From Tim Higgins, Detroit Free Press - It looks like an announcement could come as early as Thursday in regards to the Penske Saturn deal closing.

Some of the signs pointing to the deal closing soon:
Jill Lajdziak, Saturn’s general manager, has asked for an early retirement package from GM, an indication that she is leaving, a person familiar with her decision said.

Saturn dealers have been asked to sign new franchise agreements with Penske.

Joe Serra, who owns two Saturn dealerships, believes everything is on track. “It looks like they are probably on the two-yard line,” Serra said.

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[Source: Detroit Free Press: Read Entire Article]

Robert Snell from The Detroit News. Saturn dealers nationwide have received new sales and service agreements from Roger Penske, a sign the auto icon is close to finalizing a deal for the castoff General Motors Co. brand. The two-year agreements, which are subject to completion of a deal for Saturn, were sent to about 340 U.S. dealers, who had until Sept. 11 to sign and return them. The agreements have one-year automatic renewals if dealers meet certain conditions.

There are no major changes from dealer agreements under GM and details such as sales objectives are not mentioned. But the agreements last for two years, a key difference from the GM agreements, which were open-ended, dealers said.

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[Source: The Detroit News, Read Entire Article]

From Paul A. Eisenstein, MSNBC - While Penske is a careful strategist, he is not one to shy away from a new venture once he makes up his mind. He keeps a cadre of driven lieutenants around him, and even when they’re out of sight, they know to keep the phone close at hand, says a veteran automotive executive, now managing one of Penske’s companies.

“He’s very team-oriented and likes to listen and then take fast action,” adds Lajdziak, who says she will leave GM to stay with Saturn if asked by Penske.

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[Source: MSNBC]

WASHINGTON — GM is recalling 44,451 2008 Saturn Vue vehicles because the doors may not latch when closed, which “could result in an unbelted occupant falling out of the vehicle,” according to the National Highway Traffic Safety Administration.

In its recalls summary of the problem, NHTSA says that if an unbelted occupant falls out of the vehicle, it could cause “increased risk of injury.”

The recall involves Vue vehicles with body-color outside door handles. Saturn dealers will replace the outside door handles with chrome door handles for free. The recall is expected to begin on or before Aug. 18. Owners may contact Saturn at 800-972-8876.

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[Source: Edmunds Inside Line, Read Entire Story]

Roger Penske recently was interviewed by Detroit’s Big AM Station WJR 760. Mr. Penske talked about the future of the Saturn Brand and gave us a glimpse of the direction he would like to take the brand.

Roger Penske’s Interview on Detroit’s Big AM WJR 760

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Clark Howard talks about Saturn's Future

Consumer advocate, Clark Howard talks about Saturn’s new lease on life. Clark feels positive about Saturn’s future under the leadership of Roger Penske.

Listen to the Show

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Exclusive CNBC Interview of Roger Penske and Jill Jill Lajdziak.

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It look likes Saturn will live on as an independent car company. There are still a lot of unknowns on the direction Saturn will take, but I think you can be pretty confident that great things are going to happen under the leadership Roger Penske.

Press Release

Saturn and Penske: Two Iconic Teams Poised to Make History Again Transaction would save more than 13,000 jobs; preserves renowned brand and retail network

DETROIT (June 5, 2009) — General Motors Corp. and Penske Automotive Group today confirmed details of a proposed transaction under which Penske would acquire the Saturn brand. If completed, the deal would save more than 350 dealerships and 13,000 jobs at Saturn and its retailers in the United States, and would preserve the customer-focused Saturn brand.

The proposed transaction is part of GM’s rebuilding efforts outlined in the viability plan that was submitted to the U.S. government earlier this year. Under the terms in the memorandum of understanding, Penske would obtain the rights to the brand as well as certain other Saturn assets. GM would continue production, on a contract basis, of the Saturn Aura, Vue and Outlook.

“This is the combination of two iconic teams: Saturn and Penske,” said Saturn general manager Jill Lajdziak. “GM had the vision to create Saturn and has the desire to see it succeed in the future.”

“Saturn has a passionate customer base and outstanding dealer network,” said Roger Penske, chairman of Penske Automotive Group. “For nearly 20 years Saturn has focused on treating the customer right. We share that philosophy, and we want to build on those strengths.” Saturn began selling cars in 1990 and has sold more than 4 million vehicles. More than 80 percent of those vehicles are still in operation, according to data from R.L. Polk. Saturn has regularly scored among the industry leaders for non-luxury brands in customer satisfaction surveys.

“There has been a groundswell of support for Saturn, with our retailers and owners urging us to save the brand,” said Lajdziak. “We heard their call loud and clear, and it inspired us as we worked to secure Saturn’s future.”
The transaction is expected to close in the third quarter of this year and is subject to customary closing conditions and regulatory approvals. Financial terms of the agreement will not be disclosed at this time.

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