Difference between revisions of "Automobile Association"
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The <i>Evening Standard (London)</i> report that: | The <i>Evening Standard (London)</i> report that: | ||
:'[[CVC Capital Partners]] and [[Permira]] bought the AA for Pounds 1.75 billion from British Gas group [[Centrica]] in July 2004. Under chairman Sir [[Trevor Chinn]] and chief executive [[Tim Parker]] for the last three years, the AA has grown its business. But it recently attracted the anger of the GMB trade union after it announced cost-cutting measures that will see it sack 3500 people - almost a third of its staff. It accused CVC and Permira of asset-stripping after reports they intended to gear up the AA with an extra Pounds 500 million of debt and pay themselves a sub-stantial special dividend. Neither Permira nor CVC would comment...'<ref><i>The Evening Standard</i> (London). 'AA may be on road to a sale after collision with union'. 19th March 2007.</ref> | :'[[CVC Capital Partners]] and [[Permira]] bought the AA for Pounds 1.75 billion from British Gas group [[Centrica]] in July 2004. Under chairman Sir [[Trevor Chinn]] and chief executive [[Tim Parker]] for the last three years, the AA has grown its business. But it recently attracted the anger of the GMB trade union after it announced cost-cutting measures that will see it sack 3500 people - almost a third of its staff. It accused CVC and Permira of asset-stripping after reports they intended to gear up the AA with an extra Pounds 500 million of debt and pay themselves a sub-stantial special dividend. Neither Permira nor CVC would comment...'<ref><i>The Evening Standard</i> (London). 'AA may be on road to a sale after collision with union'. 19th March 2007.</ref> | ||
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| + | ==Lobbying== | ||
| + | * [[Andrew Strong]] who is involved with the [[Automobile Association]] is also a member of the suposedly 'independent body' the [[Motorists Forum]]<ref> Motorists Forum [http://www.cfit.gov.uk/mf/reports/ar2007/index.htm#ab Annual Report 2006/2007] Accessed 16th August 2008</ref>. | ||
==References== | ==References== | ||
<references/> | <references/> | ||
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| + | [[Category:Automobile Industry]] | ||
Latest revision as of 14:10, 16 August 2008
The Evening Standard (London) report that:
- 'CVC Capital Partners and Permira bought the AA for Pounds 1.75 billion from British Gas group Centrica in July 2004. Under chairman Sir Trevor Chinn and chief executive Tim Parker for the last three years, the AA has grown its business. But it recently attracted the anger of the GMB trade union after it announced cost-cutting measures that will see it sack 3500 people - almost a third of its staff. It accused CVC and Permira of asset-stripping after reports they intended to gear up the AA with an extra Pounds 500 million of debt and pay themselves a sub-stantial special dividend. Neither Permira nor CVC would comment...'[1]
Lobbying
- Andrew Strong who is involved with the Automobile Association is also a member of the suposedly 'independent body' the Motorists Forum[2].
References
- ↑ The Evening Standard (London). 'AA may be on road to a sale after collision with union'. 19th March 2007.
- ↑ Motorists Forum Annual Report 2006/2007 Accessed 16th August 2008
