This gentlemen is taken directly from a UK chat
site.....................AMEN.
Regards.
David.
----- Original Message -----
From: "Michael Kilpatrick" <michael@mtkilpatrick.SPAMWITHEGGSfsnet.co.uk>
Newsgroups: uk.rec.cars.classic
Sent: Friday, April 15, 2005 10:52 PM
Subject: More thoughts about MG-Rover
The more I try and understand the details of the failed SAIC deals and
the collapse of MG-Rover, the more I get confused. Does anybody here
know in more detail exactly what properties/rights SAIC have already
obtained?
It has been said that SAIC had already bought the rights to produce the
25 and 75 and the K-series engine. I've read in the news that SAIC have
already terminated the royalty agreement with Powertrain to produce the
K-series. Unfortunately I couldn't find any more information. Does this
mean that MG-Rover (if they had survived) no longer actually have any
right to produce the 25, 75 and K-series?
If that's the case, does that mean the Phoenix Four effectively sold
many of the intellectual properties of the MG-Rover group *before*
securing any deal for SAIC to take over the entire group?
If that's the case, doesn't it mean that either:
a) Phoenix were utterly incompetent, leaving the company with absolutely
no bargaining position whatsoever after selling the rights to the
aforementioned products? Why the hell should SAIC want anything to do
with the company after paying #67m for the product rights they wanted?
b) Phoenix knew exactly what they were doing: getting some money for
something they knew SAIC wanted, knowing that MG-Rover was near to
collapse, and that the best option for themselves was to let Rover go
bankrupt with very few assets left, thus forcing it into administration
leaving Phoenix with no liabilities?
Michael
|