At a crucial moment, and to the detriment of their mainstream business, MG Rover’s management squandered time and money on frivolous distractions.
It had all started so well, or so it appeared. It was May 2000 and, after months of uncertainty and worry, Rover Group, the UK’s last remaining indigenous volume car manufacturer, was independent again and back under British ownership. Phoenix Venture Holdings, a consortium of businessmen led by John Towers, had secured ownership of the bulk of Rover for a nominal fee of £10 and negotiated a generous ‘dowry’ of £500 million from BMW AG. The German automotive giant was just relieved to Continue reading “Phoenix Follies (Part One)”