Unless Towers has got some killer management or production method up his
sleeve the numbers just don't add up. He is only going to lay off 1000
workers (out of 9500), is to make less cars but expects to be in profit in
two years. BMW claimed Rover was losing UKP2M per *day* yet Phoenix only
has UKP700M in loan funding - that's about one years worth. The recent
special offers have cleared a large part of the stockpiled cars (money to
BMW), which originally was a big plus for a prospective purchaser. He now
has to start making his own to sell.
PaulH.
----- Original Message -----
From: <MGMagnette@aol.com>
To: <mgs@autox.team.net>
Sent: Tuesday, May 09, 2000 5:53 PM
Subject: More on Rover Sold
> Phoenix deal saves Rover from closure
|