Tata to buy Jaguar and Land Rover for $2.3bn

Ford Motor Company on Wednesday (26 March) said it had "entered into a definitive agreement to sell its Jaguar Land_Rover operations to Tata Motors" for around US$2.3bn. 

The transaction was the culmination of Ford's decision last August to explore strategic options for the Jaguar Land Rover business, as the company accelerates its focus on its core Ford brand and "One Ford" global transformation, the automaker said in a statement. 

"The sale is expected to close by the end of the next quarter and is subject to customary closing conditions, including receipt of applicable regulatory approvals," Ford said.

The total amount to be paid in cash by Tata Motors for Jaguar Land Rover upon closing will be approximately US$2.3bn. At closing, Ford will then contribute up to approximately $600m to the Jaguar Land Rover pension plans.

"Jaguar and Land Rover are terrific brands," said Ford president and CEO Alan Mulally.

"We are confident that they are leaving our fold with the products, plan and team to continue to thrive under Tata's stewardship.  Now, it is time for Ford to concentrate on integrating the Ford brand globally, as we implement our plan to create a strong Ford Motor Company that delivers profitable growth for all."

"This is a good agreement.  It provides the Jaguar Land Rover management team and employees with the assurances needed to maintain their focus on delivering the best results for the business," added Lewis Booth, the Ford executive vice president responsibe for Ford of Europe, Volvo and Jaguar Land Rover.

"I am confident that, under its new owner, Jaguar Land Rover will continue to build upon the significant improvements and product successes it has achieved in recent years." 

As part of the transaction, Ford will continue to supply Jaguar Land Rover for differing periods with powertrains, stampings and other vehicle components, in addition to a variety of technologies, such as environmental and platform technologies.  Ford also has committed to provide engineering support, including research and development, plus information technology, accounting and other services.

In addition, Ford Motor Credit Company will provide financing for Jaguar and Land Rover dealers and customers during a transitional period, which can vary by market, of up to 12 months.

"The parties believe these arrangements will support Jaguar Land Rover's current product plans, while providing Jaguar Land Rover freedom to develop its own stand-alone capabilities in the future that will best serve its premium manufacturer requirements," the statement added.

The parties do not anticipate any significant changes to Jaguar Land Rover employees' terms of employment on completion.

Tata Sons and Tata Motors chairman Ratan Tata said:  "We are very pleased at the prospect of Jaguar and Land Rover being a significant part of our automotive business. We have enormous respect for the two brands and will endeavour to preserve and build on their heritage and competitiveness, keeping their identities intact. We aim to support their growth, while holding true to our principles of allowing the management and employees to bring their experience and expertise to bear on the growth of the business."

Jaguar Land Rover's employees, trade unions and the UK government have been kept informed of developments as the sale process progressed and have indicated their support for the agreement.

Roger Maddison, the Unite trade union's national officer for the automotive industry, said in a statement: "Today's deal is really good news for the UK automotive industry and the thousands of people who work for Land Rover Jaguar and its supply chain.

"Unite has secured written guarantees for all five UK plants on staffing levels, employee terms and conditions, including pensions, and sourcing agreements. The sale ensures our members futures and we look forward to working with Tata."

Union members interviewed for BBC lunchtime TV news reports appeared pleased with the deal, with some saying they expected job security for at least five years.

Jaguar Land Rover chief executive Geoff Polites said:  "Jaguar Land Rover's management team is very pleased that Ford and Tata Motors have come to an agreement today.  Our team has been consulted extensively on the deal content and feels confident that it provides for the business needs of both our brands going forward.

"We have also had the opportunity to meet senior executives from Tata Motors and the Tata group," Polites added.  "They have expressed confidence in the team that has delivered significant improvements in [our] business performance.  We feel confident that we can forge a strong working relationship with our new parent company, and we look forward to a bright and successful future for Jaguar Land Rover."

Earlier on Wednesday, the London-based Daily Telegraph news noted that Tata, which owns Britain's famed Tetley Tea company and bought Anglo-Dutch steel company Corus last year, had been front runner to buy JLR for months.

But the paper said a source has told it that negotiations over Ford continuing to supply components, including engines, to JLR's three factories were "protracted and difficult".

Tata had obtained US$3bn of loans to use toward the purchase while Ford would contribute $600m to pensions for Jaguar and Land Rover workers, the Daily Telegraph said. Tata would keep open the three JLR factories at least until the end of 2011 while it carries out the existing product development plans, it added.

The paper noted, however, that there are fears here in the UK that after the end of 2011, Tata could shift some production abroad and source components from outside the UK.

As well as giving Tata access to leading automotive technology, the purchase gives the company an overseas sales and distribution network, the Daily Telegraph noted.

A source with knowledge of the deal told just-auto that 2011/2012 mentioned in recent media reports referred to the current business plan for Jaguar and Land Rover but that did not necessarily correspond with the timing of some of the agreements reached between Tata and Ford.

Engines, in particular, had long life spans, the source said, adding that some of the agreements could well last into the mid to late 2010s.

The source indicated that, within certain model lines, supply periods - of slightly different lengths - had even been agreed down to an engine-by engine basis.

"Don't see 2011 as some kind of cut-off date or anything because that wouldn't be the case," the source added.

The source also said that there was some potential in the future for platform-sharing between Ford and the brands newly acquired by Tata.

Land Rover's Freelander 2 small SUV, for example, shares its 'component set' with ongoing Ford Europe models such as the S-Max minivan/MPV and a number of Volvo models.

"There still will be co-operation," the source said.

 

 

Source: just-auto.com

Honey Badger most fearless animal on Earth

Most Fearless

 

Adult honey badgers rarely serve as prey for lions and leopards; their ferocity and thick, loose skin makes it hard to grip or suffocate them and predation difficult. Old, weak honey badgers are more likely to fall prey to leopards, lions, and pythons, but even old honey badgers will defend themselves as vigorously as possible. In one case, shown on an episode of Animal Planet, an old female honey badger that was nearly toothless and had one blind eye was attacked by a leopard. It took the leopard about one hour to kill the honey badger.

Watching this video may help you uderstand this animal better

Frozen Bridge

Nice 1

The Marriage Trivia

Father: I want you to marry a girl of my choice.
Son: “I will choose my own bride!”
Father: “But the girl is Bill Gates’s daughter.”
Son: “Well, in that case…OK”
Next Day
Father approaches Bill Gates.
Father: “I have a husband for your daughter.”
Bill Gates: “But my daughter is too young to marry!”
Father: “But this young man is a vice-president of the World Bank.”
Bill Gates: “Ah, in that case… OK”
Finally Father goes to see the president of the World Bank.
Father: “I have a young man to be recommended as a vice-president. ”
President: “But I already have more vice- presidents than I need!”
Father: “But this young man is Bill Gates’s son-in-law.”
President: “Ah, in that case… OK”

A pregnant Man??

An Oregon man who used to be a woman claims to be pregnant with a baby girl.
Thomas Beatie was born female, but he has since changed his sex -- removing his breasts, taking regular testosterone injections and legally registering as a man.
However, Beatie apparently didn't remove everything from his former life. He recently told The Advocate magazine that he has become pregnant, conceiving from a sperm donor because his wife Nancy is unable to conceive.
If the news is true, the happy couple expect the baby to arrive in July.
We at Asylum are happy that another barrier to sexual equality has fallen in the wake of progress, just don't ask us to follow his example. There are only a few places a newborn baby could emerge from a man. And none of them seem very pleasant.
A pregnant man doesn't sound too pretty, but some women know how to work pregnancy to their advantage.

7 Intresting Facts about Men and Women

Men:
************
1. All men are extremely busy.
************
2. Although they are so busy, they still have time for women.
************
3. Although they have time for women, they don't really care for them.
************
4. Although they don't really care for them, they always have one around.
************
5. Although they always have one around them, they always try their luck with others.
************
6. Although they try their luck with others, they get really pissed off if the woman leaves them.
************
7. Although the woman leaves them they still don't learn from their mistakes and still try their luck with others.
************

Women:
************
1. The most important thing for a woman is financial security.
************
2. Although this is so important, they still go out and buy expensive clothes and stuff.
************
3.. Although they always buy expensive clothes, they never have something to wear.
************
4. Although they never have something to wear, they always dress beautifully.
************
5. Although they always dress beautifully, their clothes are always just "an old rag".
************
6. Although their clothes are always "just an old rag", they still expect you to compliment them.
************
7. Although they expect you to compliment them, when you do, they don't believe you.
************

New Allicart :D

Replication for this for your kid is not advisable :D

Seven Mistakes By Ethical Hackers

Several deadly mistakes — when properly executed — can wreak havoc on your ethical hacking outcomes and even your job or career.

Getting Approval in Writing

Getting approval for your ethical hacking efforts — whether it’s from upper management or the customer — is an absolute must. It’s your get out of jail free card.
Obtain documented approval that includes the following:
Explicitly lay out your plan, your schedule, and the affected systems.
Get the authorized decision-maker to sign off on the plan, agreeing to the terms and agreeing not to hold you liable for malicious use or other bad things that can happen unintentionally.
Get the signed original copy of the agreement.
No exceptions here!

 

Assuming That You Can Find All Vulnerabilities During Your Tests

So many security vulnerabilities exist — some known and just as many or more unknown — that you can’t find them all during your testing. Don’t make any guarantees that you’ll find all security vulnerabilities. You’ll be starting something that you can’t finish.
Stick to the following tenets:
Be realistic.
Use good tools.
Get to know your systems, and practice honing your techniques.

Assuming That You Can Eliminate All Security Vulnerabilities

When it comes to computers, 100 percent security has never been attainableand never will be. You can’t possibly prevent all security vulnerabilities. You’ll do fine if you
Follow best practices.
Harden your systems.
Apply as many security countermeasures as reasonably possible.

 

Performing Tests Only Once

Ethical hacking is a snapshot in time of your overall state of security. New threats and vulnerabilities surface continuously, so you must perform these tests regularly to make sure you keep up with the latest security defenses for your systems.

 

Not Using the Right Tools

Without the right tools for the task, it’s almost impossible to get anything done — at least not without driving yourself nuts! Download the free tools I mention throughout this book and list in Appendix A. Buy commercial tools if you have the inclination and the budget. No security tool does it all. Build up your toolbox over time, and get to know your tools well. This will save you
gobs of effort, plus you can impress others with your results.

 

Pounding Production Systems at the Wrong Time

One of the best ways to lose your job or customers is to run hack attacks against production systems when everyone and his brother is using them. Mr. Murphy’s Law will pay a visit and take down critical systems at the absolute worst time. Make sure you know when the best time is to perform your testing. It may be in the middle of the night. (I never said being an ethical hacker
was easy!) This may be reason enough to justify using security tools and other supporting utilities that can help automate certain ethical hacking tasks.

 

Outsourcing Testing and Not Staying Involved

Outsourcing is great, but you must stay involved. It’s a bad idea to hand over the reins to a third party for all your security testing without following up and staying on top of what’s taking place. You won’t be doing anyone a favor except your outsourced vendors by staying out of their hair. Get in their hair.
(But not like gum — that just makes everything more difficult.)

Free Phone Info Application

I was just trying to learn some flash things and thought of creating something for my W550i. After I developed it, I was astonished by the things I can do from flash and size is really small. It can be used on most of the latest phones.Although one need to have a flash lite enabled phone in order use it. But I feel most phones in the market are coming with it. I have not given it any name.

Its really cool and handy and just 4KB in size:

• You can set it as screen saver for your mobile phone and have access to frequent info on your mobile phone
• Its free
• No spyware, adware.
• Just 4 KB in Size.

Right click and choose save target as

Download It

To download this file directly to your mobile phone from WAP, enter 433331 @ http://wap.mobile9.com/

Some other applications not designed by me( courtesy http://flash4mobile.net/)

Download "Flickr Carousel" ( 8 images for "flower" keyword)

Download Tic Tac Toe for your phone!

Digg is getting buried in search

Search Fetaure on Digg is really pathetic. You really have to screw yourself real hard in irder to get something you want.

A known crap is here....

Submit a New Story - Are You Sure It's Not a Duplicate?

this feature really is of no use. It will give the list of possible duplicates which are nowhere related to the content that you are trying to submit. I am sure that they are not even checking the links of the story.

I am not sure what this page is for?

Please wait while we digg through your submission

I feel that it doesn't d anything except keeping user wait for sometime. Still if you think that I'm wrong then let me give you an example.

Check these two links:

http://digg.com/tech_news/The_Hidden_Influencers_of_Digg_3

http://digg.com/tech_news/The_Hidden_Influencers_of_Digg_2

Both the stories have same heading, same description and mind you..... same link too. How is it possible? Why digg is allowing me to submit the same link twice? Is it a limitation?

Digg is really doing a great job by introducing new features(pictures, Video...and may be torrents too ;), but they should concentrate more on the basic things like searching, I hope all of you will agree to to my view that digg search sucks and most of the times you would be using google to search digg, so why don't digg integrates google serch in the site to improve the user experience.

This is just a suggestion to the digg guys to improve the functionality of the site. No offence :)

5 HDTV accessories to have

	Belkin PureAV HDMI-to-DVI cable When to use it: The latest set-top boxes, upscaling DVD players, and HDTVs use an all-digital HDMI connection for video hookups. Slightly older models are equipped with DVI jacks--HDMI's bigger, older brother. Belkin's handy converter cable--it has an HDMI plug on one end and one for DVI on the other--bridges the divide, allowing you to connect an HDMI source to a DVI display, or vice-versa.
	Monster Cable HDMI-DVI adapter When to use it: Your cable company set you up with a bleeding-edge set-top box equipped with an HDMI port, and it even included a matching cable. But your HDTV--only 18 months old--sports an older DVI connector. Don't fret: you can easily convert your DVI jack to an HDMI version by affixing this handy Monster Cable dongle.
	Belkin PureAV DVI dual-link cable When to use it: Unlike the mix-and-match scenarios above, anyone with an all-DVI setup--an HDTV monitor and an upscaling DVD player, for instance--should opt for a cable with DVI connections at both ends. These versatile cables will also work with the increasing number of DVI-equipped PC video cards and monitors.
	Gefen DVI HDTV switcher (EXT-HDTV-241) When to use it: DVI is a tad older than HDMI, but when it comes to A/V receivers, it's just as scarce. If you need to switch between multiple DVI-enabled devices, Gefen's HDTV switcher will get the job done.
	Zenith ZHDTV1 Silver Sensor indoor antenna When to use it: If you're unable to do an outdoor antenna installation (in an apartment, for instance), opt for an indoor model instead. The ZHDTV1 Silver Sensor is an affordable and retro-stylish way to pull in those digital signals without bolting something to the roof. This indoor antenna offers a no-fuss connection to your HD tuner, whether you have an integrated HDTV or a separate set-top box.

Digg was down again

Difference between 1990 and 2008

 

Rajnikant in Dhoom-3???

Bollywood Flick dhoom series has Sooth supertstar Rajnikant in its latest sequel.

Here is an exlusive clip from Dhoom

 

 

LOL...........