Saturn stores await fate as GM ponders options

General Motors Corp. plans to spin off or phase out Saturn, cut back Pontiac and sell its Saab and Hummer lines to restructure and obtain as much as $30 billion in financing from the U.S. government. The move could cost 47,000 jobs around the world and prompted GM's Saab unit to file for creditor protection on Friday in preparation for a possible sale.

Instead of killing Saturn, GM is looking at spinning off the distribution network to dealers who could contract with other manufacturers, including GM and foreign companies, to produce cars that would be sold under the Saturn nameplate.

There are about 450 Saturn dealerships in the U.S. and Canada. Combined, they saw sales of their vehicles decline 22 percent in 2008 from 2007 and 60 percent this January from January 2008.

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