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May 3rd, 2012 
FAKE NEWS for the Zionist agenda - Following firm’s collapse ex-workers were told millions of pounds would be available for them
- But compensation fund has just £22,000 which needs to be shared between 6,500 former workers
- Firm’s previous owners the Phoenix Four had told workers that millions would be available to them
By
Anthony Bond
04:19 EST, 3 May 2012
|
09:00 EST, 3 May 2012
Former workers at MG Rover are to receive compensation of just £3 each after fighting a seven-year battle for redundancy payments.
Campaigners fighting for more money for the 6,500 employees who lost their jobs following the collapse of Britain’s last major car maker were told of the tiny payout this week.
When the firm collapsed in 2005, workers were told by the company’s owners that millions of pounds would be available for them in a compensation fund.
Shocking: Former workers at MG Rover are to be handed compensation of just £3 each after fighting a seven-year battle for redundancy payments
But, as reported by The Guardian, the fund has instead just £22,000 which needs to be shared among the thousands of workers whose jobs were lost.
Following news of the payouts on Monday, campaigners are now calling for personal donations to the workers’ fund from the ‘Phoenix Four’ – made up of John Towers, Nick Stephenson, John Edwards and Peter Beale.
The businessmen bought the company for just £10 in 2000 and then paid themselves and Kevin Howe, the managing director, a total of £42m.
A formal request for contributions to the fund has now been sent to representatives of the Phoenix Four.
Demands: Campaigners are calling for personal donations to the workers’ fund from the Phoenix Four – which includes John Towers, left, and Peter Beale, right
Speaking to MailOnline, Oliver Thomas, a former Longbridge employee and founder of the Justice for Rover Workers group, said:
‘Obviously we are disappointed, given that they took £42m so it is not as if they would struggle to put some money in.
‘We campaigned for these guys to come
in and once they came in they took as much as they could. They made us
redundant, made false promises and left us hanging.
‘It is very upsetting and cruel.
Let down: Workers had been told that millions would be available to them in a compensation fund. Pictured are John Edwards, left, and Nick Stephenson, right, both members of the Phoenix Four
‘There are people out there who needed that money and were relying on it. I just think it is very sad for the ex-workers.’
Mr Thomas added that, despite the request, he was not confident the workers would get any extra money from the ‘Phoenix Four’.
ROVER’S RISE AND FALL
1904: Rover, founded in Coventry as a bicycle business, produces its first car.
1924: MG set up by Cecil Kimber in Oxford, producing sports cars and saloons.
1959: Mini launched.
1964: Sales of Mini Austin 1100 peak at 380,000.
1968: British Leyland Motor Corporation takes over BMC and Rover.
1975: Government effectively nationalises British Leyland.
1980: Austin Metro launched.
1988: British Aerospace takes over Rover.
1994: Rover sold to BMW
Spring 2000: BMW breaks up Rover Group.
May 2000: John Towers pays a nominal £10 for MG Rover with his Phoenix consortium.
November 2003: Longbridge suspends production of 25, 45 and 75 models as sales slump.
March 2004: Commons committee accuses Phoenix of ‘financial sleight of hand’.
August 2004: News emerges that MG Rover could be bought by the Chinese.
November 2004: BMW calls Rover bosses ‘the unacceptable face of capitalism’.
April 2005: Government goes to China to try to secure a deal with the Shanghai Automotive Industry Corporation.
April 7, 2005: Production suspended at Longbridge.
Speaking to The Guardian, a spokesman for the four businessmen – who last May were disqualified from working as company directors in Britain for a total of 19 years – said: ‘All we would want to say is that the request has been noted.’
Campaigners hopes for securing an additional £12.5m have recently been dashed in the High Court.
It ruled that Phoenix Venture Holdings – MG Rover’s former parent – was not allowed more information on money paid to creditor HBOS by administrators in 2005.
Lloyds Banking Group – the bank which now owns HBOS, said it made losses from the firm’s collapse and has a duty to its shareholders to try and minimise the losses.
When Phoenix bought Rover in 2000 they had the backing of Rover workers and the Labour government.
It followed a warning from BMW that it could close the Longbridge plant, with the loss of thousands of jobs, unless a sale was secured within a month.
In one of the most dramatic rescue bids in the history of British industry, former Rover executive John Towers paid a nominal £10 for MG Rover when his Phoenix consortium took over the company from the German car giant.
But in October 2003, the car maker announced it had lost £111 million in the year to December, compared with £175 million in the previous 12 months.
Two years later, figures showed the firm had sold 12,545 cars in March, down by almost 17 per cent on March 2004.
In April, 2005, MG Rover suspended production and it was later announced that the car giant was calling in the receivers.
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The whole sad saga of a once good British motor company ,STINKS !
Like lots of British industry that has been lost along the way, with 1000s of jobs and future employment.
Makes one wonder, if all these Industries ,where sold down the line ,..on purpose.
Fishing-Mining-Steel-Ship Building-Garment trade-Chemicals..on and on the list goes and its strange many of these industries died or were killed off since we joined the EU.
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Rule 1 for sincerity, they bubble with consent. Rule 2 for proper technocrat, they toast with bread. Rule 3 for warmth and sensitivities, they enjoy sparring spuds probably with fried then simmered anchovies for efficient heat dispersion. Rule 4 for design, stand up for proper human rights as opposed to preposterous, unsubstantiated allegations cause you would not want your time or other people’s time wasted. Otherwise, good luck paying, multi billions is it?, European debts.
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This gang were hailed as hero’s when they bought the company for £10. from BMW! Another case of sleight of hand by the New Labour mob, voted in by the very people who lost their jobs. And what’s there now? Apparently Longbridge is going to have a new ‘city’ centre. Lets hope the local population like working in fast food outlets and chain store clothing shops. All those skills lost, thanks BMW and New Labour!
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As I live in Longbridge I feel sad that a once great car manufacturer is no longer there. Although there may have been problems with the former car plant, it was never beyond repair and more could have been done to save it. The recent resurgence in Britain’s motor industry could be the first steps in getting our nation out of this recession, and Rover could have been part of it.
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Had the original workers not meekly followed union orders, British Leyland (as MG Rover was then) might still be up and running. Tough on the last batch of workers but I’m afraid it was always coming. (Ex-owner of 2 Rovers and an Ambassador.)
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No sympathy, always on strike selling a car that was naf
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The “Phoenix Four” were backed by the Unions, the Labour Party (especially Steven (a faint knowledge of the truth) Byers. Of course they were doomed once reality set in. But in true New Labour manner made sure their nest was well feathered first. As for the workers… not really a Labour priority.
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A “legal” crime, change the law; let there be a juridical enquiry ,get the the CPS involved, followed by the procedures of crime act; then get the money back; will it happen; NEVER
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An an ex Powertrain worker for 33 years (that the place where the engines and gearboxes came from) another kick in the teeth has been received. We all lost our pensions be it the PPF stepped in and paid us about 50% of the value. Then the Chinese came in and paid 70 million for the plant. It was the best takeaway of the centuary
Newspapers go on about the unions were and are breaking this country, compare this to the cowboy directors and bankers we have and of course bent politicians. The unions are a buch of amatures.
It makes me proud to be British.
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The workers got completely swindled. (Swear words edited out to allow for posting.) Somehow its legal. Its an example of pure greed and little justice that some businessmen can get away with in this country. The ‘Pheonix Four’ should be in jail for the bribes and the records they destroyed at the very least. But no, there is no adequate justice here.
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