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Discussion Starter · #1 ·
For making millions out of a company which ran out of money. I posted a thread a couple of nights ago and got slated by a lot of you but I think the directors have a lot to answer for.
 

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I think they have behaved honourably throughout the last 5 years. If there is an investigation I hope it exonerates them. Unless its just going to be an act of vengeance by the Government to deflect the blame..
 

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Discussion Starter · #4 ·
dynamo said:
Heard that on TV earlier.

I bet they won't be heroes at the end of it.

Exactly my feelings. There's a lot of sycophants on this board who think the sun shines out their asses.
 

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They were given everything, inclunding time to slim down MGR and design/build a new MG Sports car, as in 50,000 a year. They took over and pissed around ,pissed away the time and cash, nothing to show for it.

Knobheads!
Mega
 

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Mega said:
They were given everything, inclunding time to slim down MGR and design/build a new MG Sports car, as in 50,000 a year. They took over and pissed around ,pissed away the time and cash, nothing to show for it.

Knobheads!
Mega
Define "pissed around"

Define "pissed away the time and cash"
 

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Windy Miller said:
Exactly my feelings. There's a lot of sycophants on this board who think the sun shines out their asses.
No Windy, we just don't believe the tripe printed in the press about them. Its just an attempt by the Government to find someone to blame so they don't get blamed.
 

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Windy Miller said:
=I posted a thread a couple of nights ago and got slated by a lot of you but I think the directors have a lot to answer for.
I do to, but I would stop short of saying they did anything criminal. I think they just plain muffed up, though with the money available I don't know that they could have done vastly better.

DD
 

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Well Nick
Pissed around, like they were some great automotive force with a world wide dealer net work. Trying to build a car to match Nissan,Audi,Etc, When they should using the 75,45,25 to give them time to come up with a range of sexy Sports cars selling say 50,000 a year (MGB&MGB/GT).

Not Pissing around with that SV and Dreaming about palming the 400 million onto somebody else.
Mega
 

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Windy Miller said:
Exactly my feelings. There's a lot of sycophants on this board who think the sun shines out their asses.
No doubt it'll all come out in the wash.....
Dunno about the other 3, but John Towers comes across genuine. Time will tell if that is the case. The guy has been in china sweating blood for this deal, would he have gone to the trouble had he not got MGR's best interests at heart?
Regards the structure of MGR with holding companies etc, its not an uncommon arrangement. Just a way of risk management to ensure the whole business doesn't go tits up should there be problems.
The P4 will be the scapegoats because the press will make them so. It deflects criticism of them ffs. Can someone tell me what difference the alleged £40m would have made? would we still be where we are now? I think so.
Point the finger of blame at the government of the day who sold Rover to BAE (who didnt actually pay any cash up front , then made a profit on the adventure when selling to BMW).
John Towers literally begged Honda to take a majority stake but they were rightly pissed at having ther rug pulled out by BAE involving BMW.
I will make a prediction now that in under 10 years time Cowley will be shut and they'll be building the MINI's sucessors in a former eastern bloc country. Or South Africa.
 

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Discussion Starter · #11 ·
SteveChilds said:
No Windy, we just don't believe the tripe printed in the press about them. Its just an attempt by the Government to find someone to blame so they don't get blamed.

Nonsense. I hate the Labour government but I'm afraid you have to look at the situation and it's clear to me that the directors p*ssed about and did not do a good job. It's time to wake up and realise you're been licking the sh*t off of someones bottom for the last few years.
 

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SteveChilds said:
No Windy, we just don't believe the tripe printed in the press about them. Its just an attempt by the Government to find someone to blame so they don't get blamed.
I think Wendy was correct the first time.
 

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Mega said:
Well Nick
Pissed around, like they were some great automotive force with a world wide dealer net work. Trying to build a car to match Nissan,Audi,Etc, When they should using the 75,45,25 to give them time to come up with a range of sexy Sports cars selling say 50,000 a year (MGB&MGB/GT).

Not Pissing around with that SV and Dreaming about palming the 400 million onto somebody else.
Mega
Mega is back and talking sh!t as usual.......
 

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I think saying they pissed around is a bit strong, they tried, several times, to get a partner, which is what they said they needed all along. The business plan they showed before they bought the company no doubt said that was the idea... the plan that was backed by Labour and Stephen Byers.

Ok they wernt succesfull, and it seems they were strung along by the Chinese twice, but had they of pulled of a successful deal with the Chinese I suspect it would have meant huge business and then the directors would have been celebrated... at least they tried. And they tried to maintain a British car company mass producing cars not a 'slimmed down' sports car maker, we have lots of them already and the dont each give jobs to 20000 people, but because it has come to a head this week, they now look like the bad guys!

Time will tell!
 

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the mg and rover story has not been resolved nor finnished. i think the directors have not mistreated the company. how far do u think the money from the pension pot would go now? a few weeks? people say that they wasted money and time making the MG range (remember sales increased 50% the year it was launched) and facelifts, but they where all needed to keep cash flow going, if they hadnt they would have been long gone and/or laid off thousands of staff earlier. compare the £500mill loan from BMW (which had to last for five years) to the annual revenue of £1billion+ maintained by the P4 for 5 years keeping cashflow up.

if they had focused on the rd60 they would have been racing against a cashfloiw time bomb (before mg) and would have gambled the future on 1 car.

I think they have acted responsibly for the company.

my only concern is PVH devouring MGR's assets, keeping money from the city rover and owning IP and brands. i reckon that in the next few weeks the phoenix itself will riseee!!!! lol free from bmw loan and pension liabilities
 

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richierover said:
compare the £500mill loan from BMW (which had to last for five years)
I read today in a business newspaper that JT claimed when he bough MGR for £10 that they would be in the black within 2 years.

I wonder what his idea was based upon because it's obvious he was seriously wrong.
 

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Windy Miller said:
Nonsense. I hate the Labour government but I'm afraid you have to look at the situation and it's clear to me that the directors p*ssed about and did not do a good job. It's time to wake up and realise you're been licking the sh*t off of someones bottom for the last few years.
Windy. WTF are you on?

Everything I said I said BECAUSE I BELIEVED IT. Not because I wanted to get in someone's good books. I said it because I believe it.

I BELIEVE that the P4 did they best job they could to save the company, they had some very bad luck, made some mistakes, had dodgy PR but they did not piss it all away or bleed the company dry.

If you believe that they pissed it away, fine - but don't call someone an ar$e licker because they don't suscribe to the same view as you on the matter.
 
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