andsome Posted April 11, 2005 Report Share Posted April 11, 2005 For heavens sake, don't feel any sympathy for that idiot. Let him grin his way out of it. Quote Link to comment Share on other sites More sharing options...
Tankus Posted April 15, 2005 Author Report Share Posted April 15, 2005 The GuardianUp to 5,300 MG Rover workers are to lose their jobs after the Shanghai Automotive Industry Corporation (SAIC) today confirmed it would not hold any further talks with the car-maker.MG Rover's administrators, PricewaterhouseCoopers (PwC), confirmed job losses of "around 5,000", saying steps would be taken today and over the weekend to "effect the redundancies".Thats it then Quote Link to comment Share on other sites More sharing options...
andsome Posted April 15, 2005 Report Share Posted April 15, 2005 I could not really see the Chinese so called deal amounting to much. The company does NOT have a product as such, they merely assemble cars for other company's, including Volkswagen. There would seem little point in someone else building Rovers, when those that have been made at Longbridge have not been selling. The fact remains that Rover have done little or nothing to put right faults that have been complained of over and over. Quote Link to comment Share on other sites More sharing options...
Hurdy Posted April 15, 2005 Report Share Posted April 15, 2005 An exercise in asset stripping on the horizon?A different type of chinese takeaway.... Quote Link to comment Share on other sites More sharing options...
Tankus Posted April 15, 2005 Author Report Share Posted April 15, 2005 11,000 cars missing and BMW's dowry not matching up to expenditure .........4 people seem happy enough ....I wonder how the marginals will swing in 3 weeks Quote Link to comment Share on other sites More sharing options...
Tankus Posted April 15, 2005 Author Report Share Posted April 15, 2005 I'l have a 75 , with a 45 with extra onions on the side anna bag o chips to go ...awright mate ...! Quote Link to comment Share on other sites More sharing options...
andsome Posted April 15, 2005 Report Share Posted April 15, 2005 I'l have a 75 , with a 45 with extra onions on the side anna bag o chips to go ...awright mate ...!Salt and vinegar sir? Quote Link to comment Share on other sites More sharing options...
djohn Posted April 15, 2005 Report Share Posted April 15, 2005 I did hear on the evening news, the four Directors concerned are placing their pension fund assets at the disposal of the Mayor of the town to set up a fund to help the workers with immediate payments to be made available as required.Sounds quite a decent thing to do if I have understood it correctly. :unsure: Quote Link to comment Share on other sites More sharing options...
Tankus Posted April 15, 2005 Author Report Share Posted April 15, 2005 it does ..... Probably not their only funds , there are some "ring fenced " companies as well , but it may go some way to reduce the amount of hatred that seems to be directed towards them from the workers judging from some of the interviews tonight .....GM Detroit's in trouble too in the US ...big losses there too .... Quote Link to comment Share on other sites More sharing options...
trackrat Posted April 15, 2005 Report Share Posted April 15, 2005 As an ex worker who transfered from Rover to Land Rover eight years ago because I could see the company would not last much longer ( I thought it had about five years left in it, but it managed eight ).The rot set in when it was sold to British Aerospace as they put no investment into the company and sold it to BMW who only brought it for the Land Rover four wheel drive technology, they financed the Rover 75 and modernized Cowley (no investment for Longbridge) then when they had got what they wanted they kept the Mini and sold Land Rover to Ford for a healthy profit and ditched Rover.It is this lack of investment at Longbridce that was its final downfall.No new models allied to falling sales and four directors who feathered there own nests.As I said the rot set in about nine years ago with British Aerospace and so another great British name goes to oblivion. Quote Link to comment Share on other sites More sharing options...
Tankus Posted April 17, 2005 Author Report Share Posted April 17, 2005 The IndependentThe DTI is particularly keen for Sir Brian to investigate the movement of money between MG Rover and Techtronic (2000), a company owned by Phoenix Venture Holdings that is the immediate parent company to MG Rover.In 2000, Techtronic received a £427m interest free-loan from the car maker's former owner, BMW, which is repayable in 2049. The loan was subsequently repackaged by Phoenix directors and lent to MG Rover at commercial rates of interest. In 2003, £14m in interest from the loan was paid into Phoenix Venture Holdings.Tony Lomas, one of the PwC administrators, said that Techtronic was MG Rover's largest creditor. In effect, this means the Phoenix four are MG Rover's largest creditors. As a result, a significant proportion of the money recovered from any sale of assets belonging to MG Rover would have to be paid to Techtronic.Mr Lomas confirmed that provided Techtronic remained solvent - and he stressed this was likely - it would not have to pay the loan back to BMW until 2049.MG Rover creditors cannot make claims against assets held by the Phoenix four Quote Link to comment Share on other sites More sharing options...
andsome Posted April 17, 2005 Report Share Posted April 17, 2005 I can smell it from here Quote Link to comment Share on other sites More sharing options...
Tankus Posted April 25, 2005 Author Report Share Posted April 25, 2005 a showroom in Stratford-upon-Avon, Warks, owned by MG Rover director John Edwards, is selling nearly new cars at virtually half price. One example was a 75 1.8T Connoisseur with 50 miles on the clock for a mere £11,995 - reduced from £22,490.AutoexpressNot to sure what the resale value would be though .... Quote Link to comment Share on other sites More sharing options...
andsome Posted April 26, 2005 Report Share Posted April 26, 2005 [Not to sure what the resale value would be though ....£4.67 Quote Link to comment Share on other sites More sharing options...
Tankus Posted June 7, 2005 Author Report Share Posted June 7, 2005 Puts into perspective just how sick the auto industry is BBCGM plans to cut 25,000 jobs in US GM is losing ground in the home market General Motors is planning to cut 25,000 jobs in the US as it tries to recover from poor performance there Quote Link to comment Share on other sites More sharing options...
deuces wild Posted June 8, 2005 Report Share Posted June 8, 2005 GM and the UAW are now reaping what they sowed.UAW contracts with janitors making a starting salary of over $56,000/year plus free healthcare, dental and other benefits. With some seniority you could have a broom pusher making close to $70,000/year plus benefits.http://www.uaw.org/contracts/03/dch/dch02.cfmGM is paying out over $5 billion a year in healthcare costs to the workers.http://www.thecarconnection.com/Industry/I...S175.A7749.htmlGM executives making outrageous salaries and taking huge bonuses while producing mediocre quality cars.The house of cards is tumbling down. Ford and Chrysler are next. China is beneficiary. Quote Link to comment Share on other sites More sharing options...
andsome Posted June 8, 2005 Report Share Posted June 8, 2005 Makes my last salary look like peanuts Quote Link to comment Share on other sites More sharing options...
catgate Posted June 8, 2005 Report Share Posted June 8, 2005 The house of cards is tumbling down. Ford and Chrysler are next. China is beneficiary.Don't you worry about it. Uncle George will "globalise" it better. Just like our loonies did for our motorcar industry and the miners.Makes my last salary look like peanutsWell, you said you liked a bit of monkey business! Quote Link to comment Share on other sites More sharing options...
Tankus Posted June 8, 2005 Author Report Share Posted June 8, 2005 janitors making a starting salary of over $56,000/year plus free healthcare, dental and other benefits. With some seniority you could have a broom pusher making close to $70,000/year plus benefits.blimey Quote Link to comment Share on other sites More sharing options...
Tankus Posted February 22, 2006 Author Report Share Posted February 22, 2006 heh ............. ah so....!Car production is set to restart at Longbridge after China's Nanjing Automobile signed a 33-year lease on the former MG Rover plant todayThe Guardiangood news ... I hope Quote Link to comment Share on other sites More sharing options...
andsome Posted February 22, 2006 Report Share Posted February 22, 2006 heh ............. ah so....!Car production is set to restart at Longbridge after China's Nanjing Automobile signed a 33-year lease on the former MG Rover plant todayThe Guardiangood news ... I hopeI think we should wait and see. Quote Link to comment Share on other sites More sharing options...
Tankus Posted February 22, 2006 Author Report Share Posted February 22, 2006 well ...it has to be better than what's happened to the industrial parks in west wales ...they literally get turned into parksThis was the stamping and enamel mills ....loading docks ...and a huge shunting yard... on the Llanelli coast My father worked there .... Its now called the millennium coastal park ...... you cannot build houses on it due to heavy-metal leechate .... I guess its better to look at .... but pushing Llanelli on the tourist map is going to be hard ... when its next to Pembray national coastal park ..and you can see the back side of the gower peninsular in the distance ..theres not much sand there as its mostly estuarine mud from the River Loughour ....Du pont had a big fairly modern electric arc furnace there too at Strady ....leveled investment with lottery and Eu money there is talk of a wind Farm Quote Link to comment Share on other sites More sharing options...
Tankus Posted February 22, 2006 Author Report Share Posted February 22, 2006 bit of a Welsh theme parkEisteddfod(not my piccies)But then at least they have the culture to flog ......although I find it a bit demeaning ...what has solihull got to offer ...? best of luck to them Quote Link to comment Share on other sites More sharing options...
AlanHo Posted February 22, 2006 Report Share Posted February 22, 2006 what has solihull got to offer ...?ME Quote Link to comment Share on other sites More sharing options...
Tankus Posted February 22, 2006 Author Report Share Posted February 22, 2006 then they are saved Quote Link to comment Share on other sites More sharing options...
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