure. Reform or we’ll move production to Bangalore!
Gunnar Heinrich | Mar 28, 2008 | Reply
You know, it’s funny to recall how back when Jaguar was being courted by both GM and Ford how the British were so up in arms over the possible sale of such an iconic English name to the Americans! How times have changed in the span of one decade.
steane | Mar 31, 2008 | Reply
Then their was the Ford’s foster son – Aston. Aston was from the Martin family, who were young parents that ‘bit-off’ more than they could chew. The only chance for Aston to have a good life was by leaving his parents to live with the Fords.
Unfortunately, the Fords found (to their dismay), that Aston needed a lot of help if he was to develop into the type of man they envisaged. He had the looks but was lacking a bit of substance.
Many dollars and much care and attention later, they had to say goodbye to Aston just as he was about to ‘become a man’ and turn 21. The financial drain on the family was just too much.
So, Aston packed his bags and went to live with Professor Drive, known to his friends as ‘Pro’. Pro, for very little cost, built on the Ford’s good work and finished moulding Aston into a good looking man with lots of substance.
Tata will do the same with JLR, as much of the hard-work has been done.
The buyers of Ford’s euro offcasts must be rubbing their hands together with glee. I wonder who will get their hands on Volvo…?