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The Chinese plan to increase the brand's international presence

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.



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RE: Sad.
By Mathos on 6/3/2009 11:28:19 AM , Rating: 2
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.

2. I agree that there are quite a few policies that need to be removed. I don't know about drilling for more oil, that will always be cornered by greedy corporations that will charge whatever they please regardless of actual supply. Nuclear power needs to be expanded, and I'm hoping this new laser thing I'm hearing about on the news will allow them to implement fusion reactors. Welfare, food stamps, section 8 are all handled on a local and state level, they aren't ran by the federal government. Affirmative action is and always has been a double edged sword, sadly it is still needed in some area's to make finding work fair, racism, sexism whatever ism are still big problems in some industries.

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.

5. You've obviously never participated in any large scale farming. Where do you think large portions of the nations food comes from? Part of the problem right now though is the cost of planting and replanting due to inflated seed grain prices from bio ethanol production using corn. This one also shows some major ignorance of what happened in the past with this, which is why farming subsidies were introduced. Unfortunately for farmer, nature is a fickle beast.


RE: Sad.
By Keeir on 6/3/2009 1:38:26 PM , Rating: 1
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.


While your are partially correct in that many Super Rich don't pay thier fair share, the vast majority of tax dollars are paid by people making between 100,000 and 200,000 for singles and 200,000 to 300,000 for married/families. These are certainly upper middle class to rich.

http://www.allegromedia.com/sugi/taxes/

The Highest 20% pay close to 80% of the income tax dollars in 1999
Off all Federal Taxes, the Highest 20% typically pay 60-70% and that has no really cahnged.

Persons earning $65 thousand and over pay 86.27 % of income tax.... this corrosponds to around the upper 25%.

Personally, 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. And giving the average person earning 50,000 dollars a 6,000 dollar tax rebate goes a long way to providing health care privately (IE no public health care) and allowing simplification of the tax system, thereby eliminating waste. I repeat, I am only in favour of such a system if it is used to reduce expected government services for people.

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.


Since Social Security taxes are 12.5% for individuals and less than 7% out of a paycheck, your really only paying 3% of your income in income taxes?!? And you have the nerve to think your paying too much?


RE: Sad.
By mdogs444 on 6/3/2009 1:45:29 PM , Rating: 3
quote:
Super Rich don't pay thier fair share

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:
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.

See, what is it about this that you morons don't understand? Why is everyone else's money fair game for you to use as you please? Why is it that they somehow owe their country more than you do becuase they applied themselves, got a good education, and become successful? Shit, maybe they won the lottery. That all the sudden means they "owe" a bigger "fair share" than you do because you want to take from them to give to someone else?

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.

In fact, if you feel obliged, you may as well tell them how good they have it only paying the same "fair tax" percentage as everyone else...seeing as how they haven't paid shit and have been living off everyone else for so long.


RE: Sad.
By Keeir on 6/3/2009 3:00:06 PM , Rating: 2
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?


Someone who makes the majority of thier income and activitly manages as thier full time job thier stocks/dividends/etc business should pay income taxes on these gains. Many of the "Super Rich" do so and reap large tax benifits from having primary income taxed at 10 and 15% rather than the much more sensical 33 and 36% like someone who actually earns the money working.

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.


I am not blaming the wrong people. I am pointing out that no matter how much the bottom 75% pay in taxes (less than 15%) the truth is that they will consume 75-80% of the services. Starving them of income only makes the government pay them more through additional services. In the long term, I would rather we all pay less taxes than provide free health care. I would rather not take the money and not provide the services. Period.

Income and taxation is wealth redistrabution. No other way around it. Lets make it as small and sensical as possible. Taxing the poor, to then create compicated tax codes, free give-aways, and provide bonus government services seems inheritently inefficient.


RE: Sad.
By Keeir on 6/3/2009 3:03:12 PM , Rating: 2
To clarify, I would rather pay 15% tax because I am not supporting a terrible inefficient give-away government even if some people pay nothing at all than be taxed 20% same as everyone else and have a inefficient give-away government.


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