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by SixFigureStart | June 02, 2009


In a staggering bit of corporate misdirection, GM today announced its Hummer brand had been sold -- but wouldn't say to whom, or for how much. Oh the speculation -- Pink Slipped operatives considered every entity from Greenpeace (as a preemptive means of keeping the guzzlers inactive) to a shadowy branch of the government (the X-Files bureau?) as the secretive buyer. But as long as the action saved 3,000 jobs (including those at dealerships), who cares!

Now rumor has it (rumor good enough for the New York Times to report on) that the unlikely winner is a Chinese concern. Actually, it is of some concern -- the machinery maker Sichuan Tengzhong Heavy Industrial Machinery Company has no experience in producing automobiles, only recently dipping its toe into heavy trucks. (Its usual stock in trade runs to bridge piers and highway construction and maintenance machinery.) What's more notable is that the deal isn't quite sealed, since it awaits approval by Chinese administrators.

Dear 3,000: Please continue holding your breath.

--Posted by Todd Obolsky, Vault Staff Writer