Worlds Cheapest Car Tata

This is Great news in this troubling economy. This car costs $2000 and is a great value. It doesn't have some unnessasary features but it's good. Cars like this will take over the market. I LOVE this car is so great. It is realesed today And I might buy one their so great. YOu should buy one too.

India's Tata rolls out world's cheapest car
by Salil Panchal Salil Panchal Mon Mar 23, 11:55 am ET

MUMBAI (AFP) – India's Tata Motors on Monday launched the world's cheapest car, the Nano, hoping to revolutionise travel for millions and buck a slump in auto sales caused by the global economic crisis.
Company boss Ratan Tata said the no-frills vehicle, slated to cost just 100,000 rupees (2,000 dollars) for the basic model, will get India's middle-class urban population off motorcycles and into safer, affordable cars.
"I think we are at the gates of offering a new form of transport to the people of India and later, I hope, other markets elsewhere in the world," he said, describing the launch as a "milestone."
"The present economic situation makes it somewhat... more attractive to the buying public," he told reporters in Mumbai.
The wraps were taken off three Nanos -- dubbed "The People's Car" -- at a glitzy, open-air ceremony at a south Mumbai sports ground.
Tata confirmed that the basic model would be 100,000 rupees direct from the factory, not including tax and transportation. The cheapest showroom price is 112,735 rupees.
Potential owners of the car -- which is just over three metres (10 feet) long and has a top speed of 105 kilometres (65 miles) per hour -- can apply between April 9 and 25, Tata managing director Ravi Kant said.
A ballot will then select 100,000 people to be the first to get the keys to the vehicle and deliveries will start in early July 2009, he added.
Even affluent Indians are eyeing up the Nano, which has a two-cylinder engine and four-speed manual transmission but no air conditioning, electric windows or power steering.
Versions with air conditioning and power steering will be available, costing up to 170,335 rupees for a deluxe model straight from the factory floor, or 185,375 from a Mumbai showroom.
Shares in Tata Motors on India's 30-share Sensex index jumped eight percent in early trade but finally closed 2.8 percent up on profit-taking.
Car dealers say they have been flooded with queries about the Nano, whose debut was delayed after violent protests over the acquisition of farmland to build the plant, forcing Tata Motors to shift from West Bengal state.
But the new plant in Gujarat in western India will not be ready until late this year or early 2010, Tata said, meaning production must come from existing factories, reducing output and increasing waiting times for deliveries.
Kant said 250,000 to 500,000 cars could be produced from the Gujarat plant from next year but admitted some customers may have to wait more than 12 months in the meantime to take possession of their Nano.
Tata, though, said it was the right decision to push ahead with Monday's launch of the 20-billion-rupee project.
The Nano's arrival comes at a tough time for India's top vehicle maker, hit by the economic slowdown at home and abroad as it tries to absorb the British luxury marques Jaguar and Land Rover that it bought last year for 2.3 billion dollars.
Tata is hoping the Nano will also be a hit overseas in the long term.
Earlier this month, the firm unveiled a European Nano sporting airbags and leather trim that will hit the market by 2011 but be costlier than in India due to the extra features.
A US version is also on the drawing board but requires redesigning to meet American safety standards.
Environmentalists, however, fear the Nano will accelerate congestion on India's already crowded, pot-holed roads and add to choking pollution.
"Every car that goes on the road is going to use road space. We're only adding to congestion," said Rajendra Pachauri, head of the UN's climate panel, which won the 2007 Nobel Prize.
Tata countered by saying that the Nano would be the least polluting car in India.

Citigroup Having Good Quater

This is Better. Citi is gaining some money so that is good. Hopefully the economy will start to pick up and things will get better. Lets hope all the banks do better cause that would be better for all of us. 2009 is looking better than it did before.

March 10 (Bloomberg) -- Citigroup Inc. Chief Executive Officer Vikram Pandit said his bank is having the best quarter since 2007, when it last posted a profit. The shares rose as much as 27 percent and helped spur gains for finance company stocks.

“I am most encouraged with the strength of our business so far in 2009,” Pandit wrote in an internal memorandum obtained today by Bloomberg. “In fact, we are profitable through the first two months of 2009 and are having our best quarter-to-date performance since the third quarter of 2007.”

Citigroup has logged five quarters of losses totaling more than $37.5 billion since it posted a $2.1 billion profit in the third quarter of 2007. Once the world’s biggest bank by market value, it fell below $1 in New York trading last week for the first time as investors lost confidence that the shares can recover after losses and a government rescue.

“I am, like you, disappointed with our current stock price and the broad-based misperceptions about our company and its financial position,” Pandit, 52, said in the memo, adding that the price doesn’t reflect the New York-based bank’s capital strength and earnings potential. The company had $19 billion of revenue in January and February excluding writedowns that have already been disclosed, Pandit said.

Shares Climb

Citigroup gained 28 cents to $1.33 in composite trading on the New York Stock Exchange at 9:35 a.m. The stock tumbled 95 percent in the past year, cutting the bank’s market value to about $5.8 billion. The bank is the smallest company and the worst-performing stock in the 30-member Dow Jones Industrial Average.

Shares of New York-based JPMorgan Chase & Co. gained 13 percent to $17.96, and Charlotte, North Carolina-based Bank of America Corp. rose 19 percent to $4.48.

Pandit’s upbeat remarks follow similar comments from Bank of America CEO Kenneth Lewis, who said last month that January results were “encouraging.” Morgan Stanley Chief Financial Officer Colm Kelleher said last month that the firm had a “good start” in January. Goldman Sachs Group Inc. is showing strong trading profits in 2009, Sandler O’Neill & Partners LLP analyst Jeffrey Harte wrote in a note last month after meeting with top Goldman executives.

“From a trading standpoint I think this is going to be a very good quarter for a number of companies, including Morgan Stanley, Goldman Sachs, JPMorgan and Citigroup, because the environment has changed dramatically,” said Richard Bove, an analyst at Rochdale Securities in Lutz, Florida. “The number of competitors has shrunk and the size of the business has increased, plus prices have gone up.”

Government Stake

The government’s plan to exchange its preferred stock for common shares will make Citigroup the strongest U.S. bank measured by tangible common equity, Pandit said in the memo. The transaction will also make the U.S. Citigroup’s biggest shareholder, with a 36 percent stake.

Regulators are examining ways to further stabilize Citigroup if needed, the Wall Street Journal reported today, citing people it didn’t identify. Federal officials called the steps “contingency planning” and aren’t expecting a sudden turn for the worse, the Journal said.

Citigroup’s deposits are “relatively stable,” Pandit said in his memo to employees. The bank has also conducted its own stress tests, using assumptions more pessimistic that the Federal Reserve’s, he said, adding that the bank is “confident” about its capital strength. Expenses totaled $8.1 billion in the year through February, less than Citigroup’s target, Pandit said.

Citigroup is expected to post a loss of 32 cents for the quarter, the average estimate of 11 analysts in a Bloomberg survey. Bove said Citigroup may turn a profit.

“It’s quite possible that they could have a positive result,” Bove said. “If they show a profit and if Bank of America shows a profit, it will be a shock to the people who have been selling these stocks so aggressively.”

Obama Says Crisis is Great Time of Opportunity

I don't know If the best type of opportunity is in crisis. I'm sure thought a lot of new things will be invented because of the economic crisis though. People may try to do new things after reading this. Obama is a smart and intelligent man. Lets hope we can all pull through this crisis.

WASHINGTON (AP) - President Barack Obama on Saturday challenged his country to see its hard times as a chance to "discover great opportunity in the midst of great crisis."

"That is what we can do and must do today. And I am absolutely confident that is what we will do," Obama said in his weekly radio and video address, taped a day earlier at the White House.

The work week ended on more down news, with the report of 651,000 more American jobs slashed and an unemployment rate climbing to 8.1 percent. That is the highest rate of people out of work in more than 25 years, as the recession continued to put enormous pressures on families and industries.

Obama recapped the work of the latest hectic week in his young presidency. His goal was to reassure the country that he and his team are taking specific steps to create jobs in the short term and begin to address huge issues such as health care.

(AP) Members of the audience say the Pledge of Allegiance before President Barack Obama's town hall... Full Image

His rundown of the past week: the launch of a more detailed plan to help struggling homeowners avoid foreclosure; a new credit plan to spur lending for people and businesses; an overhaul of the way the government hands out private contracts to reduce waste; and a summit on how to overhaul health care.

On the last point, Obama has set a goal of signing a bill this year that would fix the U.S. health care system, which is the costliest in the world and leaves an estimated 48 million people uninsured, plus many others lacking adequate coverage.

"Our ideas and opinions about how to achieve this reform will vary, but our goal must be the same: quality, affordable health care for every American that no longer overwhelms the budgets of families, businesses and our government," Obama said.

Obama says he is not wedded to a plan on how to fix the problem. But one proposal he has endorsed, giving Americans the option of buying medical coverage through a government plan, is drawing opposition from Republicans.

Rep. Roy Blunt, R-Mo., emphasized that point in the Republican weekly radio address.

"I'm concerned that if the government steps in it will eventually push out the private health care plans millions of Americans enjoy today," Blunt said. "This could cause your employer to simply stop offering coverage, hoping the government will pick up the slack."

As the White House takes on so many huge issues at once, Obama is encouraging people to take a longer view, and not get caught up in the fits and starts. The president said in his address that the nation will continue to face difficult days in the months ahead. Still, he ended with hope.

"Yes, this is a moment of challenge for our country," Obama said. "But we've experienced great trials before. And with every test, each generation has found the capacity to not only endure, but to prosper - to discover great opportunity in the midst of great crisis."