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January 5, 2012

Lambert officials predict April reopening for tornado-damaged concourse

Filed under: Homes, Mortgage — Tags: , , , — DoctorBusiness @ 2:16 am

Lambert-St. Louis International Airport officials confirmed Wednesday that they are targeting an April reopening of the tornado-damaged C Concourse.

Airport Director Rhonda Hamm-Niebruegge told airport commissioners that restrooms in the concourse have been renovated and storm-damaged windows have been replaced.

Storm repairs are being made in concert with planned terminal renovations, which include new ceilings and lighting.

“We would like to do a behind-the-scenes public event before it opens,” Hamm-Niebruegge said. “We kind of wanted to do a big splash for the business community.”

The event would likely occur a couple of days before the renovations are complete.

An EF-4 tornado slammed into the airport on April 22, causing extensive damage to the C Concourse, which remains closed. Airlines that were housed in that part of Terminal 1 were temporarily moved to other gates not in use at the time guaranteed pay day loans.

The tornado also broke numerous windows on the main terminal building, which remained boarded up for months. The tornado also damaged cars that were parked on the top level of the Terminal 1 hourly parking garage.

The extensive damage caused the first prolonged closure at Lambert since the Sept. 11, 2001, terrorist attacks grounded air travel across the United States.

After emergency repairs and cleanup, the airport reopened to limited commercial air traffic within 24 hours.

Source

January 1, 2012

South Korea

Filed under: marketing, term — Tags: , , , — DoctorBusiness @ 8:56 pm

South Korean President Lee Myung Bak said a new era in inter-Korean relations was possible if the North begins behaving sincerely, after the nuclear-armed nation accused Lee of

December 29, 2011

ECB Balance Sheet Increases to Record $3.55 Trillion After Loans to Banks - Bloomberg

Filed under: Business, money — Tags: , , , — DoctorBusiness @ 5:28 am

The European Central Bank

December 26, 2011

BofA

Filed under: Europe, news — Tags: , , , — DoctorBusiness @ 2:42 am

+%3Cp%3EBank+of+America+Corp.+Chief+Executive+Officer+Brian+T.+Moynihan+said+U.S.+economic+growth+will+be+slow+next+year+and+that+companies+aren%92t+using+stockpiles+of+cash+to+build+their+businesses.+%3C%2Fp%3E+%3Cp%3E%932012+will+be+another+year+that%92s+a+grind+in+the+economy%2C%94+Moynihan%2C+52%2C+said+today+at+an+economic+outlook+conference+held+in+Charlotte%2C+North+Carolina%2C+where+the+company+is+based.+%93Never+have+middle-market+and+large+companies+been+as+profitable%2C+had+as+much+cash+on+their+%3Ca+topic_url%3D%22http%3A%2F%2Ftopics.bloomberg.com%2Fs%26amp%3Bp-500-index%2F%22+href%3D%22http%3A%2F%2Fwww.bloomberg.com%2Fapps%2Fquote%3Fticker%3DSPX%3AIND%22+density%3D%22full%22+title%3D%22Get+Quote%22+ticker%3D%22SPX%3AIND%22+class%3D%22web_ticker%22%3Ebalance+sheet+%28SPX%29%2C+had+as+much+availability+on+their+lines%2C+but+they+haven%92t+done+anything+with+the+money.+They+don%92t+feel+the+certainty+of+opportunity+to+make+big+investments.%94+%3C%2Fp%3E+%3Cp%3EBank+of+America%2C+the+second-biggest+U.S.+lender+by+deposits%2C+is+cutting+costs+amid+stagnant+revenue.+The+company+has+been+hurt+by+weak+economic+growth+and+concern+that+Europe%92s+debt+crisis+will+spread+through+the+world%92s+financial+system.+Shares+of+the+firm+dropped+more+than+60+percent+this+year+and+fell+below+%245+today+for+the+first+time+since+March+2009.+%3C%2Fp%3E+%3Cp%3EThe+U.S.+economy+may+expand+about+2.1+percent+next+year%2C+Moynihan+said.+Consumer+spending+was+%93modestly+encouraging%94+at+about+5+percent+higher+this+month+than+the+year-earlier+period%2C+he+said.+Employment+won%92t+improve+%93a+lot%94+in+2012%2C+he+said.+%3C%2Fp%3E+Slower+Growth++%3Cp%3EMoynihan%92s+comments+follow+an+economic+report+last+week+from+Bank+of+America+researchers+that+projected+that+the+U.S.+economy+will+slow+to+1+percent+growth+by+the+fourth+quarter+of+2012+as+Europe+enters+recession.+%3C%2Fp%3E+%3Cp%3EThe+risk+from+a+European+sovereign+default+%93is+not+what+people+think%2C%94+Moynihan+said.+Bank+of+America+had+about+%2414.6+billion+at+risk+in+Greece%2C+Ireland%2C+Italy%2C+Portugal+and+Spain+as+of+Sept.+30%2C+compared+with+about+%2416.7+billion+at+the+end+of+the+second+quarter.+%3C%2Fp%3E+%3Cp%3E%93It%92s+not+the+bank+%3Ca+topic_url%3D%22http%3A%2F%2Ftopics+%3Ca+href%3D%22http%3A%2F%2Fus-paydayloans.com%22%3Epaydayloan%3C%2Fa%3E%3C%21–+.+–%3E.bloomberg.com%2Fbank-of-america-corp%2F%22+href%3D%22http%3A%2F%2Fwww.bloomberg.com%2Fapps%2Fquote%3Fticker%3DBAC%3AUS%22+density%3D%22sparse%22+title%3D%22Get+Quote%22+ticker%3D%22BAC%3AUS%22+class%3D%22web_ticker%22%3Ebalance+sheets+%28BAC%29+that%92s+really+under+attack+here+for+us+or+our+competitors%2C%94+Moynihan+said.+%93The+risk+is+that+an+economy+which+in+the+aggregate+is+as+big+as+the+U.S.+having+a+recessionary+environment+obviously+pulls+down+worldwide+growth.%94+%3C%2Fp%3E+%3Cp%3ERecord+low+yields+for+U.S.+Treasuries+amid+rising+borrowing+costs+for+some+European+nations%2C+a+so-called+flight+to+quality%2C+is+another+sign+that+%93no+one+is+taking+risk%2C%94+Moynihan+said.+%3C%2Fp%3E+%3Cp%3EThere+was+%93no+question%94+that+new+international+rules+for+bank+capital+have+lowered+the+lender%92s+leverage%2C+Moynihan+said.+An+increase+of+1+percent+in+capital+requirements+cuts+the+ability+to+lend+by+about+10+percent%2C+he+said.+%3C%2Fp%3E+Achieving+Balance++%3Cp%3E%93The+question+is%2C+did+we+get+the+balance+right%2C%94+Moynihan+said%2C+%93Or+did+we+swing+the+pendulum+too+far+where+we%92ve+underleveraged+financial+services+to+have+an+effect+on+growth%3F%94+%3C%2Fp%3E+%3Cp%3EMoynihan+spoke+as+part+of+a+panel+that+included+Jeffrey+Lacker%2C+president+of+the+Federal+Reserve+Bank+of+Richmond%2C+who+said+impediments+to+economic+growth+will+be+%93deeper+and+more+persistent+than+we+thought+a+year+ago.%94+%3C%2Fp%3E+%3Cp%3EObstacles+Lacker+cited+include+the+oversupply+of+housing%2C+a+mismatch+of+skills+between+unemployed+people+and+new+jobs%2C+changes+in+tax+policy+and+regulations+and+the+%93murky+federal+budget+outlook.%94+%3C%2Fp%3E+%3Cp%3EAnother+panelist%2C+Duke+Energy+Corp.+CEO+Jim+Rogers%2C+drew+laughter+by+referencing+Bank+of+America%92s+failed+attempt+to+charge+some+customers+%245+per+month+to+use+their+debit+cards.+%3C%2Fp%3E+%3Cp%3E%93Talking+about+the+economy+is+so+depressing%2C%94+Rogers+said.+%93I+was+about+to+pull+some+data+from+Bank+of+America%2C+but+they+wanted+to+charge+me+5+bucks.%94+%3C%2Fp%3E++%3Cp%3E%3Ca+href%3D%27http%3A%2F%2Fwww.bloomberg.com%2Fnews%2F2011-12-19%2Fbofa-s-moynihan-predicts-u-s-economy-will-expand-slowly-again-next-year.html%27+rel%3D%27nofollow%27%3ESource%3C%2Fa%3E%3C%2Fp%3E+

December 19, 2011

World stocks jolted by North Korean leader’s death

Filed under: Business, management — Tags: , , , — DoctorBusiness @ 4:44 am

World stocks began the week with a jolt Monday as the death of North Korea’s absolute ruler, Kim Jong Il, added to the uncertainties clouding the outlook for financial markets.

South Korea’s Kospi index dived nearly 5 percent but later recouped some losses to close 3.4 percent lower at 1,776.93. The Korean won also fell, losing 1.6 percent against the U.S. dollar, a traditional haven in times of uncertainty. The Japanese yen, euro and other regional currencies also weakened against the dollar.

Japan’s Nikkei 225 index dropped 1.3 percent to 8,296.12. Hong Kong’s Hang Seng slid 1.2 percent to 18,070.21 and the Shanghai Composite Index rebounded from earlier losses to finish down 0.3 percent at 2,218.24.

Kim Jong Il’s death, announced Monday by North Korean state television, raises the spectre of more instability on the divided Korean peninsula as the reclusive regime undergoes a leadership succession.

Those worries are most acute in South Korea and Japan, which have often been the targets of North Korea’s mercurial military and diplomatic actions.

“We’re seeing deeper negative sentiment in some markets,” said Dariusz Kowalczyk, strategist at Credit Agricole CIB, in Hong Kong. “Basically this is because risk aversion on the geopolitical front has increased given that there’s a transition of power in a relatively unstable country. So we’re seeing an impact on equities, currencies.”

In Europe, Britain’s FTSE 100 lost 0.5 percent to 5,363.11 and Germany’s DAX slipped 0.3 percent to 5,687.62. France’s CAC-40 fell 0.3 percent to 2,961.74. Wall Street was set to open lower with Dow futures off 0.1 percent at 11,770. Broader S&P 500 futures shed 0.1 percent to 1,210.20.

South Korea’s military and police went on alert and President Lee Myung-bak, convened a national security council meeting. Japanese leaders said they were watching markets closely and in contact with the U.S., Kyodo News Agency reported.

“We need to prepare for any contingencies,” Kyodo quoted Jun Azumi, the Japanese finance minister, as saying.

Kim was ailing after suffering what is thought to have been a stroke in 2008 and died at age 69 on Saturday.

North Korea’s official Korean Central News Agency on Monday identified his third son, the twenty-something Kim Jong Un, as the “great successor” to the man known officially as the “Dear Leader.”

But even with the younger Kim designated as his father’s successor, and already filling high-ranking posts, some experts fear a behind-the-scenes power struggle or nuclear instability fast cash now.

Fitch Ratings, which spooked markets across the globe with a warning Friday it may downgrade ratings of a half-dozen European countries, said it did not view Kim’s death “as a trigger for negative action on South Korea’s sovereign ratings in itself.”

“For now, it’s much too early to say risks have materially increased, but clearly we will keep the situation under close review,” said Andrew Colquhoun, head of Fitch’s Asia-Pacific sovereigns.

Markets in Taiwan, Singapore, Australia, New Zealand and Indonesia also sank on Monday.

“Particularly with the bearish market sentiment now, any negative news will make the market much more gloomy,” said Kwong Man Bun, chief operating officer at KGI Securities in Hong Kong. The Hong Kong benchmark dipped 100 points after North Korea’s announcement which “reflects concern over potential political instability,” he said.

Still, barring unexpected developments in Pyongyang the impact of Kim’s death on markets is likely to be passing, analysts said.

“In the short term there will be some psychological uncertainty but I think things will go back to the fundamentals,” said Steven Leung, director of institutional sales at UOB-Kay Hian Ltd. in Hong Kong.

Kim’s death overshadowed what already was a gloomy start to the week after Fitch warned it may downgrade the credit ratings of heavyweights Italy and Spain, as well as Belgium, Cyprus, Ireland and Slovenia.

Coming just a week after EU leaders struck a deal they thought would contain the continent’s debt crisis, that and other negative news dashed hopes of an end to the turmoil endangering the euro _ the currency used by 17 European nations _ and threatening the entire global economy.

“Everyone is waiting to see what comes from the next conference of European nations. Hopefully something good,” said Jackson Wong of Tanrich Securities, in Hong Kong.

Benchmark oil for January delivery was down 21 cents at $93.32 a barrel in electronic trading on the New York Mercantile Exchange.

Source

December 9, 2011

New eurozone treaty agreed to without the U.K.

Filed under: Mortgage, technology — Tags: , , , — DoctorBusiness @ 10:16 am

BRUSSELS

December 6, 2011

Cuts to first-class mail to slow delivery in 2012

Filed under: Mortgage, management — Tags: , , , — DoctorBusiness @ 2:24 am

The cash-strapped U.S. Postal Service said Monday it is seeking to move quickly to close 252 mail processing centers and slow first-class delivery next spring, citing steadily declining mail volume.

The cuts are part of $3 billion in reductions aimed at helping the agency avert bankruptcy next year. It would virtually eliminate the chance for stamped letters to arrive the next day, a change in first-class delivery standards that have been in place since 1971.

The plant closures are expected to result in the elimination of roughly 28,000 jobs nationwide.

At a news briefing, postal vice president David Williams stressed the move was necessary to cut costs as more people turn to the Internet for email communications and bill payment. After reaching a peak of 98 million in 2006, first-class mail volume is now at 78 million. It is projected to drop by roughly half by 2020.

“Are we writing off first class mail? No,” Williams said. “Customers are making their choices, and what we are doing is responding to the current market conditions and placing the postal service on a path to allow us to respond to future changes.”

The cuts, now being finalized, would close 252 out of 461 mail processing centers across the country starting next April. Because the consolidations typically would lengthen the distance mail travels from post office to processing center, the agency also would lower delivery standards.

Currently, first-class mail is supposed to be delivered to homes and businesses within the continental U.S. in one day to three days. That will lengthen to two days to three days, meaning mailers no longer could expect next-day delivery in surrounding communities. Periodicals could take between two days and nine days.

Williams said in certain narrow situations first-class mail might be delivered the next day _ if, for example, newspapers, magazines or other bulk mailers are able to meet new tighter deadlines and drop off shipments directly at the processing centers that remain open.

But in the vast majority of cases, everyday users of first-class mail will see delays of one or two days, including those who pay bills by check, send birthday cards, write letters, or receive prescription drugs or Netflix DVDs by mail no faxing 1 hour payday loans.

After five years in the red, the post office faces imminent default this month on a $5.5 billion annual payment to the Treasury for retiree health benefits. It is projected to have a record loss of $14.1 billion next year. The Postal Service has said the agency must make cuts of $20 billion by 2015 to be profitable.

It already has announced a 1-cent increase in first-class mail to 45 cents beginning Jan. 22.

Separate bills that have passed House and Senate committees would give the Postal Service more authority and liquidity to stave off immediate bankruptcy. But prospects are somewhat dim for final congressional action on those bills anytime soon, especially if the measures are seen in an election year as promoting layoffs and cuts to neighborhood post offices.

On Monday, the Postal Service said it welcomed congressional changes that would give it more authority to reduce delivery to five days a week, raise stamp prices and reduce health care and other labor costs. But the Postal Service said it was opposed to provisions in both the House and Senate measures that would require additional layers of review before it could close post offices and processing centers.

“Speed is very important to the Postal Service in our ability to capture savings,” Williams said.

Maine Sen. Susan Collins, the top Republican on the Senate committee that oversees the post office, believes the agency is taking the wrong approach. She says service cuts will only push more consumers to online bill payment or private carriers such as UPS or FedEx, leading to lower revenue in the future.

__

Online: List of facilities to be closed: http://about.usps.com/news/electronic-press-kits/our-future-network/study-list-110915.pdf

Source

November 24, 2011

AT&T, Telekom to press ahead with T-Mobile deal

Filed under: Loans, online — Tags: , , , — DoctorBusiness @ 7:40 pm

Deutsche Telekom and AT&T vowed Thursday to press ahead with the planned sale of the German company’s T-Mobile USA unit to the U.S. cell phone operator despite concerns raised by American authorities.

Nevertheless, AT&T said it plans to take a pretax accounting charge of $4 billion in the current quarter to reflect the break-up fees that would be due to Deutsche Telekom if regulators block the deal.

The two companies said they had withdrawn applications to the Federal Communications Commission regarding the merger and intended to seek its approval again “as soon as practical.”

They took the step to consider “all options at the FCC and to focus their continuing efforts on obtaining antitrust clearance for the transaction from the Department of Justice,” which filed a lawsuit in August to stop the deal, AT&T said in a statement.

“Both companies are continuing to pursue the sale of T-Mobile USA to AT&T,” Deutsche Telekom stressed.

Both U.S. agencies worry that the deal would hamper competition and lead to higher prices for consumers.

Deutsche Telekom AG and AT&T Inc. made their move after the chairman of the FCC earlier this week came out against the merger.

Julius Genachowski made his position known in a document he circulated to fellow commissioners Tuesday.

He recommended sending AT&T’s proposed $39 billion takeover of T-Mobile to an administrative law judge for review and a hearing. That’s what the FCC does when it opposes a merger.

In a research note Thursday, Jefferies International analyst Ulrich Rathe said the withdrawal of the FCC application, as well as the opposition by the Justice Department, indicate that “the companies are already well into working out a new version of the deal.”

The analyst, who rates Deutsche Telekom “Buy,” said the charge confirms the break-up fee will be difficult for AT&T to avoid if the deal is not completed.

In Frankfurt, Deutsche Telekom shares closed down 0.6 percent Thursday at euro8.69 ($11.67), almost mirroring the 0.5 percent decline in the DAX index of blue-chip stocks.

The proposed deal, announced in March, would vault the combination of America’s No. 2 carrier AT&T and No. 4 T-Mobile into the top spot ahead of Verizon.

Dallas-based AT&T has about 101 million wireless subscribers. T-Mobile, the Bellevue, Washington-based subsidiary of Deutsche Telekom AG of Germany, has 34 million.

Verizon Wireless, a joint venture between Verizon Communications Inc. and Vodafone Group PLC, has about 108 million, while Sprint Nextel Corp. has 53 million.

Source

November 11, 2011

Merck: Promising drugs in late-stage testing

Filed under: Mortgage, Uncategorized — Tags: , , , — DoctorBusiness @ 6:24 pm

Merck & Co. said Thursday it has revamped its research operations to make them more productive, has started a new four-pronged business strategy to increase revenue and profit and has some exciting drugs on the horizon.

The drugmaker also boosted its quarterly dividend by 4 cents to 42 cents per share this quarter _ the first increase since 2004. That was just before Merck pulled painkiller Vioxx from the market because it increased heart attack and stroke risk. Merck’s shares rose sharply.

Merck’s pipeline of experimental drugs includes what could be several important new medicines for patients and shareholders, company executives told analysts during a daylong business briefing at Merck headquarters in Whitehouse Station, N.J. And Merck, the world’s No. 3 drugmaker by revenue, has eight new products for which it will seek U.S. approval in 2012 or 2013.

That’s just in the nick of time. Merck already has been hurt by competition from generic versions of blockbuster osteoporosis, blood pressure and cholesterol drugs, like its rivals. Next August, its current top seller, $5 billion-a-year allergy and asthma drug Singulair, gets hit by U.S. generic competition.

CEO Kenneth Frazier said the company hopes to keep 2012 revenue about the same as this year’s. In this year’s first nine months, it has increased sales by 5 percent, or nearly $2 billion, to about $35.8 billion.

Merck has gotten five new drugs approved this year, including breakthrough hepatitis C drug Victrelis and the first combination pill for people with both diabetes and high cholesterol, Juvisync. It also has applied to regulators for five more approvals. Those include a long-acting diabetes pill and a combination cholesterol drug.

Merck plans in 2012 and 2013 to seek U.S. approval for eight more medicines, including drugs for chronic insomnia, hardening of the arteries, osteoporosis and reversal of anesthesia, plus two allergy medicines and an improved version of its blockbuster cervical cancer vaccine Gardasil. Altogether, it has 19 medicines in late-stage testing.

Many of those came from Merck’s November 2009 acquisition of Schering-Plough Corp no fax pay day loan. Frazier said the integration has enabled the combined company to reduce costs by $2.8 billion. Merck has done that partly by eliminating 16,000 jobs out of the combined 106,000 the two companies had right before the deal.

Frazier outlined the company’s new business strategy, which includes growing medicine sales in emerging and other key markets, expanding its consumer and animal health businesses, launching new drugs and boosting sales of existing ones, and managing spending tightly.

Merck also has trimmed the number of diseases for which it does research, developed computer models and other ways to decide much earlier whether to scrap or continue testing of experimental drugs, and made other changes to address one of the industry’s biggest challenges _ getting more bang for the billions companies pour into trying to create new drugs.

“The new research strategy and operating model that we’ve been implementing over the past few years is now in place,” research head Peter Kim told about 130 analysts. “These changes position us for long-term growth with a sustainable return on investment.”

He said Merck has two experimental drugs that could transform patient care. One, called anacetrapib, is in final-stage testing for hardening of the arteries.

The other, known only as MK-8931, is in early testing for Alzheimer’s disease. Kim told reporters that while it’s still just a hypothesis that it will work, if it pans out “it’s going to have a dramatic impact on medicine.”

Merck also is developing more combination diabetes drugs, just five years after launching its first, Januvia, now the best-selling pill for Type 2 diabetes.

Merck shares rose $1.18, or 3.5 percent, to close at $34.97, outpacing the 1 percent gain in the Dow Jones industrial average.

Source

November 10, 2011

Armies’ pickups get military muscle in Thailand

Filed under: Loans, Mortgage — Tags: , , , — DoctorBusiness @ 5:24 am

The humble pickup truck has plowed through the desert sands of Libya in pursuit of Moammar Gadhafi’s forces and patrols the high passes of Afghanistan. Tough, multitasking and relatively cheap, it’s the choice of Latin American armies, al-Qaida terrorists, Somali warlords and even U.S. Special Forces trying to blend in with the locals.

Of course, most don’t just pick one off the lot and drive to the battlefield. They modify them in back-alley workshops to become lethal and more durable. Or they come here, to a busy, sprawling plant that turns out military-style modifications by the thousands.

Pairing sophisticated computer modeling with skilled workers, many from poor families in the surrounding countryside, the RMA Group has supplied 35,000 such road warriors, mostly Ford Rangers, to the Afghanistan police and army under a U.S. military contract, with more on their way.

Other apparently satisfied customers of the Thailand-based American company range from U.N. peacekeepers to private individuals seeking bullet-free rides. Singapore’s military recently bought 1,000 converted SUVs.

“We take a commercial vehicle off the shelf, the price of which is generally low, and then adapt that to exactly what the customer wants and needs. We focus on rough-tough, conflict and post-conflict markets,” says Ron Tyack, a group vice president. He recently took reporters through the factory, 150 kilometers (93 miles) southeast of the Thai capital Bangkok.

At one station stood a tested Ford Everest, seven of its windows shattered but not penetrated by 27 AK-47 bullets.

“There is no second chance to ‘get it right’ when it comes to shielding your vehicle from hostile fire,” notes an RMA brochure. Muscled up with steel, composite materials and ballistic glass, such pickups are meant to stop fire from handguns, rifles like the AK-47 and grenade shrapnel.

The converted Rangers for Afghan forces average $25,000 apiece compared to some $100,000 for a Humvee, the equivalent U.S. military workhorse, says Tyack, an Australian with more than 40 years of automotive experience. Spare parts for pickups generally are also cheaper and easier to obtain _ all reasons for their popularity among guerrillas, rebels and armies on a shoestring budget.

“The ANP (Afghan National Police) has conducted a lot of successful operations using Ford Ranger pickups in remote cities and districts. (They’re) strong, work very well in difficult terrain and on dirt roads,” says Mohammad Najib Nikzad, an Afghanistan government spokesman. But he said Toyota pickups were cheaper and their higher speed made it easier to pursue suspects in cities.

In Afghanistan and Iraq, U.S. Special Forces teams sometimes board unmarked pickups to avoid detection. U.N. peacekeepers in Kosovo, Haiti and elsewhere ride in pickups emblazoned with U.N. markings. RMA has a five-year contract with the world body to provide the vehicles.

On Libya’s front lines recently, field commander Abdel-Razak Najim told The Associated Press his revolutionary fighters preferred Toyota but added that the more robust Ford was “a big car and has good balance so we attach rocket launchers on them because they can handle the force.” Virtually all the battlefield pickups in Libya are locally modified.

The Toyota Hilux, designed for backwoods recreation and hauling goods to market, has been a special favorite of irregular forces since its introduction in the late 1960s. The defeat in 1987 of Gadhafi’s forces by the highly mobile troops of Chad was dubbed the “Toyota War.”

The RMA Group, which started modestly in 1985 and expects $770 million in revenue this year, also works on models from Toyota for the mining industry as well as Land Rover but has its strongest links with the Ford Mazda Motor Company, a joint venture of the two automakers that produces the Rangers just 30 kilometers (18 miles) away. Thailand has become a major Asian hub for foreign car manufacturing and export, turning out about 1.8 million a year. It’s also the world’s second-largest market for pickups, after the United States.

When the U.S. military sought bids for light tactical vehicles, Ford didn’t have a ready product that met the specifications and didn’t want to get into the modification business. RMA got a major boost when it stepped in, delivering the first one to Afghanistan in 2005.

Tyack says that detailed groundwork is done on customer requirements and the invariably punishing environments in which the vehicles will operate.

For Afghanistan, the dark green Rangers need heater blocks to withstand temperatures that can plunge to minus 30 degrees Centigrade (minus 22 degrees Fahrenheit), higher ground clearance given the rock-strewn roads and better suspension to take heavy loads (Tyack recalls seeing one carry a baby camel). Better filters are needed since fuel in Afghanistan is usually high in sulfur content. Standard tires are replaced by virtually puncture-proof, non-radial ones.

“You don’t want to be on patrol and suddenly find you have a flat tire,” he says. You also don’t want to be hit with a roadside bomb because most of the Rangers are not armored, given the high cost of such conversions.

The plant also can come up with more than 100 adaptations beside the battlefield versions.

A Land Rover Defender at the plant had been turned into a field ambulance. In 2008, on urgent request from the Vietnamese government, the plant configured vehicles for workers investigating the possible outbreak of Asian bird flu, providing separate driver and health worker compartments and isolated storage for hazardous specimens.

Elsewhere at the factory, pickups geared for working in mines, sometimes underground, were readied for shipment after being beefed up with extra protection against falling rocks and rollovers. Customers include gold mines in South Africa and the Freeport mine, one of the world’s largest, in Indonesia’s Papua province. With an ongoing separatist insurgency in the latter nation, some of the pickups destined for Freeport are armored.

Quality control testing is done on factory grounds, with the vehicles driven through a ford, under a shower, around a steeply sloped curve, over a patch of rock-strewn road and into a deep freezer.

One piece of equipment _ a machine gun _ doesn’t get bolted on until the truck reaches Afghanistan. The company is not in the weapons business.

Tyack says RMA, with 1,600 of its 4,000 employees in Afghanistan, sees itself as part of the transition from U.S. to Afghan security control, providing not only the hardware but servicing and training. Since up to 5,000 of its road warriors will need to be replaced every year, it may well be around after the last American troops have gone home.

Source

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