should jag be bailed out

[Trazor]

This countrys main industries are tertiary and service industries.

They are not industries, and they produce no wealth, merely drain it.

The banking industry will survive as it is international.

As you are now well aware, they failed miserably as international banks, sub prime etc.

How many banks went down in the eighties when many of our heavy industries went under?

Sufficient wealth producing industries survived to keep us going.

As has now been proved beyond any doubt, relying on the banks/financial institutions to create wealth, is a fools paradise.
To put it simply, our manufacturing industries need to export more than we import to reduce our debt, thus increasing the wealth of this country.

 

[Thermo]

if our services industries do not make money, where does this countries money come from?

 

[Trazor]

if our services industries do not make money, where does this countries money come from?

Perhaps we are at odds here, which services are you referring to?

 

[Thermo]

im refering to banking, invsetment markets, insurance, financial services, it, training etc etc. Many of them are global and bring a lot of export wealth into the country and attract oversees investment in this country, that we woefully lack from our heavy industries and many light industries that have sadly gone.

 

[blondini]

Both companies produce in the main gas guzzlers which the government is penalizing in various ways and is committed to driving off the roads
Therefore surely part of the reason for their existing predicament is that they are producing a product which is in a declining market.
It seems to me that, irrespective of the current economic climate, the long term prospects of these companies is limited.

Or maybe it's just the Global Financial Crisis.

17 April 2008
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The Duke of York congratulates Jaguar Land Rover on their export success

His Royal Highness, The Duke of York, in his capacity as Special Representative for International Trade and Investment, has commended Jaguar Land Rover on their impressive export record.

Together, Jaguar and Land Rover are believed to be the UK's most valuable automotive export, shipping over £6billion worth of automotive product overseas each year.

The Duke of York commented: "I am delighted that Jaguar and Land Rover are experiencing such success overseas. Both brands represent the very best of British design, engineering and manufacturing and it is fantastic to see them performing so well on a global scale.

I am particularly impressed by Jaguar and Land Rover's recent sales performance in key emerging markets such as Russia and China. The ability to capitalise on new areas of growth, whilst consolidating performance in traditional markets, is crucial if British brands are to thrive on a global scale"

Last year, Land Rover sales in Russia were up 95% on the previous year, whilst Jaguar increased sales by 22%. In China, the combined brands sold 49% more vehicles in 2007 than 2006.

This year's first quarter results suggest global sales for both brands will stay strong throughout 2008. Across all markets, Land Rover sold almost 58,000 vehicles in the first quarter of this year - a company record.

The Duke viewed production of the Land Rover Freelander 2 and Jaguar X-TYPE during his visit to Halewood Operations on Merseyside. Both vehicles have played a crucial role in establishing the Jaguar and Land Rover brands in key new markets around the world.

The Halewood plant has recently launched several new products including the New Freelander 2 HST and Freelander Commercial derivatives as well as the Jaguar X-TYPE 2.2 Diesel Automatic.

During the visit, His Royal Highness took time to congratulate the Halewood workforce on their achievements, commenting "Those of us who drive your vehicles around the world are extremely proud of them. Today I have seen a unique and very impressive manufacturing plant.....and a workforce who are happy, committed and proud of what they do. You have achieved a great deal in the six years that I was last here and on that I congratulate you."

 

[kevplumb]

TBF theres plenty of them in the states

 

[xerxes]

In principle, painful though it is companies shouldn't be bailed out. Surely we learned in the past that subsidising failure only leads to greater calamity.

To some extent, Jaguar is the author of its own misfortunes in that it's been making cars that people don't want to buy or if (like Land Rover) it hasn't tackled its quality control properly.

But they're also the victim of the banks whose disastrous policies have got everyone else into a mess, and of a government which engineered a boom based on easy credit (and excluded the cost of housing from the cost of living index, and concealed a dangerous inflationary bubble which has now burst).

They're also a victim of a government which has talked up the bogus science of 'climate change', and turned many people away from larger engined vehicles.

 

[2scoops0406]

At last some sense

 

[kevplumb]

bout time