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Capitalism, And Roger Penske, To The Rescue
Townhall.com ^ | June 7, 2009 | Austin Hill

Posted on 06/07/2009 8:41:43 AM PDT by Kaslin

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To: Kaslin
I suspect that President Obama knows nothing about it at all.

Please, does this even need to be mentioned? Obama has never in his entire life produced a nickel's worth of value. Every job he has ever held has been parasitic. He is unfit to run a lemonade stand, and everyone who ever has run any productive enterprise knows it.

41 posted on 06/07/2009 9:32:48 AM PDT by ccmay (Too much Law; not enough Order.)
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To: Kaslin

I would buy cars from Roger.


42 posted on 06/07/2009 9:35:56 AM PDT by bmwcyle (Hey GOP follow Dick Cheney's lead)
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To: Red Dog #1
I suspect an enormous factor weighing for Penske’s plans not to manufacture the cars is avoiding substantial long term pension cost.

A smart move by Roger.

43 posted on 06/07/2009 9:36:53 AM PDT by TYVets
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To: 11th Commandment

Could be he’s trying to get out from under UAW contracts.

Saturn already does some of it’s work in Japan...Have a relative who worked for them there.


44 posted on 06/07/2009 9:36:56 AM PDT by hoosiermama (Hey hey! Ho ho! Where's your Birth Certificate/ We've a right to know!)
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To: Kaslin

I am hoping Hummer is acquired by a more favorable entity OTHER than the Chinese though it appears that even that prospect may not go through.

I would like to hear a possibility of a company like PACCAR buying the name, they have the expertise with over the road trucks like Peterbilt. And that would be a boost for future Hummer sales especially if they can get the price down a bit as I am attracted to owning an H2 but I cannot reason buying one when it costs almost as much as a Corvette.


45 posted on 06/07/2009 9:38:26 AM PDT by Eye of Unk ("If there must be trouble, let it be in my day, that my child may have peace." T. Paine)
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To: Kaslin
Chrysler executives are fearful of Obama’s coercive efforts to “force” a Chrysler-Fiat merger, believing that Fiat is in even worse financial health than Chrysler itself.

Isn't FIAT one of the Church of Rome's big holdings? Hmmmm?

46 posted on 06/07/2009 9:41:29 AM PDT by Don Corleone ("Oil the gun..eat the cannolis. Take it to the Mattress.")
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To: org.whodat
FROM THE ARTICLE:

Roger Penske isn’t asking for a “bailout.” He isn’t even asking for special government-subsidized financing for his purchase. He wants Saturn, a product line deemed to be one of the least attractive on the G.M. roster, because he believes that he can make money with it, and he’s willing to risk his money and his good reputation to make it happen. “This (Saturn) is still a good business” Penske stated, “and we’re going to make it better.” In the process, it is believed that Penske’s acquisition will in the short-run save some 13,000 American jobs, and eventually create more.

47 posted on 06/07/2009 9:42:11 AM PDT by hoosiermama (Hey hey! Ho ho! Where's your Birth Certificate/ We've a right to know!)
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To: 11th Commandment; 70th Division; Wolfie
So he is going to use the Saturn platform to importer foreign cars. Just how does that help us?

If "US" means U.S. Workers, let me name a few: US sales people, US auto mechanics, US investors who have millions in Saturn Franchises, US Clerical workers in Dealerships. In my world all of these US citizens are just as valuable as people who build cars; in the US government's view, they are second class to UAW workers.

It also helps us tremendously that Penske will not be using taxpayer money to finance the new operation. From the article:

Roger Penske isn’t asking for a “bailout.” He isn’t even asking for special government-subsidized financing for his purchase. He wants Saturn, a product line deemed to be one of the least attractive on the G.M. roster, because he believes that he can make money with it, and he’s willing to risk his money and his good reputation to make it happen. . . .

For some, it’s hard to believe. But all this benefit is being derived- - for Penske, for his associates, for the can industry and for the global economy - without the expenditure of more of our tax dollars, and without President Obama coercing it. It’s happening at the hands of free people, freely choosing to take risks, to innovate, to create, and to produce.

In my book, that is an enormous benefit for all Americans, even if Penske does import foreign-made cars.

48 posted on 06/07/2009 9:42:41 AM PDT by Logophile
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To: Kaslin

With Penske in charge, Saturn will have a better chance of survival than the rest of General Motors.


49 posted on 06/07/2009 9:43:15 AM PDT by reg45 (Be calm everyone. The idiot children are in charge!)
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To: Kaslin

I loved my Vue.


50 posted on 06/07/2009 9:44:46 AM PDT by junta (The Left must be divided and conquered one cult at a time.)
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To: TYVets

As long as the Baraqqis are in charge, the future of American vehicle manufacturing is in China.
They already have a huge cost advantage which will only get bigger after Cap N Tax is initiated.
And we can’t impose trade restrictions because they hold so much of the Federal debt.


51 posted on 06/07/2009 9:46:09 AM PDT by nascarnation
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To: Walleye_Walter

Yep, one of the head members of the family is a zero population guy.


52 posted on 06/07/2009 9:48:40 AM PDT by freekitty (Give me back my conservative vote.)
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To: Kaslin

I would buy one IF Penske was building them instead this is just a walmart of the auto business..


53 posted on 06/07/2009 9:50:31 AM PDT by Cheetahcat (Zero the Wright kind of Racist! We are in a state of War with Democrats)
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To: Kaslin

Dissatisfied Saturn owners are genuinely hard to find.


54 posted on 06/07/2009 9:52:21 AM PDT by BraveMan
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To: junta

We also need a competitive taxing arrangement of not allowing the offshore competitors the advantage of their import/export regulations of rebates and VAT. Second if the unions remain in US manufacturing their legacy costs are upon them much like the building trades to sink or swim. And Saturn needs to build a crossover/pickup for the soon to be growing hobby farmer/suburban gardner/small business demographic.


55 posted on 06/07/2009 9:52:44 AM PDT by junta (The Left must be divided and conquered one cult at a time.)
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To: taildragger; prismsinc

Palin/Bolton would also work...


56 posted on 06/07/2009 10:00:25 AM PDT by null and void (We are now in day 139 of our national holiday from reality.)
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To: TYVets
Indeed, the UAW’s continued looting of GM are to it's members short and long term detriment. A cynical person might think they're more primarily concerned about something other than their members well being...
57 posted on 06/07/2009 10:06:32 AM PDT by Red Dog #1
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To: freekitty

Are you referring to Alan R. Mulally, President and CEO?


58 posted on 06/07/2009 10:08:58 AM PDT by Walleye_Walter
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To: BraveMan
Dissatisfied Saturn owners are genuinely hard to find.

After owning three Honda Accords (78, 86, 98--all new, all 4cylinder), I bought a 2007 Saturn Aura XR and absolutely LOVE this car. It's the best car I've ever owned. It's quiet and fun to drive. When you push to go pedal, it GOES all the way across the power band! 35K+ miles and not a single problem.

Extreme value compared to Camry and Accord. Time will tell if that continues to be the case. I keep cars until they die so depreciation isn't an issue with me.

59 posted on 06/07/2009 10:15:45 AM PDT by Bug
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To: junta

RE: Pickup

Someone needs to build one with woman in mind....My feet won’t reach the pedal in Ford or Chevy.
I buy Nissan (Which was built in Tenn) for that reason....4 wheel drive, standard transmission and small enough I can handle it.


60 posted on 06/07/2009 10:17:01 AM PDT by hoosiermama (Hey hey! Ho ho! Where's your Birth Certificate/ We've a right to know!)
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