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 Stephenson (coachbuilder) rear entrance rather than doors along the side. He also devised many other improvements in rail car design and was successful in filing at least 11 patents in his own name. It is estimated that the John Stephenson Company made some 25,000 cars in the period 1876–1891 alone and an untold number over the life of the company. John Stephenson (coachbuilder) John G. Stephenson (1809 in County Armagh, Ireland - 1893 in New Rochelle, N.Y.), an American coachbuilder, invented and patented the first streetcar to run on rails in the United States. Stephenson also designed the New York and Harlem