END OF A BRAND - AT 5:29 P.M. ET:  This will certainly not help the employment picture in America's shrinking industrial sector.  From The New York Times:

DETROIT — General Motors said Wednesday that it now planned to close its Saturn brand after Penske Automotive abruptly called off an agreement to acquire the division.

Penske said in a statement that it could not proceed with the purchase because another manufacturer, which it did not identify, rejected plans to build vehicles that would be distributed under the Saturn brand name.

COMMENT:  Another sad day.  At one time General Motors symbolized American industry.  It was "The General."  GM, now essentially under federal control, now only has Cadillac, Buick, Chevrolet and its truck division.  Saturn was supposed to be the "independent" division, doing things in a new way.  Apparently, that didn't have much effect.  It never could develop the aura of the Japanese cars (many of which are made right here). 

I wonder whether, if we ever have a large international conflict, we will have the industrial base left to sustain the effort.  Whoever thought we'd be wondering about something like that?

September 30, 2009