This morning, The Wall Street Journal (subscription required) reported that General Motors (OTC: GMGMQ) has reached a preliminary deal to sell its Saturn distribution network to Penske Automotive Group. Penske is the second-ranked U.S. dealership group.

The Journal says that Penske will take over the brands, trademarks, service and parts operations, as well as the distribution operations related to the Saturn brand. The report also notes that Penske will make deals with other auto makers (one possibility is Renault SA) to purchase vehicles that will fill out the Saturn portfolio.

Teva Pharmaceutical Industries (NASDAQ: TEVA), the world's largest generic drug maker, yesterday announced a change in top management. George S. Barrett, Chief Executive Officer, Teva North America, Corporate Executive VP, Global Pharmaceutical Markets has resigned from the Company. William S. Marth, currently President and Chief Executive Officer of Teva USA, will replace Mr. Barrett and assume the additional role of Chief Executive Officer of Teva North America effective immediately.

Marth is no newcomer to the Israeli TEVA. He has been a key player in the launch of new drugs in recent years. He knows the organization well, and I expect business to continue as is. With a really strong pipeline for '08 and '09, yesterday's 5% drop on the news, presents an attractive entry point for investors who want to catch the generic wave and invest in the 'best of breed' company.

Aaron Katsman is the lead Portfolio Manager and Managing Director of America Israel Investment Associates, LLC. and Senior Editor of IsraelNewsletter.com. DISCLOSURE: Writer's fund has a position and owns stock in TEVA and is long the stock. He has no positions in any other stock mentioned as of 1/11/08.