Blair seeks to limit damage as MG Rover goes under

LONGBRIDGE (Reuters) - The government said it would offer a support package for workers at collapsed carmaker MG Rover, seeking to limit the damage from up to 5,000 job losses as it seeks re-election.

Administrators said on Friday there was no hope of selling the last major British carmaker whole and 5,000 workers would be made redundant immediately, dealing a blow to Blair's ruling Labour Party.

Administrators PricewaterhouseCoopers (PwC), appointed last week after a rescue deal with China's Shanghai Automotive Industry Corp (SAIC) collapsed, said it would 'mothball' the MG Rover plant over the next two months, effectively locking it up until buyers can be found for its assets."

[snip]

If Blair really"seeks to limit damage", he should get up on his podium, clear his throat, and say "This is what happens when a company is uncompetitive, unresponsive and basically makes crap. The job losses are unfortunate, but this is a lesson to other complacent companies who are not listening to their customers or minding their competition. If others learn from this once-proud company's pain, its passing will have been a good thing overall. That is the essence of the free market, which is the true engine of prosperity. I hope other companies such as General Motors are taking close notes."

But of course, as Vice President of Socialist International, I would not expect Blair to say anything of the sort.