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 C. Beale in the early 1970s and was honorably discharged. Beale attended the University of California, Riverside, earning a bachelor's degree in political science in 1975, using resources provided by the G.I. Bill. Beale interned for US Senator John V. Tunney while in college, assisting in the negotiation of the Bilingual Courts Act. He later simultaneously earned a Master of Public Administration from Princeton University and a law degree from New York University. Beale was employed with a law firm consisting of three partners in Lake City, Minnesota for four years prior to his work with the EPA. During his time with