Chuck
04-15-2009, 11:51 PM
http://www.cleanmpg.com/forums/../photos/data/2/AmericanFlag.jpg Black Oak wanted to acquire Saturn through a new company called Telesto Ventures, which would operate Saturn as a distribution network selling vehicles such as "clean diesels, electric and high-mileage cars,"
(http://www.latimes.com/business/la-fi-saturn16-2009apr16,0,6734026.story)
http://www.cleanmpg.com/photos/data/501/1999_saturn.jpgKen Bensinger - LA Times - April 16, 2009
It's a shame that Saturn started with so much promise and now in doubt. --Ed.
An unheralded private equity firm in Oklahoma City emerged Wednesday as the only known suitor for General Motor Corp.'s Saturn brand, promising to keep the marque and its dealership network alive.
The firm, Black Oak Partners, said that if it acquires the brand, it would continue to distribute GM-made vehicles through 2011 and would also source vehicles from foreign manufacturers to badge as Saturns.
The move is the first public bid for Saturn or the other two brands GM has put up for sale, Hummer and Saab. GM has said it needs to sell or shut down those lines to help it cut costs as part of its federally supervised restructuring.
The Detroit automaker, which has received $13.4 billion in federal loans, has been given until June 1 to show the Obama administration it is viable as a stand-alone company.... http://www.latimes.com/business/la-fi-saturn16-2009apr16,0,6734026.story
(http://www.latimes.com/business/la-fi-saturn16-2009apr16,0,6734026.story)
http://www.cleanmpg.com/photos/data/501/1999_saturn.jpgKen Bensinger - LA Times - April 16, 2009
It's a shame that Saturn started with so much promise and now in doubt. --Ed.
An unheralded private equity firm in Oklahoma City emerged Wednesday as the only known suitor for General Motor Corp.'s Saturn brand, promising to keep the marque and its dealership network alive.
The firm, Black Oak Partners, said that if it acquires the brand, it would continue to distribute GM-made vehicles through 2011 and would also source vehicles from foreign manufacturers to badge as Saturns.
The move is the first public bid for Saturn or the other two brands GM has put up for sale, Hummer and Saab. GM has said it needs to sell or shut down those lines to help it cut costs as part of its federally supervised restructuring.
The Detroit automaker, which has received $13.4 billion in federal loans, has been given until June 1 to show the Obama administration it is viable as a stand-alone company.... http://www.latimes.com/business/la-fi-saturn16-2009apr16,0,6734026.story