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Old 05-05-2009, 11:52 AM   #1
wifeofcore
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Default Mysterious Ohio Based Investment Group Arises as a Potential Buyer

A new story entry has been added:

Mysterious Ohio Based Investment Group Arises as a Potential Buyer

Quote:
Update on May 7th: Leading negotiations for this group is Gary Marvicsin. Detroit News reports that he is employed in the auto industry.
Detroit News reports that there is a mysterious Ohio based investment group interested in acquiring Saturn. Unlike the other interested buyers, this group has developed a concept to keep the company domestically based. According to the article, the group is interested in purchasing domestically abandoned manufacturing plants to produce Saturns. Chrysler plants that are targeted to close due to bankruptcy troubles were specifically mentioned. The group wants to continue to employee UAW workers at these plants. While recognizing the high costs associated with employing union workers, such as benefits and pensions, the group believes that it is the right move for two reasons.

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Old 05-05-2009, 12:15 PM   #2
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Default Re: Mysterious Ohio Based Investment Group Arises as a Potential Buyer

sounds like a viable group that has a clue on how to do business

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Old 05-05-2009, 12:46 PM   #3
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Default Re: Mysterious Ohio Based Investment Group Arises as a Potential Buyer

Clapdaddy involved??

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Old 05-05-2009, 12:55 PM   #4
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Default Re: Mysterious Ohio Based Investment Group Arises as a Potential Buyer

"First, the UAW is essential to Saturn's formula for success: producing safe, high-quality, fuel-efficient cars."

Umm, NO!

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Old 05-05-2009, 01:20 PM   #5
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Default Re: Mysterious Ohio Based Investment Group Arises as a Potential Buyer

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Originally Posted by wolfman View Post
"First, the UAW is essential to Saturn's formula for success: producing safe, high-quality, fuel-efficient cars."

Umm, NO!
I think the article was referencing the specialized contract that Saturn and the UAW had at one point. Don't know if that is still in place or not. The article also mentions the, what 439? Saturn dealerships? When we all know that there are only about a total of 400 or so...I lost count on how many were closed.

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Old 05-05-2009, 02:14 PM   #6
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Thumbs Up Re: Mysterious Ohio Based Investment Group Arises as a Potential Buyer

Interesting development.

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Old 05-05-2009, 02:18 PM   #7
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Default Re: Mysterious Ohio Based Investment Group Arises as a Potential Buyer

Another potential buyer-du-jour.

The biggest question is not who buys Saturn. But what will they do to make money off of the investment put into Saturn. Stories range from Chinese/Indian imports to 2nd-tier Japanese auto companies to European auto companies to various investment groups.

Exciting.

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Old 05-05-2009, 03:34 PM   #8
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Default Re: Mysterious Ohio Based Investment Group Arises as a Potential Buyer

Quote:
Originally Posted by 2NDSOUT View Post
I think the article was referencing the specialized contract that Saturn and the UAW had at one point. Don't know if that is still in place or not. The article also mentions the, what 439? Saturn dealerships? When we all know that there are only about a total of 400 or so...I lost count on how many were closed.
No, that original agreement got "voted out" long before Spring Hill stopped producing Saturns. Unfortunately, it was due to power and greed by a core group in the upper parts of the UAW according to the one book I read.

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Old 05-05-2009, 03:37 PM   #9
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Default Re: Mysterious Ohio Based Investment Group Arises as a Potential Buyer

Quote:
Originally Posted by eelfliw View Post
Another potential buyer-du-jour.

The biggest question is not who buys Saturn. But what will they do to make money off of the investment put into Saturn. Stories range from Chinese/Indian imports to 2nd-tier Japanese auto companies to European auto companies to various investment groups.

Exciting.
Yep, they're coming out of the wood work now aren't they?

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Old 05-05-2009, 03:48 PM   #10
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Default Re: Mysterious Ohio Based Investment Group Arises as a Potential Buyer

Wow this is starting to get hopeful AND exciting. I have my two choices that I'm rooting for...and they don't include China or India!

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Old 05-05-2009, 04:36 PM   #11
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Default Re: Mysterious Ohio Based Investment Group Arises as a Potential Buyer

I think now at this point the news is plain and obvious. Its no longer about the death of Saturn but about who will buy it out and what they will do with it. This is getting interesting indeed.

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Old 05-05-2009, 04:36 PM   #12
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Default Re: Mysterious Ohio Based Investment Group Arises as a Potential Buyer

This article definitely makes me feel more optimistic about the sale of Saturn than all the other rumors do. Even though this is just another possibility, this is actually exciting. I favor this idea far more than the others.. As long as they keep it domestic, I will be happy.

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Old 05-05-2009, 04:59 PM   #13
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Default Re: Mysterious Ohio Based Investment Group Arises as a Potential Buyer

Interesting... They may be the group to build a US manufactured Saturn again, possibly go back to home to Spring Hill.

I have no problem with the UAW as long as the wages and benefits atay competitive and the cars are built well. The original Saturn agreement was close to this.

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Old 05-05-2009, 06:50 PM   #14
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Default Re: Mysterious Ohio Based Investment Group Arises as a Potential Buyer

Quote:
Originally Posted by marx404 View Post
I think now at this point the news is plain and obvious. Its no longer about the death of Saturn but about who will buy it out and what they will do with it. This is getting interesting indeed.
Interesting... the story unfolds ...

So our optimistic views won't be pushed around anymore .
"they" can't now say we are fabulating !

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Old 05-05-2009, 07:11 PM   #15
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Default Re: Mysterious Ohio Based Investment Group Arises as a Potential Buyer

Penske ?

The Detroit News -- Roger Penske is considering a bid for General Motors Corp.'s Saturn brand.

Penske is the highly successful head of Bloomfield Hills-based Penske Automotive Group, Inc., which operates more than 300 dealer franchises in the United States and internationally, selling 40 different brands.

The billionaire Detroit booster, who oversaw the city's Super Bowl XL preparation, has accomplished almost everything in the auto industry, from racing cars to building engines as owner of Detroit Diesel Corp. to snagging exclusive U.S. distribution rights for the iconic Smart minicar. But buying a brand and building vehicles would pose a new challenge.

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Old 05-05-2009, 08:01 PM   #16
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Default Re: Mysterious Ohio Based Investment Group Arises as a Potential Buyer

I think he thrives on challenges. And everything he is a part of seems to thrive as well.

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Old 05-05-2009, 08:19 PM   #17
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Happy Re: Mysterious Ohio Based Investment Group Arises as a Potential Buyer

You guys are usually right about most things Saturn, I hope your right about this!!!

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Old 05-05-2009, 10:35 PM   #18
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Default Re: Mysterious Ohio Based Investment Group Arises as a Potential Buyer

Quote:
Penske ?
No, this is a different group. Not Penske.

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Old 05-07-2009, 11:04 AM   #19
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Default Re: Mysterious Ohio Based Investment Group Arises as a Potential Buyer

This new lead sounds the most promising and favorable to the Saturn brand IMO. I hope it panes out.

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Old 05-08-2009, 10:08 AM   #20
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Default Re: Mysterious Ohio Based Investment Group Arises as a Potential Buyer

I'd like to see this group get the brand. It seems like the only one who wants to make cars in the US

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