John Towers (businessman) Nick Stephenson and John Edwards, Towers formed Phoenix Venture Holdings (PVH) which bought Rover Group for £10 in April 2000. In addition they also bought the Studley Castle, a conference hotel. They subsequently purchased Midland Powertrain, MG Rover's engine plant from BMW for £20. Finally, for £50 along with an undisclosed sum from the Royal Bank of Scotland, they purchased Rover Capital, (now MG Rover Capital) a book of Rover car loans. Kevin Howe was appointed MG Rover's Managing Director in July 2000. In April 2005, MG Rover went into administration, following the collapse of takeover talks with Shanghai Automotive
John F. Stephenson John F. Stephenson John Stephenson (14 May 1937 – 14 October 2014) was an Australian rules footballer who played with Carlton in the Victorian Football League (VFL). The son of Jack Stephenson, who also played for Carlton, he was recruited from Benalla, but only played a single league game in 1958. In 1989 he was a passenger on United Airlines Flight 811, where 9 people died after being blown out of the plane when the cargo door failed mid flight. Stephenson was seated 11 rows behind where the fuselage was breached. In October 2014, Stephenson was killed when the Van's