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Old 10-07-2009, 09:53 PM   #1
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Default $250 Million Grant Could Save Saturn, 13000 Jobs

A new story entry has been added:

$250 Million Grant Could Save Saturn, 13000 Jobs

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A $250 million grant from the American Recovery and Reinvestment Act (ARRA), could easily resolve the late breaking issues that prompted the unexpected, last minute collapse of the proposed Penske Automotive Group (PAG) purchase of Saturn, according to Todd Ingersoll, Saturn's Retailer Council member.

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Old 10-07-2009, 10:03 PM   #2
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Default Re: $250 Million Grant Could Save Saturn, 13000 Jobs

I hate to be the one to say that this ain't very likely but I feel that it has to be done. After consulting my decision making aide the result is:



The 13,000 jobs will be displaced to elsewhere in the automobile market. The dealerships will become outlets for Korean makes. Life will go on. Absent agreements from suppliers, this is a dead deal.

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Old 10-07-2009, 10:05 PM   #3
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Default Re: $250 Million Grant Could Save Saturn, 13000 Jobs

It would be cool if that were to happen, but it doesn't resolve the issue Penske ran into, which is what car manufacturer would be willing to design or even just produce a rebadge car for the remaining Saturn dealers to sell and realistically how long would it take to launch?

Also, unless my math is off, 13K employees right? $250 million. That is just $1923 per employee, which is what, one bi monthly paycheck for someone making $24K per year? We also know damn well Saturn execs and other managers are not living off $24K per year.

What about dealer overhead? Advertising? Money needed for new product? Taxes?

Hell, GM burned through how many billions and it only floated them for how many months?

The math didn't make sense then and it doesn't make sense now.

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Old 10-07-2009, 10:18 PM   #4
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Default Re: $250 Million Grant Could Save Saturn, 13000 Jobs

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Also, unless my math is off, 13K employees right? $250 million. That is just $1923 per employee, which is what, one bi monthly paycheck for someone making $24K per year? We also know damn well Saturn execs and other managers are not living off $24K per year.
Actually, your math is off, by a factor of 10 (its $19230 per employee).

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Old 10-07-2009, 10:21 PM   #5
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Default Re: $250 Million Grant Could Save Saturn, 13000 Jobs

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Actually, your math is off, by a factor of 10 (its $19230 per employee).
Thank ya. I was also off on the bi weekly paycheck comment. $1900 per two weeks would be $45K and change yearly salary.

Still, my point was the amount quoted vs all the obstacles in the way doesn't add up to being able to save Saturn.

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Old 10-07-2009, 10:23 PM   #6
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Idea Re: $250 Million Grant Could Save Saturn, 13000 Jobs

Hmmm....maybe $250MM could buy the Spring Hill plant, or at least make a nice downpayment?

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Old 10-07-2009, 11:18 PM   #7
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Default Re: $250 Million Grant Could Save Saturn, 13000 Jobs

that would be nice or alteast buy the planet since saturn would be a planet

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Old 10-07-2009, 11:45 PM   #8
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Default Re: $250 Million Grant Could Save Saturn, 13000 Jobs

I am really getting whiplash...I am tired of being hopeful...then crushed...then hopeful again.

Either end Saturn to be done with it...or have GM give Saturn more time to find a new bidder.

Saturn could become such a great company...if only someone would step up and try...

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Old 10-08-2009, 12:55 AM   #9
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Default Re: $250 Million Grant Could Save Saturn, 13000 Jobs

Bring the Citroen C4.

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Old 10-08-2009, 04:56 AM   #10
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Default Re: $250 Million Grant Could Save Saturn, 13000 Jobs

$250M would run the operation for a few weeks, maybe. However, given that the obituary is already out on Saturn, it makes no sense to keeping making them, sales would be so slow as to make it pointless ... any meager revenue would not be enough to stay ahead of expenses. The $250M would only be a band-aid for a short time.

If they wanted to salvage a production line and some leftover Saturn parts inventory, they should re-badge them as Buicks and called the "Special Editions" ... at least people might buy more of them

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Old 10-08-2009, 06:15 AM   #11
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Default Re: $250 Million Grant Could Save Saturn, 13000 Jobs

Great..but what does this do for the retailers who have closed their doors since last week and will be closing?

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Old 10-08-2009, 07:29 AM   #12
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Default Re: $250 Million Grant Could Save Saturn, 13000 Jobs

Does Penske Automotive Group know about this? Assuming they haven't completely walked away from the attempt...

This still doesn't solve the sourcing issue.

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Old 10-08-2009, 07:35 AM   #13
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Default Re: $250 Million Grant Could Save Saturn, 13000 Jobs

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Originally Posted by Todd View Post
Hmmm....maybe $250MM could buy the Spring Hill plant, or at least make a nice downpayment?
Nice thought, but Spring Hill is a Chevy Plant now.

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Old 10-08-2009, 09:24 AM   #14
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Default Re: $250 Million Grant Could Save Saturn, 13000 Jobs

I wonder if Saturn has a "DNR" order? How many times can we shock it back to life, only to have it fade out again? Pull the plug. Let it die with a little dignity.


"It's dead, Jim."

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Old 10-08-2009, 09:28 AM   #15
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Default Re: $250 Million Grant Could Save Saturn, 13000 Jobs

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I wonder if Saturn has a "DNR" order? How many times can we shock it back to life, only to have it fade out again? Pull the plug. Let it die with a little dignity.
To quote a voice from the past:

Quote:
Closing time

You don't have to go home but you can't stay here

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Old 10-08-2009, 09:32 AM   #16
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Default Re: $250 Million Grant Could Save Saturn, 13000 Jobs

if gm really wanted to sell saturn they would have given penske a little more time or gone to one of the others who were bidding for saturn. im starting to think that they were having second thoughts about selling it. too many wanted to buy saturn to just let it go

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Old 10-08-2009, 09:44 AM   #17
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Default Re: $250 Million Grant Could Save Saturn, 13000 Jobs

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Nice thought, but Spring Hill is a Chevy Plant now.
GM will be closing Spring Hill soon. There's been news reports since June 1, 2009 mentioning this. GM manufactures the ECOTEC L61 engine in Tonawanda, NY and Kaiserslautern, Germany.

They're building the Traverse with the other Lambda SUV's in Lansing Delta Township Assembly plant near Lansing, Michigan.

The Cobalt is being replaced by the Cruze which uses smaller different engine. The rumored 1.4L turbo, and 1.8L ECOTEC's will be it's power plants. The 1.4L is supposed to get 40mpg on the highway.

Unfortunately GM chose to use a cheap rear suspension using a beam axle.

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Old 10-08-2009, 10:14 AM   #18
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Default Re: $250 Million Grant Could Save Saturn, 13000 Jobs

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GM will be closing Spring Hill soon. There's been news reports since June 1, 2009 mentioning this. GM manufactures the ECOTEC L61 engine in Tonawanda, NY and Kaiserslautern, Germany.

They're building the Traverse with the other Lambda SUV's in Lansing Delta Township Assembly plant near Lansing, Michigan.

The Cobalt is being replaced by the Cruze which uses smaller different engine. The rumored 1.4L turbo, and 1.8L ECOTEC's will be it's power plants. The 1.4L is supposed to get 40mpg on the highway.

Unfortunately GM chose to use a cheap rear suspension using a beam axle.
Just like Toyota, Nissan, Kia and Hyundai....those idiots.

Before you diss the twist-beam rear axle, check out the videos of the Cobalt SS/TC on the 'Ring in Germany. Doesn't seem to hamper track prowess at all, but as for bar stool racing and locker room pissing matches, it doesn't impress. Funny, I thought it mattered at the track. Ability is more important than pedigree.

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Old 10-08-2009, 10:32 AM   #19
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Default Re: $250 Million Grant Could Save Saturn, 13000 Jobs

I think what happened, was that GM diluted the Saturn brand by getting rid of Saturn design and manufacturing and resorting to badge engineering. When the end came, there was nothing but a name to sell, and that name was not worth what it was before.

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Old 10-08-2009, 12:21 PM   #20
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Default Re: $250 Million Grant Could Save Saturn, 13000 Jobs

What should be done is, Make Saturn a Electric/Hybrid only car/suv/pickup divison of GM.

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