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Discussion Starter · #1 ·
a) They have not 'acted' like a company in decline - not sheading jobs, etc
b) they have been talks with SAIC, why would the chinese do a deal?
c) Nothing has been done until the last minute.
d) Why has money been spent on 'other things'
e) Where has all the money gone, if they were planning to break even this year?

Some things just don't add up to me. All this seems to have happened overnight. Surely something would have been doen earlier if it was that bad.


Im not so sure its all over, OK MGR might contract, but I still think a company of some description will exsist, even if its not run by the P4
 

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other_rover
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rjessett said:
a) They have not 'acted' like a company in decline - not sheading jobs, etc
b) they have been talks with SAIC, why would the chinese do a deal?
c) Nothing has been done until the last minute.
d) Why has money been spent on 'other things'
e) Where has all the money gone, if they were planning to break even this year?

Some things just don't add up to me. All this seems to have happened overnight. Surely something would have been doen earlier if it was that bad.


Im not so sure its all over, OK MGR might contract, but I still think a company of some description will exsist, even if its not run by the P4
Your confused????????????????? We're all confused!!!
 

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mg_zr
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It does seem a little strange how everything has just exploded and press releases seem more towards doom and gloom. Probably down to the media being the catalyst for it all but it does seem a little bit of cat and mouse situation.

It's big business so we're only going to be hearing snippets of the truth mixed in with spin/deception and public pursuasion tactics.

It's driving me nuts... I've got a new ZR on order and I'm now off to bury my head in the sand :)

-Rob-
 

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Discussion Starter · #4 ·
None of all this seems to be making any sence to me at all

I can't see how a company of MGR's Size can go broke overnight!

Was Alchemy right in the first place? Was it just postponing the pain?

There are just too many twists in the BMC>MG Rover Story.

I can't see how sucessive people over 40 years have got things soooooo wrong!

There must be some gutted people around at the moment. Im gutted, and I have not links to the company what so ever (Well except for my ca!r)

LETs hope this is not the end of the eternal Soap Opera!
 

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Yup, all very puzzling and more questions than answers.

Personally, I think the reason that this whole thing has exploded over the past couple of days is because some elements of the media, togehther with some of Tony's cronies, appear close to fulfilling their own prophecy, for their own nefarious reasons and personal gain.

Reminds me of Mr. Pietschreider's comments 'There was no crisis, so we had to create one.' :err: And this time, they've succeeded.

Regards

John
 

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other_manufacturer
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JohnSwitzer said:
Yup, all very puzzling and more questions than answers.

Personally, I think the reason that this whole thing has exploded over the past couple of days is because some elements of the media, togehther with some of Tony's cronies, appear close to fulfilling their own prophecy, for their own nefarious reasons and personal gain.

Reminds me of Mr. Pietschreider's comments 'There was no crisis, so we had to create one.' :err: And this time, they've succeeded.

Regards

John
Do you know if BMW, as the biggest creditor (that I know of) could potentially endup with MGRover, should everything go horribly wrong in the next few days ?
 

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rjessett said:
a)

Some things just don't add up to me. All this seems to have happened overnight. Surely something would have been doen earlier if it was that bad.
I dont think it was overnight. My local dealer "disappeared" over a week ago. I had a service done just over three weeks ago and it was business as usual. Then last week I went to get some parts and there was an empty building (that looked like it was cleared i a hurry) and a demolition sign on it.

When I asked why it was shut at the parts dept, they said it was closing because no-one was buying cos MGR had not brought out any new models.

So yes, it was very sudden with no warnig for them, but that was almost two weeks ago now, so this is no shock really. Rats....ship......
 

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Nick Birse said:
Do you know if BMW, as the biggest creditor (that I know of) could potentially endup with MGRover, should everything go horribly wrong in the next few days ?
Interesting.
Though if the loan really isn't due till 2049, I presume it would fall in the "Falling due after more than one year" section of MGR's accounts, which might mean BMW are much further down any list of creditors.

Some BMW-Alchemy conspiracy might be on the offing though? Just an idea, hope not.
 

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The truth is, folks, that until John Towers writes his autobiography, none of us will ever know exactly what has been going on over the past few weeks.

I still stand by my maths I laid out a week ago. I honestly cannot see how MG-Rover can have lost a minimum of over £450,000,000 in the last fifteen months. According to what some of the newspapers have said about pension funds being £400,000,000 in arrears, that figure would have to be nearer £850,000,000. It's just plain daft.

I can see that MG-Rover may not have enough money left to productionise the RD60. That could be feasible, but to lose the best part of half a billion quid in fifteen months..?!

Has anyone checked behind their sofa? They could be in for a windfall...
 

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Assuming that they really have stepped up development of RD/X60 / Nexus this year, and possibly other models (aluminium sports car platform, etc), then perhaps they have spent enough to lead to cash-flow problems. That combined with falling sales might be enough to make it difficult.

But - if there are new cars very nearly finished, then MGR/Techtronic/PVH/whoever the IP is assigned to, has rather large assets (which might not be owned by MG Rover itself). Maybe SAIC (or someone) will buy just the IP on the new cars?

In a lot of cases like this, there's just an MBO from the administrators, a change of name and the company escapes a lot of liabilities, but there must be some reason (other than ethics) why this won't happen with MGR. Possibly the terms of the BMW loan?

Off-topic, and hardly a fair comparison, but when Reliant was in receivership (1990, 1994 and 1996!) the new management each time (allegedly) lost a lot of goodwill with suppliers by escaping some of the creditors of the previous company, to the extent that in 1996 the MD had to buy back the parts operation from Unipart (sold in 1988 to raise desperately needed cash - sound familiar?) just to provide a steady day-to-day income, in order to pay parts suppliers who were demanding cash up front before supplying anything, so little did they trust the company to pay!

(To be fair, in 1994 the receivership was due to bad debts from Leyland DAF, also in receivership - a major customer for Beans Industries who owned Reliant at the time,and who had been formed by an MBO from Rover Group in the '80s... once again the Leyland spectre raised its head!)
 
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