Agreed.....I mentioned that above, that 100-200 million is chump change, by corporate standards. I don't think Penske is offering what the company is really worth.....although, of course, technically, it is bankrupt. If GM (or the government) doesn't get a better offer, though, it looks like Penske is going to get himself a bargain.

 

In reading more, it sounds like Penske cares more about the dealer network and less about the Saturn cars. Either way he's getting Saturn for cheap, but considering the history of huge losses, the value isn't there. The intention seems to be to provide a dealer network to bring in lessor known auto imports to hopefully fill some lucrative niches.

 

That history of large Saturn losses, though, was mostly due to the General's mismanagement, especially after 1999-2000, when GM started gradually doing away with the successful, reliable, plastic-body S-class compacts and started substituting rebadged GM and Opel designs instead. The company was never the same after that. That mismanagement apparantly will now be history. Hopefully (?) , Penske will have enough sense to realize what originally made Saturn great in the 1990's and act accordingly....but I fear that one of his first moves will be to slap the same, cheap, 2/24 warranty on them (even for drivetrains) that he does on the Smart cars.