I noticed that Bill Lovejoy is a director at Penske. This guy is the one of the biggest crooks ever out of Detroit and helped to usher in the corrupt and incompetent management at GM. Lovejoy was the guy at GM that claimed sales for phantam Cadillacs in the 1990's. He wanted to claim top position in the luxory car market by cookong the books. He was caught in the lie (by Ford motor) and sent to GM-SPO as punishment. At SPO(service parts) he set up cozy deals with packaging suppliers (i.e. Security Packaging of Flint Michigan)to overpay for pre-made cartons under the guise of a phony patent. He stole millions from GM stockholders with this scam.
Never buy the stock of a company with shady managers. Sell Sell! Sell!
You posted an article from 2001? Couldn't find one of Lovejoy's old cub scout badges?
Seriously, this guy is a snake. He set up non-competetive single source purchasing contracts with packaging suppliers. The grateful supplier then invests in one of Lovejoy's business schemes. This is your basic money laundering plan. He should be in prison, not on the board of PAG.