Actually the demise was the recession, the desire for people to drive 4 bangers (this one I do not get, other than cost of gas) and the sale of the Jaguar and Land Rover line from which the AJ30 and AJ35 came from. It is a shame, ford should have used their own ford family of motors. I do not think they foresaw having to sell off the other two brands.
The (continuing) recession had NOTHING to do with the demise of the LS. It is quite complicated and dealers, advertising and lack of European sales are part of it. The LS was dead in 2004.