backtop


Print 108 comment(s) - last by jconan.. on Jun 17 at 9:38 PM

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.



Comments     Threshold


This article is over a month old, voting and posting comments is disabled

RE: Sad.
By mdogs444 on 6/3/2009 12:58:36 PM , Rating: 1
quote:
The average american pays 33% of income for income taxes and 21% of income for health care, which totals 54%

You see, no one has a problem with what the average American pays. We have a problem with the people that pay nothing, and we have a problem with those same people thinking they deserve a piece of the person who pays 50%+ of their income in income tax.
quote:
which totals 54%, close to what Socalist europe pays in taxes up front.

Oh well I guess I should be glad that I can at least have a say in what 18 of my 40 hours a week can buy me. Is that what you're advocating?
quote:
The difference is they get more bang for their buck.

More bang? Um...last I checked 3x as expensive gasoline and crappy health care doesn't account for more bang for your buck. Quite the opposite really.
quote:
Europeans actually have more disposable income, as they get more for less.

I hate to break it to you. But europeans pay higher taxes, have smaller homes, own less land, have longer waiting lines for healthcare, typically have higher unemployement numbers, and are crazier about entitlement programs than we are. I'm not sure what that extra money you think they have is buying them, but is nothing measurable.
quote:
Flat tax won't work, because you would have to set it too low in order to spare the poor

No, it removes class warfare. The poor will need to pay their same share, and work 2 or 3 jobs if need be. THAT is the penalty for not taking your education seriously, not planning for the future, and not having any self motivation or responsibility.
quote:
A sales tax, or Value Added Tax (per Europe) would be a much fairer system.

Thats what we are advocating, but at a value per person less than their typical income tax, and everyone pays the same rate. No ifs, ands, or buts. You want equality? THAT is equality.
quote:
Never mind the billions in contracts, setting up equipment, building new refinaries, all for a resource we won't need in 10 years.

I dont know where you get your numbers, but 5 years max is the turnaround time...longer if you make the rigs farther off shore. To me, there is no reason to prohibit rigs close to shore in the ICS, everywhere in ANWR, and at the same time, ramp up research into Oil Shale. We have enough of that to last us our lifetimes and then some.
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.

By advocating the fair tax, the middle class already does not exist. There is no class, no class warfare. And you have your working wrong. The wealth will not be in the hands of the wealthy....the wealth will be in the hands of the people who actually WORK!
quote:
Without SS, you would currently have millions more living in poverty.

So this is another way that I have to help prop up those unsuccessful in society? Isn't that against my freedom of liberty and prosperity for myself?
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.

Free market means the government doesn't compete in anything. Else, its no longer a free market. If the products are good and people are buying, then why are the left, liberals, and politicians doing everything in their power to ban those products? Yup, imposing their views on society. There is no such thing as freedom when it comes to liberals. There is only do as I say, and that's final.
quote:
Due to less people farming, you would have overall higher prices for food, and occasional food shortages...Hence the subsidies.

You do realize the government actually pays farms to NOT do any farming because they don't want overproduction of crops? Mandating biofuels and ethanol are against the free market, and if you got rid of that, good bye reason for subsidy!
quote:
Maybe spending some money to help these states grow would help with the problem (while giving the US more trade partners)?

Wow, you really are a pompous prick. We already give more money to the poor countries than ANY other country in the world. In fact, I believe we give more than all the others COMBINED. Poor countries are like the school system - money will not increase their lifestyle. They need to be taught how to do things on their own.

You people advocating throwing my money away on other people to help them not break our laws makes me sick.


RE: Sad.
By KIAman on 6/3/2009 1:29:16 PM , Rating: 2
^ Agree with all points. And no, I have never listened to Limbaugh nor a registered Republican.

Just to give some perspective, streamlining the tax system to reduce IRS burden would make a huge financial impact alone.

The IRS employs more than the FBI, CIA, ATF and NASA combined. We've got a tax code that is so complicated, it has to be defined in a huge document that is continually patched to remove the never ending loopholes.


RE: Sad.
By HotFoot on 6/3/2009 1:48:31 PM , Rating: 2
The reason the flat tax doesn't work out in the end is because no one is ever paid exactly what they're worth. Everyone who does a job must submit a portion of the value of their work to the owners of the business. In this way, wealth naturally concentrates to owners. Maybe this system would work if all owners were moderate owners, like the middle-class Joe who's smart about his savings and investments. However, the system naturally filters money to the top.

In the end, your choice is between an increasingly impoverished poorer portion of society and ever-increasing police/security budgets to contain them, or a taxation system that places a larger burden on the richest than it does on the poorest. Neither way seems great to me, but one seems far worse than the other.

The important function here is balance. Too steep of a graduation system in taxes removes the motivation - the whole socialism problem. None at all and the mechanism of wealth concentration will lead to massive disenfranchisement.

I agree with many points about the government being too involved in areas of my life. The social security business... well I think I would do a better job investing that on my own and my money belonging to me. At the same time, I don't believe in free handouts, and I think if we're going to, as a society through our governments, provide a security net to catch those in unfortunate circumstances (even talented folks lose their jobs from time to time), then it shouldn't just be a handout. It should be something where folks can be put to work to do something of use for society and get paid for it. 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.


RE: Sad.
By mdogs444 on 6/3/2009 2:01:45 PM , Rating: 2
quote:
In the end, your choice is between an increasingly impoverished poorer portion of society and ever-increasing police/security budgets to contain them

I believe something else would happen. I believe our workforce would grow, and less people would be poor because they would realize the only way to a sustainable lifestyle is themselves. I think their motivation and outlook would change drastically.
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.

I agree. That's supposed to be how our entitlement programs are. But when you take someone who dropped out of college, went and had a kid with some girl who also dropped out, have no valuable skills....its easier and better for them personally to take welfare, food stamps, govt housing. And the more babies they have, the more money each month they get! I don't get it - not sure how this provides motivation to get up and get a job. Especially when the non skilled people on welfare have a better lifestyle and more money on welfare than they would getting a minimum wage job starting at the bottom and working their way up.

The democrats have succeeded in this method of securing votes by making people defendant on them. I find it so funny that this past election, how many bumper stickers I saw that said "Too poor to vote republican". Hmm, I wonder if these people ever stopped to think that they just might be poor because they keep voting in democrats? lol.


"A politician stumbles over himself... Then they pick it out. They edit it. He runs the clip, and then he makes a funny face, and the whole audience has a Pavlovian response." -- Joe Scarborough on John Stewart over Jim Cramer














botimage
Copyright 2014 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki