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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
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To: Zakeet

Criminal.


2 posted on 06/02/2009 4:52:48 AM PDT by allmost
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To: Zakeet

Didn’t read it, just don’t tell me its going to China.


3 posted on 06/02/2009 4:52:53 AM PDT by Bringbackthedraft
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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....)
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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.)
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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
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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)
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To: Zakeet

Thailand?


8 posted on 06/02/2009 4:57:20 AM PDT by SIDENET (Hubba Hubba...)
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To: Zakeet

The Rover group?


9 posted on 06/02/2009 4:59:47 AM PDT by mnehring
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To: Bringbackthedraft
Didn’t read it, just don’t tell me its going to China.

Why else would they not name the buyer?

10 posted on 06/02/2009 5:00:45 AM PDT by AFreeBird
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To: Zakeet

Arnold????


11 posted on 06/02/2009 5:00:50 AM PDT by Ann Archy (Abortion....the Human Sacrifice to the god of Convenience.)
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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
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To: Hot Tabasco

I thought of that, but do they even have tooling in place to even build a car?


13 posted on 06/02/2009 5:02:03 AM PDT by AFreeBird
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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.)
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To: Zakeet

my guess the UAW


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))
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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)
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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....)
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To: 12Gauge687
You got the humor!
18 posted on 06/02/2009 5:11:53 AM PDT by WellyP
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To: Doogle

Boy, are we being scammed. UAW sounds about right.


19 posted on 06/02/2009 5:12:02 AM PDT by Sacajaweau
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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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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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To: Army Air Corps

Yep. I heard on Fox news this moring that Kadaffi is a big player with Fiat.


41 posted on 06/02/2009 6:15:40 AM PDT by cripplecreek (The poor bastards have us surrounded.)
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To: cripplecreek

Oy veh.


42 posted on 06/02/2009 6:16:21 AM PDT by Army Air Corps (Four fried chickens and a coke)
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To: Zakeet

Heard the other day that the Penske group was interested. Can you imagine, a Hummer built like an Indy car (or vice versa)? :-)


43 posted on 06/02/2009 6:58:31 AM PDT by Fast Moving Angel (GOP: Stop listening, start doing -- we need new leaders!)
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To: Zakeet; SumProVita; HardStarboard; BradyLS; Ernest_at_the_Beach; dervish; Twotone; ...

The list, ping


44 posted on 06/02/2009 8:38:05 AM PDT by Nachum (The complete Obama list at www.nachumlist.com)
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To: Nachum

I’m hoping that Saturn will be bought too!


45 posted on 06/02/2009 8:46:43 AM PDT by SumProVita (Cogito, ergo...Sum Pro Vita. (Modified DeCartes))
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To: Zakeet

Rush just announced that Hummer was sold to the Chinese. Hummer is done.


46 posted on 06/02/2009 9:49:07 AM PDT by CountryBumpkin ("We are a nation that has a Government, not the other way around" RWR)
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To: CountryBumpkin

If true the fedgov should block the sale or cancel their military contracts.

Seriously - we want Soldiers and Marines charging into battle using Chinese equipment?

I don’t think so!
Homey don’t play ‘dat.


47 posted on 06/02/2009 9:51:35 AM PDT by BlueNgold (... Feed the tree!)
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To: BlueNgold

My understanding is that the sale only includes commercial vehicles on GM truck platforms, not the military vehicles. Two entirely different platforms. I hope I’m correct.


48 posted on 06/02/2009 9:54:08 AM PDT by CountryBumpkin ("We are a nation that has a Government, not the other way around" RWR)
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To: CountryBumpkin

Ditto - I hope you are correct also.


49 posted on 06/02/2009 9:56:08 AM PDT by BlueNgold (... Feed the tree!)
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To: BlueNgold

China already has the DongFeng (yes, it is really spelled that way)

see http://www.chinacartimes.com/2007/08/21/dongfeng-makes-the-crazy-soldier-ready-for-civillian-use/ for fotos.

Should be for sale in the US late next year.


50 posted on 06/02/2009 10:22:35 AM PDT by ASOC (Who IS that fat lady, and why is she singing?????)
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