FT.com / Comment & analysis / Analysis - The wrong and winding road:
FT (subscription required) on the sorry Rover saga.
"This latest, probably final chapter began in 2000, when BMW, the German carmaker that had poured £3.4bn into Rover since buying it from British Aerospace in 1994, abandoned all hope of turning the lossmaking business around. BMW announced a plan to sell Rover to Alchemy, a private equity firm led by Jon Moulton, which would whittle it down to a niche producer of MG sports cars, cutting 4,000 jobs. BMW, fearful of the potential backlash in one of its most important markets, offered a dowry of £500m to help fund the restructuring and redundancy. "
John Kay: Cult of the practical man killed MG Rover
Kay argues that modern firms need outside expertise.
Wednesday, April 13, 2005
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