Bloomberg News's reporting FoMoCo's in talks to sell some of its luxe brands from its Premier Automotive Group (NAMBLA) with a group led by none other than former Ford Chief Executive Officer Jacques Nasser. This is the same guy who FoMoCo's board fired just five years ago after the whole Firestone tires thing — and the same CEO who created the PAG in the first place — a group including Euro brands Jaguar, Land Rover and Volvo. Although the deal being discussed doesn't involve Volvo, no one seems to know how far the talks have progressed. Which makes us ask the really important question — what the hell is with the automotive industry? We feel like...
...they keep on dragging up the same old characters pulling the same old shit year after year. Over the years we've seen Lee Iacocca trying to pull a fast one over Chrysler with the help of Kirk Kerkorian, and more recently Kirk Kerkorian trying to pull a fast one over GM with the help of Jerry York and Carlos Ghosn. I guess all we're waiting on is whether or not Nasser's One Equity Partners is partly owned by Kirk Kerkorian's Tracinda — and we're ready to call a KirkKerk tri-fecta over the US auto industry.
But really, the nice thing for FoMoCo if something like this is true, is that it gives Ford a way to cut the money losing PAG (specifically Jaguar which made up the lion's share of the $162 million loss by the luxe group) making them more palatable for a
merger of equals
alliance with Renault-Nissan — or if the real goal is to go private, it gives them a way to build capital for stock purchase and cut total value of the stock simultaneously. Wow, the mind reels at such thoughts. We're gonna go and snort some lines of Ritalin and try to mind-map this shit out.
Where's The Wild-Ass Speculation On Ford's Private Plan? [internal]