NEWS: Questions Arise Over Bids for Hummer, Illinois Senator Investigating Matter

By Steve Diehlman - April 13, 2010
28817566
General Motors announced last week that it would officially wind down its Hummer brand. Following that announcement, several reports surfaced suggesting the automaker ignored at least two bids to save the off-road division, prompting Illinois Senator Roland Burris to open an investigation into the matter.
Last week, Hummerguy.net reported American-owned Raser Technologies had submitted two offers to buy the brand from GM. According to the piece, the firm offered a substantial sum for the brand, and had interesting plans to create some eco-friendly Hummers (much like the plug-in hybrid H3 prototype it showcased last year).
Details like these are somewhat discouraging to the Capital & Labor International Coalition (CLIC), which recently held a rally in Chicago to save the Hummer nameplate. CLIC wants to organize a coalition purchase of Hummer from GM. Details are still sketchy, but any offer would involve a mixture of private capital and resources owned by the United Auto Workers.
A major hurdle may be prompting the General to reopen negotiations for the brand, especially after a handful of offers have already been dismissed. Although Hummer has no major presence in Illinois (even AM General is located in Indiana), Illinois Senator Roland Burris is apparently interested in investigating why GM seems so intent on simply winding the brand down as opposed to selling it.
Source: Hummerguy.net (1,2)
28817566

Comments

Photo Gallery

Research A Vehicle

Select a vehicle to research pricing, see photos, compare similar vehicles and much more.
Research Now

Top Lists

Find Local Car Deals