Sunday, October 11, 2009

Hummer sold to the Chinese for $150 million

From Washington Times

Nothing was more American than the Hummer.

It was Schwarzenegger, cigars and swagger, laughing in the face of scornful environmentalists.

Only now the Chinese are laughing.

General Motors sold the military-inspired off-road brand to China's Sichuan Tengzhong Heavy Industrial Machinery Co. for a reported $150 million on Friday, consummating a deal announced in early June.

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