"Oh crap!"
Posted on 09/30/2009 3:43:15 PM PDT by Steelfish
GM To Shut Down Saturn After Penske Ends Talks
Production agreement with another manufacturer falls through, killing deal
GM to drop Saturn after Penske ends talks
Sept. 30: General Motors Co. says it plans to shut down its Saturn brand and dealer network after talks with Penake Automotive Group fell apart.
DETROIT - General Motors Co. said Wednesday it would shut down its Saturn division after an agreement to sell it to Penske Automotive Group Inc. fell apart.
The Bloomfield, Michigan dealership headed by auto racing magnate Roger Penske walked away after it was unable to find a manufacturer to supply vehicles to it after a contract with GM runs out in 2011.
A tentative deal for Saturn was announced on June 5. Penske was to get Saturn's 371 dealers and promised to retain the 13,000 Saturn employees. The proposed price was never disclosed.
(Excerpt) Read more at msnbc.msn.com ...
No matter. Would not have bought one anyway. Nor any other Government auto, either...
Excellent news for the unions, full pay and bene’s and not having to go to work.
Aw, nuts. I love my 1996 SL1. I put almost 200,000 miles on it.
RIP Saturn...
I’m sure Obama will find a way to benefit the Unions, while screwing senior shareholders.
Does this mean the mild mannered, smooth voiced guy on the Saturn commercials will finally blow his stack?
"If you can understand this....thank the Unions!" /parody
union thugs lose their jobs, that made my day !
:)
So THIS is what was in the Penske file all these years!
Spring Hill and Thompsons Station TN will be purty sad.
Shareholders and bondholders have already been screwed.
LOL. My thoughts too.
I guess that unlike George Costanza, Saturn was not Penske material.
That’s a shame. I was hoping Penske would make something out of Saturn.
And now Saturn will share the fate of Pluto.
My son has a 1998 Saturn, runs perfectly and has never given him a problem. It was a good brand, a shame they ruined it.
Saturn was the best thing to come out of GM.
I’m very surprised.
FWIW Penske never planned to continue manufacturing the GM Saturn vehicles past their life cycle. It was strictly a marketing arrangement to sell GM supplied cars until other arrangements were in place.
I fully expected the Chinese would happily team with Penske figuring his credibility and marketing expertise would give them a top notch entry into the US market.
The stupid unions still don’t get it.
The phony squatter soiling the Whitehouse repaid his soul selling dept to them, they are of no use to him now so he could care less about them.
Their bloated union contracts are one reason that auto plants are closing since there are no concessions, not even thoughts of concessions to save the union workers their jobs.
They were played for fools and fell for “THE ONE”S” total BS lies.
Feel sorry for the workers, but not the union bosses who willl lose NOTHING.
I’ve got a 97 SC1 that just celebrated its 13th birthday.
Runs like new - 140,000 miles.
Got wrecked by an 18 wheeler on I70 in Ohio this spring.
Bought a donor car for 150 bucks and put the body panels on my chassis (easy to do).
400 dollar paint job and it looks like a new car.
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