Oh right cheers Mandleson! - Page 3

e668ecp · 14th August 2009, 20:05

Quote:

Originally Posted by The Yellow Peril

Something that was mentioned today at Longbridge was that in 2001/02, Longbridge was profitable but the debts came about because BMW dumped all their Cowley loses on to Longbridge to "balance the books" when they pulled out, so maybe the report will make interesting reading after all.

Andy

How can that be? BMW had left by March/April 2000. MG Rover made a massive first year loss, albeit much lower than when Rover Group was under BMW's control

The Yellow Peril · 14th August 2009, 20:14

Quote:

Originally Posted by e668ecp

How can that be? BMW had left by March/April 2000. MG Rover made a massive first year loss, albeit much lower than when Rover Group was under BMW's control

I was only repeating the position as passed on today at a discussion with very senior MGMotorsUK (SAIC) Directors, that Longbridge was viable and profitable but "clever" accounting by BMW, shifted massive costs to the Longbridge operation which handicapped its future as a profitable company. The £450 million pound start up loan was swallowed up by BMWs debts, not MGRovers (phoenix 4).

AG

Rover418275 · 14th August 2009, 20:21

HMG should have assisted MG Rover. If a cost benefit analysis was undertaken to see how much money this country has lost by losing it's motor industry people would be calling for the resignation of the Government.

As for Airbus, we are the minority shareholder, have France et al invested a comparable amount?

FredSpencer · 14th August 2009, 20:26

Quote:

Originally Posted by Rover418275

............... calling for the resignation of the Government.

We've already been doing that. They just don't listen.

Zeb · 14th August 2009, 20:46

I LIKE Mandelson..'Prince of darkness'

e668ecp · 15th August 2009, 08:32

Quote:

Originally Posted by Zeb

I LIKE Mandelson..'Prince of darkness'

Are you joking? He's an elected peer running the country who is according to some press reports dodgy!

14th August 2009, 20:21	#23
Rover418275 Banned Rover 75 Tourer Join Date: Mar 2009 Location: Northwich Posts: 1,099 Thanks: 0 Thanked 2 Times in 2 Posts	HMG should have assisted MG Rover. If a cost benefit analysis was undertaken to see how much money this country has lost by losing it's motor industry people would be calling for the resignation of the Government. As for Airbus, we are the minority shareholder, have France et al invested a comparable amount?

14th August 2009, 20:46	#25
Zeb Banned MGZT V8 & ZTT 190+LPG Join Date: Nov 2006 Posts: 8,089 Thanks: 0 Thanked 0 Times in 0 Posts	I LIKE Mandelson..'Prince of darkness'