Archive for the ‘Hummer’ Category

A day after filing for bankruptcy protection, General Motors Corp.moved quickly on two major matters: striking a deal to sell its Hummer brand to an industrial company in China and offering do-or-die operating agreements to U.S. dealers it has marked for closing.

The automaker filed for Chapter 11 , a process that will leave it nearly 61 percent owned by the federal government and unburdened of nearly three-quarters of its debt.
(more…)