GM Sells Hummer Division

[Richard]

And so it begins...;)

Chinese Company Said to Be Buyer of Hummer
Keith Bradsher and Nick Bunkley, NYT, 2 Jun 2009

General Motors has reached a preliminary agreement for the sale of its Hummer brand of large sport utility vehicles and pickup trucks to a machinery company in western China with ambitions to become a carmaker, a person with knowledge of the Chinese government approval process said Tuesday.

The Sichuan Tengzhong Heavy Industrial Machinery Company Ltd., based in Chengdu, concluded the agreement with G.M., said the person, who insisted on anonymity.

(cont'd)

http://www.nytimes.com/2009/06/03/business/03auto.html?partner=rss&emc=rss

I can see it all now on a Saturday Night Live episode.

"Is it true what they say about Chinese Hummers?" [wink - wink]

Richard's $.02 :munchin

[Dad]

This scares me. Am I paranoid? I remember when the Chinese bought all the companies producing diomite magnets ( key in smart bombs and car starters ) and promised to keep all production in the US. In, or by, 2004 all factories had been moved to China. When they say Hummer, are they referring to the military models as well? This issue seems to cross party lines. Both the GOP and Democrats seem willing to sell key defense industries to the Chinese. Help me understand if I am being unreasonably sensitive

[Red Flag 1]

This scares me. Am I paranoid? I remember when the Chinese bought all the companies producing diomite magnets ( key in smart bombs and car starters ) and promised to keep all production in the US. In, or by, 2004 all factories had been moved to China. When they say Hummer, are they referring to the military models as well? This issue seems to cross party lines. Both the GOP and Democrats seem willing to sell key defense industries to the Chinese. Help me understand if I am being unreasonably sensitive

That Hummer is bought by someone means that Zero has less to say about the Hummer. IMHO, that is a good thing. Should China pick up the ownership, we don't know that will happen, the product will degrade and fail. America will replace it with something better if needed.

Like Richard, I believe the cream will rise to the top.

My $.02 :munchin

RF 1

[Richard]

Remember - the Hummer being sold is not the HMMWV military vehicle built by AM General (South Bend, IN) and O'Gara-Hess & Eisenhardt (Fairfield, OH) - but the SUV built by GM. ;)

Richard's $.02 :munchin