GM'S Sale of Hummer Underway, WSJ

[nychot]

the wall street journal reported today that gm has started formal talks with those who have lined up to buy the hummer brand. the paper says that the revenue from the sale will be put into the production of small, fuel efficient cars. i'm just hoping that when my lease with gmac is up in february i'll be able to buy my 07 h3 lux at a true fire sale price.

[Minuteman1636]

I hope it is someone American that buys the brand. I'm sure it won't be though.

My dream is that AM General decides it wants it back.

[LAPTOP GAMER]

Originally Posted by Minuteman1636

I hope it is someone American that buys the brand. I'm sure it won't be though.

My dream is that AM General decides it wants it back.

Well if an American company dosen't buy Hummer, then I guess I won't be buying one as I now buy American cars only.

[hummer.dad]

I agree about buying American. I'm sick of the US losing jobs and revenue to the Chinese etc.... When my lease is up next summer the decision that GM makes about Hummer will decide if I buy out my lease, buy a new H2, or go to a different vehicle. If it goes over seas my dream of always owning a hummer will go away. And I will not buy GM either. This will turn me and my family from GM forever! They better think about what they are doing!!! Don't know why they would want to lose customers these days.

[timgco]

Our only home would be for AM General or Jeep to get their hands on it.

Or we're screwed. I have always been a GM person with the excpetion of Jeep. If GM gets rim of the HUMMER brand, there is no reason (no vehicles) I would buy from them...except maybe a vette or 2010 camaro.

[HummerJim]

I agree please make it AM General or Jeep! It must be me I really loved my '67 Olds Toronado and GM said no more Olds. My Hummers are my favorite vehicle ever, both the 2 and the 3, just ahead my '65 Stingray 396 I bought new- yep, I'm an old fart, but I still love quality machinery.

[oldhummer]

The Russion billionaire is in the buyers pool. I see this going to him and there will be a binding agreement regarding warranty, customer relations etc.
The parts on my h3 are mostly GM and are interchangeable with almost any make within the GM brand. So maybe the h3 will stay in the GM stable. There is a place for it because the performance is in an acceptable ballpark for all of the 3.7 's. Only problem is GM is on a keep no prisoners mission and will probably shoot the h3 as well.
However, the Hummer fits the new Russion freedom and country infrastructure - me thinks?

[RazM]

The Russian billionaire's company Russian Machines has already stated that they are NOT interested in purchasing HUMMER.

Also, not all parts are interchangable, only 25% of the H2 and H3's parts are off the shelf GM components, the rest are unique to HUMMER...

[Big Dad]

The wife just bought the white Alpha and the dealer told us that they had sold a total of 12 H3's this weekend.

[Yetti]

I dunno about you guys, but GM is pulling a fast one. the dealer down the road that I deal with has 40+ H3s on the lot and a couple of H2s. they are everywhere around here. I was driving yesterday down by Brooklyn, mi and saw 5 on the road and its 40 miles to the nearest dealer from there. even the semi loads of H2s I see go by are heading into Detroit and local dealers, someones buying these cars so it couldn't be that bad.

[oldhummer]

I tried the compact Volks Golf TDI for five years and I could not get in or out of the dam thing particularly after a long drive---the h3 is a safe, economical comfortable vehicle for us oldies that have the money to end our driving carrears in comfort. We were in the bush trails of the foothills yesterday looking for wild berries and the wife loves it. We need to get the word out--I am getting 24 mpg-Imperial gallon-- up here in Canada and that is better than any truck I have owned in the last 40 years.

[DRTYFN]

Originally Posted by nychot

the wall street journal reported today that gm has started formal talks with those who have lined up to buy the hummer brand. the paper says that the revenue from the sale will be put into the production of small, fuel efficient cars. i'm just hoping that when my lease with gmac is up in february i'll be able to buy my 07 h3 lux at a true fire sale price.

The WSJ has a perfect accuracy % on stories.

[phantom2]

FYI...http://news.yahoo.com/s/nm/20080826/...sale_gulf_dc_1

[Desert Dan]

GM receives Gulf Arab interest in Hummer

Two separate investors look at purchasing General Motors? brand

Reuters
updated 6:31 a.m. PT, Tues., Aug. 26, 2008
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DUBAI - General Motors Corp has received interest from two separate investors from the Gulf Arab region to buy its Hummer brand, the company?s Middle East chief told Reuters on Tuesday.
?For sure, there has been interest from various parties within the Gulf ... there is a precedent in the cases of Aston Martin, Ferrari or Daimler and those kinds of solutions could be very realistic solutions,? General Motors Middle East Managing Director Terry Johnson said in an interview.
General Motors is readying sales documents for its Hummer brand and has initial expressions of interest from potential buyers that it hopes to develop into formal sale talks, the automaker?s chief executive said on Aug 21.
Johnson said keeping the Hummer division was still a realistic option and that it was not a ?foregone conclusion? it would be sold.
?Apparently, we have had two separate investors raise their hand as being interested, but I don?t know what?s happened since then,? Johnson said by telephone, adding the investors were from the Gulf region.

[DRTYFN]

Interest=/=offer or intent
But maybe if the Arabs(who are flush with all of the new oil money) were to buy Hummer they'd have the balls that the GM pussies don't and would build some innovative vehicles.

[Spuds]

Originally Posted by DRTYFN

But maybe if the Arabs(who are flush with all of the new oil money) were to buy Hummer they'd have the balls that the GM pussies don't and would build some innovative vehicles.

Exactly. Maybe the best thing that could happen is for a sale and just have new management running the operation. Essentially keep the factories and workers in place and as is, but run more efficiently. Just not such enormous overhead, sucking the profits away.

[DRTYFN]

Originally Posted by phantom2

FYI...http://news.yahoo.com/s/nm/20080826/...sale_gulf_dc_1

[HUMMERPR]

There are several parties interested in the HUMMER brand and the formal talks will begin within the next several weeks. Don't believe everything you read in the papers about the major suitors not being interested.

It doesn't do much for negotiating leverage if you tell the world, and the seller, on the front page of the WSJ that you are interested in buying. Those discussions don't take place in public forums, like the newspaper.