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'Phoenix Four' MG Rover directors to be banned
Fri, 11 Sep 2009The 'Phoenix Four': John Towers, Nick Stephenson, Peter Beale and John Edwards. All roundly criticised in today's government report By Tim Pollard Motor Industry 11 September 2009 09:14 The UK Government today said it plans to disqualify the executives who ran MG Rover in the run-up to its collapse in 2005. A report out today from the Department for Business, Innovations and Skills slams the 'Phoenix Four's involvement in the business and is highly critical of the way they withdrew £42 million in salaries and pensions despite the company's parlous financial position.
New Mercedes A Class based Mercedes CLC to debut in LA
Sat, 17 Mar 2012Mercedes CLC to debut as Mercedes-Benz Concept Style Coupe? It looks like the new Mercedes CLC – a mini CLS based on the new A Class – will debut at a film and food festival in LA as the Concept Style Coupe. We know that a mini CLS based on the new Mercedes A Class is planned, and we know it’s likely to be the Mercedes CLC (or any number of other potential monikers including CLA and BLS) and will probably even spawn a CLC Shooting Brake version too.
GM's Henderson says no decision yet on bankruptcy
Fri, 17 Apr 2009General Motors CEO Fritz Henderson said today the company has not decided whether to file for bankruptcy protection, but that preparations continue in case such an action is necessary. "We have until June 1, and if we can't do it between now and June 1 then we do it in bankruptcy," Henderson said during a morning teleconference with journalists. Still in his first month at the helm after the March 30 departure of CEO Rick Wagoner, Henderson said he wasn't sure who would make the decision.