“The ugliest face of capitalism”. Not the words of militant socialists but of Britain’s top bosses’ paper, the Financial Times. They were describing the betrayal of 6,000 Rover car workers by their asset stripping bosses.
The last remaining British-owned volume auto manufacturer, MG Rover, faces closure following the collapse of takeover talks with the Chinese government-owned manufacturer Shanghai Automotive Industry Corporation (SAIC). The closure threatens the loss of 6,100 jobs at Rover’s plant in Longbridge, Birmingham, as well as an estimated ten to twenty thousand jobs at component suppliers. Read more...