One's Observations

A collection of some things I observe along the way.

Retrieving...
9/30/2009

GM Selling Saturn

I thought GM was rescued by our Federal Government? I guess not.

"General Motors Co. will close Saturn, the brand created 24 years ago to mirror Japan-based companies’ car making, after Penske Automotive Group Inc. said it has broken off discussions to buy the unit."

"Penske’s exit forces GM to adjust its post-bankruptcy plan for cutting its number of U.S. brands in half. It intended to sell the Saturn, Hummer and Saab marques and close Pontiac. The largest U.S. automaker will retain Chevrolet, Cadillac, Buick and GMC." (Bloomberg Article)

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