There are more than a million words in the English language and yet, when it came to naming Volkswagen's corrugated car-cum-caravan, only one sufficed: the Thing.
It is an odd name for a very odd vehicle. Like a laughably unmenacing villain of a preposterous 1970s B-movie, it is so improbable and weird that specific description is futile. It was, is and will forever remain a Thing. If its looks are baffling, then its purpose is bemusing. At first glance, it looks like an air raid shelter that should be half submerged in a garden. On second glance, you notice the wheels and assume it is coin operated and has escaped from a theme park. Surely no other car with a soldierly purpose is so silly.
During the Second World War, Volkswagen was required to serve the national good by designing a durable, go-anywhere vehicle as the German equivalent to the Jeep. The result was the Kubelwagen, an austere, angular runaround based on Beetle running gear. While they didn't enter national folklore in the same way as their American counterpart, the Kubelwagen's wartime service wasn't to be forgotten.
In the late 1950s, with Cold War tensions reaching boiling point, several European governments joined forces to design a rugged, lightweight, amphibious and all-terrain vehicle to be known as the Europa Jeep. But despite its four-wheel drive, the concept became bogged down in bureaucracy; Germany lost patience and looked to develop a successor to its "bucket car".
The Europa Jeep proved to be a Nato pipe dream and Volkswagen stepped into the breach. In 1968, it sent the first type 181, as the Thing (or Trekker in the UK) was known in its serious, service guise, into military service and, over the next 11 years, more than 50,000 were used by Nato forces. Though it was superseded by the more modern and more mobile Iltis at the turn of the 1980s, the 181's reliability and low maintenance costs kept Nato and other customers calling until 1983.
But it quickly became apparent that the Kurierwagen, as it later became known, could fill a niche in the market for a quirky custom consumer vehicle. The target market for this was the United States, where the emerging surfer culture had led to popularity of dune buggies and offbeat off-roaders. The plan was simple: keep costs low and sell for a high price with a novelty tag. Without coming over all philosophical, the slogan came down to this: "The Thing is". Like its predecessor, the mechanics were lifted from the Beetle, giving it a flat four, rear-mounted engine, and the floor plan was borrowed from the marque's stylish coupe, the Karmann Ghia.
The civilian Thing came onto the market in 1971 in Europe, Britain, the US and Mexico. Its combination of being both peculiar and peculiarly German saw it flop in Britain but, as anticipated, it was warmly received in North America. Despite its popularity and almost instant cult status, the Thing had to be dropped in 1975 as it failed strict new safety standards, which is a little ironic given it was designed to protect troops in war.
The ultimate Thing was designed for Las Bristas hotel in Acapulco to ferry guests around in style. Well, not style. And if we are honest, not really comfort either.
The Acapulco Thing featured running boards and blink-inducing orange-and-white stripes. In total, more than 90,000 Things were made, 20,000 of which were built in Mexico for the domestic and US market.
Unsurprisingly, the Thing has become a motoring oddity and therefore highly collectable. Few cars can turn heads like the Thing, but while pedestrians craning their necks to see a 911 say "wow", those who spy a 181 are more likely to ask "what?". Being rare and ridiculous, its value can only increase.
Fun features such as removable windows and a fold-down windscreen have become almost chic now. Recently, a former fire brigade 181 sold for $35,000 (Dh128,500). And they say Germans don't have a sense of humour.
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
Mia Man’s tips for fermentation
- Start with a simple recipe such as yogurt or sauerkraut
- Keep your hands and kitchen tools clean. Sanitize knives, cutting boards, tongs and storage jars with boiling water before you start.
- Mold is bad: the colour pink is a sign of mold. If yogurt turns pink as it ferments, you need to discard it and start again. For kraut, if you remove the top leaves and see any sign of mold, you should discard the batch.
- Always use clean, closed, airtight lids and containers such as mason jars when fermenting yogurt and kraut. Keep the lid closed to prevent insects and contaminants from getting in.
MATCH INFO
Uefa Champions League semi-final:
First leg: Liverpool 5 Roma 2
Second leg: Wednesday, May 2, Stadio Olimpico, Rome
TV: BeIN Sports, 10.45pm (UAE)
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
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UAE currency: the story behind the money in your pockets
Museum of the Future in numbers
- 78 metres is the height of the museum
- 30,000 square metres is its total area
- 17,000 square metres is the length of the stainless steel facade
- 14 kilometres is the length of LED lights used on the facade
- 1,024 individual pieces make up the exterior
- 7 floors in all, with one for administrative offices
- 2,400 diagonally intersecting steel members frame the torus shape
- 100 species of trees and plants dot the gardens
- Dh145 is the price of a ticket
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
THURSDAY'S ORDER OF PLAY
Centre Court
Starting at 10am:
Lucrezia Stefanini v Elena Rybakina (6)
Aryna Sabalenka (4) v Polona Hercog
Sofia Kenin (1) v Zhaoxuan Yan
Kristina Mladenovic v Garbine Muguruza (5)
Sorana Cirstea v Karolina Pliskova (3)
Jessica Pegula v Elina Svitolina (2)
Court 1
Starting at 10am:
Sara Sorribes Tormo v Nadia Podoroska
Marketa Vondrousova v Su-Wei Hsieh
Elise Mertens (7) v Alize Cornet
Tamara Zidansek v Jennifer Brady (11)
Heather Watson v Jodie Burrage
Vera Zvonareva v Amandine Hesse
Court 2
Starting at 10am:
Arantxa Rus v Xiyu Wang
Maria Kostyuk v Lucie Hradecka
Karolina Muchova v Danka Kovinic
Cori Gauff v Ulrikke Eikeri
Mona Barthel v Anastasia Gasanova
Court 3
Starting at 10am:
Kateryna Bondarenko v Yafan Wang
Aliaksandra Sasnovich v Anna Bondar
Bianca Turati v Yaroslava Shvedova
The specs
Engine: 3-litre twin-turbo V6
Power: 400hp
Torque: 475Nm
Transmission: 9-speed automatic
Price: From Dh215,900
On sale: Now
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
A State of Passion
Directors: Carol Mansour and Muna Khalidi
Stars: Dr Ghassan Abu-Sittah
Rating: 4/5
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
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