Ford Motor is selling its storied Jaguar and Land Rover brands to India's Tata Motors in a deal that will net the U.S. automaker $1.7 billion -- roughly a third of the price it paid for the two luxury brands.
Selling anything for 1/3 of what you paid for it is not a good sign. I have a certain amount of nostalgia for Ford: one of my great-grandfathers was the construction foreman on Henry Ford's mansion, and one of my grandfathers started working at Ford in 1925. I still have faith. Thank goodness they finally bit the bullet and got rid of these two companies. And how ironic is it that two icons of the British automobile industry are owned by an Indian company.
And just when Jaguar was running a great ad campaign. Those are just gorgeous images in those ads.