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Huge Number Of Jobs At Risk At Jag And Landrover

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Tuesday June 12, 10:04 AM
Ford Workers Anxious Over Job Fears
Fears are being raised about the fate of thousands of jobs as Jaguar and Land Rover go up for sale.
Loss-making US owner Ford is understood to have appointed three top investment banks to oversee the auction. Private equity groups are seen as the most likely bidders after the firm sold Aston Martin to a Kuwaiti-based consortium in March.
Rival DaimlerChrysler last month offloaded its US business to investment firm Cerberus.
At the same time major carmakers including Renault (Paris: FR0000131906 - news) and Toyota have already ruled themselves out of the bidding.
Union (000910.KS - news) leaders are seeking urgent talks with Ford after the company briefed MPs on the sale. It is expected to give more details later this week.

Sad day indeed. I owned a 1969 E-type and my Dad had a couple of XJ6s and a Mk. VII years ago. With the billions they are losing it is not any wonder that there are no takers. My area is still reeling from the Rover shut-down and Freelander moved out a few months ago also. HPI is now a distant and very ugly memory for many.

Many think the car industry will consist of just 4 or 5 huge multinationals now with the luxury brands including the German Trio and Lexus plus a few boutique brands which may include the odd Jag built by BMW or perhaps VW.


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