September 12, 2009

mg rover — phoenix consortium report

Filed under: business,just whinging,politics — anne thrope (miss) @ 2:35 am

well we all like a laugh, but the report on the demise of mg rover takes the cake on so many levels i barely know where to start.

first: this toothless piece of tat has cost the hard-pressed taxpayer £16 million and yet has failed to finger a single wrongdoer.

second: the most strident critic of the report, and its subjects is lord mandelson, a guiding light in moral probity and my very favourite arbiter of truth and goodness. and the best he can do is tell them he thinks they should apologise.

third: this third-rate bunch of spivs, under the gaze, nay with the assistance of the government achieved a feat usually reserved for the more-gifted though similarly morally-bankrupt operators known as asset strippers.

to strip assets on this scale from a company long-recognised by it’s german owners to be a vast liability is a feat which almost by definition suggests impropriety. (how much is a car company which you can buy for £10 and get a vast interest free loan to run it worth? come on; the clue’s in the question.)

so how do these maggots justify taking over £40 million out of it while it’s dying on it’s arse?

hilariously, throughout the day, national news channels have referred to mg rover as the uk’s last remaining volume car manufacturer, whilst assorted industry pundits have sought to justify this plundering by suggesting that these “rewards” were consistent with the industry norms.

in reality, by contrast with the world’s genuine volume car makers, decades of woeful mismanagement had left the group looking like something under a railway arch. depressing to say the least.

how fortunate then that we now have such genius at our disposal in the financial services sector that we need no longer concern ourselves with such grubby enterprises as making things that others want to buy.

“where you been boy? oh, down the job centre?” ‘yeah. all centre, no job! but they’ve got new chairs; and a yucca plant. oh, and uniforms. musta cost a fortune!’

“come across john towers or any of his lousy cronies down there? no, thought not.”

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