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LONDON , Nov 16 (Reuters) - Jaguar Land Rover is expected
to announce on Monday that it has secured a 170-million-pound
($282.5 million) working capital facility from GE Capital
, the Financial Times newspaper said.

The five-year loan would help the money-losing car company,
owned by India's Tata Motors (TAMO.BO), as it is struggling in
the global financial downturn.

The loan will be drawn down as soon as vehicles are made in
its three UK production lines, the paper said.

It will boost the working capital for Jaguar by shortening
the 30- to 40-day gap it has to wait between producing cars and
delivering them to dealerships, the paper said.

“We are talking to several other European carmakers about a
similar facility, but as far as we know, this is the first of
its kind,” Rich Green, chief executive officer of GE Capital's
distribution finance business said in the Financial Times.

No one at Jaguar Land Rover was immediately available to
comment.
(Reporting by Sharon Lindores; Editing by Jan Paschal)
($1=.6017 Pound)

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I once owned a car that had a brake pedal so small that I had difficulty keeping my foot on it. My foot would slip off of the pedal and sometimes it would hit the gas pedal, causing the car to accelerate. It was mighty scary, believe me. I finally had to purchase another pedal and replace the old brake pedal with a bigger one.

I don't recall reading any recalls on that particular problem, but there have been many recalls over the years, some of them to fix problems that could eventually be fatal.

Remember the Ford Pinto? I remember a friend of mine who had one. The Pinto had a gas tank that hung down below the rear bumper of the car. They also had these big heavy front doors and no back door.

In the event of a rear end collision, the gas tank would explode and the front door would jam shut, trapping the driver inside the vehicle. Several people died as a result of this.

The problem could be remedied with a $3.00 part that went on the bumper and prevented it from puncturing the gas tank. Ford recognized this and decided that it would be cheaper just to pay the lawsuits that resulted from the accidents than retool and fix the problem.

But sometimes the safety issue didn't lie with the automobile manufacturer. There were the Audis a few years ago that had a gas pedal that would sometimes get stuck. Or so that's what they thought until they found out that part of the blame rested with the driver.

Like with my brake pedal, the pedals in the Audi were so small that the driver often confused the two and hit the gas when they thought they were hitting the brake. They put it down as “driver error.”

Then you had the Chevy Corvairs that were unstable. If the air pressure wasn't just right in the rear tires, then the vehicle would bounce around on the road, causing the driver to lose control of the vehicle.

So it looks like recalls are inevitable as long as they keep manufacturing cars. After all, the engineers are human and the way that we learn is by human error.

We can just hope that the manufacturers are responsible enough to get the cars off of the road and repair them and not try to hide the problem like they have sometimes in the past.

The latest recall, according to CNN, is with the world's largest car maker, Toyota. Some 3-8 million cars are being recalled because the floor mats on the drivers side may cause the gas pedal to push down, causing the vehicle to travel at high rates of speed.

This is the second time the mats have been recalled which leads on to believe that nothing was done about the problem in the first place. Let's hope they can fix the problem this time before any lives are lost.

Source: http://money.cnn.com/2009/09/29/news/companies/toyota_lexus_floor_mats/index.htm?postversion=2009092918

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