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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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A great American brand lives on
1
posted on
06/02/2009 4:50:49 AM PDT
by
Zakeet
To: Zakeet
2
posted on
06/02/2009 4:52:48 AM PDT
by
allmost
To: Zakeet
Didn’t read it, just don’t tell me its going to China.
To: Bringbackthedraft
just don’t tell me its going to China.
The Saudis....
4
posted on
06/02/2009 4:54:58 AM PDT
by
Hot Tabasco
(This country isn't going to hell in a handbasket, it's riding shotgun in an Indy car....)
To: allmost
How can they legally withold information from the owners—us?
5
posted on
06/02/2009 4:57:07 AM PDT
by
lonestar
(Obama is turning Bush's "mess" into a catastrophe.)
To: Hot Tabasco
India, Tata motors? I’d be good with that.
6
posted on
06/02/2009 4:57:07 AM PDT
by
WellyP
To: Hot Tabasco
Hummers are big in the Mid-East. Could be the Iraqis.
7
posted on
06/02/2009 4:57:16 AM PDT
by
Blogger
(It is in the religion of ignorance that tyranny begins. - Ben Franklin)
To: Zakeet
8
posted on
06/02/2009 4:57:20 AM PDT
by
SIDENET
(Hubba Hubba...)
To: Zakeet
9
posted on
06/02/2009 4:59:47 AM PDT
by
mnehring
To: Bringbackthedraft
Didn’t read it, just don’t tell me its going to China. Why else would they not name the buyer?
To: Zakeet
11
posted on
06/02/2009 5:00:50 AM PDT
by
Ann Archy
(Abortion....the Human Sacrifice to the god of Convenience.)
To: lonestar
How can they legally withold information from the owners—us?
Legally? What is that?
12
posted on
06/02/2009 5:01:06 AM PDT
by
allmost
To: Hot Tabasco
I thought of that, but do they even have tooling in place to even build a car?
To: allmost
Legally? What is that? An obsolete term from our past.?
14
posted on
06/02/2009 5:03:21 AM PDT
by
lonestar
(Obama is turning Bush's "mess" into a catastrophe.)
To: Zakeet
15
posted on
06/02/2009 5:04:08 AM PDT
by
Doogle
(USAF.68-73..8th TFW Ubon Thailand..never store a threat you should have eliminated))
To: WellyP
Yeah...Tata Hummer! Now, that’s a trick!
16
posted on
06/02/2009 5:05:06 AM PDT
by
12Gauge687
(Extremism in the defense of liberty is no vice)
To: AFreeBird
but do they even have tooling in place to even build a car?
I was kidding......but to answer your question, they got enough money to pay cash for the division so they could just continue to build them here
17
posted on
06/02/2009 5:06:20 AM PDT
by
Hot Tabasco
(This country isn't going to hell in a handbasket, it's riding shotgun in an Indy car....)
To: 12Gauge687
You got the humor!
18
posted on
06/02/2009 5:11:53 AM PDT
by
WellyP
To: Doogle
Boy, are we being scammed. UAW sounds about right.
To: Zakeet
Hummer would be a better investment than US Treasury Notes for China.
20
posted on
06/02/2009 5:12:52 AM PDT
by
Oldeconomybuyer
(The problem with socialism is that you eventually run out of other people's money.)
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