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 B. Stephenson Women. Faculty and staff salaries were increased significantly. John Stephenson established ties with a diverse group of notable people whom he brought to speak at Berea College, from "Roots" author Alex Haley, and Archbishop Desmond Tutu of South Africa, to the Dalai Lama. Stephenson established the Tibetan scholarship program, which supports students at Berea College from the Tibetan exile community in India. He was also a successful fundraiser; during his tenure as president, the Berea College endowment increased from $120 to $360 million. Stephenson retired in July 1994, several years after he was diagnosed with leukemia. He died suddenly after