Detroit Free Press: Penske to Close Saturn Deal Wednesday, Jill Lajdziak Said to be Retiring from GM

Tim Higgins from the Detroit Free Press: Detroit businessman and booster Roger Penske is on track to close a deal to buy General Motors' Saturn division on Wednesday, the Free Press learned today. The official announcement could come Thursday. Several signs point to a final deal soon: Jill Lajdziak, Saturn's general manager, has asked for an early retirement package from GM, an indication that she is leaving, a person familiar with her decision said. Saturn dealers have been asked to sign new franchise agreements with Penske. Joe Serra, who owns two Saturn dealerships, believes everything is on track. "It looks like they are probably on the two-yard line," Serra said.

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Former Chrysler Executives Involved in Bidder Efforts to Save Saturn

Save Saturn

Last week, Penske Automotive Group disclosed to the media that it had secured former Chrysler President, Tom LaSorda, as an advisor for the deal. Similar news was unveiled yesterday by Telesto Ventures. The investor group has hired a team of advisors which are all, oddly enough, former executives at Chrysler. According to Telesto's CEO, John Pappanastos, "The Saturn brand has the opportunity to serve a significant role in transforming the auto industry. We have carefully selected a team of proven innovators who not only bring powerful thinking to the table, but also the critical execution skills that have enabled us to make significant progress in such a short amount of time."