Filed under: GM, Saturn, Earnings/Financials

The General Motors appendage known as Saturn is scheduled to be scalpeled off sooner rather than later. What happens to the mass once it has been removed from its host is still uncertain, though there are apparently groups interested in the shiny metal entrails. GM has reportedly whittled the roster of buyers it might let Saturn go to down to two or three, says a source at The Detroit News. One of the few that hasn't been culled is Telesto Ventures, which has put its auto team together.

Heavy with ex-Chrysler people, Telesto's group counts former design head Tom Gale (right) among its numbers. The ex-Auburn-Hillers bring big experience to Telesto's attempt to snag Saturn from among the small pool of bidders, and the group believes that Saturn under the leadership of Telesto's team can have a significant effect on the auto industry. It's not yet clear who's got the most attractive bid for Chrysler, and Telesto's got to compete with the likes of Roger Penske and Magna - the latter of which apparently already has the inside track on Opel.

[Source: Detroit News | Image: Jeff Kowalski/AFP/Getty]

Telesto Ventures' bid for GM's Saturn division thick with Chrysler talent originally appeared on Autoblog on Fri, 29 May 2009 17:58:00 EST. Please see our terms for use of feeds.

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