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I dont get it...... I think its an European thing.....

The car company Rover's going out of business. They've been around for something like 100 years, but they've gone bankrupt.

hehe funny one

Shanghai Motor company backed out of a business deal to buy Rover, meaning they can no longer afford to run their main plant which has indeed been producing cars for over 100 years, making Rover effectively bankrupt.

That's to bad for them, but there must be a good reason why they have been around for so long.

DrewBoi wrote:I dont get it...... I think its an European thing.....

Rover is a car brand and now they're over!IMO Got it?!

is it true that Rover is over???
that pic is funny

Its funny till you consider how many people will lose their jobs

It's really a shame, Rover makes beautiful, luxury, tipically English automobiles (the word "car" is just unworthy)

Eacashi wrote:Its funny till you consider how many people will lose their jobs

Not to mention the other companies who are dependant on Rover. That's much more then those 6 000 lost jobs.

If Rover didnt make ridiculously expensive, and ultimately crap cars, they wouldnt have been suffering massive losses in turnover and got into such a state in the first place.

As for the jobs, it sickens me how much media coverage this event has got. 5000 jobs, so what? All the coal pits in my area have been shut down over the last few years, making all miners redundant. There were probably more jobs than that lost in just one pit.

Funny.
Poor Rover.

then how old is this http://www.seriouswheels.com/top-2004-R ... oncept.htm its the latest on seriouswheels

riiggghhhhtttttt......

Are you blind?

It says 2004

yea your right plus i noticed this April 17 - Rover 75 Coupe Concept With the continued existence of the MG Rover Group in doubt, we take a look at what may be the final concept from the last of the major British independent automakers. Design is by Peter Stevens of McLaren F1 fame.

Grez~Supra_RZ-S wrote:If Rover didnt make ridiculously expensive, and ultimately crap cars, they wouldnt have been suffering massive losses in turnover and got into such a state in the first place.

As for the jobs, it sickens me how much media coverage this event has got. 5000 jobs, so what? All the coal pits in my area have been shut down over the last few years, making all miners redundant. There were probably more jobs than that lost in just one pit.

And there was a lot of kerfuffle about the pits being closed as well. It's a terrible thing that 5000 jobs have been lost. Maybe you wouldn't feel the same if you worked there.

But I agree, their cars were generally a bit pants. Hope we still get that cool looking one from MG though, cause that just looks great. Cant remember what it was called.

5000 jobs is nothing. The blame rests with the senior managers who swindled 40 million out of the company. The X power was a piece that they couldnt afford to produce.

Good riddence.

What do you mean 5000 jobs is nothing.You must be crazy.

Its nothing, relatively speaking. People should have got out of MG/Rover 5 years ago when BMW sold them. The redundancy package then was 50k per person. Now its an average of 4k.

Grez~Supra_RZ-S wrote:Its nothing, relatively speaking. People should have got out of MG/Rover 5 years ago when BMW sold them. The redundancy package then was 50k per person. Now its an average of 4k.

But 5 years salary + 4K would amount to more than 50K easily

50k, no tax. Bearing in mind that Rover was a very capital intensive company, the need for workers of skill grade 1 would be minimum, therefore I estimate that the average wage for a factory employee would have been around 16k, before tax. This comes to a total of 80k admittedly, plus the 4k 'golden handshake'.

But thats beside the point. Would you rather have 84k over FIVE years, minus tax, or 50k in one lump sum? Just remember how long a period of time 5 years is.

Yes but one day the money will finish and then...