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The Government have announced aid for suppliers. So money IS there, why the hell couldn't they find it yesterday??

Just what IS going on??:devil:
 

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FFS - they'll bail out their suppliers but not MGR, WTF is this Government doing. I thought the tories were bad, I take it all back.
 

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I have just written to Tony Blair and Patricia Hewitt demanding that they take some action. Bloody hell!! Maybe they will pull their fingers out after all.

Write to everyone you can.

Demand that MG Rover gets some money to keep itself afloat
Demand that the government helps it to find new investment or a new partner
Demand that the government publicly buys new Rover 75s for every minister
Demand that their is a public inquiry into the role of the BBC and the newspapers in precipitating this crisis.

Tell them to ignore EU rules. Tell them we won't accept anything less- but don't swear at them, they don't like that!

We aren't finished yet!
 

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Just heard whats happened, and for the first time in a year my car wont start gettingme soaked and late for uni. I cant believe what the government is playing at. Its a disgrace, lets hope the unions can 'salvage' MG Rover.
 
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Where i must be blind.


Also on BBC Longbridge worker says that MG TF production is continuing this morning. Some glimer of hope
 

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The problem is that Woodly was on the TV today saying that they're preparing support packages for the members.

Just seems to be that the Government and Unions have washed their hands of MGR....
 
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SteveChilds said:
FFS - they'll bail out their suppliers but not MGR, WTF is this Government doing. I thought the tories were bad, I take it all back.
Here here - this car compny MUST be saved

Can't we start a slush fund - i'll put in £1000
 

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I did think that m8, problem is we couldn't raise anywhere near the figure they'd need. :(
 

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UK Govt Hewitt Hopes Some Mfg Can Continue At Longbridge


262 words
8 April 2005
07:18
Dow Jones International News
English
(c) 2005 Dow Jones & Company, Inc.
LONDON (Dow Jones)--Patricia Hewitt, the U.K. government official responsible for industry, said Friday that a GBP40 million support package would be made available straight away to help suppliers of the crisis-hit carmaker MG Rover Group Ltd.

Speaking to the BBC, Hewitt said many had already diversified to supply the many non-British carmakers now operating in the U.K. and the package would help them continue that process. [ 08-04-05 0728GMT ]

MG Rover has been in crisis since rescue talks with China's Shanghai Automotive Co. Ltd. (600104.SH) appeared to break down earlier this week.

Hewitt said she was hopeful that manufacturing could continue at Longbridge, MG Rover's plant complex, noting that it produces engines for Land Rover, a unit of Ford Motor Co (F), and the MG sports car which was never part of the Chinese rescue deal. [ 08-04-05 0739GMT ]

Hewitt said Thursday night that the company was calling in administrators, which would give it protection from creditors, but the company itself said later only that it was calling in financial advisors.

Hewitt told the BBC Friday that she had been told of the move by MG Rover Chairman John Tower and had simply passed the information on.

She said the government's offer to provide a GBP100 million bridging loan to Rover as the Chinese deal was worked out had in effect lapsed, saying a bridging loan could only be provided "if there is a bridge to something." [ 08-04-05 0747GMT ]
 

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SteveChilds said:
The problem is that Woodly was on the TV today saying that they're preparing support packages for the members.

Just seems to be that the Government and Unions have washed their hands of MGR....


Well wasn't he the Idiot that told Hewitt the Administrators had been called in??? He is partly to blame!
 

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Its really sad whats happening, especially as its the centeneary year.

The government needs to be doing more. I think the £40m is just for money Rover have yet to pay (outstanding debts) rather than paying them off to cover the loss of not producing Rover parts?
 

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It's encouraging that TF production is continuing, I think Price Waterhouse will consider the MG brand as one of MGR's biggest assets.

Let's all hope and pray that MG doesn't snatched from Phoenix by another manufacturer. Phoenix need to transfer as much of the MG brand as possible to MG Sport and Racing ASAP !
 

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I wonder how PwC will value the MG brand, because it's very difficult to determine how much an asset like that is worth, without actually having bids for it.

Really hope that all the work on the RD/X60 is not written off. But again, very difficult to value. From what I remember, Phoenix's accounts don't list R & D IP as an asset, but write it off as and when it occurs. That's very prudent, but it makes the company undervalued when it comes to situations like this...
 
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