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With the breakdown in talks with Penske Automotive Group (PAG) over acquiring Saturn, GM says it...

With the breakdown in talks with Penske Automotive Group (PAG) over acquiring Saturn, GM says it will wind down the brand and its 350-dealership network. The Penske deal would have saved more than 13,000 Saturn jobs.
Comments (11)
  • Tom Au, CFA
    , contributor
    Comments (6774) | Send Message
     
    This is good for Penske, and yet its stock goes down?
    30 Sep 2009, 05:27 PM Reply Like
  • montanamark
    , contributor
    Comments (1435) | Send Message
     
    so the guy that does saturn commercial telling everyone they are wrong - is he out of a job
    30 Sep 2009, 07:16 PM Reply Like
  • paulseglund
    , contributor
    Comments (94) | Send Message
     
    That is bad news. I thought Penske could have at least designed quality cars to keep that part of the US auto industry going. Probably does not help when you have to negotiate with the government & more jobs are gone as a result.
    30 Sep 2009, 07:43 PM Reply Like
  • TraderMark
    , contributor
    Comments (2422) | Send Message
     
    13,000 more lagging indicators.

     

    Buy stocks.
    30 Sep 2009, 07:54 PM Reply Like
  • Taxi
    , contributor
    Comments (10) | Send Message
     
    Quietly a household name, 350 dealerships and 13,000 jobs disappear. Where's the state run media?
    30 Sep 2009, 08:04 PM Reply Like
  • Carlos Lam
    , contributor
    Comments (1306) | Send Message
     
    Too bad. Saturns were good, basic cars. Mine has about 150K miles on it and yet it still runs very well. I know some Saturn owners who have put 300K on their SL models.
    30 Sep 2009, 08:36 PM Reply Like
  • Mudduckk
    , contributor
    Comments (98) | Send Message
     
    lol...lmfao

     

    mark. you are funny.

     

    On Sep 30 07:54 PM TraderMark wrote:

     

    > 13,000 more lagging indicators.
    >
    > Buy stocks.
    30 Sep 2009, 09:15 PM Reply Like
  • tunaman4u2
    , contributor
    Comments (2760) | Send Message
     
    Its so true...
    Wow, glad I didn't buy a Saturn with Cash for Clunkers

     

    On Sep 30 07:54 PM TraderMark wrote:

     

    > 13,000 more lagging indicators.
    >
    > Buy stocks.
    30 Sep 2009, 09:37 PM Reply Like
  • User 357705
    , contributor
    Comments (564) | Send Message
     
    I'll bet that autoworker hating Rick Newman will have an article soon about why this is so great!
    30 Sep 2009, 10:25 PM Reply Like
  • Sargon
    , contributor
    Comment (1) | Send Message
     
    That's gonna cost GM a bundle. Why didn't they just give it to the dealers and employees and be done with it?
    1 Oct 2009, 03:48 AM Reply Like
  • User 357705
    , contributor
    Comments (564) | Send Message
     
    FU Capitalists would rather destroy something rather than give it away.

     

    On Oct 01 03:48 AM Sargon wrote:

     

    > That's gonna cost GM a bundle. Why didn't they just give it to the
    > dealers and employees and be done with it?
    1 Oct 2009, 04:22 AM Reply Like
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