Archive | 20:20

Genghis Khan Is Back: Volvo To Challenge BMW, Audi, Mercedes

30 Aug

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Volvo Cars, the Swedish automaker owned by Zhejiang Geely Holding Group Co., plans to challenge Bayerische Motoren Werke AG and Daimler AG with its new V60 station wagon in Europe.

The V60, which started production today at the Torslanda plant near Volvo’s Gothenburg, Sweden, headquarters, features a sloping rear windscreen that gives it a sportier look compared to the carmaker’s V70 and V50 station wagons. Volvo will use the model to challenge BMW’s 3 Series Touring, Volkswagen AG’s Audi A4 Avant and Daimler’s Mercedes-Benz C-Class.”

Bloomberg discussed the plans with Volvo’s Tomas Ahlborg; Read the full interview here.

The Mongol Empire never got a firm hold of Europe in the 13th Century, and after Khan the Chinese never quite learned the art of  conquering other parts of the world (unlike the European Merchants). I doubt that it is any easier today, especially with an auto industry already struggling in a sluggish market, americans subsidizing their brands and excellent German engineering occupying a substantial share of the targeted market. Why not consentrate on trying to excel in Asia first?

Got to hand it to Volvo, they did a great job losing that boxy look.

[images via niotauto.netiloveindia.com, bmwcoop.comyosax.com]

Exess Housing: U.S. = Canada x2

30 Aug

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“The number of vacant houses in the U.S. is now about 2x the entire Canadian housing stock according to a new Moody’s report.”

[via Paul Kedrosky]

Happy 80th Birthday, Warren Buffett!

30 Aug

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Warren Buffet

“In March Buffet claimed that money put into his flagship company, Berkshire Hathaway [BRK.A  118100.0   3667.00  (+3.2%) ] had returned an average of 20% in annualized gains over a 45-year period. He is the third richest man in the world with a net worth of $47 billion, according to Forbes. In 2006 he said he would give most of his fortune to charity.”

More from CNBC: As Warren Buffett Turns 80, A Look Back at His Life.

[Quote via MarketWatch]

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