Today in Schadenfreude: Nobody Wants to Buy Hummer(s)

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02/23/2010 12:29 PM |

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GM can’t give it away: Chinese regulatory law and financing concerns may scotch GM’s deal to sell Hummer to a Chinese industrial machine corporations for $200 million dollars, or the retail value of like two weeks of one Hummer factory’s output.

The problems: the Chinese government’s ownership rules; and difficulties financing the deal through banks increasingly concerned with the profitability of Hummer: “Hummer sales have plunged in the past two years because of the combination of high gas prices and the slump in the global economy.”