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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: Military
By Moishe on 6/4/2009 1:14:45 PM , Rating: 2
I don't think anyone can debate that *some* regulation is good, but what conservatives and libertarians generally have a problem with is that the government goes way overboard.

The government is no longer simply creating incentive for responsibility, the government is now mandating actions that are based on ideology. This is precisely the problem. The government has too much say in the day-to-day lives of it's citizens. Sure, it wouldn't be so bad if the government's actions were all perfect, but government is inherently inefficient and often hijacked by corruption and self-interest. This is the human element and the very reason why a government should *not* have too much power.

So in short, regulation is good, but *like anything* there can be far too much regulation. The U.S. has a government that removes incentive to innovate and produce. This harms the country and the economy.


RE: Military
By mindless1 on 6/6/2009 3:14:27 PM , Rating: 2
There is such a thing as too much regulation, but the standard of living is quite high in the US compared to many countries so I can't agree it is effecting the US significantly, if anything the consumer problems are they want even more luxury and overextend their credit line.

Now excuse me while I pick a new widescreen TV because my present one /only/ does 720P.


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