Hummer Sale: Buyer Said To Be Chinese Company

nytimes.com:

GUANGZHOU, China -- 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 familiar with the Chinese government approval process said Tuesday.

Read the whole story: nytimes.com

Comments

[ZappaFreak]

Screw this deal! Who's brilliant idea was this!

These people already own half the country now...and the Arabs own the other half!

This is just ridiculous­... Besides, don't they know that this brand only sells to complete losers who don't know what to do with their money? Oh well, I'm sure they'll make lots of money selling them to the Middle East...the­y have the oil and the right price for fuel for these gas guzzlers!

GM...you are stupid! You deserve to fall into Lake Michigan for good!

[munki]

China - please... don't waste our natural resources.­..

[leftLibertarian]

Commies are buying the Hummer!

LOL!

[KarateKid]

They are going to call it the Humm-C

[MikeLicht]

For China, it has been a Long March to Vehicular Victory.

See:

http://notionscapital.wordpress.com/2009/06/02/the-ink-is-red/

[katooom]

So after we have sunk untold billions into GM, it goes bankrupt, and China now swoops in to cherry pick a SUV division at bargain price. Those Chinese have picked up on capitalism really quickly.

[drymartini1]

Chinese are very good at buying overpriced assets. Remember the japanese buying those overpriced golf courses and real estate and selling them back for a loss.

chinese have a trillions of $$ in currency reserves. value which will fall with the $$. might as well buy some real assets (if you call hummer division that!!!)

[Moxo]

To be renamed...­. The Chummer?

[thrugreeneyez]

I must admit I'm quite surprised that anyone at all would want to buy an utterly crappy brand like Hummer.

[KillTheMessenger]

Cool... and since the Chinese government is going after cars which waste fuel, this will be a pure export product.

:-)

[jane gutowski]

So when the entire country is bankrupt and we are waiting outside in line for our food rations our air will be much healthier than Chinas.

[KillTheMessenger]

Probably the other way around... by the time the US will be bankrupt, China's air will be much healthier. They are setting much more stringent air quality standards for cars than we do, you see.

:-)

[NewYorkStateofMind]

yet another reason not to buy a hummer

[TJCole]

They said it's only the commercial division, not the military, those are much much different, of course they are lying through their teeth as always...!

They'd sell Red China the M1A1 tank designs and factories if they could ...

Our corporations commit corporate treason daily, that's what got us to this point in fact, Corporate Treason..!

[drymartini1]

most lefties here hate people who drive hummers. Now you are mad that someone else bought this pos. ....where is the logic?

[jcko]

xenophobia

[boogiewoman]

Bye-Bye American Pie!

[OneTop]

Relax folks.

GM just sold the Hummer Brand / Division.

AM General makes the Humvee et al and they are not part of GM.

http://www.amgeneral.com/vehicles/

Although it will be funny seeing all those redneck neocons driving around in their commie vehicles.

Tee hee

[ErnestineBass]

Yup, yup. ~snicker~

[coolguy877]

Read this

http://en.wikipedia.org/wiki/PRC_HMMWVs

[BabblingBrooks]

Is all this payback to The Chinese, unions, etc.?

[ErnestineBass]

Naah...the­y did it just topissyouoff, Babbler.

[BabblingBrooks]

Lucky for me, I don't own GM stock or bonds...

[coolguy877]

I am not a born American citizen but a naturalized citizen and I really love this country for what it has offered to me and the life it has given me and it hurts....s­o I am forced to write a comment on this - What an amazing deal and move !!!! Talk about some people's love for America...­...first you screw the American people and then you screw America itself....­! Why wouldnt the Chinese buy Hummer ?? After all it is America's military terrain vehicle...­...I guess the Chinese are getting American military technology these days by spending a lot less money to buy off these companies or by paying these corporate board rooms than they normally spend on hacking, spying and stealing stuff from here......­.so whats the next gift that the great financial advisors who 'adviced' on this sale have for China - Boeing? Northtop Grumman? Lockheed?

[ErnestineBass]

GM produced the Hummer, a civilian version of the Humvee.

American General (no connection to GM whatsoever) continues to make the original Humvee for use by our military, and the military of other countries.

So, don't panic. For the time being, military Humvees will continue to be made here.

[ThatOne4Me]

ha ha ha! maybe they will outsource the military humvees to china in a few years.