The death of MG Rover

[viper]

For those that don\'t know, one week ago, MG Rover went into administration and today the administrators announced that Rover, a Birmingham car manufacturing giant for 100 years is dead. With 5000 redundancies announced.

What this is another example of is corporate greed killing a company... in this case JOHN TOWERS, CEO of Rover. For the past 12months, merger talks with China\'s state owned car company have been underway to safe guard the future of Rover after BMW stripped them of all their assets 5 years ago. When the talks ran into trouble the Government got involved and have tried everything possible in order to get the deal to be made however, this failed. Tony Blair even went to the extreme of ringing the leader of China to ask him to help and intervene... he refused.

China pulled out of the deal after they saw the books of Rover and saw what a poor state they were in. However, since this has been revealed more information has come to light.... technically China have not needed to merge with rover after what TOWERS has done... he has sold the BLUEPRINTS to the Rover 25 and 75 to them before merger talks had been concluded. The 25 and 75 series are Rovers biggest selling models. And now, China can build them with no need for Rover. Also, it has been revealed that TOWERS has taken 10\'s of millions of money from Rover leaving them in the financial trouble.

It is another example of CEO\'s greed grabbing more money resulting in the company and THOUSANDS of lives being destroyed. Should company bosses be allowed to do this? Should legislation be brought in to put a maximum cap on the income of a CEO regardless of the income of the company? Should TOWERS be hung out to dry?

Kudos to the government, after trying their best to get the deal made including a loan... they gave money to the administrators to help them find a buyer for the floundering Rover. Now that the company is dead, Advantage West Midlands have set-up a task force to find new jobs/training for the poor families effected. Also the Government have announced a ?150-million aid package for the 5000 workers to help them.

Personally, I think TOWERS should be fed to the wolves and forced to use his millions to support/help his workforce and then have a nice long prison sentance. Gordon Brown, has already said he personally launching an investigation into his actions. Regardless of all this, I am still buying an MG ZR as the first car I actually own.

Vips

Rover 25:


Rover 75:


MG ZR:

[=D.C.L.I=Everest]

Hmm... That reminds me of a story that swept our nation. Nothing as dramatic job-wise though. A company by the name of Picanol went bankrupt, and some 200 people lost their job. Nothing out of the ordinary, sadly. But then it turns out the CEO gave himself unearthly paychecks (he amassed over 25 million € in his time as a CEO), sucking the company dry and killing it.

CEO\'s like that should be hanged, not just to dry.

I don\'t get this bullshit about CEO\'s having huge responsibilities and therefore huge paychecks. Okay, so they studied a little longer than your average working class whore, so they\'re somewhat entitled to a bigger pay. After all, you could say that they did an effort to get there. One could argue that a working class whore doesn\'t have the resources to study management and all to begin with, but I won\'t play the radical anti-capitalist card here.

What governments should do instead of getting on their knees to save the workforce, is take all the money the CEO\'s have taken from companies on the edge of bankruptcy. But of course, since most western governments have so greedily embraced the capitalist ideals, they can\'t do that anymore :roll:

[DarkSoulCrusader]

Hmm, capitalism is good to a point. But of course it also has a dark side that lets the heartless greedy pricks get into places of power that they should not be in. Thinking about nobody else but ME ME ME. Like in any form of government though, there will always be fraud, waste, and abuse. So sad...

[Smithcraft]

Did you read your PM Turbs?

SC

[=D.C.L.I=TuRb0jUg3nD]

Not until now. Sorry dude!

[Big-Al]

that MG ZR looks cool.

shame about Rover... my Uncle had an MG back in the 80s and I\'ve got an MG & Rover poster on my wall