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) 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 Railroad which was formally opened on 26 November 1832. Twelve days later a horse-drawn streetcar built at Stephenson's works and named "John Mason" after the president of the railroad company, started the public service. Stephenson is therefore remembered as the creator of the tramway. Stephenson was the great-grandfather of Alan Stephenson Boyd, the first United States Secretary of