Tata asks UK Goverment for ?1 billion loan

Started by Madman, November 25, 2008, 01:04:24 PM

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Madman

November 25, 2008, 01:04:24 PM
Just nine months after buying Jaguar-Land Rover, Tata is seeking a ?1 billion loan from the British Goverment.

http://business.timesonline.co.uk/tol/business/industry_sectors/engineering/article5213217.ece


Cheers,
Madman of the People
Current cars: 2015 Ford Escape SE, 2011 MINI Cooper

Formerly owned cars: 2010 Mazda 5 Sport, 2008 Audi A4 2.0T S-Line Sedan, 2003 Volkswagen Passat GL 1.8T wagon, 1998 Ford Escort SE sedan, 2001 Cadillac Catera, 2000 Volkswagen Golf GLS 2.0 5-Door, 1997 Honda Odyssey LX, 1991 Volvo 240 sedan, 1990 Volvo 740 Turbo sedan, 1987 Volvo 240 DL sedan, 1990 Peugeot 405 DL Sportswagon, 1985 Peugeot 505 Turbo sedan, 1985 Merkur XR4Ti, 1983 Renault R9 Alliance DL sedan, 1979 Chevrolet Caprice Classic wagon, 1975 Volkswagen Transporter, 1980 Fiat X-1/9 Bertone, 1979 Volkswagen Rabbit C 3-Door hatch, 1976 Ford Pinto V6 coupe, 1952 Chevrolet Styleline Deluxe sedan

"The saddest aspect of life right now is that science gathers knowledge faster than society gathers wisdom." ~ Isaac Asimov

"I much prefer the sharpest criticism of a single intelligent man to the thoughtless approval of the masses." - Johannes Kepler

"One of the most cowardly things ordinary people do is to shut their eyes to facts." - C.S. Lewis

FoMoJo

#1
November 25, 2008, 01:06:07 PM
It seems that Ford unloaded just in time.
"The only reason for time is so that everything doesn't happen at once." ~ Albert Einstein
"As the saying goes, when you mix science and politics, you get politics."

2o6

#2
November 25, 2008, 01:22:09 PM
Probably to stay afloat after the Tata Nano issue. (It ended up with someone being killed, I want to say the V.P of the entire company..........) There's no land to build a factory to produce the car, and they spend a truckload of money in developing it.

heelntoe

#3
November 29, 2008, 08:32:01 AM
Quote from: 2o6 on November 25, 2008, 01:22:09 PM
Probably to stay afloat after the Tata Nano issue. (It ended up with someone being killed, I want to say the V.P of the entire company..........) There's no land to build a factory to produce the car, and they spend a truckload of money in developing it.
what!!?
there were a lot of protests to the original land being used, but another state offered them the land and tata gladly took it. the nano project is still on track as far as i know.
@heelntoe

TurboDan

#4
November 29, 2008, 03:41:50 PM
Why would the UK government bail out an Indian company? Sentimentality over British car marques isn't a valid reason, either.

dazzleman

#5
November 29, 2008, 04:27:32 PM
This bailout mania is becoming a cancer.
A good friend will come bail you out of jail...BUT, a true friend will be sitting next to you saying, DAMN...that was fun!

Raza

#6
December 02, 2008, 07:48:26 PM
Quote from: dazzleman on November 29, 2008, 04:27:32 PM
This bailout mania is becoming a cancer.

I've also petitioned the government for a bailout.  So far I have 64,200 signatures in favor of my bailout.
Quis custodiet ipsos custodes?
If you can read this, you're too close

2006 BMW Z4 3.0i
http://accelerationtherapy.squarespace.com/   @accelerationdoc
Quote from: the Teuton on October 05, 2009, 03:53:18 PMIt's impossible to argue with Raza. He wins. Period. End of discussion.

Laconian

#7
December 03, 2008, 10:29:01 AM
Quote from: Raza  on December 02, 2008, 07:48:26 PM
I've also petitioned the government for a bailout.  So far I have 64,200 signatures in favor of my bailout.
Your case would be more convincing if you rode the bus instead of driving your own car.
Kia EV6 GT-Line / MX-5 RF 6MT

Byteme

#8
December 03, 2008, 11:04:55 AM
Quote from: TurboDan on November 29, 2008, 03:41:50 PM
Why would the UK government bail out an Indian company? Sentimentality over British car marques isn't a valid reason, either.

No but the factories that produce the Jaguars, and I assume most if not all of the Land Rovers, are located in England.  So even though TaTa is Indian it could be in England's interest ensure their survival.
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