GM puts Hummer officially on the block

While the rumors have been flying for quite some time with who will buy the Hummer brand, it never had really been made official--until now. As General Motors continues to go public as to its plans for the future which includes a ton of infrastructure cuts and planning over the next several years, Hummer is a big part of the shedding of debts and potential losses.

On the company's website, it talks that with the assets in mind, we're talking 2-4 billion dollars. Not too shaby. But not what it could have been when GM bought it and the huge cash cow it was supposed to be. Talk about getting left holding the bag...ouch. But after months and months of consecutive losses with the behemoth brand, they have to cut their losses, and God save who ever takes over this ecological nightmare.

"We believe that we can monetize certain assets without impacting the strategic direction of the company," company treasurer Walter Borst said during his presentation, which was posted on GM's investor Web site.

And drop off a thousand pound gorilla at the same time. Good plan. What took you so long?????

( Add your comments )

Recent Entries:
· 2011 Ford Explorer
· Honda Announces Mileage Marathon Winner
· Cadillac Converj is GM's next electric car

[ READER COMMENTS ]

GM puts Hummer officially on the block

Add your comments...

We kindly ask that you keep your comments relevant to this blog entry. Abusive or inappropriate comments or comments that are specifically promotional in nature may be removed.