British Leyland chiefs yesterday accepted the Ryder plan for a Government takeover of the ailing car empire. But they hope to improve the 10p-a-share Government offer. Leyland chairman Lord Stokes told of the decision , in a letter to shareholders. He took a knock at some parts of the report by Sir Don Ryder, the Government’s chief industrial adviser.
Lord Stokes, who is expected to become president of the company in a management reshuffle, complained that the report: Incorrectly implies that there was no plan for the financial organization of the company.
It had been explained to Sir Don’s team that the present organization was “transitional.” Predicts future performance and assumptions. The forecasts, says Lord Stokes, depended on improving efficiency, “which in turn depended on realistic manning levels and fuller utilisation of capital assets.”
Is the Editor of the Parkers website and price guide, formerly editor of Classic Car Weekly, and launch editor/creator of Modern Classics magazine. Has contributed to various motoring titles including Octane, Practical Classics, Evo, Honest John, CAR magazine, Autocar, Pistonheads, Diesel Car, Practical Performance Car, Performance French Car, Car Mechanics, Jaguar World Monthly, MG Enthusiast, Modern MINI, Practical Classics, Fifth Gear Website, Radio 4, and the the Motoring Independent...
Likes 'conditionally challenged' motors and taking them on unfeasible adventures all across Europe.
Latest posts by Keith Adams (see all)
- Blog : Rover 75 shown to the world – and torpedoed - 21 October 2018
- Concepts and prototypes : MG Rover RDX60 (2000-2005) - 21 October 2018
- The cars : MGF and TF development story (PR3) - 2 September 2018