Posted on 06/02/2009 4:50:49 AM PDT by Zakeet
General Motors Corp. said Tuesday that it has signed a deal to sell its Hummer truck unit, just one day after filing for bankruptcy.
But GM would not identify the buyer nor name a price, saying only that the deal would close by the end of September.
"I'm confident that Hummer will thrive globally under its new ownership," said Troy Clarke, president of GM North America, in a press release. "And for GM, this sale continues to accelerate the reinvention of GM into a leaner, more focused, and more cost-competitive automaker."
As part of the deal, some GM plants will continue to build the Hummer brand for the new owner, at least for a while. The company said its Shreveport, La. plant will keep building Hummers for the new owner until at least 2010.
(Excerpt) Read more at money.cnn.com ...
A porcupine has pricks on the outside.
(Note: Said joke also applies to Escalades).
My only hope in all this is that Saturn would be spun off to the dealers and set up as an independent non-union US auto company. In 15 years it would have reclaimed much of GMs lost market share and prove that non-Union Americans are the most production humans on the planet.
Why not? Kadaffi is getting a piece of Chrysler.
I KNEW it was sold to the communists!
Since the American citizens own GM; we should know who we sold Hummer to.
I’m thinking it could be one of those rich guys out of Dubai. They love the Hummer vehicles, and it could be a natural fit.
Like our so called government has ever told us the truth about anything?
Future historians will look back in amazement. ‘They used to have laws’. The Constitution will be deemed Unconstitutional in short order.
In any case, I won't be buying any GM brands, whether or not they are sold to other companies. I want GM not only merely dead. I want GM most sincerely dead. 100% dead, no exceptions, no forgiveness. I am boycotting Hummer, GM, Chrysler, Chevrolet, Saturn, and all the other Bailout nameplates forever. I hope that even with what was probably a crooked deal, the buyer loses big on Hummer.
I’m sorry to have to have held my name back so long. It was me, I bought Hummer. I had $22.75 left over from last week’s allowance, so I went to Detroit and made GM an offer. Much to my surprise, I had the highest bid.
I hope I didn’t pay too much.
Of course you aren't alone...
Since WE own GM, and WE sold the Hummer Division, why can’t WE know who the hell bought it from US?
FORD
Can you say “Ta ta” ?
"Let me tell you a little story about a man named Sh!
Sh! even before you start.
That was a pre-emptive "sh!"
Now, I have a whole bag of "sh!" with your name on it. ".
But according to the article; GM was going to continue to build them until 2010. That says to me, that whomever bought it, needs time to tool up to build them wherever. Where ever that is not here.
*ZIL - The history of the ZIL
“I’m confident that Hummer will thrive globally under its new ownership,” said Troy Clarke, president of GM North America”
New name = “oBummer”?
Seriously?
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