Thursday, October 1st, 2009...12:53 am
Saturn Is Dead
After several months of speculation that Roger Penske would be Saturn’s Savior, he has decided that taking over a brand that is damaged beyond repair is something even he does not want to tackle.
Am I surprised? A bit. I thought Roger was going to give it a shot.
Everyone will blame this on the unnamed manufacturer, but the real blame for the failure will ultimately be the retailers themselves.
The retailers that remain are so cash strapped that many are months behind in paying for things they need for day to day operations. Roger was in need of retailers who were going to be able to step up and spend some much needed money on advertising, facilities, and personel. Unfortunately, the retailers just don’t have that kind of money. In better times, they could have borrowed but the economy is keeping that from happening.
Am I sad that Saturn is dead? I am. I spent 17 years of my career with Saturn. I am sorry they have not had the support from the Mother Ship that they needed. Shame on GM for letting this happen.
There will be a bunch of great people out there looking for jobs now. I wish them the best.
I guess the question now is: Is all my Saturn stuff worth anything????
Here is a link to an article in the Detroit Free Press: Saturn Deal Collapses!
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