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LVMH + Aston Martin

German publication Autobild has reported that the new owner of Aston Martin is billionaire Bernard Arnault - CEO of Louis Vuitton Moët Hennessy S.A.

Ford placed Aston Martin on the auction block last year in hopes of raising $2 billion of much needed revenue. No figures of the sale have been released yet, but it is believed to have only brought $1.2 bil. Financial analysts say that this is merely a "drop in the bucket" compared to Fords massive debt.

On another note, a 2004 report claims that counterfeiting of LV merchandise is so rampant, that less than 2% of all items sold as Louis Vuitton are genuine. I guess we will be picking up our knockoff LV-AM on ebay soon.

http://i9.tinypic.com/47ilfkm.jpg

What a sad day for AM....

Ford is reported to have retained a 15% share. Guess they are trying to continue to lose money even after selling it off.