--- ksmith40@centurytel.net wrote:
> Not really related to our classic MG's, but this BBC article is
> interesting.
>
> http://news.bbc.co.uk/2/hi/business/4420507.stm
>
> It really sounds to me like some rotten management (nothing we're not
> already used to see connected to the letters MG).
>
> I thought FoMoCo owned these guys? With the wild popularity of the
> "new" Mustang, why are they not getting MG Rover to cash in on the
> retromobile movement and re-release the MGB, or Midget to the U.S.
> market?
No, they were sold by BMW to a group called Phoenix Holdings, a group of 4
guys, for like 1 pound or something crazy...
They're in deep doo-doo in that their lineup is very old (I think the
newest model was introduced in 1998?) and they will need to keep
themselves afloat for a couple of years while they develop a new platform.
That is kind of the sticking point between them and SIAC - the latter
doesn't want them to go under and leave them holding the bag for the loan
from the British gov't.... It's, as usual, a messy picture for MG/Rover.
I wish Ford HAD bought them, they've put a LOT of money into Jaguar, Aston
Martin and Land Rover and (except for Jaguar right now) it seems to be
paying off....
Dan
The Garden State
'76 MGB Tourer - Driver - It's getting better all the time....
'65 MGB Tourer Project - Yep, still is....
'04 Audi A4 1.8T q MT-6 - quattro, baby!
NAMGBR #5-2328
http://mywebpages.comcast.net/dibiase/Working_MG_Gallery.html
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