Someone Didn’t Send Shmee150 The Memo, TVR Is Dead In A Ditch
It looks as though someone forgot to send Shmee150 the memo. The memo that states TVR, the British sports car company, is dead. OK, maybe that’s a bit too harsh. TVR is floundering and it hasn’t even begun its journey. As much as we like Shmee150 we can’t help but feel he may have been taken in by the TVR propaganda. One car in seven years is considered progress.
TVR says that production delays are due to the contract tendering process involving the Welsh government. The Welsh government owns a portion of TVR, in return, TVR got £2m and a factory. You would think that the Welsh government owns significant shareholding, right? Wrong.
TVR gave away just three percent of shares for that £2m and free factory. That means the Welsh government is a very minor shareholder, so why do they have significant sway? TVR is perfectly within its rights to end the agreement due to a lack of progress.
However, TVR is acting as though the Welsh government is a major shareholder. This whole union seems very strange indeed. TVR seems strange. But you can’t fault Shmee150 and his ever-present enthusiasm. But who’s going to break the bad news to him when he realises the TVR train will run out of fuel?