Chicagoland MG Club: What's New?

WHAT'S NEW?
with MG in 2005


Check the most recent MG News from out friends at:

MG The Classic Mark


There is a lot of news in April about serious troubles at MG-Rover, financial and political, fall through of negotiations on the China deal, temporary plant closing, pending layoffs, shaky bail out proposition by the governmant, and speculation on possible total demise of the company. This may be nearing the end of the end, of maybe just another chapter in the mysterious history of MG. For a quick reality check, MG Rover curently has only 3% of total UK car production, where in the late 1960's British Leyland had 40% of the UK car market. You may check the following links for more news. Items are in chronological order.

http://news.bbc.co.uk/1/hi/business/4407657.stm - Talks to save MG Rover deal stall.
Monday, 4 April, 2005, 18:12 GMT - China deal shaky, and thousands of jobs at stake.

http://news.bbc.co.uk/1/hi/business/4420507.stm - MG Rover rescue hangs by thread.
Thursday, 7 April, 2005, 18:51 GMT - This thread seems not to be connected at either end (a proposed 100m - $187m bridging loan).

http://news.bbc.co.uk/1/hi/uk_politics/4294709.stm - The politics of building cars.
Thursday, 7 April, 2005, 22:29 GMT - Labor, politics, mergers, subsidies, buy outs, buy backs, foreign deals.

http://news.bbc.co.uk/1/hi/business/4422741.stm - Full statement on MG Rover.
Thursday, 7 April, 2005, 21:59 GMT - A joint statement by Trade and Industry Secretary Patricia Hewitt, Tony Woodley, general secretary of the Transport and General Workers' Union and Derek Simpson, general secretary of Amicus.

http://news.bbc.co.uk/1/hi/business/4423433.stm - Reactions: Rover on a knife-edge.
Friday, 8 April, 2005, 10:50 GMT - 6,000 jobs at risk at Longbridge & 15,000 other jobs at suppliers.

http://news.bbc.co.uk/2/hi/business/4423181.stm - MG Rover goes into administration.
Friday, 8 April, 2005, 15:14 GMT - It seems to be official.

http://www.moneyplans.net/newsroom/news.php?action=fullnews&id=1679 - MG Rover plant suspends production
Thursday, 14 April, 2005 - British carmaker MG Rover has suspended production at one plant after it ran out of components because it hasn't paid some suppliers, the BBC reports.

http://www.mgcars.org.uk/news/news957.html - Phoenix Venture Holdings Ltd: Statement
Friday, 15 April, 2005 - Redundancy announcements -- For all of us this is a desperately sad day. -- John Towers, Peter Beale, John Edwards, Nick Stephenson

http://news.bbc.co.uk/1/hi/business/4447323.stm - Thousands of MG Rover jobs to go.
Friday, 15 April, 2005, 16:49 GMT 17:49 UK - BBC News - 5,000 MG Rover workers and up to 18,000 at various suppliers.

http://www.ukmediacentre.pwc.com/content/detail.asp?ReleaseID=1414&NewsAreaID=2 - MG Rover group limited and Powertrain limited - both in administration
Friday 15 April, 2005 10:52 - update by the joint administrators, PricewaterhouseCoopers.

http://www.mg-rover.com/static/node15540.html - MG ROVER GROUP LIMITED and POWERTRAIN LIMITED - IN ADMINISTRATION
Friday, 15 April, 2005 - MG Rover Group web site for current information.



On July 22nd 2005 the Nanjing Automobile (Group) Corporation purchased the British MG Rover Group for 53 million. For more informatin about the NAC and their plans for the future of MG cars see http://www.chinacarforums.com/nanjing_mg_automobile.html
 



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