Hummer Sold To China For Pennies On The Dollar

So how do think the government takeover of the car companies worked out for the American worker? If you ask China, they would tell you just great.

After being infused with our money and having nothing to show for it, General Motors has decided to take the Hummer division, an icon of the American road, and sell it to China. That’s right, exploding tires, snapping belts, failing brakes and corroding spark plugs just wasn’t enough for Americans to endure. Now China will be making the entire vehicle, and then shipping it back to the United States for profit. That’s another 3000 jobs straight to China folks. Most economists agree that in order to get the American economy back on track, we must expand the manufacturing base. GM has done just the opposite, and not only did they boot 3000 Americans onto the street, but they sold Hummer for hundreds of millions of dollars less than what it was worth.

When GM filed bankruptcy earlier this year, they listed the value of the Hummer division at $500 million. Now they are selling that same division to Sichuan Tengzhong Heavy Industrial Machinery Co. of China for $150 million. Yes, a $350 million dollar loss-for us. Remember, these clowns were bailed out with our money. Now they we are taking a massive loss, and putting Americans out of work at the same time. Well, we already know that they planned to off shore jobs anyway, but to sell an automobile division to a country with such dubious quality standards is not only unconscionable, but downright dangerous. To add insult to injury, not only are they selling American jobs, but American technology along with it.

I’ve asked the question before, “how do you destroy a country without firing a shot?” Well, here’s a pretty effective way. But as we know, China has more than one way, and it was all handed to them. Well, between outsourcing madness and unions, you could make a case that the auto industry never had a chance anyway.