Monthly Archives: August 2009
TATA secures private funding for JLR
Given all the flack that’s been flying about for eternity about the terms being imposed by the British Government on Tata for a loan to save JLR, I was pleased to read that Tata has secured non-government finance for JLR, which I’m sure would’ve been their first choice of funding, in any case.
In Tata’s benefit, I’d like to add that their track record demonstrates their commitment to fairness and responsible behaviour. They, themselves, wouldn’t have wanted taxpayer money, unless they were in such dire straits, as has been the case with JLR.
However, Mandelson was right to ensure that the benefit of any funds has to favour the taxpayer. He’s played a great game in ensuring that Tata work harder to secure funding from other sources.
For me what has been remarkable is the way and extent that Tata have used the media to get their points across. Generally speaking, Indian CEO’s shoot from the hip and everything Tata has said on-air has been well scripted and spoken. Take for example Ratan Tata’s appearance on Sky News in which he asked the government not to “play chicken with him”. Such articulation is rare in Indian business circles.
Full marks to his advisers.