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  1. #1

    Default Legendary Roger Penske receives Medal of Freedom for his contributions. to Detroit

    This includes organizing business leaders to donate 100 new police cars and 23 ambulances to Detroit when the city really needed it. He donated $10m to save the DIA. Organizes the Detroit Grand Prix. He also saved a bunch of failing Detroit businesses such as Detroit Diesel.

    He starts his speech at 10:15. https://www.youtube.com/watch?v=gMbKzeY3PS0

    The Free Press posted an article about him two days ago. I'm surprised nothing was posted here about him yet. https://www.freep.com/story/money/bu...mp/4089136002/

  2. #2

    Default

    Someone should make a documentary about Penske’s rise from race car driver to billionaire. People usually think of Penske as owner of car dealerships and race car teams. Penske also purchased Detroit Diesel from General Motors for pennies on the dollar, made it profitable and then sold it for hundreds of millions more than he paid for it. And he did it without screwing his employees or using bankruptcy to do it. IMHO, Penske should have been the one to head up GM after bankruptcy.

  3. #3

    Default

    Quote Originally Posted by Pat001 View Post
    Someone should make a documentary about Penske’s rise from race car driver to billionaire. People usually think of Penske as owner of car dealerships and race car teams. Penske also purchased Detroit Diesel from General Motors for pennies on the dollar, made it profitable and then sold it for hundreds of millions more than he paid for it. And he did it without screwing his employees or using bankruptcy to do it. IMHO, Penske should have been the one to head up GM after bankruptcy.
    Like Lutz and Iacocca before him, car guys like Penske would hate having to run a company based on trucks & suv's.

  4. #4

    Default

    I worked for Roger Penske when he had his Chevrolet dealership in Southfield. I have several stories, all complementary in regards to him.

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