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'Phoenix Four' MG Rover directors to be banned

The '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.

Peugeot 208 GTi – the video

Peugeot keep interest in the 208 GTi with a promo video With the Peugeot 208 GTi due to debut at Geneva next week as a concept, Peugeot release the first promo video. There are high hopes for the new Peugeot 208 GTi, with Peugeot desperately hoping a performance halo for the 208 range will evoke memories of the terrific 205 GTi and filter down in to much bigger sales for more prosaic 208s. So to keep interest in the public debut of the 208 GTi next week, Peugeot has been busy cobbling together a promo video to show the new GTi blatting around – in and out of focus – so we don’t have chance to forget the 208 GTI is on its way.

GM sells Suzuki shares to raise emergency funds

By Tim Pollard Motor Industry 17 November 2008 15:24 GM is flogging its entire stake in Suzuki to pump cash into its survival funds. The General owns a 3% holding in Suzuki Motor Corporation and will sell 16,413,000 shares on the open market tomorrow. Based on today’s values, GM will raise an estimated £154 million through the sale, although Suzuki will exercise an option to buy back an equivalent number of its own shares in treasury stock.