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Chinese Company Said to Be Buyer of Hummer
NY Times ^ | June 2, 2009 | KEITH BRADSHER and NICK BUNKLEY

Posted on 06/02/2009 9:36:24 AM PDT by King of Florida

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.

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

Sichuan Tengzhong is a privately owned company, but Tuesday’s deal required preliminary vetting by Beijing officials, who retain the right to veto any effort at an overseas acquisition by a Chinese company and who give special attention to deals over $100 million.

G.M. announced the deal early Tuesday morning in Detroit but said that the memorandum of understanding would not allow it to reveal the buyer or the price. Industry analysts have estimated that the Hummer division would sell for less than $500 million.

Sichuan Tengzhong is known in China for making a wide range of road equipment, from bridge piers to highway construction and maintenance machinery. But even before the Hummer deal, the company has been moving more into heavy-duty trucks, including tow trucks and oil tankers.

(Excerpt) Read more at nytimes.com ...


TOPICS: Business/Economy
KEYWORDS: china; generalmotors; hummer; tengzhong
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Commie Hummers?
1 posted on 06/02/2009 9:36:24 AM PDT by King of Florida
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To: King of Florida
Sichuan Tengzhong is a privately owned company, but Tuesday’s deal required preliminary vetting by Beijing officials, who retain the right to veto any effort at an overseas acquisition by a Chinese company and who give special attention to deals over $100 million.

Gee, sounds like us.

2 posted on 06/02/2009 9:37:40 AM PDT by neodad (USS Vincennes (CG 49) We know how to deal with Iran.)
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To: King of Florida

BO won’t let let hummers be sold in the U.S. to force Americans to buy his little putt putts.


3 posted on 06/02/2009 9:37:50 AM PDT by Man50D (Fair Tax, you earn it, you keep it!)
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To: King of Florida

Those commies are better capitalists than we are these days!


4 posted on 06/02/2009 9:38:13 AM PDT by pgkdan ( I miss Ronald Reagan!)
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To: King of Florida

Is it 51% owned by the PLA or something?


5 posted on 06/02/2009 9:38:40 AM PDT by GeronL (http://libertyfic.proboards.com <----go there now, NOW)
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To: King of Florida

China is buying Hummer? This is a bit of a humiliation.

But America did vote itself off the island last November, so I suppose I should not be too surprised.


6 posted on 06/02/2009 9:39:28 AM PDT by AIM-54
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To: King of Florida

The communists are better capitalists than the Obama administration.


7 posted on 06/02/2009 9:40:12 AM PDT by Oldeconomybuyer (The problem with socialism is that you eventually run out of other people's money.)
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To: GeronL

maybe 49%


8 posted on 06/02/2009 9:40:13 AM PDT by GeronL (http://libertyfic.proboards.com <----go there now, NOW)
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To: King of Florida

Does China have the equivalant of the young blonde trophy wife driving these Hummers picking up a latte while talking on her cell phone?


9 posted on 06/02/2009 9:40:58 AM PDT by tc45a
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To: AIM-54

Who will make the military Hummers?


10 posted on 06/02/2009 9:41:07 AM PDT by Holicheese (He stopped the War on Terror and started a War on Patriotism!)
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To: King of Florida

So, what happens to the manufacture military Humvees?


11 posted on 06/02/2009 9:42:14 AM PDT by Army Air Corps (Four fried chickens and a coke)
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To: King of Florida

According to the article, they will be Chicap Hummers.

The capitalists there sense a good deal


12 posted on 06/02/2009 9:42:31 AM PDT by bert (K.E. N.P. +12 . The boy's war in Detriot has already cost more then the war in Iraq.)
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To: King of Florida

wonder if pelosi or geithner had anything to do with this...hmmmm


13 posted on 06/02/2009 9:42:49 AM PDT by angelcindy
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To: Holicheese
Who will make the military Hummers? That's a different company altogher, AM General.
14 posted on 06/02/2009 9:42:51 AM PDT by AIM-54
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To: Holicheese
Who will make the military Hummers?

Totally different vehicle.

15 posted on 06/02/2009 9:42:52 AM PDT by tc45a
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To: King of Florida

Guess it’s getting too expensive to use tanks to mow down dissidents with.


16 posted on 06/02/2009 9:43:08 AM PDT by randita
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To: King of Florida

“Commie Hummers”

to be renamed “oBummers”

For options you can choose one item from menu “A” and two choices from menu “B”


17 posted on 06/02/2009 9:43:20 AM PDT by silverleaf ("Never forget that everything Hitler did in Germany was legal ( Martin Luther King))
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To: Holicheese

The Chinese are already making a military copy of the Hummer.


18 posted on 06/02/2009 9:43:20 AM PDT by hellbender
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To: Holicheese

Military Hummers aren’t related to the consumer Hummer other than the latter takes styling ques from the military version. The Military model (HMMVW) is made by AM General and has no relationship to GM.


19 posted on 06/02/2009 9:43:25 AM PDT by mnehring
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To: King of Florida

They will doubtless be used when they invade to collect on their past due notes.


20 posted on 06/02/2009 9:43:28 AM PDT by Dick Bachert
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To: King of Florida

End of Empire, continued...


21 posted on 06/02/2009 9:43:29 AM PDT by FreepShop1
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To: Army Air Corps

The HUMVEE will remain with their current manufacturer, I am not positive but I believe that is General Dynamics. The military HUMVEE is a totally different animal than the civilian Hummer. The Hummer is a HUMVEE shaped sheet metal shell on a regular GM frame.


22 posted on 06/02/2009 9:43:57 AM PDT by CSM (Business is too big too fail... Government is too big to succeed... I am too small to matter...)
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To: Holicheese

AM General builds those, GM owns the civilian rights so this is not a military threat, but its humiliation regardless.


23 posted on 06/02/2009 9:44:19 AM PDT by omega4179 (Boycott all fascist run corporations,,,, for America.)
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To: King of Florida
They already have a Chi-comm knock off.



Now they will get the real deal.

24 posted on 06/02/2009 9:44:52 AM PDT by Jeff Head (Freedom is not free...never has been, never will be. (www.dragonsfuryseries.com))
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To: mnehring

Good clarification. I should have held my tongue!

;-)


25 posted on 06/02/2009 9:45:17 AM PDT by CSM (Business is too big too fail... Government is too big to succeed... I am too small to matter...)
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To: King of Florida

I predict pre-Chinese Hummers are going to be worth a lot more than Chinese Hummers. Start buying up parts for them now.


26 posted on 06/02/2009 9:46:11 AM PDT by Secret Agent Man (I'd like to tell you, but then I'd have to kill you.)
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To: King of Florida
Now the LIEberals will love it since they love selling us out to the CHICOMS...


27 posted on 06/02/2009 9:47:30 AM PDT by RasterMaster (DUmocrats - the party of slavery, sedition, subversion, socialism & surrender)
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To: Oldeconomybuyer

No, Barack promised them part of GM in order for them to stay with our debt. They wanted tangible backing. Obama took GM over in order to make sure that happened.


28 posted on 06/02/2009 9:47:32 AM PDT by Secret Agent Man (I'd like to tell you, but then I'd have to kill you.)
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To: Holicheese

China will make them for the USA military. You already knew the answer to that one.

“Trust me I’m from the government.” The Chinese government.


29 posted on 06/02/2009 9:47:44 AM PDT by Alex Kida
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To: Secret Agent Man
Barack promised them part of GM in order for them to stay with our debt.

Now that is an interesting thought.

30 posted on 06/02/2009 9:51:12 AM PDT by mnehring
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To: King of Florida
Hmmm...and didn't we have a White House weenie tax-evader just get back from China? Can you say "Let's Make A Deal"?
31 posted on 06/02/2009 9:51:38 AM PDT by Jonah Hex ("Never underestimate the hungover side of the Force.")
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To: King of Florida

Lightweight troop carriers for the Red Army?


32 posted on 06/02/2009 9:52:14 AM PDT by TexasRepublic
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To: CSM

I thought GM bought the Humvee line a few years ago. I know they (Hummer and Humvee) are different critters; I was just curious if Obummer will allow his car company to make military vehicles.


33 posted on 06/02/2009 9:54:05 AM PDT by Army Air Corps (Four fried chickens and a coke)
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To: Secret Agent Man

Source? Or opinion?


34 posted on 06/02/2009 9:55:51 AM PDT by The Flying Dutchman (Searching for Landfall...)
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To: King of Florida

This government would sell Hawaii to the Chinese if they could get away with it.


35 posted on 06/02/2009 9:56:32 AM PDT by dragnet2
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To: King of Florida
Chinese hummers !!! Yes!
36 posted on 06/02/2009 9:58:25 AM PDT by ▀udda▀udd (7 days - 7 ways Guero >>> with a floating, shifting, ever changing persona....)
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To: silverleaf

Half an hour after buying one, you’ll be back for another.


37 posted on 06/02/2009 10:00:40 AM PDT by andy58-in-nh (You have enemies? Good. That means you've stood up for something, sometime in your life.)
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To: Secret Agent Man
Congratulations We Have a Winner. Your answer was:

Barack promised them part of GM in order for them to stay with our debt.

You are correct sir.

1. The FED keeps the debt and payments from it.

2. The Chinese get tangible assets for their debt.

3. The American people pay for it all.

Geitner and his minions created the deal.

Barak O'Bama read it off the teleprompter.

Nicely done Secret Agent Man.

38 posted on 06/02/2009 10:01:24 AM PDT by Alex Kida
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To: The Flying Dutchman

What do you think?


39 posted on 06/02/2009 10:07:07 AM PDT by Secret Agent Man (I'd like to tell you, but then I'd have to kill you.)
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To: King of Florida

So how many American jobs is comrade 0bama sending over to the Red Chinese with this sellout?


40 posted on 06/02/2009 10:07:37 AM PDT by The Sons of Liberty (FUBO - Don't Tread on Me!)
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To: tc45a
Does China have the equivalant of the young blonde trophy wife driving these Hummers picking up a latte while talking on her cell phone?

Well blonds are in short supply over there. And since the one child policy resulted in the aborting of female babies, so are wives. Of course bad drivers and cell phones are waiting and ready to go.
41 posted on 06/02/2009 10:09:23 AM PDT by GonzoGOP (There are millions of paranoid people in the world and they are all out to get me.)
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To: ├čudda├čudd
Chinese hummers !!!

Chummers?

42 posted on 06/02/2009 10:10:13 AM PDT by GreenHornet
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To: King of Florida

*John McEnroe reaction comes to mind*


43 posted on 06/02/2009 10:10:51 AM PDT by McGruff
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To: King of Florida

The new Chinese Hummer will be the size of a Mini Cooper with all kinds of neat commando decals on it.


44 posted on 06/02/2009 10:13:19 AM PDT by dragnet2
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To: Alex Kida
Alex and SAM...

Excellent Analysis.

The question is, what else does he give away to keep them buying our bonds so he can spend more?

Scary Stuff....

UAW guys are probably fuming....

45 posted on 06/02/2009 10:14:22 AM PDT by taildragger (Palin / Mulally 2012)
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To: andy58-in-nh

If the fumes from the upholstery don’t cause you to go blind or grow a tail


46 posted on 06/02/2009 10:14:42 AM PDT by silverleaf ("Never forget that everything Hitler did in Germany was legal ( Martin Luther King))
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To: King of Florida

According to a Detroit News story GM will provide cars for at least a year. So Government Motors, run by Obama, will force UAW workers to make cars for the Chinese. HA! How’s that hope and change working for you?


47 posted on 06/02/2009 10:17:47 AM PDT by Lost Highway (I don't know what the world may need but a V8 engines a good start for me)
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To: King of Florida
Now we know what Tiny Timmy was doing in China! He's a “F”ing weasel! The Obama government may have just crossed a bridge too far! The backlash from this will be HUGE!

Also explains why Obummer is getting out of town for a week. It takes the spotlight off another SCREWING he just gave ALL OF US!

48 posted on 06/02/2009 10:21:38 AM PDT by WellyP
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To: pgkdan
Irony abounds...

Makes you wonder what the all the effort of the last Century was for...

The only nation that has ever beaten the USA is US...

49 posted on 06/02/2009 10:25:46 AM PDT by ejonesie22 (Mitt Romney is a more subtle version of Arlen Specter with better hair...)
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To: The Sons of Liberty
So how many American jobs is comrade 0bama sending over to the Red Chinese with this sellout?

Had this been a normal bankruptcy I bet the Chinese would have paid cash for all of GM's assets and moved them to China. But then they wouldn't be buying T-bills for a while and Obama would have been impeached.

50 posted on 06/02/2009 10:30:54 AM PDT by Reeses (Leftism is powered by the evil force of envy.)
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