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GM sells Hummer to mystery buyer
CNN Money ^ | June 2, 2009 | Aaron Smith

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 ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: automakers; bankruptcy; generalmotors; gm; hummer
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To: Zakeet
What's the difference between a porcupine and a civilian Hummer?

A porcupine has pricks on the outside.

(Note: Said joke also applies to Escalades).

21 posted on 06/02/2009 5:15:00 AM PDT by Clemenza (Remember our Korean War Veterans)
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To: Zakeet

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 GM’s lost market share and prove that non-Union Americans are the most production humans on the planet.


22 posted on 06/02/2009 5:15:02 AM PDT by Last Dakotan
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To: Bringbackthedraft

Why not? Kadaffi is getting a piece of Chrysler.


23 posted on 06/02/2009 5:15:23 AM PDT by cripplecreek (The poor bastards have us surrounded.)
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To: Sacajaweau
Boy, are we being scammed. UAW sounds about right.

I KNEW it was sold to the communists!

24 posted on 06/02/2009 5:15:51 AM PDT by DocH (Official Right-Wing Extremist Veteran Seal Of Approval)
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To: Zakeet

Since the American citizens own GM; we should know who we sold Hummer to.


25 posted on 06/02/2009 5:23:29 AM PDT by freekitty (Give me back my conservative vote.)
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To: Zakeet

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.


26 posted on 06/02/2009 5:25:31 AM PDT by Eric (Palin/Jindal 2012)
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To: lonestar
How can they legally withold information from the owners—us?

Like our so called government has ever told us the truth about anything?

27 posted on 06/02/2009 5:25:41 AM PDT by unixfox (The 13th Amendment Abolished Slavery, The 16th Amendment Reinstated It !)
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To: lonestar

Future historians will look back in amazement. ‘They used to have laws’. The Constitution will be deemed Unconstitutional in short order.


28 posted on 06/02/2009 5:25:50 AM PDT by allmost
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To: Zakeet
I wonder what the scam is and why they are hiding it. Which of obama's favorites is getting all the Hummer assets and none of the liabilities at a bargain price?

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.

29 posted on 06/02/2009 5:26:24 AM PDT by TurtleUp (So this is how liberty dies - to thunderous applause!)
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To: TurtleUp

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.


30 posted on 06/02/2009 5:35:48 AM PDT by garyb
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To: garyb
You got screwed...

Of course you aren't alone...

31 posted on 06/02/2009 5:43:23 AM PDT by ejonesie22 (Mitt Romney is a more subtle version of Arlen Specter with better hair...)
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To: Zakeet

Since WE own GM, and WE sold the Hummer Division, why can’t WE know who the hell bought it from US?


32 posted on 06/02/2009 5:47:25 AM PDT by SERKIT ("Blazing Saddles" explains it all.....)
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To: Zakeet

FORD


33 posted on 06/02/2009 5:48:31 AM PDT by ryan71 (We're in deep kimchi!)
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To: Eric

Can you say “Ta ta” ?


34 posted on 06/02/2009 5:51:24 AM PDT by Eric in the Ozarks
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To: Zakeet
"So far everyone has kept their mouths shut"

"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. "
.

35 posted on 06/02/2009 5:52:42 AM PDT by capt. norm (Never underestimate the power of very stupid people in large groups.)
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To: Zakeet
Raser Technologies?
36 posted on 06/02/2009 6:00:53 AM PDT by SC DOC
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To: Hot Tabasco

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.


37 posted on 06/02/2009 6:05:35 AM PDT by AFreeBird
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To: Zakeet; big'ol_freeper; Lil'freeper; TrueKnightGalahad; blackie; Larry Lucido; Diplomat; ...
Knowing our fearless leader... it certainly is ZIL*

Don't call me... Photobucket "Shirley!"

*ZIL - The history of the ZIL

38 posted on 06/02/2009 6:06:29 AM PDT by Bender2 ("I've got a twisted sense of humor, and everything amuses me." RAH Beyond this Horizon)
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To: Zakeet

“I’m confident that Hummer will thrive globally under its new ownership,” said Troy Clarke, president of GM North America”

New name = “oBummer”?


39 posted on 06/02/2009 6:06:40 AM PDT by silverleaf ("Never forget that everything Hitler did in Germany was legal ( Martin Luther King))
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To: cripplecreek

Seriously?


40 posted on 06/02/2009 6:13:34 AM PDT by Army Air Corps (Four fried chickens and a coke)
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