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Are there actually any private Chinese companies? I don't think there are. Aren't they all controlled by the Chinese government?

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ORIGINAL: flcouple2009

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ORIGINAL: DomKen

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ORIGINAL: TheHeretic
      My question about this sale is, what exactly is this Chinese company getting?  Let's keep in mind that Hummer began by developing an extremely capable off-road, light weapons platform.  Are they buying factories and employee pension plans, or are they getting a shitload of military technology we might wish they hadn't been handed?  Yeah, I know.  It's hardly the timing sequences for an H-bomb, but HMMWVs move armies pretty damn well. 
    How long before this company starts getting orders from the Chinese Army?

GM did not develop the HMMWV. AM General did. They build the H1 and H2 for GM. So really I have no idea what GM is selling.

China already has 2 companies building HMMWV's with an unknown connection to AM General.

GM bought the Hummer brand from AM General, in the late 90's.  The H2 and H3 were GM creations.  AM General made the H1 and H2 for GM, with GM building the H3. 

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ORIGINAL: Mezrem

While I would be tickled pink to offer up a big plate of blame to Obama and the other idiots in D.C.,  Politesub is correct. The hummer is losing money.... it's not like we are selling the plans for state of the art weapons systems. China has more then enough weapons to deal with us at the moment.. if they wanted to lead us to ruin all they need do is dump all those dollars they have onto the market.

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ORIGINAL: MissSepphora1

I wouldn't have thrown 20 billion at the company, literally taking control over it, and given 50 billion more so they can go through bankruptcy.

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ORIGINAL: Sanity


How did Obama & the Democrats destroy the economy while  Bush was in office, you ask?

Here's part of the story:

Obama: sub-prime mortgages "a good idea".

Democrats were wrong on Fannie Mae & Freddie Mac - and Bush, McCain & the Republicans were right.

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ORIGINAL: DomKen

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ORIGINAL: flcouple2009

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ORIGINAL: DomKen

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ORIGINAL: TheHeretic
     My question about this sale is, what exactly is this Chinese company getting?  Let's keep in mind that Hummer began by developing an extremely capable off-road, light weapons platform.  Are they buying factories and employee pension plans, or are they getting a shitload of military technology we might wish they hadn't been handed?  Yeah, I know.  It's hardly the timing sequences for an H-bomb, but HMMWVs move armies pretty damn well. 
   How long before this company starts getting orders from the Chinese Army?

GM did not develop the HMMWV. AM General did. They build the H1 and H2 for GM. So really I have no idea what GM is selling.

China already has 2 companies building HMMWV's with an unknown connection to AM General.

GM bought the Hummer brand from AM General, in the late 90's.  The H2 and H3 were GM creations.  AM General made the H1 and H2 for GM, with GM building the H3. 

Why restate what I said? Was there some point?

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ORIGINAL: Sanity

And "letting them go bankrupt" is how it's legally done when this sort of thing happens. They're restructured under court supervision, as opposed to the supervision of politicians who have an agenda.

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ORIGINAL: JstAnotherSub

i just saw a commercial that said...

gm is not going out of business, gm is getting down to business.

since it was on tv, that means its all gonna be all right.

right?

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ORIGINAL: xBullx

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ORIGINAL: JstAnotherSub

i just saw a commercial that said...

gm is not going out of business, gm is getting down to business.

since it was on tv, that means its all gonna be all right.

right?

Only if the commercial was concluded with one of those, " I'm Barak Obama and I approved this message!"

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ORIGINAL: TheHeretic

      Do you have something on Hum-vee's being built in China, Ken?  You've said it a couple times here, but I've not heard of this before.

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ORIGINAL: Politesub53

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ORIGINAL: MissSepphora1

I wouldn't have thrown 20 billion at the company, literally taking control over it, and given 50 billion more so they can go through bankruptcy.

Why make up such high figures. I thought GM had been given way less than you claim. Id love to see a link showing they had had $70 billion from the treasury.

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Posted: June 01, 2009
9:02 pm Eastern


By Chelsea Schilling
© 2009 WorldNetDaily


A new poll shows that a full 67 percent of U.S. voters oppose the Obama administration's plan to bail out General Motors with nearly $50 billion (emphasis mine) and 51 percent of all Americans say they would rather buy a car from Ford because it did not take a government bailout.
In a statement, the White House announced today that the U.S. Treasury will provide approximately $30.1 billion to GM through an expedited chapter 11 proceeding and transition the new GM through its restructuring plan.
The federal government is set to receive approximately $8.8 billion in debt and preferred stock in the new GM and approximately 60 percent of GM's equity.
The Governments of Canada and Ontario will also lend an additional $9.5 billion to GM and New GM. According to the plan, the Canadian and Ontario governments will receive $1.7 billion in debt
and preferred stock and 12 percent of the equity of the new GM. The Canadian government claims it will divest itself of its GM stake by 2018.

"Based on these steps, the new GM will have far less debt and a world class balance sheet," the White House said in the statement. "This will allow the company the financial stability to weather future market downturns and generate significant excess free cash flow to invest in the business."
But according to the latest Rasmussen Reports national telephone survey, only 21 percent of U.S. voters support the Obama administration's plan to inject $50 billion into the auto giant and give the governments 70 percent ownership of the company.
The majority of voters – or 56 percent – say it would be better to let GM go out of business.