Archive : It’s A Deal, Says Stokes

Carole Nash Classic Insurance Specialists

DAILY MIRROR

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.”

Keith Adams

Keith Adams

Editor and creator AROnline at AROnline
Created www.austin-rover.co.uk in 2001 and built it up to become the world's foremost reference source for all things BMC, Leyland and Rover Group, before renaming it AROnline in 2007.

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.
Keith Adams

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