--- Paul Hunt <paul.hunt1@blueyonder.co.uk> wrote:
> The Government jumped the gun by announcing MG Rover had gone into
> administration, as it is a privately owned company it is for the company
> to
> announce it, not the Government, and they still haven't. However
> without
> the SAIC deal there is no way they can carry on, #100M from the
> Government
> or not. Several component suppliers have stopped deliveries unless they
> get
> paid cash in hand, being owned a lot of money, and production has
> ceased. A
> typical Government cock-up, they offered #100M as a 'bridging loan' but
> only
> if the deal was going ahead. Once SAIC heard that they said 'unless you
> put
> the #100M in we won't sign', and MG Rover fell through the gap.
I have to agree, Paul, and of course, it isn't the first time the British
government has messed with the British auto industry and contributed to
it's downfall. In the past, labor has been equally to blame, although I
don't believe they were at fault this time. Oh well, let's hope that
MG/Rover somehow (like it's parent's name) rises from the ashes yet
again...
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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