Posted on 06/02/2009 10:18:06 AM PDT by Mozilla
General Motors (GMGMQ Quote) has settled on a Chinese buyer for its Hummer brand, according to CNBC.
The Sichuan Tengzhong Heavy Industrial Machinery Co., in Chengdu, is the buyer, reported CNBC.
Sichuan Tengzhong is a private company, but the deal required approval by Beijing officials, who can veto any attempt at an overseas acquisition by a Chinese company and who closely follow deals over $100 million, reported The New York Times.
In a statement Tuesday, GM said the sale is expected to close by the end of third quarter.
GM, which filed for bankruptcy protection on Monday, said the deal is expected to "secure" more than 3,000 U.S. jobs in manufacturing, engineering and at Hummer dealerships around the country. The transaction also includes plans by the investor to "aggressively fund" future Hummer product programs, GM said.
The investor or the terms of the transaction aren't being disclosed by GM under the terms of the memorandum of understanding.
(Excerpt) Read more at thestreet.com ...
They bought Hummer because they couldn’t pronounce Chrysler...
They actually thought they were getting the company that makes the little porcelain figurines.
All that lead paint...gotta use it somewhere...
I wonder how much we can get for the Statue of Liberty.
Dang, this is out of control.
Poor ladies don’t have the right mudgrabbers on those rims...
OH ok
makes me feel much better!
But still this is how their vehicles stand up to impacts.
http://www.youtube.com/watch?v=J9OlxjkInWg
i couldnt find the cam inside of it. I mean a lot of people would like having the option of the rear view mirror coming to them!
“Poor ladies don’t have the right mudgrabbers on those rims...”
There were mudgrabbers? Rims?
The second consecutive Dem President to get famous for a hummer scandal!
Wow. I missed the green snatchstrap the first glance.
Thank you for posting this, I feel a little better that the deal does not include military Humvees.
Is an American paycheck for building a small car ok, but not paycheck for building a big car?
I agree with you.
I’d much rather my grandchildren grow up in a world dominated by China than by Islam.
Islam does believe in God. China does not-they are athiest. I would take Islam any day over communism (but try to convert it to Christianity)
That's what Stalin said about Germany in 1941.
The buyer has never made vehicles, but aspires to do so.
You're so cute when you quote Limbaugh. ;-)
And that’s what we said about Stalin later that same year.
Clinton was getting the Hummer years earlier.
OK.
If I’m wrong, I apologize.
They may believe in God, but they also believe in subjugation of “unbelievers”. Thus, they share an affinity for slavery with the Chinese. Pray for the women of the world under such a regime.
Oh my. Get a grip.
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