Video: Penske Sees Owners as Greatest Strength of Saturn Brand

From WISH TV Channel 8: Penske has decided to buy Saturn and that could be good move for Indiana. "The greatest strength of Saturn is the 3.5 million customers that they have in the market today," said Penske. Matt Will, an Associate Dean of the University of Indianapolis School of Business said Penske is getting one of GM'S best brands without the baggage. "I think it's pure genius on the part of Roger Penske," said Will. "He doesn't have to buy the cars from General Motors and that's really where the problems are in the manufacturing process." While GM will be making Saturns for Penske for two years, beyond that, Penske can force GM to compete with other auto manufactures to keep the business. That, said Matt Will, will keep costs down and quality high. While Penske wouldn't say what he's paying for Saturn, experts estimate it's between $100 million and $200 million. "He's getting a steal. And at the end of the day he may very well be the largest automobile company in the country and he probably won't manufacture one car," said Will.

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Rescue Bid for Detroit Collapses in Senate, GM May Put Saturn Into Bankruptcy Protection


From the Wall Street Journal: A frantic, last-ditch attempt to forge a relief package for the auto industry collapsed in the U.S. Senate, dealing a giant blow to the immediate hopes of the Big Three. Senate Majority Leader Harry Reid of Nevada suggested the $14 billion wouldn't be revisited until January.