2007 Saturn Outlook drivetrain & axles problems

Wife called me and said her car wouldn't move - belt problem? Had heard clattering and high pitched whine earlier and yellow check engine light came on. Was able to start car and shift it into reverse and drive. We decided to drive it to the dealer - champion GMC buick in brighton. Going up a hill near maltby intermediate school, the car began to stall and slow. Blue smoke came out of the engine. Stopped at top of hill. Got out and inspected engine again...acrid burning smell.

Driving on hwy 377 and the car started to go in and out of gear. The engine was running fine but the transmission would not engage and we ended up pulling over in traffic as to not cause an accident. We had to have it towed to the dealership in grandbury tx where they said the transmission had to be rebuilt. The issue is the wave plate and it is quite often documented when you search saturn issues on the internet. The car has 78,000 miles on it and is outside of the 5 year warranty from GM.