GM Nears Sale of Hummer

By JOHN D. STOLL, STEFANIA BIANCHI and SHARON TERLEP
General Motors Corp. is closing in on the sale of its Hummer brand with an undisclosed investor, and the deal is expected to preserve 3,000 U.S. jobs in manufacturing, engineering and at dealerships, according to people familiar with the matter.

GM began a strategic review of the Hummer brand a year ago, and has since engaged in talks with several possible suitors, including Chinese investors and parties in the U.S. It has picked a buyer for the brand, and hopes to close the deal by the end of the September, these people said.

Recent offers for the Hummer brand were in the $200 million range, according to others involved in the bidding. It is unclear what the final price for the brand will be.

A GM spokesman said the company is "working through the final details of an agreement," but said the company does not have an announcement to make at this time.

The buyer has committed to make aggressive investment in future Hummer products, according to people briefed on the deal. One potential condition of the deal could be a move by the new investor to acquire a manufacturing plant in Louisiana that builds Hummer models.

http://online.wsj.com/article/SB124377984340769781.html?mod=googlenews_wsj

And the million dollar question is.....Who's stoopid enough to buy the Hummer?

It's probably a private investment firm!

...isn't smart enough to make sales.

The Hummer?

Talk about a dead car. Extravagant gas guzzlers are out. Who in their right mind would buy
one of these now? They look ridiculous.

Maybe someone is banking on more Hummers being bought and sold for military purposes.

Who the hell knows.