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They've been piling money into their pension funds and the workers' pension funds are short. imo the directors have demonstrated gross negligance and corruptness in running a large company, there should be more laws to protect workers from people like this.
 

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I think they've done their best for the company. They were only given 6 months by most people in 2000 remember. It is hardly their entire fault if things have gone belly up. It costs up to £2 billion to launch a new car these days. They never had this money available.

Anthony.
 

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I disagree entirely, yes they've been foolish in the way and with the timing that they have done things with their pensions, but you don't pay for a buffet and then look at it while the food goes off, do you. As far as running what was supposedly a dead business 4 years ago goes, I can't fault them. I'm still waiting to see what happens, as I don't think all this is over by a long chalk.
 
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It's a privately owned company, they are entitled tomore or less run it how they want and they have broken no laws.

You don't (normally) go to prison for abiding by the law!
 

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But they have feathered their own nests and let the workers down by their mis-management, they have done far worse than BMW ever did.

Steve
 

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They have been lest than honest, until today I genuinly believed MGR would survive. Kevin Howe and John Towers could get jobs as spin doctors!
 

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MGROVERnut said:
They have been lest than honest, until today I genuinly believed MGR would survive. Kevin Howe and John Towers could get jobs as spin doctors!
No one knows the true story yet - perhaps we never will. I personally think events have overtaken everything and things have run completely out of control, aided and abetted by our sick media. Perhaps the Chinese have deliberately pulled out to buy the remains. If so how the hell would that be John Towers and Kevin Howe's fault?

Anthony.
 

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Utter rubbish. The P4 have done there best and pension payments stopped before 2003. The simple fact of all the negative press tagged to the Rover image caused all the problems. I have not written them off yet as the administrators could say sack half the workforce and scrap one of the marques. We just don't know the via-ability of the company.
 

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they invested millions of their own money when they bought the business. They were making sure they had a pension they would be foolish if they didnt. They deserve medal for keeping it going as long as they did, and in all reality the few million they put aside themselves wouldnt have gone very far anyway. maybe we would have heard the news a day or so later thats all.
 

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anthony said:
No one knows the true story yet - perhaps we never will. I personally think events have overtaken everything and things have run completely out of control, aided and abetted by our sick media. Perhaps the Chinese have deliberately pulled out to buy the remains. If so how the hell would that be John Towers and Kevin Howe's fault?

Anthony.
I totally agree, I think the Chinese have been dragging things out to make sure MGR runs out of money, I get the feeling this was their plan all along, even today they were reporting the deal would not be signed until May, had MGR had enough money to survive until May, this whole fiasco would then have been dragged out until July, then September, then November, then January 2006.
 

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i agree. even though they have made lots of models and kept the company afloat until now. what they did was spend £10 and made millions and they are now multi millionaires and they wont even put their own money in to the brand. THey should be shot neve mind sentenced.
 

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MattL said:
they invested millions of their own money when they bought the business.
Utter crap, they invested about 60k each of their own money which was a drop in the ocean for them, the other money was £500 million from BMW. So they have wasted shed loads of money but none of their own.

With regards to the viability of MGR, there is no viability without hundreds of millions of pounds of investment in new models, the cars they have are not in the league of the competition, hence why sales have fallen, and without new models the same problems will remain.

I do hope SAIC do buy the company, at least the marque may survive.

Steve
 

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Steve B not true. The got a massive loan form an American bank to form Phoenix Venture Holdings. Ok they have made some money from it but they have made enough to keep MG Rover going a month if they are lucky.
 
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