Penske buys Saturn

One of the good things to come out of Gm's bankruptcy is the sale of Saturn to Roger Penske. I think that Roger Penske's talent and skill will allow Saturn to start producing cars that will rival anything that the Japanese are building. Saturn has always focused on customer service, but poor support from GM resulted in a mediocre product which had trouble competing. I feel that being owned by Penske will be a breath of fresh air for Saturn. Look for some really hot small cars to start appearing with the Saturn nameplate on them.

I think the world of Roger Penske and I know he will succeed. But I was put off with the fact that GM did not disclose the sale price of the Saturn brand. My point being, we taxpayers own General Motors, and we have a right for full disclosure.

Quote :

General Motors reached a tentative deal yesterday to sell its Saturn brand to auto racing magnate Roger Penske, a longtime business partner of the Detroit automaker.

GM did not disclose how much Penske Automotive Group, which operates more than 300 franchised dealerships, paid for the brand and assets, such as Saturn's parts inventory and retail network.

LoisLane wrote:

I think the world of Roger Penske and I know he will succeed. But I was put off with the fact that GM did not disclose the sale price of the Saturn brand. My point being, we taxpayers own General Motors, and we have a right for full disclosure.

Quote :

General Motors reached a tentative deal yesterday to sell its Saturn brand to auto racing magnate Roger Penske, a longtime business partner of the Detroit automaker.

GM did not disclose how much Penske Automotive Group, which operates more than 300 franchised dealerships, paid for the brand and assets, such as Saturn's parts inventory and retail network.

First of all, we tax payers own nothing of GM. Second, it would not be wise to disclose how much Penske paid until the deal is closed. There is still a lot of hammering out to do on this.

Face wrote:

LoisLane wrote:

I think the world of Roger Penske and I know he will succeed. But I was put off with the fact that GM did not disclose the sale price of the Saturn brand. My point being, we taxpayers own General Motors, and we have a right for full disclosure.

Quote :

General Motors reached a tentative deal yesterday to sell its Saturn brand to auto racing magnate Roger Penske, a longtime business partner of the Detroit automaker.

GM did not disclose how much Penske Automotive Group, which operates more than 300 franchised dealerships, paid for the brand and assets, such as Saturn's parts inventory and retail network.

First of all, we tax payers own nothing of GM. Second, it would not be wise to disclose how much Penske paid until the deal is closed. There is still a lot of hammering out to do on this.

We taxpayers own nothing of GM? Where did that $55 BILLION come from, the sky? Just because they filed bankruptcy, doesn't relieve them from their debts. And, what happened to all this transparency we are supposed to be getting? Way too many questions.

Nope lois, we own a company that filed bk. There is no company to own. Learn the BK laws. Their stock is at .75 per share, and am really suprised they are allowing it to be sold. THE TAX PAYERS OWN NOTHING BUT AIR.