Penske buys Saturn

Charles · #1 06-05-2009, 07:24 PM

Now this is the way it's supposed to work.

http://www.bloomberg.com/apps/news?p...d=a2P.Fzk2jR4g

wajobu · #2 06-05-2009, 07:50 PM

Saturn is far more successful than GM ever gave them credit for...why GM didn't save Saturn and dump so many of their other gas-hog brands is beyond me, but then again...they fought the CAFE since the 1960s.

merrylander · #3 06-06-2009, 07:24 AM

I gather that GM will continue building the Saturns as Penske has bought the dealerships. He has two years to find another builder and that all seems strange to me. What is wrong with the people building them now?

Grumpy · #4 06-06-2009, 07:58 AM

That has be a bit puzzled too. Why not Keep those people working and let penske buy the plants as well. Who knows maybe he don't want em.

Charles · #5 06-06-2009, 11:24 AM

Quote:

Originally Posted by Grumpy

That has be a bit puzzled too. Why not Keep those people working and let penske buy the plants as well. Who knows maybe he don't want em.

Well, he did manage to pony up 200 mil., not too sure just how deep his pockets are. As to keeping the people working, I'd try to subcontract the work to the existing plants first.

I suppose time will tell how he plays his hand,
Chas

hillbilly · #6 10-01-2009, 07:17 AM

We don't have TV anymore, but our radio just said Saturn is dead .. and for good ... and Saturn is now to be a thing of the past. Bet the Saturn workers here ain't happy at all. Jobs ain't easy to come by.

Charles · #7 10-01-2009, 07:31 AM

Quote:

Originally Posted by hillbilly

We don't have TV anymore, but our radio just said Saturn is dead .. and for good ... and Saturn is now to be a thing of the past. Bet the Saturn workers here ain't happy at all. Jobs ain't easy to come by.

Well, I guess we now know how he played his hand, just wonder what went wrong.

Chas

merrylander · #8 10-01-2009, 08:13 AM

Penske offered to look after the dealerships if someone could be found to build the Saturn. No one stepped up to the plate and dealerships without a car to sell does not seem viable.

Twodogs · #9 10-01-2009, 10:02 AM

13000 more jobs down the tubes today

Just think how bad it would have been without the stimulus.

OvenMaster · #10 10-01-2009, 10:19 AM

Wonder if any Chinese car companies will swoop in over the carcass...