Not so fascinating year for TATAs

It's been a rough year for Ratan Tata and the TATAs.

2008 started off in a grand way, with the acquisition of the iconic British marquees Jaguar and Land Rover (JLR) and the launch of most awaited NANO...

• JLR deal gave the Tata group the necessary global credentials.
• Things started skidding off-course when the Nano project had to be pulled out of Singur, West Bengal.
• Soon the global financial meltdown set in, hurting several group businesses
• The devastation of the Taj Mahal Palace and Tower, the jewel in the Tatas' hospitality crown.
  
• TATAs are facing one of the toughest years in its entire existence of over a century.
  
• Ratan Tata's grave facial expression in his recent public appearances--be it during his visit to the devastated facade of the Taj or at the height of the Nano conflagration in Singur--reflected the challenges he faces.
  
  The global meltdown has hit group businesses. The Tatas are finding it tough to access credit and equity, thanks to the tight liquidity conditions, a depressed stock market and erosion of investor confidence.
  
  But, experts say Ratan Tata is used to adversity. His ascendancy to the chairmanship of the group was marked by bitter battles between him and some well-entrenched senior CEOs in the group eager on protecting their own turf.
  
  Overcoming the initial resistance, he then transformed the group into one meaningful conglomerate. This exercise acquired urgency following colossal losses incurred by Tata Motors in 2000-01. No sooner was this sorted out, Ratan Tata was hit with another crisis, this time from Tata Finance.
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