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Old 05-04-2009, 05:50 PM   #1
wifeofcore
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Default Roger Penske Interested in Acquiring Saturn

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Roger Penske Interested in Acquiring Saturn

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Dow Jones has just named billionaire Roger Penske as a potential buyer for Saturn. Many may recognize this name from NASCAR. In NASCAR, Penske owns a fleet of Dodge race cars employing popular drivers such as Kurt Busch and David Stremme. However, his experience in the automotive industry is much more extensive than just racing.

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Old 05-04-2009, 05:58 PM   #2
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Default Re: Roger Penske Interested in Acquiring Saturn

Wow, I've never seen Mrs. Charlie post here before! Incredible!! Living proof that Hokies actually do get married.

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Old 05-04-2009, 06:01 PM   #3
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Default Re: Roger Penske Interested in Acquiring Saturn

"Penske owns a fleet of Ford race cars" ummm that should read Dodge race cars

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Old 05-04-2009, 06:13 PM   #4
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Default Re: Roger Penske Interested in Acquiring Saturn

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"Penske owns a fleet of Ford race cars" ummm that should read Dodge race cars
Oopsy! Thanks for catching that error.

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Old 05-04-2009, 06:20 PM   #5
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Default Re: Roger Penske Interested in Acquiring Saturn

Penske also brought smart here

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Old 05-04-2009, 06:43 PM   #6
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Default Re: Roger Penske Interested in Acquiring Saturn

Now that is interesting news. Penske could start out by expanding on his already large used car businesses (used cars are now far hotter sales wise than new) and expand gradually and carefully into new car sales when and if he finds a quality supplier. He may even have the $$$ in hand to actually pull it off.

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Old 05-04-2009, 06:53 PM   #7
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Default Re: Roger Penske Interested in Acquiring Saturn

Now, if Roger Penske buys Saturn....that would be a good thing to see. At least Penske has a longer time in the automotive industry then Black Oak LLC and Telesto...

I would actually perfer to see a sale of Saturn to Penske then Black Oak. Penske is KNOWN in the automotive industry...moreso than some private equity firm.

The whole Black Oak/Telesto thing seems too shady to me to begin with anyway.

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Old 05-04-2009, 07:01 PM   #8
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Default Re: Roger Penske Interested in Acquiring Saturn

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Originally Posted by wolfman View Post
Now that is interesting news. Penske could start out by expanding on his already large used car businesses (used cars are now far hotter sales wise than new) and expand gradually and carefully into new car sales when and if he finds a quality supplier. He may even have the $$$ in hand to actually pull it off.
You could have Bill Gates money and still go kaput if your money hemorrhages the way GM's has. Saturn, under its present business model, has never been a profit center from a strictly fiscal sense. Where they made money was by lowering the CAFE numbers to permit the sales of SPUTEs that have huge profit margins. How they will turn a profit without the CAFE derived profits is beyond me. Nonetheless, Penske is the best potential of the bad alternatives if you ask me.

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Old 05-04-2009, 07:17 PM   #9
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Default Re: Roger Penske Interested in Acquiring Saturn

The plot is thickening.

Selling Saturn to Roger Penske wouldn't be such a bad thing. His reputation as a major player in the automotive industry precedes him.


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Old 05-04-2009, 08:07 PM   #10
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Default Re: Roger Penske Interested in Acquiring Saturn

Best news that I have read for a long time.
I would hate to see Saturn going to India, or China.

john

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Old 05-04-2009, 08:33 PM   #11
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Default Re: Roger Penske Interested in Acquiring Saturn

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Originally Posted by mr green View Post
Best news that I have read for a long time.
I would hate to see Saturn going to India, or China.

john
Penske still would have to get product from somewhere.

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Old 05-04-2009, 10:30 PM   #12
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Default Re: Roger Penske Interested in Acquiring Saturn

He (Penske) already has at least one...

Interesting where the headquarters are. IIRC Smart has, or is about to, begin production in Canada..Already sounds very Saturn like in many ways...

Drive the streets of Paris, Rome, Barcelona or London and you'll see the smart fortwo has become more than just fuel efficient transportation - it has become the "it" car in many countries throughout the world. In fact, we could say that the over one million smart fortwos sold in 36 other countries are now a worldwide statement on innovation, intelligence, functionality and the simple joy of driving.

Now the United States has joined the party. In January 2008 smart arrived to the States leaving its exhibit space at the Museum of Modern Art in New York City (it is one of only six cars in the world to achieve this distinction and the only one still in production and on sale today).

Preparations for the smart fortwo began in the early 1990's with a Joint Venture between Mercedes-Benz and Swatch, the makers of Swatch watches known for their wide array of colorful designs. Nicolas Hayek, the inventor of the Swatch watch brought his ideas for an "ultra-urban" car to Mercedes-Benz.

* smart remains a vital member of Mercedes-Benz Cars, a Daimler AG Company.

* smart USA, a division of Penske Automotive Group [NYSE:PAG], is the exclusive distributor for smart in the United States and Puerto Rico. smart USA is headquartered in Bloomfield Hills, Michigan.

Mercedes-Benz took on this engineering challenge with the outcome of one of the most innovative cars ever introduced.

Full development of the concept started in 1994 and the smart fortwo debuted at the Frankfurt Motor Show (IAA) in 1997. The response was fantastic. The smart fortwo garnered more print space and TV coverage than any other car at the show.

Production began in 1998 in Hambach, France. That same year, smart became a 100% owned subsidiary of Daimler-Benz AG.

The challenge of the smart fortwo design started with the approach to safety. The tridion safety cell was Mercedes-Benz's answer for a small car that can meet high safety standards. The tridion safety cell is a "hard shell" that surrounds the smart fortwo's occupants with an energy displacing system of longitudinal and transverse structural members. Then the engineering team added Electronic Stability Control (esp®) and ABS brakes to make the smart even more technologically advanced.

Other innovations like the selection of energy efficient and recyclable materials, the removable door panels (you have many options to change the color of your smart as you desire) and a high driving position for great visibility and easy entry in a small car combined to make smart a true revolution in driving style.

Since its introduction the smart product range has continued to expand and now includes a sporty cabriolet model. And the innovation continues. We're constantly pushing the envelope of automotive design to keep smart at the leading edge.

...
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Old 05-05-2009, 07:44 AM   #13
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Default Re: Roger Penske Interested in Acquiring Saturn

Roger Penske - the Captain himself - is thinking of acquiring Saturn?

As any longtime fan of Indy racing knows, Roger Penske knows how to spot and develop talented people, and how to run a business efficiently. He's also a car guy to the core. Even if a Penske-run Saturn Corporation ends up retailing rebadged foreign cars, they won't be crapboxes.

If this is for real, this could turn out to be the best Saturn-related news since 1991.

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Old 05-05-2009, 07:53 AM   #14
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Default Re: Roger Penske Interested in Acquiring Saturn

Quote:
Originally Posted by wolfman View Post
Now that is interesting news. Penske could start out by expanding on his already large used car businesses (used cars are now far hotter sales wise than new) and expand gradually and carefully into new car sales when and if he finds a quality supplier. He may even have the $$$ in hand to actually pull it off.
He owns more than just used cars. He has quite the large number of new car dealers also. I have a chat buddy that works at a Honda dealer of his in CA. Quite the large organization Penske has.

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Old 05-05-2009, 08:00 AM   #15
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Default Re: Roger Penske Interested in Acquiring Saturn

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Now, if Roger Penske buys Saturn....that would be a good thing to see. At least Penske has a longer time in the automotive industry then Black Oak LLC and Telesto...

I would actually perfer to see a sale of Saturn to Penske then Black Oak. Penske is KNOWN in the automotive industry...moreso than some private equity firm.

The whole Black Oak/Telesto thing seems too shady to me to begin with anyway.
Maybe this will shed some light for you. Black Oak is rooted not only in the auto industry to some degree but also Saturn retail operations.

http://newsok.com/city-business-want...rticle/3362161

I don't think it's shady at all and seems the predominant player in buying Saturn. Now, the question is, if they are the buyers, how much of Saturn's core values will stay intact?

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Old 05-05-2009, 09:04 AM   #16
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Default Re: Roger Penske Interested in Acquiring Saturn

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Originally Posted by ChgoBlues View Post
Maybe this will shed some light for you. Black Oak is rooted not only in the auto industry to some degree but also Saturn retail operations.

http://newsok.com/city-business-want...rticle/3362161

I don't think it's shady at all and seems the predominant player in buying Saturn. Now, the question is, if they are the buyers, how much of Saturn's core values will stay intact?
I've been reading all of the stuff about Telesto and Black Oak. My fear lies in that if Black Oak buys up Saturn, my fear is that we will see rebadged Saturns that are Tatas underneath, etc. that is outsourced crap from China or India.

If Penske buys up Saturn...at least the company name and roots will be kept here in the states...where it belongs. Point said.

Penske buying Saturn would be a better fit, as well; especially with the development of the Smart Car.

Money talks in this matter; and I think Penske has WAY deeper pockets than Black Oak/Telesto.

Regarding your comment on Black Oak "If they are the buyers, how much of Saturn's core values will stay intact?"

My thoughts: Try NONE of Saturns core values will stay intact. The fact that Saturn would become a company that outsources it's entire line of vehicles from China or India goes AGAINST what Saturn was founded upon: To be an IMPORT COMPETITOR.

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Old 05-05-2009, 09:19 AM   #17
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Default Re: Roger Penske Interested in Acquiring Saturn

Quote:
Originally Posted by ChgoBlues View Post
He owns more than just used cars. He has quite the large number of new car dealers also. I have a chat buddy that works at a Honda dealer of his in CA. Quite the large organization Penske has.
He is #2 in the US. $13,000,000,000 in revenue off only his dealerships in 2008. He runs a VERY tight ship and everyone performs or ...

Less than 5 billion behind Autonation in total revenue with 50 less dealerships but out performs them in service department revenue by 50%. That is a testament to customer retention.

I think Penske would be a great fit for Saturn!

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Old 05-05-2009, 09:26 AM   #18
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Default Re: Roger Penske Interested in Acquiring Saturn

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He is #2 in the US. $13,000,000,000 in revenue off only his dealerships in 2008. He runs a VERY tight ship and everyone performs or ...

Less than 5 billion behind Autonation in total revenue with 50 less dealerships but out performs them in service department revenue by 50%. That is a testament to customer retention.

I think Penske would be a great fit for Saturn!
Nice post.

Let's put this in perspective:

Penske had $13 Billion in Revenue off dealerships alone in 2008

Telesto/Black Oak had $785,000 in sales for 2008

Who would YOU rather have running Saturn if it's sold by GM?

Common sense here, folks. Numbers and money talks.

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Old 05-05-2009, 09:37 AM   #19
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Default Re: Roger Penske Interested in Acquiring Saturn

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Nice post.

Let's put this in perspective:

Penske had $13 Billion in Revenue off dealerships alone in 2008

Telesto/Black Oak had $785,000 in sales for 2008

Who would YOU rather have running Saturn if it's sold by GM?

Common sense here, folks. Numbers and money talks.
Need to be fair to the Telesto folks though....
The $785,000 in sales is a bit misleading. It is a HUGE company and people are looking only at one "wing". One other "wing" is the company behind the Hyundai Assurance Plan" and "Walkaway" (Hyundai Assurance on steroids for non- Hyundai dealers).
If it came down to those 2 I would pick Penske of course, but either would work.
Those people are "Car People", too. Personally, I have had enough of the "bean counters".

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Old 05-05-2009, 09:59 AM   #20
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Default Re: Roger Penske Interested in Acquiring Saturn

To us Canadians, Penske is just a name like Telesto is a name. The Smart42 has been in Canada for 5 years now. I don't know for sure but don't think Penske had a hand in bringing it to Canada.

So, while everyone rejoices at the possibility of Penske being a potential buyer, has anyone seen a statement from Penske that if they acquire Saturn, they won't sell rebadged imports?

The recession is a great opportunity for well managed companies with a sizable cash reserve to carve out parts of weakened and battered giants. But how to turn these parts profitable is the real question.

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