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16 Suitors For Saturn, GM Says: Day After Filing For Bankruptcy, Automaker Also Sells Hummer Brand
CBS News / The Associated Press ^ | June 2, 2009

Posted on 06/02/2009 9:43:44 AM PDT by 2ndDivisionVet

General Motors Corp. says it has 16 buyers interested in purchasing its Saturn brand, while three parties are interested in the Swedish Saab brand.

Company CFO Ray Young told reporters and industry analysts on a conference call that GM is continuing to pursue manufacturing agreements with a new Saturn buyer.

Bridge loan discussions with the Swedish government are progressing, Young said.

He and CEO Fritz Henderson are hosting the call.

Earlier, GM had said it has a tentative deal to sell its Hummer brand. Young said the company is not prepared to identify the buyer because both sides are still working through sale documents.

(Excerpt) Read more at cbsnews.com ...


TOPICS: Business/Economy; Culture/Society; Extended News; Government
KEYWORDS: agenda; automakers; bho44; economy; generalmotors; gm; hummer; obama; unemployment
I don't know about you, but I'll never buy another new Chrysler or GM product.
1 posted on 06/02/2009 9:43:44 AM PDT by 2ndDivisionVet
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To: 2ndDivisionVet

The Vultures have landed to eat the carcass


2 posted on 06/02/2009 9:44:22 AM PDT by GeronL (http://libertyfic.proboards.com <----go there now, NOW)
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To: 2ndDivisionVet

I’m sad. I’ve been a Saturn devotee since back in the day.


3 posted on 06/02/2009 9:44:56 AM PDT by Xenalyte (Don't threaten me with a good time.)
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To: Xenalyte

Sad? You should be glad that some other company will be able to continue the brand without government intervention.


4 posted on 06/02/2009 9:46:35 AM PDT by SeaHawkFan
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To: Xenalyte

One sits in the driveway now...


5 posted on 06/02/2009 9:46:54 AM PDT by EBH (I am not your comrade, nor sheeple, nor surf or slave; but a Freeman.)
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To: 2ndDivisionVet

I drive a Ford - and will continue to drive Fords until they are nationalized as well. At that point, I will buy japanese or ride my motorcycle full time. I will not own another GM or Chrysler product....red


6 posted on 06/02/2009 9:48:06 AM PDT by rednek ("Light travels faster than sound. This is why some people appear bright until you hear them speak.")
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To: Xenalyte

I could see Subaru or Toyota buying Saturn. I can also see Mitsubishi buying Pontiac. They would pretty much corner the 18-29 market.


7 posted on 06/02/2009 9:48:17 AM PDT by rintense (Senior Marketing / IT / UX architect unemployed and looking for work. Freepmail me if you have leads)
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To: 2ndDivisionVet; All

GM should have done this from the beginning..


8 posted on 06/02/2009 9:49:03 AM PDT by KevinDavis (http://governorpalin4president.blogspot.com/)
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To: Xenalyte

If I’m understanding this correctly, Saturn will NOT be a GM company once it’s sold off. If the new owners continue to produce the same quality of vehicle, it is still a viable option for you as a car buyer, isn’t it? I sort of see where the “new GM” may be selling off the brands which had the best prospects? Saturn has some pretty neat cars.


9 posted on 06/02/2009 9:49:55 AM PDT by Emmett McCarthy
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Obama is NOT buying.... he is selling... selling american companies to other countries. He is destroying America’s wealth.


10 posted on 06/02/2009 9:52:27 AM PDT by VastRWCon (www.AuctionBump.com - free ebay auction advertising)
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To: 2ndDivisionVet
I don't know about you, but I'll never buy another new Chrysler or GM product.

To do so would just encourage this government to take over more private businesses.

11 posted on 06/02/2009 9:52:53 AM PDT by Dixie Yooper (Ephesians 6:11)
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To: Xenalyte

Me too. We’ve bought 3 in the past 15 years - my husband’s job entails a lot of driving so he’s abused 2 pretty well. Love them mostly for the purchase experience - the price is the price is the price - and their subsequent customer service. I HATE dealing with salesmen.


12 posted on 06/02/2009 9:54:59 AM PDT by agrace
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To: rintense; All

I think you are right.. Something GM should have done sometime ago..


13 posted on 06/02/2009 9:55:11 AM PDT by KevinDavis (http://governorpalin4president.blogspot.com/)
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To: rintense

I thought Pontiac was slated to be killed off as a brand. It would be neat if Mitsu were to buy it. Maybe then Mitsu could start putting engines in their cars that don’t burn oil after only 60,000 miles. And you’re right that between the Lancer Evo and the Trans Am, Mitsu would pretty much own the 18-29 market.


14 posted on 06/02/2009 9:56:15 AM PDT by Little Pig (Is it time for "Cowboys and Islamofanatics" yet?)
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To: Xenalyte
I’m sad. I’ve been a Saturn devotee since back in the day.

This could be good news. Saturn will no longer be a GM product.
15 posted on 06/02/2009 9:56:46 AM PDT by Sig Sauer P220 (The great object is that every man be armed. - Patrick Henry)
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To: Xenalyte

Hang in there.

I’ve still got my 97 coupe with 140,000 miles and going strong and the plastic body looking nearly new.

Under new leadership and outside of govt control, Saturn may well prosper in the future.

Any Sat fans who aren’t aware, great owners forum at saturnfans.com


16 posted on 06/02/2009 9:56:53 AM PDT by nascarnation
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To: rintense
Do you know who is looking at buying Saturn?

Car Racing, and Business Titan with the Midas Touch..

Roger Penske....


17 posted on 06/02/2009 9:59:15 AM PDT by taildragger (Palin / Mulally 2012)
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To: Emmett McCarthy

I think Magna International (Canada - Stronach family & friends of Clinton) are buying Opel. A lot of the Saturn stuff is Opel.

I just saw a Pontiac G8 Exp (drool). Made by Aussies at Holden (GM Australia) and not UAW scum.

The GTO is the Holden Montaro and the G8 is the 4 door version. The G8 Exp in white I just saw was really nice. It is the first one I ever saw. Sad about GM but I hate UAW scum.


18 posted on 06/02/2009 10:00:25 AM PDT by Frantzie
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To: 2ndDivisionVet
I don't know about you, but I'll never buy another new Chrysler or GM product.

Ditto.
19 posted on 06/02/2009 10:02:42 AM PDT by CountryBumpkin ("We are a nation that has a Government, not the other way around" RWR)
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To: nascarnation

Does Saturn support one of those carbureted V-8, rear wheel drive, 4-speed manual, solid rear wheel axled, funny cars?


20 posted on 06/02/2009 10:03:27 AM PDT by Paladin2 (Big Ears + Big Spending --> BigEarMarx, the man behind TOTUS)
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To: Frantzie
Yes Magna has been a wantabee for eon's they finally get to build their car. Holden as far as I know has not been addressed in the bankruptcy. Have you heard?

Also Watch AU and NZ.

These countries are going gaseous for their cars and T.Boone has nothing to do with it :-)....

21 posted on 06/02/2009 10:04:49 AM PDT by taildragger (Palin / Mulally 2012)
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To: 2ndDivisionVet
I'll buy Ford, Japanese, or European, but not GM/Chrysler.

If obama makes it impossible for me to buy an acceptable new car, I'll buy used, no matter how old.

If obama makes a used car impossible, I'll buy another non-GM motor vehicle:

If obama makes that impossible, I'll buy something without a motor until we get rid of the socialist thug in our White House:

Or I may get something domestic that emits greenhouse gases and other organic materials from the tailpipe but is not made by UAW or Government Motors:

I will not buy from GM. obama may bow to foreign kings, but I will not bow to obama or to any socialist.

22 posted on 06/02/2009 10:05:06 AM PDT by TurtleUp (So this is how liberty dies - to thunderous applause!)
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To: KevinDavis
Subaru makes the most sense for Saturn since they don't have many models but have a very loyal customer base- which is pretty much just like Saturn. Subaru could also leverage the hybrid technology Saturn has.

The only appealing thing for Toyota in Saturn is customer base. And maybe the Sky. Toyota flopped with their sports coupe a few years ago. I'd like to see a cross between the VUE and the Highlander, then eliminate both previous models. The Aura, which is a fine car, could replace the Corolla. The Saturn Outlook is a big seller where I live but I'm not sure Toyota would want another SUV in their lineup.

Subaru just makes sense.

23 posted on 06/02/2009 10:05:21 AM PDT by rintense (Senior Marketing / IT / UX architect unemployed and looking for work. Freepmail me if you have leads)
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To: KevinDavis
GM should have done this from the beginning.

Agree. A normal bankruptcy w/o government interference would have forced GM to sell some branks and skinny down the rest. That would have been the best result for the U.S. auto industry.

24 posted on 06/02/2009 10:05:42 AM PDT by Loyal Buckeye
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To: taildragger

Interesting.


25 posted on 06/02/2009 10:05:59 AM PDT by rintense (Senior Marketing / IT / UX architect unemployed and looking for work. Freepmail me if you have leads)
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To: 2ndDivisionVet

I think this is pretty ironic. Back when GM had the chance, and had an effective electric car on the streets of California, (the EV-1) they chose to scrap (literally) the line and buy the Hummer brand. Given what we know now, isn’t it just possible that things would’ve been much different last year when we had $4+ gasoline if GM had been the leader in electric vehicle technology? Would they be bankrupt now? Probably not.

Lack of vision killed GM. And the UAW. Just sayin...


26 posted on 06/02/2009 10:07:16 AM PDT by erkyl (We hang the petty thieves and appoint the great ones to public office --Aesop (~550 BC))
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To: Paladin2

unfortunately no, and probably never will

luckily there are plenty around from an older era for us diehards


27 posted on 06/02/2009 10:09:34 AM PDT by nascarnation
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To: rintense
Talked about it live on the Paul W. SMith Radio Show about a week ago. He ws up front, but it was so preliminary he gave no details.

What is not known was he was the chosen one at one point to be CEO at Chrysler in the late 80's or early 90's and he turned it down....

28 posted on 06/02/2009 10:09:42 AM PDT by taildragger (Palin / Mulally 2012)
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To: rintense

I read this morning that what really sealed the deal for this new Hummer owner was the zero percent down for 60 months. A similar deal is availble for Saturn, but you have act fast!


29 posted on 06/02/2009 10:09:58 AM PDT by Made In The USA (BO stinks.)
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To: nascarnation
Well, when I wuz a kid, my across the street neighbor was a Champion Spark Plug salesman and he used to screen the company NASCAR films in his garage for the local kids.

Fireball Roberts should be spinning, given that Pontiac is OUT.

30 posted on 06/02/2009 10:13:06 AM PDT by Paladin2 (Big Ears + Big Spending --> BigEarMarx, the man behind TOTUS)
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To: 2ndDivisionVet

If 16 different people are interested in Saturn it should say to GM ,that they should probably keep it.

Nothing like selling off your little car and keeping the big ones when Obama boy has issued new cafe standards.

No wonder they are going broke.


31 posted on 06/02/2009 10:14:22 AM PDT by Venturer
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To: Paladin2

I suspect he is.

Unfortunately the US auto companies became social institutions dedicated to the health and welfare of Democratic union members rather than robust competitors in the world auto market.


32 posted on 06/02/2009 10:15:35 AM PDT by nascarnation
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To: Xenalyte

We have a Saturn, and love the little beast, and will buy another if it’s new owners are a non-UAW shop.


33 posted on 06/02/2009 10:15:44 AM PDT by SoDak (Molon Labe)
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To: 2ndDivisionVet

Rush has said that GM sold Hummer to China...


34 posted on 06/02/2009 10:16:02 AM PDT by Boonie
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To: TurtleUp

LOL, great effort at parsing with photos!


35 posted on 06/02/2009 10:16:08 AM PDT by Paladin2 (Big Ears + Big Spending --> BigEarMarx, the man behind TOTUS)
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To: CountryBumpkin
Same here. I've had 5 Chevy's and drive a Saturn. I plan to make Ford will be my next car unless they, too, go feed at the trough.
36 posted on 06/02/2009 10:18:02 AM PDT by JustSurrounded
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To: nascarnation

37 posted on 06/02/2009 10:21:08 AM PDT by Paladin2 (Big Ears + Big Spending --> BigEarMarx, the man behind TOTUS)
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To: Paladin2

Solid rear view mirror mount.


38 posted on 06/02/2009 10:23:12 AM PDT by Paladin2 (Big Ears + Big Spending --> BigEarMarx, the man behind TOTUS)
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To: TurtleUp
Harleys are pretty. They are also very expensive to purchase and maintain. I opted for a Yamaha/Star Roadliner. Half the price. Better performance. Inexpensive to maintain. I recently learned that Toyota owns 52% of Yamaha, so it has a pretty solid company behind it has well. Apparently, Yamaha has been the engine maker for Toyota for many years. It simply made sense to take a majority ownership in a key supplier.
39 posted on 06/02/2009 10:23:34 AM PDT by Myrddin
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To: SeaHawkFan

“without government intervention.”

Wanna bet?


40 posted on 06/02/2009 10:24:48 AM PDT by gathersnomoss (General George Patton had it right.)
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To: 2ndDivisionVet

Looks like the Chinese are going to get their entree into the American market after all.


41 posted on 06/02/2009 10:27:19 AM PDT by Antoninus (Queer is boring.)
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To: SeaHawkFan
Sad? You should be glad that some other company will be able to continue the brand without government intervention.

Probably Shanghai Peoples' Motor Works.
42 posted on 06/02/2009 10:28:07 AM PDT by Antoninus (Queer is boring.)
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To: Xenalyte; Peanut Gallery
I’m sad. I’ve been a Saturn devotee since back in the day.

My wife on I are on numbers 2(Relay) and 4(Outlook) now. Number 1(SL2) was outgrown, and Number 3(Outlook) was destroyed by an accident.

Love 'em. Curious to see who the buyer might be.

43 posted on 06/02/2009 10:28:55 AM PDT by Professional Engineer ("A republic if you can keep it" responded Franklin. Sorry Dr. Franklin)
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To: Venturer

My 95 Saturn SL2 was getting 35+ MPG in 96. Have a 02 SL2 now getting 27 MPG in city driving. Also have the best model Saturn ever made - 2007 Saturn Aura XR.

PS. Have had 5 Saturn’s in past 14 years. Two driver in family also


44 posted on 06/02/2009 10:34:43 AM PDT by supermop (Somebody has to clean up the mess he will leave)
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To: nascarnation

When I wuz a kid, my next door neighbor was an engineer at CALSPAN and the chief timer and scorer at the US GP in Watkins Glen. Guess that it’s not all that surprising that I’ve been interested (and more) in the auto industry as an adult. GM going bankrupt sucks. That 0be owns it now is even worse.


45 posted on 06/02/2009 10:35:25 AM PDT by Paladin2 (Big Ears + Big Spending --> BigEarMarx, the man behind TOTUS)
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To: nascarnation

http://www.calspan.com/


46 posted on 06/02/2009 10:39:05 AM PDT by Paladin2 (Big Ears + Big Spending --> BigEarMarx, the man behind TOTUS)
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To: Paladin2

http://www.calspan.com/history.htm


47 posted on 06/02/2009 10:46:18 AM PDT by Paladin2 (Big Ears + Big Spending --> BigEarMarx, the man behind TOTUS)
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To: nascarnation
Buy a copy of Millikan and Millikan.

http://www.amazon.co.uk/Race-Vehicle-Dynamics-William-Milliken/dp/1560915269

48 posted on 06/02/2009 10:56:32 AM PDT by Paladin2 (Big Ears + Big Spending --> BigEarMarx, the man behind TOTUS)
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To: 2ndDivisionVet

It’s starting to look like when the govt. made the phone company break up in to about 30 companies.
Money money money money but did the service get any better?


49 posted on 06/02/2009 12:16:19 PM PDT by Joe Boucher
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To: Paladin2

http://www.bentleypublishers.com/images/features/GEMK/bentley_gemk_new.product.announcement.pdf


50 posted on 06/02/2009 1:06:19 PM PDT by Paladin2 (Big Ears + Big Spending --> BigEarMarx, the man behind TOTUS)
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