DailyTech reported yesterday on GM's announcement that it had found a buyer for the Hummer brand of heavy utility vehicles. The mystery buyer promised to take on the brand and help expand its international presence. In the process it saved a number of jobs at Hummer plants and helped GM complete a major step toward moving out of bankruptcy.
Now the identity of the mystery buyer has been revealed. Sichuan Tengzhong Heavy Industrial Machinery Company Ltd., a Chinese industrial firm, will be purchasing the brand and attempting to revive it.
States Yang Yi, chief executive of Tengzhong, "We plan to ... allow Hummer to innovate and grow in exciting new ways under the leadership and continuity of its current management team."
He did, however, hint at changes stating that the deal "will allow Hummer to better meet demand for new products such as more fuel-efficient vehicles in the U.S."
The companies hope to have the deal finalized by September. The deal does not concern the military Hummer technology owned by defense contractor AM General, which licensed the brand name to GM for civilian vehicle purposes. AM General will now, in turn, license the name to Sichuan Tengzhong, which will continue the civilian Hummer development.
quote: America needs to move towards socialism if it wants to compete in the global market. We will probably learn this the hard way.
quote: 1. I agree on this, everyone should be responsible to the same percentage of income, regardless of class. As it is right now, the lower class to upper middle class are responsible for the vast majority of tax dollars in the country. Some people think they rich are but a majority of the time they have access to so many tax write offs they're paying close to nothing.
quote: 3. I can safely say that more of my check goes towards social security tax than to actual federal income taxes. About 2-3 times more in fact. I'm ok with the eliminating future and continued social security for the current and future working generations as long as they give me the money back that I've already paid into the system that I'll never see again.
quote: Super Rich don't pay thier fair share
quote: I think that requirement for people earning under 50,000 to even file a tax return is ludicious. They pay such a small percentage of the nations income tax (less than 3%) a balance that could easily be made up by increasing the top bracket by a few percentage.
quote: What is their fair share? How much would you like to steal from them? Please, tell me. How much more of their success would you like to penalize so that you don't have to pay any taxes?
quote: You're blaming the wrong people Keeir. Instead of milking the rich, why don't you to go down to the ghetto, and tell those poor people to quit expecting a handout of money, food, and house payments...and go get a F*cking job. Oh, and then tell them that they will pay just as much in taxes as everyone else.
quote: The average american pays 33% of income for income taxes and 21% of income for health care, which totals 54%
quote: which totals 54%, close to what Socalist europe pays in taxes up front.
quote: The difference is they get more bang for their buck.
quote: Europeans actually have more disposable income, as they get more for less.
quote: Flat tax won't work, because you would have to set it too low in order to spare the poor
quote: A sales tax, or Value Added Tax (per Europe) would be a much fairer system.
quote: Never mind the billions in contracts, setting up equipment, building new refinaries, all for a resource we won't need in 10 years.
quote: In short: You want to return to 1900, where all the wealth was in the hands of the wealthy, workers were exploited, no controls were in place, and the middle class did not exist.
quote: Without SS, you would currently have millions more living in poverty.
quote: We have a "Free Market" system, so let government be free to compete, just like any other business. If the product is good, people will buy. If not, they government gets out of the industry.
quote: Due to less people farming, you would have overall higher prices for food, and occasional food shortages...Hence the subsidies.
quote: Maybe spending some money to help these states grow would help with the problem (while giving the US more trade partners)?
quote: In the end, your choice is between an increasingly impoverished poorer portion of society and ever-increasing police/security budgets to contain them
quote: The last I would add to that is that the pay through this program shouldn't be great. It should be very desirable to get out of that system and back into the private market.