Either way, Ford's recently excommunicated boss Jacques Nasser is probably giving a smirk while watching Henry Ford's grandson Bill Ford - newly appointed CEO - knee deep in the mess left to him after Nasser's 3 year tenure. The Aussie's legacy concludes with mounting losses, declining quality, boggled product launches, debatable investments and strained relationships with employees, dealers, suppliers and customers - ouch!

While some might spell this as the definitive demise of Mr. Nasser's career in the automotive industry, strange, if not stranger things have happened recently to give even Jacques hope. Bernd Pischetsrieder, the once glorified (for stealing Rover Group from under the nose of Honda) then humiliated (for leading BMW into their biggest losses ever, due to Rover Group) ex BMW CEO was acquired last autumn by automotive guru Ferdinand Piech to replace himself as head of Volkswagen AG. Five months before the officially coronation, Pischetsrieder had already staked his territory, firing two top executives and demoting a third. He recently reorganized VW's brands into two divisions as well, with VW, Skoda (Czech), Bentley and Bugatti making up the 'classic' unit and Audi, Seat (Spain) and Lamborghini comprising the 'sporty' division.

On the far side of the opposite pond, after over a decade of success with Lexus, Toyota is preparing to launch yet another brand. This one, however, is targeted at the lower end of the earnings demographic. While current Toyota's are proving popular with an aging generation, garnering over 11% U.S. market share, they aren't catching on with younger buyers. Is it all in the name? Oldsmobile (R.I.P.) might philosophically agree, and Saturn might be a good case in point - a fresh name and some slick marketing can go a long way in attracting younger buyers. Unlike Lexus, the Scion brand will not get its own showrooms, but will be sold via the internet and delivered at Toyota outlets. There is no official word yet if the brand will be offered in Canada.

While Hyundai is sizzling and Kia is hot on it's heals, Daewoo has been struggling to keep its collective head above 'red' water. After a year of stop-start negotiations the worlds No.1 automaker came to the rescue last September, signing a nonbinding agreement to acquire bankrupt Daewoo Motor Co for $400 million in cash. While South Korean critics considered it a "giveaway" the South Korean government didn't have a lot of callers, as all other potential purchasers had pulled up shop and gone home.