Fwd: Ford buys Volvo

[16V JASON <jason@scirocco.org>]

Off-topic but very scary:

>This came over an internet news feed I receive during the day...
>
>DEARBORN, Mich. (Reuters) - Ford Motor Co. stepping up the pace of
>global
>auto consolidation, said Thursday it will pay $6.45 billion in cash for
>the car division of Sweden's AB Volvo to broaden its luxury car range
>and
>reinvigorate the Swedish brand. 
>
>``We have huge potential to expand Volvo car,'' Ford Chief Executive Jac
>Nasser told a news conference in Sweden. ``It's our intention to nurture
>and be a good custodian for Volvo cars.''
>
>Ford won Volvo following a bidding war that also involved Fiat Spa and
>Volkswagen AG . Analysts said a rival bid is possible but unlikely given
>the unanimous support Volvo's management and board have voiced for the
>sale.
>
>Ford officials said the $6.45 billion price tag is equal to 15 times
>earnings, about the same multiple on some other European automakers.
>Although cash-rich Ford finished 1998 with nearly $24 billion in the
>bank, some analysts questioned the price Ford paid.
>
>Just FYI
>Steve Albrecht
>Golden Gate Chapter
>'95 540
> 


----------
jason@scirocco.org
1987 Scirocco 16v
57,000 original miles.
http://members.aol.com/rocco16v  

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