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DETROIT — An Oklahoma City private equity firm has teamed with a group of Saturn dealers in an effort to buy the money-losing brand from General Motors (GM).
The proposal from a group led by Black Oak Partners is among several that GM has received for the brand, said GM spokesman Mike Morrissey.
I think that this is good news, at least the Saturn brand will live on, and may be built the way that it was intended on being built in the first place when it was created (fuel efficient).
Even though I hate seeing the collapse of GM, I see this as a steep in the right direction for the brand.
Could be an interesting concept with low overheads and more flexibility. Manufacturers like BMW and Porsche already contract out to companies like Steyr and Valmet to produce their cars.
What does a private equity firm know about running an auto business? How's Cerberus' buyout of Chrysler going?
From what I understood, the "company" would contract out the building of cars, and maybe even the development. The problem, or one of the main problems, Cerberus has is the union and the facilities it has to maintain.
I hope FIAT takes a controlling stake in Chrysler down the road, if they decide to take the 35% or 20% in a couple of weeks.
It's obvious that Cerberus had no idea what they were getting themselves into when they bought Chrysler. If FIAT eventually takes full control or at least controlling interest Chrysler may have a choice as a leaner company. But right know Cerberus is doing Chrysler no good.
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