Monday, June 13, 2005

I'll be watching the telly tonight.

Firstly I am not a great TV fan, I can usually find much better things to do with my evenings (sometimes not even involving drinking), but I shall be checking out ITV tonight at 8. Sandwiched between Airline and Corrie is “Tonight with Trevor McDonald” , the first of a two part investigation in to the MG Rover collapse. It is being presented by Quentin Wilson (ex BBC “Top Gear”, reporter).

The Programme shows how the so-called Phoenix Four burned through the billion
pound dowry left to them by Rover's previous owners, BMW. In an astonishing
story of management failure, he reveals how the globe-trotting directors missed
out on investment opportunities around the world, while back home the company
that employed more than 5,000 workers edged towards extinction.

Automotive manufacturers are significant users of steel strip, not only for the obvious body panels, but either directly or indirectly (via component manufacturers), for sub assemblies, seat slides, seat belts, locking parts etc. The demise of Rover has therefore had a major impact upon steel processors and press workers throughout the West Midlands.

The Express and Star under the banner Rover’s huge trail of debt across region, report today on the scale of the problem. Tipton based RDS automotive appear to be the biggest loser with a debt of £900,000 resulting in the redundancy of 75 staff. Other creditors include Johnson Controls, Bloxwich Engineering, Jenks and Cattell and even Dudley College, who are owed £162,000 for running the apprenticeship scheme.

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