Former Saturn Plant Holds its Breath

G. Chambers Williams III from the Tennessean: GM and the government task force must agree by June 1 which of the automaker's remaining factories will close as it moves to become a smaller, more-efficient company. Spring Hill could be on the hit list, but no one will know until GM is ready to announce its newest round of plant closings, which could come as early as this week. The president of the United Auto Workers local in Spring Hill said the more than 3,000 jobs at the General Motors plant in Tennessee are in real jeopardy. United Auto Workers Local 1853 President Mike O’Rourke said that in his opinion, the future of the hundreds of jobs at the assembly plant, which now makes the Chevrolet Traverse crossover utility vehicle, rests on a "coin flip" as GM prepares to phase out as many as 16 North American plants by 2011. O'Rourke said he has been telling union members to "pray for the best but plan for the worst." He said Spring Hill could be in jeopardy because it's not as close to parts suppliers as some other GM plants.

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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.