Initial Co-Branding from Pending Penske Acquisition Pumps Saturn Retailers

Steve McKee from Business Week: The moment Roger Penske announced his planned acquisition of the Saturn brand from GM, Saturn dealerships around the country initiated a spontaneous and organic co-branding campaign, erecting banners and billboards to celebrate the alliance. Saturn of Wichita's advertising proudly proclaimed: "Finally, a car guy owns a car company." Scott Davies, owner of the dealership, explained the resulting traffic increase by saying: "People want to buy from someone they like. A lot of customers won't buy a car from GM, but they will buy a car from Roger Penske." That's why Davies — and many other dealers like him — were so eager to associate Saturn with Penske. It was an odd and unintentional (at least from GM's perspective) co-branding effort, but it paid off.

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Press Release: GM Presents U.S. Government Updated Plan for a Viable, Sustainable Company

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GM today presented the United States Department of Treasury with an updated plan that boldly responds to the weaker global auto market conditions and details the company's long term viability. The plan, which provides a comprehensive review of key aspects of GM's restructuring, is the first of two status reports required by the loan agreement signed by GM and the U.S.