Telesto Ventures' bid for GM's Saturn division thick with Chrysler talent
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]
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Reader Comments (Page 1 of 1)
chineyz954 6:34PM (5/29/2009)
Chrysler and Talent are oxymorons.
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Will 6:39PM (5/29/2009)
that comment carries no weight when Tom Gale was cited as an example of the talent
Jonathan S 6:40PM (5/29/2009)
Lee Iacocca
Jared 7:20PM (5/29/2009)
"Chrylser talent" is, indeed, an oxymoron. They ran Chrylser into the ground, but now they're going to take Saturn, which has no engineering team, no manufacturing team, no factories, and no distributors, just dealers, and turn it into a successful auto company? Yeah, right. And they'll do that with OPM -- other people's money. I wonder who the suckers are who are financing this fiasco.
JerryB 7:21PM (5/29/2009)
Ah, crap. You beat me to it! :-)
the knife 7:40PM (5/29/2009)
eh, no your comment makes you a moron. a little bit of research could help you though.
oZ 9:15AM (5/30/2009)
The guys on this list didn't run Chrysler into the ground. They were in there when Chrysler was still rising in the 90s, before the Germans were on the scene.
Judy Zik 6:48PM (5/29/2009)
There was some incredible talent at Chrysler once. Look at the Intrepid, Viper and other 90's products.
I am actually getting more excited about the new Saturn. With independent ownership we may actually get to see it become what it was meant to be. A different kind of car, a different kind of car company. They already have an incredible dealer organization. All they have been missing all this time has been the product. Hopefully they return to their roots of plastic body panels and cheap economical vehicles.
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Len_A 8:32AM (5/30/2009)
Zero chance for the plastic body panels to return. You have to see what this is - this is the sale of a car brand and a network of dealers under that brand. No other assets. No engineering. No manufacturing plants. Zip. Should these investors pull this off, what you're going to see is badge-engineered versions of other automakers vehicles.
tekd 5:09PM (5/30/2009)
I don't often agree with your comments, but Chrysler really did products people wanted to buy back then. I remember driving and riding in an Intrepid back then and it was a pretty competitive large sedan. The handling wasn't fantastic compared to it's aggressive looks but that's mostly because it was a large car. And the Viper speaks for itself.
Too bad they went from that to making crap like the Sebring under Daimler-not all Daimler's fault though since there were definitely some questionable design decisions made at Auburn Hills.
chineyz954 7:00PM (5/29/2009)
I dunno will.Lets see he designed the PT Cruiser,1991 Dodge Neon concept car,and the viper like Chrysler 300 Hemi C concept. He isnt on my list of great designers.
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Will 7:21PM (5/29/2009)
I hated the PT Cruiser, but it brought a lot of buzz to Chrysler. It may have had some legs if the dealers weren't gouging people for it, that combined with the fact that the factory couldn't supply the masses of tasteless consumers who wanted one and by the time they could, the allure had worn off. The Neon, along with the Intrepid that Judy mentioned, was one of the pioneer vehicles in Chrysler's cab-forward design, a design that again, brought a lot of publicity and helped bring about a 90's revival to Pentastar. I can't comment on the 300 off the top of my head. Don't forget the Prowler and Viper as well, Gale is credited with those, as you can see when you click on his name in the above article. But, your sentiment is understandable. In the past few years, save for the Challenger, Chrysler has really been phoning it in.
BigWill 7:24PM (5/29/2009)
I was wondering when the Black Oak group would pop up.
Interesting group of people from Chrysler's most recent heyday, several of whom probably wouldn't mind being the ones to rub The New Chrysler's nose in it.
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the knife 7:39PM (5/29/2009)
...no talent? i like how alot you jack asses claim to be car guys but only about 1 or 2 companies...broaden your knowledge before you post. Chrylser indeed had talent in the 90's and was the envy (believe it, seriously) in the auto industry during that time when all eyes turned to see them at NAIAS. do your research, Tom Gale will go down as one of the last centuries best designers.
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Will 7:43PM (5/29/2009)
I think people are confusing "the talent" with the executives...the two are rarely the same person.
dmullins78 11:10PM (5/29/2009)
Now that Magna has the design and engineering of Opel all they need is a US sales channel like Saturn. GM laid the foundation of making Saturn a premium brand.
After the mess Cerebrus had with Chrysler, I'm surprised another investment group would try getting into the automotive industry.
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atl 12:47AM (5/30/2009)
Magna is not an investment group + these guys actually know about the car business!!!!!!!!
Frank 8:22PM (5/30/2009)
Tom Gale = the best CEO Chrysler never had
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