UK Government To Guarantee $2 Billion Jaguar Land Rover Loan After Cyber Shutdown (bbc.com)
- Reference: 0179592014
- News link: https://news.slashdot.org/story/25/09/29/1945254/uk-government-to-guarantee-2-billion-jaguar-land-rover-loan-after-cyber-shutdown
- Source link: https://www.bbc.com/news/articles/cgl15ykerlro
> Business Secretary Peter Kyle said the loan, from a commercial bank, would protect jobs in the West Midlands, Merseyside and across the UK. The manufacturer has been forced to suspend production for weeks after being targeted by hackers at the end of August. There have been growing concerns some suppliers, mostly small businesses, could go bust due to the prolonged shutdown.
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> About 30,000 people are directly employed at the company's UK plants with about 100,000 working for firms in the supply chain. Some of these firms supply parts exclusively to JLR, while others sell components to other carmakers as well. It is believed to be the first time that a company has received government help as a result of a cyber-attack.
[1] https://www.bbc.com/news/articles/cgl15ykerlro
Insurance case? (Score:3)
I am sure a company like Jaguar has cybersecurity insurance. This service comes in many variations - it can cover direct costs of handling the incident (eg extra hours logged by your employees), third party costs (eg additional anti-ddos services purchased to mitigate the attack), post-incident cleanup costs, ransomware payments...
Would Jaguar file an insurance claim? Based on which policy? Would they get a payout? For what?
Would be insightful to learn about this, after the dust has settled.
The cynic in me thinks this is a setup. (Score:2)
For years, even before Tata bought Jaguar, Jag's been in death spiral. Each new car less enticing than the former.
The F-Type could've been such a great thing but they saddled it with with everything except what a Jag of that lineage needs: A twincam straight six, to go back to their XK roots. (XK the engine, not the car). There was an anemic four, an overpowered eight, and a tapioca v-6. No straight-six.
Then, they announced they were going to stop building all cars, and come back with.. something. When
Re: (Score:2)
Or a poorly run company was failing in all areas and their security was held to the same standard as their car design, leading to the inevitable.
For a car maker that has essentially... (Score:1)
Shuttered the majority of their manufacturing operations on the "Jaguar" side for going on year two, this is the most irresponsible loan I have ever seen issued. Lets give 2 billion dollars to that Car Maker who put out a commercial, WITHOUT A CAR IN IT! ;-D FFS. It takes WORK to be THAT Stupid.
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That commercial was brilliant. It got all the people who wouldn't buy their cars in the first place to talk about it.
My response to the commercial: Ok?
Then I went on with my life and forgot about it.
Goodbye Jaguar, Hello Kitty (Score:2)
> That commercial was brilliant. It got all the people who wouldn't buy their cars in the first place to talk about it.
Yes, the only way it could have been better is if it had managed to get the people who would be likely to buy their cars to talk about it in a good way. As far as I can tell "Jaguar" seems to be in the middle of a major rebranding to become the "Hello Kitty" of luxury sports cars and it's going about as well as you'd expect it to.
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Keeping domestic manufacturing alive and well is important for national security. Consider how World War Part Two would have played out if the USA could not produce as many trucks, airplanes, ships, and so much else in the time leading up to the war and to the very end.
Keeping JLR in business is important to keep factories open and people trained in skills needed should this Cold War Part Two we are in warm up. This would go double for factories already set to build off-road trucks, they'd be quite vital