Sky Plant Spared Worst of Shutdown

From the News Journal: Joe Riccio, shop chairman for United Auto Workers Local 435, said workers at the Boxwood Road factory were upset that they first learned about the shutdowns from news reports. "We were worried that there was going to be a long, drawn-out shutdown over this thing," Riccio said. GM has already laid off hundreds of workers and cut production to a single shift at the facility, where the Pontiac Solstice, Saturn Sky and Opel GT roadsters are built. In the most recent cuts, 90 workers were laid off earlier this month as plant managers slowed production to accommodate slumping demand. During the shutdown, the factory's hourly workers will be on temporary layoff and eligible for state unemployment benefits, said GM spokesman John Raut. The automaker will pay workers supplemental wages to make their total income, including unemployment benefits, equal to 85 percent of their normal take-home pay.

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Telesto Reiterates Interest to Save Saturn

Telesto Ventures, an investor group that includes private equity firm Black Oak Partners and a number of Saturn retailers, reiterated its intent to acquire Saturn Distribution Corporation (SDC) in its ongoing effort to save more than 440 US and Canadian Saturn retailers and preserve an iconic American brand. The group originally put forth its intentions to GM on April 9th.