We've all heard this before...maybe it'll happen this time

[HummerJim]

GM may sign Hummer deal this week


A Chinese company is sending a delegation to Detroit this week to discuss details of the sale.


Posted by Charley Blaine on Monday, August 24, 2009 11:04 AM
General Motors (MTLQQ) may sign an agreement for the sale of the Hummer sport-utility vehicle business to a Chinese machinery maker this week, Bloomberg News said today.

Executives from prospective buyer, Sichuan Tengzhong Heavy Industrial Machinery, based in Chengdu, China, are expected to arrive in Detroit early this week for more negotiations with GM, sources told Bloomberg.

• Bing: More on Hummer

An agreement could be signed and announced during the trip, one of the people said. It would be subject to U.S. and Chinese regulatory approval before it would take effect.

GM CEO Fritz Henderson is working to dispose of half of the automaker?s U.S. brands so the carmaker can focus on the four that remain.

The company is eliminating the Pontiac brand, and deals are pending to sell its Saab brand to Swedish sports car maker Koenigsegg Automotive and Saturn to Penske Automotive Group (PAG).

A statement from Hummer CEO Jim Taylor said that the two sides have been "in frequent discussions" to develop a definitive agreement.

GM won?t provide further specifics until the agreement is completed, the statement said.

[HummerHippy]

Yea, Saw this article yesterday. But at least is more current news about talks, and not about stopping the negotiations.