How does it Feel in HELL , LML ? ENJOYING ?[ Excerpts from the WHITEHOUSE]

Promoting Jobs and Growth Through Innovation
From: whitehouse | April 02, 2010 | 5,914 views
President Obama visits battery technology company Celgard in Charlotte, NC to talk about how the Recovery Act is helping to create jobs and economic growth by investing in innovative technologies.
I WAS ONLY 12 IN 1976.

Gerald Ford's infamous gaffe in the 1976 presidential debate.

http://en.wikipedia.org/wiki/Lohia_Machinery_Limited
LML (formerly Lohia Machines Ltd) is an Indian motorcycle manufacturer , founded in 1976.
[edit]History and overview

Incorporated as Lohia Machines Private Limited in 1978, the company was engaged in manufacture of synthetic yarn manufacturing machines in technical collaboration with ARCT, France. In 1978, it became a public limited company and diversified into processing synthetic yarn.
In 1984 a technical collaboration agreement was signed with Piaggio of Italy and a scooter project was set up. In 1986, the LML NV was launched. The relationship with Piaggio was redefined to that of a partner in 1990, both partners having equal equity participation of 23.6% each. The LML Select was launched in 1993, with new age technology and aesthetics, and became an instant success. LML's joint venture with Piaggio ended in 1999. LML continued to manufacture the Star, a classically styled steel-bodied scooter with twist-shift 4-speed manual transmission and a 150cc two-stroke engine. Some of these were distributed in the United States as the Stella and in the UK as AKII's Aura LML & A.K. International (I&E) Ltd was appointed the sole distributor for U.K. In 2008, Star deluxe was re-introduced to the U.K. market by A.K. International (I&E) Ltd, with the Via Toscana as the euro 3 compliant model.
Again in 1999, an agreement was signed with Daelim Motor Company of South Korea to manufacture 4-stroke motorcycles. In 2000 the company was recognized by the Indian Ministry of Science and Technology for remarkable success in introducing new models/upgrades of scooters in the market with more fuel-efficient engines, new electrical systems, latest emission norms, upgraded technology, better styling etc., and that year entered the motorcycle market with upper end lifestyle bikes in 100 cc, using 3-valve technology.
Owing to excesses and over-spending the company has been under financial constraints ever since its foray into bi-wheeler manufacturing,with dividend being declared only twice to its shareholders in spite of contemporary bi-wheeler manufacturers like TVS, Hero Honda AND Bajaj Auto not only growing multi folds but also enhancing shareholder's worth. Even new entrants into the scooter market like Honda Motorcycle & Scooter have achieved volumes of 50,000 units per month, which LML could never achieve with its full range of scooters and motorcycles.
The bankruptcy has dealt a severe blow to SSI units in Kanpur,who were engaged in feeding critical and propriety items to LML since early 80's, with many closing down or facing huge financial burden on themselves. The workmen and staff of LML and vendor SSI Units, who have been out of work since Feb 2006 are also finding it extremely difficult to make both ends meet and to even feed their dependents.

Category:

News & Politics

Tags:

• How does it Feel in HELL