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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 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.


"So, I think the same thing of the music industry. They can't say that they're losing money, you know what I'm saying. They just probably don't have the same surplus that they had." -- Wu-Tang Clan founder RZA














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