John Hughes. A great, inspirational filmmaker passed away recently. This is the final day of our commemoration to the fantastic writer/director. Planes, Trains, and Automobiles is an awesome movie mostly ran on TBS during the holidays. You might have seen it. Check me out: www.youtube.com
Friday [Planes, Trains, and Automobiles]
Ford’s Disposal of Aston Martin Now Complete
Aston Martin is the sleek sports car popular for starring in the action block buster James Bond franchise. The sexy silvery gray Aston Martin DBS for instance, was the James Bond car in the 2006 movie, Casino Royale. Although Aston Martin wowed all of us being James Bondâs car, it didnât hit the blockbuster in the car market like the movie did. In August 2006, Bill Ford, who handed the reins over to Mulally last year, put Aston Martin up for sale, saying the money-losing brand may be “an attractive opportunity to raise capital and generate value.”
Ford Motor Company succeeded in selling the Aston Martin Division last March, when the deal was made to a consortium of big time investors lead by racing executive Dave Richards. The group also included John Sinders, a famous Aston Martin collector and two other Kuwaiti firms of Investment Dar and Adeem Investment Co.
“The deal gets Ford liquidity it desperately needs to help restore its higher-volume product lines, and it leaves Aston Martin in good hands, as well.” Dave Healy, an analyst at Burnham Securities was quoted as saying before the Dearborn automaker put its luxury brand up for sale.
In a statement before the sale, Ford CEO and President Allan Mullaly said, “The sale of Aston Martin supports the key objectives of the company, to restructure to operate profitably at lower volumes and changed model mix and to speed the development of new products,”
Ford announced in March that it would receive $848 million and retain a $77 million stake in Aston Martin.
The transaction of the maker of the Aston Martin catalytic converter was completed in the second quarter of this year. Becky Sanch, Ford spokeswoman confirmed that they have not completely given away the sports car division because the automaker retained a stake by receiving preferred stock from Primrose Cove Ltd., the holding company of the group that acquired Aston Martin.
On Tuesday Ford received $931 million in cash and preferred stock for its sale of a controlling stake in the popular luxury brand.
Fordâs Jaguar and Rover divisions, also part of the Ford Premier Auto Group are also being prepared for disposal as Ford continues on its plan to bounce back from its recent financial troubles.
Related posts
Automotive and Diagnostic Equipment Financing
Automotive tools are highly specialized in nature. Many a time a particular automotive tool serves only a single purpose. Therefore it is essential to have a set of automotive tools in order to avoid any interruptions in the business. However the automotive tool set is extremely expensive. At times, the cost of the tool is more than the cost of vehicle that needs repair. Sometimes the cost of tool set may be more than the vehicle needs to be repaired. Hence automotive tool financing is becoming essential nowadays.
There are some legitimate financing companies have an expertise in financing automotive tools. You can seek their help by submitting an online application provided by them. They ensure fast approval of the amount required to acquire automotive tool set.
Automotive tools financing is normally available under various options. Automotive Air compressor is one among them which helps in acquiring the equipment which costs thousands of dollars. There are various types of compressors like compact air compressor, piston compressor, single stage compressor, two stage compressor and so on. Due to automotive tool financing it is possible for almost all companies to acquire any of the aforementioned types of air compressors.
Automotive hand tool financing is required to keep ready a well-equipped set of hand tools like wrenches, screwdrivers, clamps, sockets, installer or remover equipments etc. These tools are indispensable for running an automotive repairing business. Acquiring any one of them is affordable to all. But keeping a set of such tools is really expensive and hence the need for automotive hand tool financing is essential.
Welder financing is yet another category of automotive tool financing. A high quality welder is important for the automotive business. There are some precise welders like arc welder, stick welder, TIG welder, and MIG welder and so on. They are essential to apply heat in a given area. The sophisticated nature of the welders raises their price tags and that’s why automotive repair business people go for automotive tool financing to acquire them.
Automotive waste and recycling equipment are required by certain companies for disposing the hazardous wastes in a safer way. In fact many shops find it profitable to recycle the wastes. Therefore such equipments are becoming essential in an automotive repair shops. They are highly expensive and as a result of which automotive tool financing is required to acquire these equipments.
Brake lathe is yet important equipment in any automotive repair shops. They allow you to work on all types of brakes. You may need a combination of brake lathe, heavy duty brake lathe or car brake lathe depending upon the type of your business. However any type of brake lathe is expensive and not possible within the reach of all. Hence brake lathe financing is essential.
The automotive industry has undergone several changes in the past hundred years. Keeping yourself updated of the changes and using the latest equipment can help increase your revenues. Though essential, this equipment is very expensive and so seeking the help of a financing company is required. Some genuine financing companies offer assistance to acquire automotive tools without any frustrating procedures.