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A can of worms beneath the skirtPosted by Jeremy Goldkorn on Tuesday, April 5, 2005 at 3:10 PM
It seems that SAIC (Shanghai Automotive Industry Corporation) might not buy MG Rover, because the British carmaker is in such bad shape. Today's Daily Telegraph reports: Talks between cash-strapped British car maker MG Rover and Chinese motor giant Shanghai Automotive Industry Corporation stalled last night, raising the prospect of thousands of job losses in Labour's key West Midlands heartland on the eve of the general election. There follows a rather unappealing mixed metaphor: However, Chinese confidence in MG Rover has ebbed as its financial problems became apparent. One source said: "When an inch of the skirt was lifted, it revealed a whole can of worms." LINK: |
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