On Apr 24, 2008, at 9:25 AM, Paul Hunt wrote:
> The Phoenix Four ('guys in England') didn't get any Government
> money, they got a dowry and lots of assets from BMW. They survived
> as long as they did by selling assets and leasing back some of them,
> but eventually ran out of money. Government money was used to
> support the many thousands laid off from MG Rover and their
> suppliers. There is currently a Government enquiry into how much
> money they took for themselves in salary, pension rights etc. but
> there is still no sign of a report being published or even an
> expected date for it.
That's right, I remember that now.
> In some places it is described as a merger of NAC and SAIC,
> encouraged by the Chinese government, in others NAC was sold to SAIC
> by receivers, which implies they went bust.
> Ford acquired the rights to the Rover name from BMW to prevent any
> conflict with their ownership of Land Rover, now sold to TaTa
> (kiddie speak for 'good-bye') with Jaguar. BMW own other ex-BL
> marques like Mini, Triumph and Riley.
> NAC/SAIC still say they intend to re-introduce the TF assembled at
> Longbridge in Birmingham, but dates continue to slip. they have
> built around 30 prototypes but say there are quality problems. The
> UK company that were supposed to be doing body welding have
> apparently pulled out of the deal, saying the volumes aren't enough
> to warrant the investment.
Oh, I thought of one other event. The guys that bought the SV, are
selling it now. Some even coming to the US.
How is it that that can be an MG too?
> ----- Original Message -----
>> Can anyone clear up what happened here? As I understand it:
>> 1. BMW sold MG/Rover to guys in England.
>> 2. They failed, after taking a lot of government money
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