US auto majors in deep trouble
The US Automobile industry was the most respected entities across the globe a decade back. In the last one decade, the dominance of the US auto majors like General Motors, Ford and Chrysler was reduced slowly by the Japanese auto majors.
The current economic turmoil in the US economy has weakened these US auto majors further, and all the three have been reporting huge losses, running into billions of dollars, in the last few quarters. The US government has already provided a decent amount of bail out funding to these companies, which seems to be grossly inadequate.
Given the global crisis, at least one or two of the US auto majors might be forced to go under in 2009.
Also, if the current turmoil continues in US, and also if China continues to post decent positive growth rate, then China might overtake US as the world’s largest four wheeler market by 2011.
30.11.2008 Pakistani Terrorists attack Indian city
Ten trained young Pakistani terrorists have come through the sea route and sneaked into the financial capital city of Mumbai in the last two weeks. They then took control of one apartment and two prominent hotels, including the Mumbai Taj Heritage hotels.
After four days of fierce fighting, and loss of over 20 policemen and anti-terrorist squad members, nine out of ten terrorists were killed and one was captured alive.
As of now, Pakistan has not accepted that the terrorists have originated from their country. The initial investigation reveals that these terrorists have been provided very professional training in handling all kinds of grenades / machine guns / and other heavy fighting tools.
The Indian authorities are also suspecting the hand of the Pakistani Intelligence arm, ISI, in providing training to these terrorists. The key reason for these young people to take to terrorism, could be the pathetic condition of most of the Pakistani towns and cities. That might have forced these people to take the only avenue available for taking care of their basic needs I.e, food , clothing and shelter.
