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]

With the deal to complete the sale of the Saturn brand to Roger Penske just around the corner, the question is starting to be asked, “Can Roger Save Saturn?” There is no doubt that Roger Penske has had many challenges and successes in his day, but he may soon face the biggest challenge of all, saving the Saturn brand. In a recent article, The New York Times talks about whether or not this automotive giant can save the tarnished brand.

None of us know what the outcome will be, but if anyone has a chance of resuscitating the Saturn Brand its Roger Penske.

[Source: New York Times: 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]

Here’s an old Sports Illustrated article from 1988 that talks about Roger Penske Racing. The article also gives some insight into Roger Penske’s personality from people who’ve worked with him.

“He demands a do-or-die loyalty; his employees must be willing to walk off the bridge for him,” says Derrick Walker, Penske Racing’s general manager for nine years. “If you try to leave, or even think about it, it’s a mortal insult to him. He’ll react like, ‘Go! I’ll follow you to the door and change the locks behind you!’ ”

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[Source: Sports Illustrated, Read Entire Story]

Paul Eisenstein has written a great article that gives us a little more insight into Roger Penske’s modus operandi. The one thing that seems to be stand out the most about Roger is his desire to win. Roger Penske doesn’t like to lose at anything and that’s just what Saturn needs. For the past decade the management at GM hasn’t cared if Saturn was a winner or a loser. If the Penske-Saturn deal goes through, then in a few years I think you may finally see Saturn capture that long awaited checkered flag.

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[Source: MSNBC, Read Entire Story]

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]

Michael Vaughan from Autos.CTV.ca talks about Roger owning the Saturn Brand. He asks a very poignant question and that is - So how can Roger succeed where General Motors blew away billions? Many of us all ready know that Roger has said that Saturn will be profitable on day one.

According to Michael Vaugh this how Roger will make it happen….

Well the first point is Penske won’t have to worry about the factories that build the cars. This time around Saturn is only going to be a distributor of cars — other people’s cars. Roger and his team can now shop the world for custom-made cars from other manufacturers that he thinks will fill the bill with his adoring American public.

Roger is an American Icon that will create enthusiasm around the Saturn Brand.

Americans instantly recognize him as the serious looking, handsome guy wearing earphones in the pits as his team takes the checked flag. He’s the representation of old fashioned American virtues of hard work and team play.

Gearhead blogs since the deal was announced have been overflowing with comments like “We love Roger” and “the guy has a golden touch.”

If he pulls off the deal for Saturn, and makes it work, Penske will have caused the biggest change in how cars are sold since the dawn of the auto industry.

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[Source: CTV.tv Autos, Read Entire Story]

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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