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FLASH.(NEWS)
PENSKE ORBITS SATURN
Roger Penske is considering a bid for General Motors' Saturn brand. Penske, whose Penske Automotive Group dealership chain distributes Smart cars in the United States, is one of two possible buyers for the beleaguered brand. The second is the investor group Telesto Ventures, which wants to acquire Saturn's dealerships and provide dealers with vehicles from GM through 2011. After that, most vehicles would come from overseas manufacturers.
GM wants to sell Saturn this year, along with underperforming brands Saab and Hummer.
FERRARI IN THE BLACK
Thanks in part to sales of the new California, Italian sports-car maker Ferrari bucked the global automotive downturn, posting a $72 million profit in the first quarter of 2009.
Ferrari posted the gain despite a slip in sales and revenue, thanks to "vigorous sales of the 460-hp retractable hardtop California and strong sales in Asia.
The California ...
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