Good Day, Bad Day

GOOD DAY FOR: The next small thing, after Indian automaker Bajaj, France’s Renault, and Japan’s Nissan announced plans to jointly make a small car, starting at $2,500, for the Indian market. The car, code-named ULC, will go head to head with Tata Motors’ $2,500 Nano model. “Bajaj is getting into this because there is a huge market opportunity here,” said analyst Ashutosh Goel at Edelweiss Capital. (Bloomberg)

BAD DAY FOR: Liquid assets, after the storied Credit Municipal of Paris, the city-owned pawnshop dating back to 1777, started accepting bottles of wine. The Credit Municipal, commonly known as “auntie,” accepts objects worth between about $93 and $3 million. (Los Angeles Times, free registration)