Retailer Recounts Details of Sudden Saturn Closure

Barbara Wieland from the Lansing State Journal: Sherrill Freeborough is finding there is life after Saturn. Freeborough was one of 340 Saturn dealers left hanging when GM's deal to sell the division to Penske Automotive Group collapsed September 30. GM quickly halted Saturn production - including dropping the Outlook crossover made at its Lansing Delta Township assembly plant - and began shutting down the brand. "It was sickening, disheartening," said the normally upbeat, optimistic Freeborough. "It took some time for the reality of it to sink in." Freeborough said the sudden death of Saturn took dealers, salespeople and even Saturn executives by surprise. "(Saturn General Manager) Jill Lajdziak was working on her press release about Saturn joining Penske when word came through," Freeborough said. "Saturn workers had gotten their Penske business cards earlier that day. It sure crushed a lot of dealers' hearts."

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Former Chrysler Executives Involved in Bidder Efforts to Save Saturn

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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."