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
Operation Phoenix (railway) looking for someone to blame. In 1949 a review of the Victorian Railways was commissioned by transport minister Kent Hughes, and was carried out by British Railways Chief Executive John Elliot. The report found much to admire in the management and staff, but criticised the run-down locomotives, rolling stock, and track and predicted a "final breakdown of rail transport" in ten years if nothing was done. The ideas of the report were not new, the Victorian Railways had been making plans for modernisation of their operations, but did not have the money or political will to implement them. Operation Phoenix