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 Keeir on 6/3/2009 3:00:06 PM , Rating: 2
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.

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.

"We can't expect users to use common sense. That would eliminate the need for all sorts of legislation, committees, oversight and lawyers." -- Christopher Jennings

Most Popular Articles5 Cases for iPhone 7 and 7 iPhone Plus
September 18, 2016, 10:08 AM
No More Turtlenecks - Try Snakables
September 19, 2016, 7:44 AM
ADHD Diagnosis and Treatment in Children: Problem or Paranoia?
September 19, 2016, 5:30 AM
Walmart may get "Robot Shopping Carts?"
September 17, 2016, 6:01 AM
Automaker Porsche may expand range of Panamera Coupe design.
September 18, 2016, 11:00 AM

Copyright 2016 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki