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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 Ringold on 6/3/2009 4:00:36 PM , Rating: 2
I hadn't read that in the news, but who cares? If you missed the bulk of the news for the past several years, we built tons of homes of all sizes, too many for ourselves. If the Chinese people are happy to buy excess inventory that we don't want and thereby speed the recovery of our housing market then what is wrong with this?

Socialist and blindly protectionist, sounds like the "economics" taught only outside business departments.

Quick history note, because liberals can't remember anything prior to the year 2000: This isn't the first time there's been FUD about "<Insert foreign country> is buying America!" It won't be the last. Because we ignore your advice and have maintained a mixed but largely capitalist economy, we've always bounced back before. We can again. It's a little silly to be concerned about who owns what in non-defense multinational companies, if you'd studied any econ either in college or on your own you'd know that. It's not like Honda imports all the cars it sells here.

RE: Sad.
By Nfarce on 6/3/2009 6:02:06 PM , Rating: 2
A bif FUD fallacy is that "China Owns Our Debt." That's a huge crock of sheeiot. Two thirds of the National Debt is owned by the Federal Government and US Citizens. This pie chart is two years old, but it gets the idea across:

The other third is owned by all foreign nations, with China just leading Japan last year for the first time at 23% of the overall foreign ownership of US debt (23% of 33% in my minds comes to 7.5% - FAR from owning "ALL US DEBT"):

Do your duty and fact find. Try not to ever let the little mindless troglodytes on this forum get away with FUD.

RE: Sad.
By TSS on 6/4/2009 8:49:27 AM , Rating: 2
that chart is horribly outdated. january 2007 was more then 2 years ago and america has piled on ALOT more debt since then.not even including the new obama budget with the largest deficit ever, but also not including how you guys are gonna finance future medicare/medicaid/social security. that's more debt, and who'll pay for it? probably the chinese.

also that .txt file paints a even darker picture. mainland china had 490 billion in security's in march 2008 and 767 billion in march 2009 . +277 billion in a year! if china doesn't own your debt now their gonna very soon.

here's a link of my own. something i came across recently:

watch it completly and then say if foreign debt is still a FUD fallacy. or any debt for that matter. and instead of looking into the past, look into the future on this one. as for the present, well, china's already getting twitchy.

RE: Sad.
By Nfarce on 6/4/2009 10:04:22 AM , Rating: 2
1) I already said the chart was two years old, can't you read?

"This pie chart is two years old, but it gets the idea across:"

2) Even comparing numbers from two years ago, when you are dealing with such large numbers as the National Debt, the difference between percentages of CHINA ownership (the POINT) is negligible in the larger picture. That chart from over two years ago shows China's ownership at 7.4%. My March of 2009 data shows China's ownership at 7.5%.

Besides, you can always do the lazy thing and Wiki it:

Now those are the FACTS. I know FUD is out there on China, but the data is also out there to learn the TRUTH. And the TRUTH, I will provide. Every single time.

RE: Sad.
By Nfarce on 6/4/2009 10:14:54 AM , Rating: 2
And another thing:

also that .txt file paints a even darker picture. mainland china had 490 billion in security's in march 2008 and 767 billion in march 2009 . +277 billion in a year! if china doesn't own your debt now their gonna very soon.

If you look at that link, you'll see that ALL nations have increased their dollars spent on US debt investment. The only thing BIG there is that China surpassed Japan as the leading spender. And they way China laughed at our Treasury Secretary last week when asked if the US would continue to be stable enough to invest in, everyone over there laughed at him.

So to your point, I AM looking at the future under the way this government is running itself - and I don't like what I see. It makes the Bush years look fiscally responsible, and that is saying A LOT .

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