ROVER

[windy]

If you had the choice of sending your zillions of tax money to Iraq to shoot people you will never see, know or be affected by, or helping out by contributing just a £1 of your tax to Rover & help people in this country get a decent life by saving the company, what would you choose?

Today I spoke to a Engineer colleague at Rover. He's been there for 22 years, been loyal to the company through hard times. He will get £280 for each year to a maximum of 12 years in redundancy, call it £3,000. He also owes £30,000 to them in the outstanding loan value on the staff cars he has. Basically he's been well & truly shafted.

[JonnyBoy]

He also owes £30,000 to them in the outstanding loan value on the staff cars he has. Basically he's been well & truly shafted

but if he'd retired or been made redundant by rover and not the creditors... wouldnt he still owe 30,000?

[windy]

but if he'd retired or been made redundant by rover and not the creditors... wouldnt he still owe 30,000?

No he would have been able to take it back, hand them the keys & walk away. The car then gets sold on through the dealerships afterwards.

We have the same type of scheme at work. You pay £x a month for a car on the staff scheme, keep it for 5 months or 8,000 miles then hand it back. You can hand it back at any time & come off the scheme. If you want another car at the end of the period you just select a new car from the list & carry on with your payments. Retiree's are usually given the option to carry on with the scheme after they've finished working for the company.

[Ian Podmore]

I'm struggling to comprehend the accounts of Rover....

£450m gift from BMW?

£800m owed after collapse

Already sold rights of cars to Chinese...... Who are now in a damned good position to buy production equipment at a knockdown price.

Pretty much no product development since Pheonix took over.

Rover was supposed to be loosing £25m per month, which is £300m a year.

These figures aren't adding up for me

Still love my ZT though, just glad I don't own it.

Totally agree with Windy, the employees have been shafted, along with the creditors.

[Mark Stanton]

and now the Chinese are gonna start building the 75 and 25 in China                        

[James]

and now the Chinese are gonna start building the 75 and 25 in China                        

Do we think  they will do anything with it? I mean if no one wanted to buy them when they were british then im sure they dont have a hope in hell of selling them when there chinese

[Peter Cox]

and now the Chinese are gonna start building the 75 and 25 in China                        

Dependant on your POV, that would be called "skillful negotiation" or "highway lobbely"

[Mark Stanton]

Do we think  they will do anything with it?

Betcha they'll sell like hot cakes to the far east and indian/asian continent                    

"skillful negotiation"

Well both the Chinese and Phoenix Group seem happy with the deal           albeit 5,000 Brummies were peeved    

[Westy1700]

The Blitish can make cars, look at the 20000 hondas exported to japan and similar numbers of Nissan going the same way - evidently being made in Britain is seen as a mark of quality over there. These guys have invested in their line and their staff and now see the fruits of that....Rover has lacked investment since the days of red robbo when the unions held a gun at the heads of management and subsequently been plundered by a sequence of asset strppers til there is nothing left.

Just an observation -  if they employed 6000 and most seemed to be driving the company product - presumably bought at a heavy discount - then the employees accounted for 1/12 of the production....at not much profit.