I've heard about this too(and it's something I feel strongly about)
The romantically-named 'Phoenix Group' is headed up by an ex-Rover man and
some other people from the UK car industry. It's a valliant attempt to
regain some credibility from a seemingly lost cause. Phoenix are hoping to
get several millions worth of aid from the UK Govt, as they only have around
200-million themselves. The Govt is caught in "Eurocracy" - in fact a
150-million pound grant was caught up in Brussels, intended for Rovers
current owners - BMW!
I am sceptical - in fact I think the whole BMW deal was rotten to the core.
They had ideas above their station BMW is still a 'family business' and
doesn't have the financial clout to match people like Ford or Volkswagen.
I hope that this comes off, but I think that Rover is doomed without some
serious help. Selling off "names" like "MG" and "Land Rover" just stinks. I
am glad Alchemy is out of the way, they had no intentions of doing anything
but making a fast buck.
Lets hope they can rise from the ashes (at least it's more feasible than
turning lead into gold)
Andy Gascoigne
http://www.spitfires.net
PS - If Rover folds, it will mean that the country's largest car
manufacturer is, wait for it; TVR !
-----Original Message-----
From: John Cave [mailto:cavej@mcmaster.ca]
Sent: Wednesday, May 03, 2000 9:08 AM
To: Spitfire List
Subject: stop press
news this morning from the u.k. re the ongoing saga of B.M.W. and
ROVER.The venture capital company Alchemy which was going to trade under
the name M.G. has withdrawn from negoations with B.M.W. A new group
called Phoenix headed by the former chairman of ROVERS and preferred by
the U.K. government is now talking with B.M.W. if they get ROVERS they
say they will trade under a classic British car name possibly
Austin-Healey or TRIUMPH.
John Cave
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