, Columnist
The Jaguar That Ate Tata
Troubled carmakers are often only a few blockbusting designs away from success.
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When India's Tata Motors bought Jaguar and Land Rover from Ford in 2008, many investors thought then-Chairman Ratan Tata was making a big mistake.
Ford was selling the units for less than half what it paid to acquire them, just as early tremors of the credit crisis began sapping luxury demand. The day before the deal was announced on Jan. 3, 2008, West Texas Intermediate crude reached $100 a barrel for the first time, suggesting a tough environment for gas-guzzling sports cars and four-wheel drives.