Word: saturns
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...Apollo 8 did go. On the morning of Saturday, Dec. 21, 1968, the crew blasted off aboard the 36-story, seven-million-pound Saturn V rocket into Earth orbit. Five hours later, the crew fired the Saturn's upper stage engine and Apollo 8 peeled out for the moon...
...Resizing the business will alter the number of nameplates that the Detroit Three market and the number of dealers that sell them. GM will sell or close Saturn. Pontiac and Saab could end up joining Oldsmobile and Plymouth in the hood-ornament graveyard because the cost of supporting a brand with a small market share doesn't make sense, nor does maintaining a dealership network created for an era when Chevy and Buick could support separate distribution systems. GM plans to reduce its dealer count 27%, to 4,700. "Certainly, having seven or eight brands for 25% of the market...
...just hasn't worked." In Schrager's view, GM is a strategic failure. It can manufacture high-quality cars, but it neither makes the right kind nor markets them effectively. He'd bust the company up into three independent firms: Chevy, Buick-Pontiac-GMC and Cadillac-Saab-Saturn...
That's what Cleveland resident Mildred Maldonado realized last week when the timing belt of her 1994 Saturn broke, causing the engine to seize. She would like to borrow money for a used car. If her Saturn had died two months ago, perhaps she could have qualified. But Maldonado has a low credit score. And banks, nervous about a global credit crunch, are requiring down payments of up to 30%, according to several Cleveland dealers. Maldonado cannot afford that. So she begs relatives for rides. "I hate it, but there's nothing else I can do," says Maldonado, 49. With...
Michigan Sherrill Freeborough owns two Saturn dealerships outside Lansing. She was nervous about the proposed bailout and relieved when it failed. "My fear was they didn't have time to study it," she says. "I wanted them to make sure they knew what they were doing, and that it was the right thing to do. My fear was this was too quickly put together. I was surprised and relieved when it didn't pass." Freeborough says she's a "little more confident today that Congress will do the right thing. Now, I feel like they're going to take...