[ROVERNET - UK] Rover's future

[Bill Robertson]

Just read a great article on the 4 directors of MG/Rover and the future of 
the company.........Seems that while hinging their future to the proposed 
merger with the Chinese they have seen fit to once again award themselves a 
3.6million pound bonus to their pensions to go along with the 10million 
pounds they awarded themselves last year............For an inital investment 
of 60,000pounds each that seems like quite the return on their investment 
for a company that has lost a billion pounds since their takeover from BMW, 
although only lost 77million pounds last year........THey were given a 550 
million pound loan, from BMW, that was more of a gift, in that it was too 
cover costs associated with closing the company when BMW gave up on 
it.............Today that money is long gone.....The company is struggling 
,but the directors are getting richer..........Simple economics tells you 
that if you are only selling 4 cars for every 5 you make you have a serious 
problem yet the directors seem quite willing to take what they can get out 
of the company while they can................No one begrudges a businessman 
making money but when the business is very unstable it seems it would be 
more prudent to reinvest the money the directors are taking, back into the 
company to increase sales.........They make a couple of great cars 
..............they just need more buyers and a better service network 
.......Here's hoping greed does not kill off the great Rover name once and 
for all

Bill Robertson