Last year, our esteemed Ed in Chief Niedermeyer did intensive research into what was left of then Libyan ruler Muammar Gaddafi’s share holdings in Fiat. Fiat denied that the Colonel had any financial interest in Fiat, but he did. The holdings were seized by the Italian government. (Read More…)
Now we know the truth behind the rebels routing Kadafi in Libya. “British, French, Qatari and other special forces working inside Libya?” Bollocks! It was the skilled deployment of fine Chinese weaponry that turned the tide. Chinese guns made the Colonel collect the last cadres of his female bodyguards and head for wherever people head to for a last get-together with their bodyguards before their bollocks are removed in a less than surgical manner. (I am getting sidetracked. Where were we?) Ah, yes, Chinese weaponry!
Tycho over at Carnewschina found the picture above in Huanqiu.com, a Chinese site dedicated to the military side of China, and, to provide proper balance, to barely dressed members of the fairer sex. If you are into uncamouflaged Chinese guns & girls, this site’s for you! (Someone is trying to undermine my morals, and my writing focus.) (Read More…)
Back in 1976, the Italian automaker Fiat had been badly battered by a global energy crisis and the resulting malaise infecting the global auto industry. In what Time Magazine described at the time as “a devastatingly ironic example of petropower,” Col. Muammar Gaddafi instructed his Libyan Arab Foreign Bank to invest some $415m into the Italian automaker, giving it a stake that would eventually grow to some 14 percent of the firm’s equity.
By 1986, Fiat’s Libyan stakeholders were becoming more trouble than they were worth. In the wake of the Lockerbie bombings, the US introduced sanctions on Libya, and Fiat’s Libyan connection left its attempts to bid for US military contracts (particularly those related to Ronald Reagan’s Strategic Defense Initiative) dead on arrival. As a result, Fiat and its shareholders bought back the entire 14 percent Libyan stake in the firm, presenting the Libyan Arab Foreign Bank-controlled Banca UBAE with a $3.1b check. And, according to what a Fiat spokesperson told us yesterday, that is where the story ends. But thanks to the now-ubiquitous Wikileaks, we have found that this story may in fact go farther than that. In fact, as the evidence stands right now, either the US State Department is working with bad information (which major news sources have yet to correct), or Fiat is lying about its ties to the embattled Gaddafi regime.
After having covered Argentina, if you thought I would lazily go down the alphabet to finish on Zimbabwe you were WRONG! I like surprises, as I’m sure you do too, so given Libya is at the center of world news at the moment, why not have a look at the cars that sell best in that country – as long as it’s still there. (Read More…)