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A bit of good news for the American car industry - 6/5/2009 3:14:48 PM

MzMia

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I just heard that the famous race car driver Roger Penske, and his Penske Automotive group will buy Saturn from GM!
That is wonderful news and will save at least 13,000 jobs and 350 dealerships.

I can't wait to see what the Penske group will do to revamp Saturn.
THIS is the type of business deal that impresses me.
I would love to see hundreds more in the position to actually help turn things around,stand up and do so. Way to go Roger Penske, you have my respect!

http://money.cnn.com/2009/06/05/news/companies/saturn_penske/?postversion=2009060511

< Message edited by MzMia -- 6/5/2009 3:27:58 PM >

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RE: A bit of good news for the American car industry - 6/5/2009 4:38:42 PM

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I have a 2003 Saturn Vue with almost 170,000 miles on it. Only problem I have had is it is built with the VTi transmission which has a slight problem sometimes. Is the only American made car that I have been happy with. I will not buy another though, because of how GM and Saturn handled the class action law suit.

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RE: A bit of good news for the American car industry - 6/5/2009 5:50:35 PM

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Mia, that's good bu it's NOT good that G.M. plans to go from 15% tyo 23% "foreign made" with OUR TAXDOLLARS!!!
What's going on with your man Obama???

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RE: A bit of good news for the American car industry - 6/5/2009 6:19:30 PM

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I don't think it means a thing. Penske said that cars will be built here for 18 months to 2 years. Then it's anyones guess where they will build them. Maybe in Mexico right next door to the new Chrysler engine plant also being built with our tax dollars. He sees an opportunity to make money. Nothing more, nothing less..

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RE: A bit of good news for the American car industry - 6/5/2009 6:35:21 PM

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Isn't that what the free market is about servant......should he have bought the line simply for altruistic purposes?

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RE: A bit of good news for the American car industry - 6/5/2009 6:37:24 PM

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quote:

ORIGINAL: MzMia

I just heard that the famous race car driver Roger Penske, and his Penske Automotive group will buy Saturn from GM!
That is wonderful news and will save at least 13,000 jobs and 350 dealerships.

I can't wait to see what the Penske group will do to revamp Saturn.
THIS is the type of business deal that impresses me.
I would love to see hundreds more in the position to actually help turn things around,stand up and do so. Way to go Roger Penske, you have my respect!

http://money.cnn.com/2009/06/05/news/companies/saturn_penske/?postversion=2009060511

Hold your enthusiasm....

It's a business.

(in reply to MzMia)

RE: A bit of good news for the American car industry - 6/5/2009 6:42:28 PM

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I'm just stating a fact. The Left does seem to be a little hypocriticle on the issue of jobs going over seas though. Is it suddenly ok now that a Democrat is president. ?

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RE: A bit of good news for the American car industry - 6/5/2009 6:45:44 PM

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All of a sudden the usual proponents of an unfettered free market....or appalled by "business" decisions.What am I missing here?
Yes Penske Motors hopes to make money here.they are still keeping a good number of workers drawing a paycheck rather than an unemployment check.I agree with the lovely MzMia....Three cheers for Roger Penske!!!

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If we want things to stay as they are,things will have to change...Tancredi from "the Leopard"

Forget Guns-----Ban the pools

Funny stuff....https://www.youtube.com/watch?v=eNwFf991d-4

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RE: A bit of good news for the American car industry - 6/5/2009 6:51:51 PM

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I guess you would feel the same way towards any other business that moved off shore under the Bush Administration. Maybe you are a conservative afterall...

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RE: A bit of good news for the American car industry - 6/5/2009 6:57:16 PM

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To add one more point. Is it really an ' unfettored' free market when our tax dollars are used to move a company like Chrysler to Mexico ?

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RE: A bit of good news for the American car industry - 6/5/2009 7:24:26 PM

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quote:

ORIGINAL: slvemike4u

All of a sudden the usual proponents of an unfettered free market....or appalled by "business" decisions.What am I missing here?
Yes Penske Motors hopes to make money here.they are still keeping a good number of workers drawing a paycheck rather than an unemployment check.I agree with the lovely MzMia....Three cheers for Roger Penske!!!

Mike, I'm a proponant of a FREE market!
(CHINA excluded!!!)

< Message edited by popeye1250 -- 6/5/2009 7:28:31 PM >

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RE: A bit of good news for the American car industry - 6/5/2009 8:04:55 PM

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quote:

ORIGINAL: servantforuse

I guess you would feel the same way towards any other business that moved off shore under the Bush Administration. Maybe you are a conservative afterall...

What the fuck does that mean?

If a business....does business....offshore....wtf?

Under any administration...who gives a fuck?

If you earn the money in France....why the fuck should you have to pay taxes in Virginia?

I own 2 businesses, one of which is national, the other international.

I'm thrilled to pay US taxes on my US stuff...but why the hell should I pay US taxes on my international stuff?

You didn't buy my shit....the French did, so did the Saudi's, the Norwegian and a few others as well.

(Sorry....I don't buy all the "You're a US company, so you owe taxes on all your income" bullshit).

< Message edited by LookieNoNookie -- 6/5/2009 8:06:19 PM >

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RE: A bit of good news for the American car industry - 6/5/2009 8:18:16 PM

MzMia

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quote:

ORIGINAL: popeye1250

Mia, that's good bu it's NOT good that G.M. plans to go from 15% tyo 23% "foreign made" with OUR TAXDOLLARS!!!
What's going on with your man Obama???

Sailorman, I voted for President Obama because he was IMHO, the best candidate running for the job of U.S. President.
President Obama is not "my man", he is our President, and I hope he does the best job that he can, as most people do.

I am sure I have stated on CM, that I have serious problems with all of the jobs that have been outsourced in the last 30 years.
We have indeed fucked ourselves by allowing this to happen, and now we most certainly are paying the price.

As unemployment nears 10%, and I believe it will eventually exceed 10%, the fact that American entrepreneurs are saving 13,000 jobs for at least 2 years, is a very good thing, in my book.
If all goes well, and Saturn makes a profit, maybe the 13,000 jobs may increase to 30,000 or 50,000 jobs.
THAT is a good thing.
I might be in the market for a used car in the next year or so, and believe me I am seriously considering a Saturn.

< Message edited by MzMia -- 6/5/2009 8:22:03 PM >

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RE: A bit of good news for the American car industry - 6/5/2009 8:26:49 PM

MzMia

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quote:

ORIGINAL: slvemike4u

All of a sudden the usual proponents of an unfettered free market....or appalled by "business" decisions.What am I missing here?
Yes Penske Motors hopes to make money here.they are still keeping a good number of workers drawing a paycheck rather than an unemployment check.I agree with the lovely MzMia....Three cheers for Roger Penske!!!

Thank you for the kind words, slavemike.
IMHO, we have not even seen the bottom yet with this recession/depression.
We need jobs in the United States these days, not endless rhetorical bullshit.
Roger Penske, is making life a lot more secure for 13,000 for at least 2 years, and I
hope many more years depending on how well Saturn does.
That is 13,000 less people standing in the unemployment line.

< Message edited by MzMia -- 6/5/2009 8:27:27 PM >

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Namaste'
To Each His/Her Own
"DENIAL ain't just a river in Egypt." Mark Twain

What's your favorite fetish?
"My partner's whisper"--bloomswell

(in reply to slvemike4u)

RE: A bit of good news for the American car industry - 6/5/2009 8:34:21 PM

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quote:

ORIGINAL: MzMia

quote:

ORIGINAL: popeye1250

Mia, that's good bu it's NOT good that G.M. plans to go from 15% tyo 23% "foreign made" with OUR TAXDOLLARS!!!
What's going on with your man Obama???

Sailorman, I voted for President Obama because he was IMHO, the best candidate running for the job of U.S. President.
President Obama is not "my man", he is our President, and I hope he does the best job that he can, as most people do.

I am sure I have stated on CM, that I have serious problems with all of the jobs that have been outsourced in the last 30 years.
We have indeed fucked ourselves by allowing this to happen, and now we most certainly are paying the price.

As unemployment nears 10%, and I believe it will eventually exceed 10%, the fact that American entrepreneurs are saving 13,000 jobs for at least 2 years, is a very good thing, in my book.
If all goes well, and Saturn makes a profit, maybe the 13,000 jobs may increase to 30,000 or 50,000 jobs.
THAT is a good thing.
I might be in the market for a used car in the next year or so, and believe me I am seriously considering a Saturn.

Mia, BT, understood.
BT.

< Message edited by popeye1250 -- 6/5/2009 8:35:26 PM >

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RE: A bit of good news for the American car industry - 6/5/2009 8:46:12 PM

MzMia

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Sailorman, what does BT mean?
Is that some new slang you got from being with younger women?

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Namaste'
To Each His/Her Own
"DENIAL ain't just a river in Egypt." Mark Twain

What's your favorite fetish?
"My partner's whisper"--bloomswell

(in reply to popeye1250)

RE: A bit of good news for the American car industry - 6/6/2009 11:51:37 AM

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Can't wait for the first Saturn NASCAR...maybe even give Honda a run at Indy!.....Penske is freakishly good at what he does in business....I hope he kicks ass!!!!....but, then again I am a race fan and have rooted for Penske since he started at Indy so many years ago!

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RE: A bit of good news for the American car industry - 6/6/2009 1:23:40 PM

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This is encouraging news, thanks for posting the story Mz Mia.

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RE: A bit of good news for the American car industry - 6/6/2009 1:28:42 PM

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wow this turned into a disagreement fast eh?
I wish I had a job for the next 2 years, in the sorry state the economy is in, this is indeed great news!
Now if we can find someone to do that with the IT industry :P

< Message edited by Asherdelampyr -- 6/6/2009 1:29:10 PM >

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RE: A bit of good news for the American car industry - 6/7/2009 9:11:46 AM

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"To replace GM as the brand's manufacturer, Penske is in discussions with several global automakers. One likely replacement is Renault Samsung Motors of Korea, Automotive News reported."

This is good news?

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