[jyl]

Penske was going to pay GM a pittance for the Saturn dealer network, brand, and spares. Reportedly about 200MM, possibly less. And GM would have been obligated to keep the Saturn plants going, not sure if they actually make any money on the cars. Now GM has to close that plant with whatever costs that involves, but they would have had to do that in 2 years anyway.

Bottomline, the deal happening or falling apart is pretty much irrelevant to GM's future profitability.

It is bad news for Saturn employees, unfortunately. The assembly workers will lose their jobs about 2 years earlier than they were going to. The dealership employees are also toast now.