It's not over till the fat lady sings

[zacknolden]

Originally Posted by HummerMann

This story was also being reported on CNBC yesterday.......so maybe there's still hope for Perleman at AMGeneral who was rumored in the hunt for Hummer GM?s Hummer Sale May Fail to Clear China?s Regulatory Hurdles
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By Bloomberg News

June 5 (Bloomberg) -- General Motors Corp., seeking to shed unprofitable units after filing for bankruptcy, may have its agreement to sell the Hummer sport-utility vehicle brand blocked by Chinese regulators, threatening 3,000 U.S. jobs.

Sichuan Tengzhong Heavy Industrial Machinery Co.?s bid for Hummer runs counter to China?s attempts to develop a globally competitive auto industry by focusing on fuel-efficient vehicles, according to analysts. The government also wants to pare the nation?s more than 100 automakers to ease competition.

?A new entrant in the car industry is not something they?re looking to see,? said Chip Chaikin, who helps oversee $800 million as managing director of Shanghai-based Blue Point Capital Partners Asia. ?It?s pretty unlikely? the deal will go through.

Tengzhong also needs to persuade at least two Chinese government agencies that it can turn Hummer into a profitable company to get clearance for the deal, said Zhang Xin, an analyst with Guotai Junan Securities in Beijing. Hummer?s U.S. sales are plunging as higher gasoline prices and rising job concerns hammer demand for its gas-guzzling SUVs.

?If I were a betting man, I?d bet this wouldn?t going to happen,? said Chaikin. Still, ?crazier things have occurred.?

I am still hoping that the legendary Hummer can have it's nest at the right bidders. I don't want the brand to be corrupted.

[johndjmix1]

How the hell could they sell the whole brand for 500 mil. Theres got to be a mistake in that number, way too low.

--John