8 replies to this topic

[mab01uk]

On BBC News today:-
http://news.bbc.co.u...ess/8134981.stm

The Serious Fraud Office is to investigate the circumstances surrounding the demise of Birmingham-based car maker MG Rover in 2005.
A quartet of executives known as the Phoenix Four had taken control of the company in May 2000 after originally buying MG Rover for a nominal £10. The business came with an interest-free loan of £427m from BMW, the previous owner.
"John Towers, Nick Stephenson, Peter Beale and John Edwards are estimated to have taken out more than £40m in pay and pensions in the years before the business went down."

[MiniBonkerz]

Our goverment sucks always has hence they closed end of

[mab01uk]

Report on this in the Birmingham Post:-

MG Rover directors claim Brown vetoed £120m loan
http://www.birmingha...65233-24100360/

[mab01uk]

Rover bosses took £42m from firm

The long-awaited report into the 2005 collapse of the company is due to be released later today.
The independent probe has taken more than four years to complete and has cost the taxpayer about £16m.
http://news.bbc.co.u...ess/8248923.stm

Edited by mab01uk, 11 September 2009 - 07:41 AM.

[Ethel]

Good comment on the radio. Apparently Rover were going to go bust anyway so it doesn't matter the execs were stuffing their pockets - I wonder if the old directors did the investigation too?

[mab01uk]

Details and comment on the Report into MG Rover is now out.....................

http://news.bbc.co.u...ess/8250051.stm

http://www.bbc.co.uk...four_do_it.html

[LOWRIDERHORNET]

Thats why rover was up the sh**ter

[taffy1967]

Or you could buy the actual report as it's only 80 quid: -

Click Me

[Rosslin Racing]

Or you could buy the actual report as it's only 80 quid: -

Click Me

stone me i must rush out and get that