Rover; the knock on effect

[SGHOM]

direct cars, Crystal peaks, have gone bust !!
a lot of their stock was rover, & the value of the company was wiped to the tune of £800,000. so the bank pulled the plug.

A builder, who was working on his house, has just lost over £50k due to the collapse.

I supplied a few materials for this job, & have aslo been waiting for payment for several other jobs I've done for them. & yes..... you guessed it ..... the builder has chucked the towel in also.

bye bye several £000's !!

His M3 has been repossed, & he called me today to appolgies, & said he would try to sort something. but as I'm down as a creditor, he cannot legally pay me anything.

Ah well ! as one door shuts, another one slams in your face !!

[Brunty]

Sorry to hear it Derek. Of course you're right the loss of 5,000+ jobs will end up negatively effecting probably hundreds of thousands.

...and it's going to get worse

I have a friend looking to move from the Longbridge area to Redditch, what used to be a fairly active housing market with a few new developments has stopped dead in it tracks, however he's lucky, both he and his girlfriend have secure well paid jobs.

[Nick Mann]

Redditch?

Oh dear, wondered how long it would be before Longbridge started de-valueing the price of my house!!

[Brunty]

Oh dear, wondered how long it would be before Longbridge started de-valueing the price of my house!!

Don't worry mate he's a highly respected Chartered Engineer and his girlfriend (they'd be buying the place together) is a helicopter flying doctor

.....he does own a Porsche though

[Nick Mann]

Does he want a race?

If he's got lots of moeny, my neighbours house is on the market!!

[Brunty]

Does he want a race?

He might well do, he's not seen mine in action yet, it will be a big surprise to him

If he's got lots of moeny, my neighbours house is on the market!!

...and that's the crux of it, I guess he was expecting lots of money before there were 5,000 people looking to move away from Longbridge soon.

[Kieran]

Does he want a race?

If he's got lots of moeny, my neighbours house is on the market!!

What are house prices like in Redditch then Nick?

[Nick Mann]

They aren't expensive, I just think a rich neighbour would be a good idea!

The house for sale by me is a bit bigger than ours, 4 bed detatched with garage, built 18 months ago so still with lots of warranties and stuff, it has gone on the market for £245k. Not cheap, but definitely not expensive!

Within 3 or 4 miles of where I live houses can be bought for peanuts to millions, but I guess most people in the UK can say that.

[enigma]

I have heard that some Rover dealerships are practically giving cars away.......how about a £70k SV for £25k cash, or a ZTV8 for £2k?

[Kieran]

I have heard that some Rover dealerships are practically giving cars away.......how about a £70k SV for £25k cash, or a ZTV8 for £2k?

True. THere's a Rover dealer near us.... Brand New Rover 75 Conniseur (I think) sir? A steal at 13 grand!!

Just have a look on autotrader!!

[Kieran]

Here's one off of Autotrader:

2005 05 Reg MG ZT 2.0 CDTI 135+
4 Doors, Manual 5 speed, Saloon, Diesel, Variety Of Colours. CD Player, alarm, central doorlocks, front fog lights, power steering, ABS, Air conditioning, Alloy wheels, Driver airbag, Electric mirrors, Electric windows, Immobiliser, Passenger airbag, Side airbags. Over 250 Cars On Stock. MRP £20,856 Pre-Registered From £12,999.